No Deposit Bonus Terms and Conditions
Regardless of which online casino you visit nowadays, you are guaranteed bonuses and freebies if you sign up for real money play. Bonuses have been very helpful in getting new players to sign up with online casinos. They are freebies, and everybody loves freebies. One of the most among these is the no deposit bonus. No deposit bonuses come in multiple forms, as we have discussed in another page on this topic. However, no deposit bonuses have specific terms and conditions attached to them.
In this page we will discuss the need for having terms and conditions for no deposit bonuses, what happens if we do not follow the terms and conditions set for the bonus, and then take a look at the different terms and conditions that are usually seen with no deposit bonuses.
The Need for Terms and Conditions for No Deposit Bonuses
Why do we need terms and conditions for no deposit bonuses, you may ask. After all, it is a bonus, and players are entitled to the freebies that the casinos offer. When the first online casinos were launched, there was the problem of casino farming. Lax rules associated with bonuses on offered caused losses to the industry; players would sign up, collect their bonuses, cash out, and move away. The casino would be left in the lurch as the bonus did not result in revenue for it.
The following are some reasons why the no deposit bonus terms and conditions are necessary for casinos to apply.
- To protect the casino’s business interests: The no deposit bonus terms and conditions allow casinos to ensure players deposit money to continue real money play. This minimizes or negates the risk of the player playing in real money mode with the bonus provided by the casino, cashing out the winnings, and moving on to the next casino.
- To provide a level playing field: All players get a standardized form of play policy. It does not matter how much you deposit or how much you win. At the end, you make money from your winnings, the casino makes profit from the fact that players are depositing their funds and playing the games provided.
- To stabilize the disbursal of wins: Imagine if every now and then a player invested $30 and walked off with a $100,000 jackpot. The casino would have serious financial issues. The terms and conditions for the no deposit bonus, and indeed for all other bonuses, ensure that the casino makes enough money not to be too adversely affected by the jackpot win that springs up every now and then.
- To prevent malicious elements from exploiting the bonus: The terms and conditions ensure other players do not suffer because of the misadventures of a few malicious elements.
Different Terms and Conditions for No Deposit Bonuses
The different terms and conditions associated with no deposit bonuses include:
- Wagering requirements: The amount of money you have to wager to be able to withdraw your winnings from the bonus.
- Bonus rules: Rules that govern how different bonuses can be used.
- Withdrawal rules: Rules that determine how often and how much you can withdraw from the winnings from the bonus deposited in your casino account.
- Maximum cashout policy: The maximum amount that the casino allows you to withdraw from the total money you won with your no deposit bonus.
Terms and Conditions for the No Deposit Bonus: Wagering Requirement
The wagering requirement is a critical part of the terms and conditions of the different bonuses that online casinos offer, especially the no deposit bonus. Also referred to as ‘playthrough requirement’, it ensures the casino is padded up to withstand any potential loss.
- The wagering requirement, as the term suggests, is a sum of money that you need to wager to be able to free up your bonus or winnings accrued through the no deposit bonus.
- It is usually a multiplier that is based on the initial amount you deposit. In the case of the no deposit bonus, since you do not deposit any amount at the time of using this bonus, it is a multiplier based on the amount offered as a no deposit bonus or more likely, the winnings earned through the bonus.
- The wagering requirement contributes to the casino’s profitability: you have to wager a substantial amount of money to be able to cash out or deposit into your account a capped amount from the total amount you won with the bonus.
- It is important to know what the wagering requirement is for a particular no deposit bonus so you do not end up forfeiting your winnings from that bonus.
- If you do not fulfill the wagering requirements laid down by the casino, you could:
- Lose the money you won through the bonus.
- Be accused of bonus abuse.
- Have your casino account suspended, in which case you would lose whatever amount you won at the casino overall.
Calculating the Wagering Requirement for a No Deposit Bonus
The wagering requirement is usually laid down by the casino as a multiplier based on:
- The amount given as the no deposit bonus: You need to wager an equivalent of the base amount multiplied by the wagering value that the casino decides to be able to withdraw winnings earned through this bonus. So a 50x multiplier for a no deposit bonus of $10 means you need to bet at least $500 before you can withdraw your winnings.
- Winnings earned through the no deposit bonus (if it is a free spins with no deposit bonus or a free play with limited time bonus): In this case, you need to wager your winnings the required number of times as specified by the casino to fulfill the wagering requirement. So a 40x wagering requirement means you need to wager the value of your winning amount – assume it is $5 – 40 times, i.e. $200 in all, to be able to cash out a capped portion of your winnings.
The bonus rules are in place to determine how you can use a no deposit bonus. These rules give shape to the bonus policies of the casino. They also help deal with multiple, sometimes tricky situations. For instance, say you have just redeemed a no deposit bonus. And just as that is happening, you are offered another one. Would it be pertinent on the casino’s part to let you jump directly to redeem the second no deposit bonus? The bonus rules help resolve tricky situations like that. In this case, some casinos do not allow you to directly redeem the second no deposit bonus. You have to make a deposit first.
Every casino has a rule about the maximum win amount possible when using a no deposit bonus. This is because the no deposit bonus allows you to play with money the casino provides as a freebie, and the casino exercises some control over how much money from the total win earned through the bonus you can actually cash out or use as money to fund your further play.
- The maximum win amount is usually a percentage of the total amount won with the no deposit bonus.
- This amount can be redeemed or added to your casino account only after you have fulfilled the wagering requirements associated with it.
- Apart from fulfilling the wagering requirement, casinos also require you to deposit a minimum amount into your casino account to be able to use this win amount.
Casinos also have withdrawal rules in place to ensure that all withdrawals happen in a streamlined manner.
- Different free bonuses come with different withdrawal limits.
- Usually, most casinos have withdrawal rules to ensure that player withdraw in proportion to what they deposit.
- In the case of no deposit bonuses, the withdrawal is based on the free money provided by the casino.
- Withdrawals are allowed only through the withdrawal methods chosen earlier.
- Withdrawal facilities are provided only to real money account holders.
- Withdrawals are allowed only at specific regular intervals; random withdrawals are usually not possible.
The Consequences of Breaking the Withdrawal Rules
The withdrawal rules are in place to ensure an ordered withdrawal process. It is only natural that breaking the withdrawal rules will invite penalties. The penalties include:
- Steps against you for abusing the casino rules.
- Forfeiting the entire amount won.
- Suspension of the casino account, which means you cannot play at that casino again and also would lose whatever funds are there in your casino account.