A no deposit bonus is exactly what it sounds like — a bonus that does not require an initial deposit. Think of it as a trial bet at online betting sites. If a bettor's wager wins, they get to keep the winnings, subject to the agreed upon terms and conditions. If they don't, then there is no downside since players haven't put up their own money yet.
It's no surprise that a no deposit bonus is a truly-risk free online betting bonus that attracts bettors like bees to honey. After all, a no deposit bonus lets bettors go through the process of making a bet on the betting site of their choice, which will let them decide if the betting site is worth sticking to.
Given that bettors have all the upside and the betting site carries all the downside, no deposit bonuses are becoming rarer and rarer since it can be quite expensive for bookmakers to fund.
Some betting sites tend to offer more free bets or a betting deposit bonus rather than no deposit bonuses. If one is available, it can be gone quickly since it's usually available for a limited time or for a limited number of customers.
No deposit bonus wagering requirements
Of course, betting sites won't give away no deposit bonuses without any requirements. Here are some of the requirements or restrictions that players need to meet in order to be able to withdraw their earnings from the no deposit bonus.
Firstly, bettors will need to create an account with the betting site. More often than not, this includes completing the KYC (Know-Your-Customer) procedure which requires bettors to submit documents that will verify their personal information.
Unlike the many bonuses that betting sites offer, there is no initial deposit or first bet requirements for claiming a no deposit bonus.
Another requirement that most betting sites impose on a no deposit bonus is a clearing period. Once the bettor claims the no deposit bonus, the countdown between the range of 7 to 30 days starts. The clearing period limit is not usually an issue for most, as it is often used almost immediately.
Turn no deposit bonuses tnto real money
Turning a no deposit bonus into real funds is extremely straightforward. Once players have claimed the no deposit bonus, all that's left for them to do is to study the existing odds and place their bets. However, there may be stipulations in the terms and conditions that may stop a player from making real money out of a no deposit bonus.
It's simple to determine whether a bettor's geographic location qualifies them for a no deposit bonus. In the terms and conditions of the said bonus, betting sites will normally list the country or countries where the free bet can be redeemed.
If no regional limits are specified, it's reasonable to assume that the free bet is available worldwide.
Playthrough requirements normally mean that bettors must place a certain number or value of bets before cashing out their free bet winnings.
The simplest way to calculate the value of a no deposit bonus with this requirement is to multiply the bonus by the number of needed turn-overs or wager the total value of the no deposit bonus with the bettor's own funds.
Maximum win restrictions
Since no deposit bonuses are technically free money that the betting site gives away, there are limitations on how much a bettor can earn. Here's an example:
Suppose that the bettor claims a $100 no deposit bonus. After a few games, the bettor now has $2,300 on their funds and has cleared the wagering requirement set in the term of conditions. If the no deposit bonus states that the win limit is $2,000, the bettor can only withdraw that amount and lose out on the $300 excess.