Learning How No Deposit Casino Bonuses Work
Bonus and promotional offerings today are a staple of every online casino in Australia, and all operators regularly give out offers to attract new customers, as well as to retain existing ones. Among the myriad promo offers in the market today, the no deposit bonus is probably the most popular one among players. This type of promo is exactly as the name suggests - it gives you the ability to play pokies and other casino games for free, without needing to make a deposit. However, not a lot of people are fully aware of the mechanisms behind this type of bonus so a valid question to ask is - how do no deposit bonuses work?
Types of No Deposit Bonuses
The target market for these promotions is primarily new players who are either looking to test the waters of a casino before wading in or those who are just looking to enjoy the real-money thrills of casino betting as a one-off. This promo is a benefit to new players and helps them get a feel for the site, with the possibility of making a bit of cash on the side. However, keep in mind that this is NOT a way to make a lot of money in the casino - for that, you will need to make a deposit onto the site. These bonuses are just a small token given out as benefits to players, new and old, by all good online casinos in Australia. The bonus is credited to players in one or more of 3 basic forms:
- Free Spins: Casinos generally give out anything from 10 to over a 100 free spins for use on select pokies on the site.
- Free Cash/Credit: Players get a small cash credit (usually around $10) to use for wagering on pokies as well as other games like blackjack and roulette.
- Free Play: Players get free credits (usually worth a few hundred dollars) with a time limit (typically 30 minutes to an hour) within which to spend the amount.
These offers are meant primarily for new registrations - however, they are also often given out to regular players as a loyalty reward. For new players, claiming the promo is easy - normally, all one needs to do is register an account and the promo is credited to your account for immediate use. Sometimes, an alphanumeric bonus code may also be required during the registration process (or just after registration is complete) to activate the bonus. The "Promotions" page of every online casino has details on how to get this bonus, or you could contact customer service for instructions on how to avail of their existing offers. The free credit coupon value is added to the Balance and you must use it as per the terms and conditions for a while before it gets transferred over to the Real Money Balance and can be withdrawn.
How Do No Deposit Bonues Work?
Free signup promos are a win-win for both casinos and players. While player's get a free shot at playing the various pokies and games in a casino, the operator too benefits by getting potential customers through the door which may translate into future deposits and earnings for them. One might wonder - how do free signup promotions work? Is it possible for players to win a huge jackpot using these free funds? Won't casinos lose money in the long run if they keep giving out free money to every new player?
Casino promos are good for both players and casinos. The great benefit for casinos is obviously customer acquisition, and promos are a small price to pay to get a new player on to their site. Online casinos internally call this an "onboarding cost" - i.e. the cost associated with player acquisition. They don't mind paying a small sum as benefits to new players if it means greater revenues for the casino later. Every bonus has strict terms and conditions attached to it which ensures that players will not be able to win a huge amount using these promotional offers - the actual withdrawable amount using these free promotions, if you get lucky, will almost always be in double digits or at most a bit more than one or two hundred dollars. These kinds of free promos are not about making money - they are more geared towards giving players a free fun ride at the casino. In other words, it's a free lunch, but a light one.
Terms and Conditions
You might still be wondering - how do these promos work? How do casinos not suffer big losses by giving out so many free shots at their pokies? Well, as one might expect, there are strict terms attached to every reward, especially the no deposit variety. While the bonus credit, and playing with them is the easy and fun part, withdrawing or cashing out the funds requires some conditions to be fulfilled. So, in the end, casinos don't actually end up paying out to every customer, and certainly not a huge amount. Different casinos have different terms and conditions but in general, they mostly have the following headings:
- Playthrough or Wagering Requirements: This is probably the hardest condition to meet and refers to the minimum amount of gameplay that customers must play before they can cash out their winnings. This usually takes the form of a multiplier of the promo amount. For example, if you were given an amount of $10 and the playthrough was set to 30x, this means that you must place bets totaling $300 and still have money left after that if you wish to withdraw the funds.
- Game Restrictions: Usually, only a select few games are eligible to be played on using credits. These are typically games with low RTP (or Return to Player) rates where the odds of winnings aren't as high as some other games. Additionally, the maximum amount that one can bet using free funds is capped - so, if you get $10 of free cash, you can't wager it all on one bet and hope to get lucky. You will need to spread the betting across multiple bets to satisfy the criteria of a maximum bet amount cap.
- Winnings Cap: This restriction ensures that you can only withdraw a limited amount as a result of winnings from promo funds. This amount can be anything from $50 or a bit lower, to $200 or a bit higher, depending on how lucrative the offer is. So, even if you win the jackpot, the actual amount that you can withdraw is limited.
- Expiration: Most offers es must be used within a set time-frame after issuance. This is usually 1 week to a month, and all promotion amounts will expire, and cannot be used or withdrawn after the end of this period.
- Withdrawal Requirements: You must be a fully KYC verified account (in other words, you will need to provide identity documents) to make a withdrawal. Additionally, some casinos require a small deposit to be made before winnings can be cashed out, even if the reward was part of an offer that does not require any deposit.
How do free signup promos work? This is an important question to know about, and while players enjoy the rewards, not many have a full understanding of how this kind of promotional offer works. It is important to read and understand the terms of every offer before going into it, and also to manage expectations of what one hopes to achieve by using these free credits. In general, this is a great offer for both operator and customer alike, and should not be missed out on by any player.