The main attraction for joining an online casino is the welcome offer. Many of today’s online casinos offer alternative welcome offers, including instant credits with bonus spins, or loss-back credits to cover first-day net losses. While these welcome offers are generous, they do require a minimum deposit to get started.
To seal the deal, the top online casinos offer a no-deposit bonus. Just like the name suggests, a sign-up bonus doesn’t require a direct deposit. However, like with any bonus, there are terms and conditions that must be met. So, in the end, which one is actually better? That’s for you to read to find out.
Why No-Deposit Bonuses are So Persuasive
A no-deposit bonus, also known as a sign-up or free bets for online sportsbooks, is a casino promotion where plays can play without a direct deposit. The incentive is the chance to win real money. These offers are granted nearly exclusively to new players once their registration is complete. However, some online casinos and sportsbooks might offer a no-deposit bonus for reaching a new level in the VIP club.
For the player, no-deposit bonuses are the ideal promotion, especially since they are rare to get. For the online casino, they come with very low risk, because they can gain new members with a good chance that the no-deposit bonus doesn’t turn into a winner.
Why the Deposit Match Bonus Is the Standard
Deposit bonuses are one of the most common online casino promos. This promotion type is played out once a player makes the minimum deposit. The standard deposit match is 100% up to a certain amount, usually $1,000. Some online casinos have deposit match bonuses for the second and third deposits. However, most stop after the first.
Deposit match bonuses benefit the online casino, because they get funds upfront. To qualify for the full $1,000, a new member must deposit $500, which is matched 100% by another $500. Once this happens, these bonus credits are immediately available in the new player’s account to begin using them. Some deposit match offers include bonus spins for a specific game or for a group to further get new players to buy in.
The Drawbacks of No-Deposit Bonuses
The first obvious drawback is their availability. Very few online casinos support a no-deposit bonus, so the odds of finding a decent deposit-match bonus or loss-back credits, for example, are much higher. Another drawback of sign-up bonuses is that they are very small. The typical no-deposit bonus is between $5 and $25.
They also come with more gaming restrictions. It’s not common for these sign-up bonuses to apply to jackpot slots or the latest live dealer games. To compound things, many non-jackpot slots also don’t qualify. You are also hard-pressed to find favorable wagering requirements. Many no-deposit bonuses carry a playthrough requirement of over 25x.
Assuming you win bonus funds, the average time to use these bonus winnings is seven days. Other welcome offers give new members two weeks or more.
Why Deposit Match Bonuses Get the Edge
Because deposit-match bonuses are widely available, they normally have much lower playthrough requirements. Some online casinos offer a 1x playthrough; however, the average is 5x to 15x, which is much more alluring than the no-deposit bonus.
Deposit match bonuses also have in their favor more eligible games. Being able to play more of the highest RTP slots helps to give deposit-match bonuses the edge in this regard. High RTP slots increase the odds of getting a payout. As an added perk, deposit match bonuses often earn reward points.
Even with the best gaming strategy, we’re not always going to win. However, with enough deposit-match credits, you can benefit from the loyalty club. Most eligible slots count 100% towards meeting the bonus terms and offer the most reward points, making it a great two-for-one. With enough reward points, you can earn discounted bets down the road.
Conclusion
Even with stricter wagering requirements and a lack of availability, no-deposit bonuses are worth trying because of the chance of building up your budget without additional up-front bets. At the very least, you can try out many of the eligible games to see if you want to wager real money on them. If the online casino offers both, you have no choice but to take them both up. In this case, focus on the highest RTP games, have a budget, and see what happens.
I’m Leo Knox, the wordplay wizard behind WordsTwists.com where I turn everyday meanings into funny, clever, and creative twists. If you’re tired of saying things the boring way, I’ve got a better (and funnier) one for you!
