“Get $ 300 free – no deposit required”, the ad from online casino site says. Many internet casinos offer this type of bonus called No deposit casino bonus to new players. The condition is that you have to be a first time member on their site.
The promise of free cash never fails to get people’s interest. But are they really free money? Can a player really leave the casino with a wad load of cash using this kind of gambling bonus? Let’s have a deeper look at the truth about the free bonus promotions at online casinos.
Do not think for a moment that online gambling sites would give away free money unless it benefits them. After all they are businesses. Their main purpose is profits. So why would they offer these promotions?
Firstly, they know that many people would join their site as a result of it. And a good percentage of them would stay on to become depositing players who will contribute to their income.
Secondly, and most importantly, the free money they promise have certain rules. This rules makes it very hard, if not impossible, for any player to win from the promotion. So simply put, this kind of free bonuses might be nothing more than a ‘promise of free cash’.
This no deposit needed bonus offered by online casino sites have rules, certain requirements. It concerns the cash-out of winnings. Of course, the free balance given in the account will let you play their games for free. But when a player wins from the bonus comes this rule. The rule is called Wagering or Cash out requirement(CR).
With this rule, withdrawing winnings is permitted only after the free amount is turned-over a number of times. It is usually given something like ’20xB’ that means 20 times bonus. Let’s take an example of a bonus of $25 with a CR of 20xB. A player has to make minimum total bet of 20 times the bonus, i.e. 25×20 = $500. Only if the player managed to still have available balance after betting $500 can cash out be done. Needless to say that this rule makes the chance of winnings very little. Wagering requirement differ from casino to casino. It can be anything from 10xB to 100xB.
The chance of winnings in casinos depends on what is called Payout percentages(PP). This is the amount of money that will be given out in the particular games as opposed to how much money is put in. It is given as a percentage out of 100. This is decided by the computer that controls the game and is set for a complete round or cycle. The cycle could be say like when $10,000 bet is completed or something like that. No one knows this but the computer. This percentage is always below 100(eg. 95%). The remaining percentage becomes the ‘House Edge’. That is the profit of the casinos.
Different games have different payout percentages. Online slots are usually around 95%, table games like poker, craps or blackjack can be higher at around 98%. It differs from casino to casino.
The reason we explain the payout percentage is because there are restrictions in the particular type of game that can be played using no deposit bonuses. Many online casinos will not allow the play of table games with this bonus because the PP is high i.e. the chance of winning is more. The ones that do allow will set the CR i.e. requirements higher. For eg. CR for slots 20xB, CR for Blackjack 50xB.
In conclusion, the reality is that online casinos offer no deposit required bonus for real. But the truth is that to win anything from it is not easy, if not impossible. The requirements or rules relating to cash-out of the winnings from this bonus is strict.