The main part of the terms and conditions that players have to pay attention to is the wagering requirements. These also vary with different no deposit bonus casinos and must be considered before accepting a no deposit casino bonus.
No Deposit Bonus Wagering Requirement
The wagering requirement is actually a multiple of the bonus that a player should wager in real money before they can withdraw their winnings. It is critical to understand how it works before accepting the deal.
A no deposit bonus is a reward given without requiring a player to load any money into their account. It is most often given to new players who sign up in an online casino.
The wagering requirement is the multiplier that indicates the total times you can play any casino games before getting approval to withdraw your winnings.
For instance, if you get a $10 bonus with a 10X wagering requirement, you must spend $100 of your own money on wagers before you can withdraw any winnings you get from playing using the bonus.
What is the Purpose of a Wagering Requirement?
It is a legal requirement aimed at curbing fraudulent transactions such as money laundering. Therefore, when players use bonuses and make cash deposits more than expected, live casinos will require them to achieve a wagering requirement before allowing cash withdrawal.
However, wagering requirements vary with different live casino games. Some have a smaller percentage compared to others. For instance, roulette games contribute less wagering requirement percentage in comparison to slot games.
What Does No Wagering Mean?
A wager means placing a bet on any online casino game such as:
After claiming a bonus from the online casino, you receive bonus cash instead of online casino real money. For instance, if the casino gives you free spins, any winnings you get after using them are paid as bonus money.
It means you cannot withdraw bonus money till you can complete the wagering requirement. Therefore, the bonus cash remains in a different wallet and remains attached to a wagering requirement.
Wagering requirements can be hard to complete making it challenging to withdraw real money. No wagering requirement means that free bonuses or spins that you receive do not have bonus requirements attached to them. A player keeps all the funds won.
You can withdraw real cash at any time without any conditions. Although online casinos with no wagering requirement are few, they are becoming popular. There are no terms and conditions on casinos that offer no wagering bonuses!
Wagering requirements are the number of times that the player has to bet on each bonus amount. For instance, if the wagering requirements at a certain live casino are x20, to receive a $10 bonus players have to make bets up to the value of $200 before they can withdraw anything.
So, in order to withdraw a live online casino no deposit bonus without depositing any additional money, they have to win with their initial $10 bet and keep winning all the way up to $200.
There can also be a withdrawal limit with the specific casino, so players must check these before signing up for any no deposit bonuses.
Time Limits for No Deposit Bonus
If the players don’t meet the wagering requirement before a specified time limit, the offer expires and all winnings are forfeited. This is how no deposit bonuses work, and it is the game that players have to play in order to win the free money.