Online casinos will go all-the-way to attract new players; some by offering generous welcome bonuses, while others will go even further and give players so called Free Bonus just for signing up.
Obviously, if you are offers something for free, there is no reason to refuse it, but those promotions do have their own limitations. If one is not aware of them, the free money will just generate disappointment and frustrations.
In this article, we will explain how casino no deposit bonus codes work, their pros and cons and of course list the ones offered by reputable, fast payout casinos.
How Free Bonuses Work
First, by definition, the only thing you need to do to get this bonus is to sign up. Now you should pay attention that many sites use the word “free” also for their deposit bonuses (“Deposit $100 and get $100). That’s not a free bonus.
As you’ve probably learned till know, when you are given something for free, usually some terms are attached to it. The main one here is that you cannot simply withdraw the bonus, but need to wager it, place certain amount of bets, before you can cashout. That number is usually presented as a multiply of the bonus.
Please notice that 99.9% of free bonuses can be wagered on Slots only. All other games are restricted, so even a single hand of blackjack will make you ineligible to withdraw any winnings.
That’s the simple part, but there is another thing you should be aware of. Casinos are ready to risk a certain amount of money on those free chips, but they are not interested in someone winning a million dollar jackpot just by redeeming a $10 bonus. That’s where the Max Cashout rules comes in.
ALL no deposit bonus codes come with max cashout limit. In most cases it will be something like $50-$100 or a multiply of the bonus, usually x5.
This rule is the main reason why I personally rarely use those promos. Just the idea of winning $100,000 jackpot and being able to withdraw only $100 makes me sick. It doesn’t mean that I don’t use them from time to time to try a new casino or a new game, but when I really wish to have fun, it won’t be on a free bonus.
Let’s use Slots LV no deposit bonus as an example. Here you will get $22 bonus. The wagering requirements stand on x100 on slots and keno only, meaning you will need to place bets worth $2,200 before you can withdraw your winnings.
The max cashout amount is $125 – that means that even if you have $5000 in your balance after completing the WR, you still will be able to cashout only $125, while the rest will be forfeited.
Pros & Cons
- First, it’s always nice to get things for free, so why not.
- This is a good way to check the casino before depositing.
- From time to time, you can win a bit. Not a lifechanging amount, but $50-$100 is still nice.
Here there is only one drawback, but it’s a big one. You cannot really win money on no deposit bonus codes. Free chips are something in between free games and real money gambling.
The reason why most of us go to casinos, online and offline, is the excitement and the dream of winning. A lot! No one goes to the casino to win $50. That’s way free bonuses are fun from time to time, but if you really want to have fun, you have no other way then to place your money on the line.
On top of that, the disappointment of hitting something big and not being able to withdraw is just too painful.