The Truth about No Deposit Casino Bonuses: You must deposit to win!
Online casinos are a great way to play all the gambling amusements you would expect to find at a land-based casino. They aren’t just easier to access, being available via desktop and mobile device. They also provide players with exclusive promotions that you just don’t find in bricks-and-mortar establishments.
One of the most sought after promotions are no deposit bonuses. They look awfully sweet, giving players the chance to wager on the casino’s dime without investing any of their own money first. But before you go running off looking for one, you need to know…
The Truth About No Deposit Casino Bonuses
There are two types of online casino no deposit bonuses. We’ll discuss them both briefly in a moment. First, understand that you must carefully read the terms of each bonus to see which type you’re dealing with.
Both will offer a small amount of free credits to players, without requiring an initial deposit. Both allow the player to wager with those credits, either on slot machines, or a mixture of all games. But this is where their similarities end.
No Deposit Bonuses w/ No Withdrawal of Winnings
The first type we’ll discuss is a no deposit bonus that allows the player to participate for free, but without permitting them to withdrawal any winnings derived from the bonus. No matter how much you might win from it, you can’t withdrawal it, period. You simply keep wagering until the bonus is all gone, or until it expires.
In order to win real money, you’ll have to make a deposit first. You may be able to claim a generous percentage-match bonus at this point, topping up your bankroll with more free credits that can produce real, cashable winnings. But the reality in this situation is that a deposit is required to win.
Cashable No Deposit Casino Promotions
This second type will allow players to win real money from no deposit bonuses. You’ll have to clear some excessive wagering requirements to do it, which means getting very lucky with your game play. But the casino will let you keep those winnings, or at least a limited amount of them. Withdrawals are often capped at $100 or $200 max. However, there’s still a catch.
In order to actually withdrawal those winnings, you’re going to need to…
~insert obligatory drum roll here~
…make a deposit!
Yes, here again we find that a player must make a deposit in order to receive the winnings from a bonus that was supposed to require no deposit. Well, the truth is, the bonus itself doesn’t require a deposit. It’s getting your hands on the winnings that does.
Why Do I Have To Deposit to Cash Out?
The deposit is required for two reasons. First, the casino wants to make sure you at least risk a bit of cash before they pay you. You can make a minimum deposit of $10, but you’ll need to play through it at least once before they allow a withdrawal. This reduces the risk for the casino, and more importantly, prevents them from being shut down by regulators for violating anti-money laundering rules.
The second reason is that the casino is required – again, by their regulatory body – to verify every member’s identity. If they pay winnings from no deposit casino bonuses, they could be catering to a minor and not even know it. In order to sustain a legal, licenced operation, they must verify a player’s ID first. And that means requiring a deposit, with legitimate identification, and proof that the payment method (outgoing and incoming) belongs to you.