What is a no wager bonus?
The bonuses in many online casinos come with wagering requirements that severely limit the amount you can withdraw. To fulfil these requirements you need to play through your bonus amount a certain number of times and deposit cash before can withdraw your winnings as well. They’re often quite tough for the players to get through and this is why they always look for ways to avoid them.
No wager bonuses free them from such wagering requirements. You’ll come across quite a few ways of claiming such bonuses in online casinos. Most of the online casinos offer a welcome package to encourage new players to sign up with them. A no wager bonus can be a part of this package and might require you to use a promotional code to claim it.
It can also come in the form of free spins that can be used to play a select number of games. However, you’ll also find no wager bonuses being offered in the form of free cash bonuses or free chips. Some of the online casinos offer no wager bonuses as a cashback bonus. It refers to a percentage of your losses that comes back into your account as bonus money.
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How no wager bonuses work
Most of the casino promotions have their terms and conditions that players must follow when using the bonuses. They also include wagering requirements that need to be fulfilled before the withdrawal of the bonus amount. This is where a no wager bonus comes to the rescue of players.
The term is self-explanatory. Players don’t have to go through the wagering requirements. What this really means is that you get to keep the entire amount of bonus that you win by playing the games listed under the offer. Despite the benefits, there are certain things that you need to look out for.
The online casinos will, of course, try their best to protect themselves from losses when they introduce such offers. Mostly they have a maximum win limit in this case, which means they can do away with the jackpots for the new players.
To qualify for the no wager bonuses, you don’t need to do anything in particular. Most of the online casinos won’t even require players to make deposits into their account. Of course, they’ll want the players to play more games after signing up with them.
How to take advantage of a no wager bonus
You must find the right online casino that offers no wager bonus and you can claim it in a few steps that are relatively easy. There can be several options in this type of bonus. So, once you’ve come across such a casino, you’ll need to decide which of the no wager bonuses you want to have. The next step would be to see whether there’s a special code to claim the bonus.
If you feel you’re confused at this point, contact the casino’s customer support before you sign-up and place your first bet. A minimum amount of deposit may be required according to the terms and conditions. Usually, a higher amount of minimum deposit fetches a higher bonus for the players. The only thing that they need to confirm is whether it’s a fixed amount.
Make sure the payment method you’re using is accepted for the no wager bonus offered by the casino. Some of the online casinos have country-specific payment methods for claiming such offers. The moment you claim your no wager bonus, you can play the listed games. To withdraw your winnings, you’ll need to request a cashout using the payment method you prefer.
You can then use the amount you’ve won to continue playing the games. Since the no wager bonuses present a risk of relatively higher loss for the casinos, not many of them will have such offers. In case you’re having problems finding an online casino with no wager bonuses, you can go for a good alternative.
Usually an excellent option in such situations is a low wagering casino. In these casinos, you’ll have greater chances of walking away with a good cashout by playing through the bonuses up to 20 times. This would be a lot better than the casinos having a wagering requirement of above 40x.
What to look for in the casino’s terms and conditions
Just like all the other bonuses in online casinos, no wager bonuses are also subject to terms and conditions. Some of them are common in all the casinos. While they usually have no playthrough requirements, there are certain things that you need to look for before you decide to sign up.
Among the most important points in terms and conditions of the casino is the minimum deposit. You’ll need to deposit a certain sum to claim your no wager bonus most of the time. Many of these bonuses are small and only require you to deposit a minimum of $10 or $20. If you come across a larger bonus offer, it would generally involve higher deposits.
Such bonuses are also capped at a certain amount. For instance, if you deposit $50 for a bonus of 100% up to $25, you’ll only have an additional $25. The calculation is $50 deposit + $25 bonus = $75. It is also important to remember that the amount of these bonuses are often fixed.
When it comes to a no wager bonus, some of the online casinos have a set limit of bonus withdrawals. They place a limit on how much you can cash out from your bonus wins. Look for the specific amount of winnings that you can withdraw in the casino’s terms and conditions.
Generally, the no wager bonuses can be used on any game. However, there are some online casinos that specify the games that are covered under this type of bonus. Although they mention it in their online promotions, you must check the terms and conditions if it’s not specified.
The policies and terms of the promotion might place a limit on how high your bet can be while using this type of bonus. If the casino you’ve chosen has such a limit, you must be careful not to bet higher than the allowed maximum limit.
Make sure the no wager bonus offered by the casino allows the payment method you’re using. In some online casinos, payment methods such as Neteller and Skrill might not be allowed in the offer. It is also important to check whether your payment method entitles you to get a higher bonus.
Check if the casino allows you to have more than one active bonus. If it doesn’t, you must play through your no wager bonus before you claim another offer. You might lose the first one if you try activating a second bonus in this case.
How to calculate no wager bonus value
Let’s say your no wager bonus is a 100% match on your first deposit. Now, when you sign-up with the online casino and make a deposit of $50, you’ll get another $50 from the casino. So, the total balance in your account becomes $100. According to the terms and conditions, you can only cash out your deposit and not the casino bonus amount.
Now if this involved a wagering requirement of 45x, you’d have to wager $50 x 45 = $2,250. This means you’d have to spend $2,250 within the specified time period of wagering if you were to cash out the balance. However, with no wager bonus, you can withdraw $50 right away without having to wager $2,250.
This is why most of the online gamblers hate wagering requirements of casinos. For many players $2,250 would be a significant sum. This would make them leave the casino and look for another one with a better offer.
Is a no wager bonus worth it for a player?
There’s no denying that no wager bonuses are among the most attractive bonuses that online casinos can offer. Unlike the other regular bonuses, a no wager bonus usually has no strings attached. This means you get to keep the entire amount you’ve won under this type of bonus.
The only major aspect of this bonus is that you need to be aware of is the maximum cashout that the casino allows. As these bonuses don’t require you to fulfill any wagering requirements, you can withdraw your winnings the moment you finish playing. You can also deposit the funds back to your account on the same day if you wish to.
Another reason why such bonuses are a big hit among the online gambers is the fact that there are no complicated policies and hidden terms. You only have to check the amount you need to deposit in order to claim your no deposit bonus. Many players across the world find the wagering requirements of casinos overwhelming and might even switch to another casino as a result.
This is why it is one of the best offers that the online casinos can promote to make their players happy and retain them. By doing this, they’re bound to witness an increase in the number of deposits from players who choose to continue playing.