December 15th, 2022 | Updated on May 27th, 2024
Milton Friedman was right, there’s no such thing as a free lunch. In the world of online casino gaming, we can substitute free money for free lunch.
We’ve all seen the bonus offers tempting us to step in through the doors of a new casino, and when you see something like $10 or 100 free spins being handed out with no deposit needed – well, it definitely smells like a free lunch.
The Wagering Requirement
The catch is invariably the wagering requirement. Now everyone wants to play online casino and win real money, but it is understandable that if a US casino puts a $10 deposit in your casino account when you join, you can’t just withdraw it and go buy a sandwich and a coffee.
You have to spend it in the casino. That would equate to a 1x wagering requirement. But no deposit bonuses often have a wagering requirement of 30x or 50x or more.
A $10 bonus with a 50x wagering requirement means you must get $500 of wagers out of those $10 and whatever monies you win from it.
Often, you will burn it out in no time flat. But just occasionally, someone gets lucky. A big win early on can give you a chance to beat the house and enjoy your free lunch after all. But you have to play it smart.
Check The Rules / Eligibility
Almost all bonuses are restricted to specific games or types of games. Typically, playing slot games contributes towards the wagering requirement but table games do not.
Some casinos go half way, and wagers on table games count 50% and slots 100%. There are no industry regulations on this topic, it is up to the casino to decide the rules and up to you to read and understand them!
Choose The Right Game
Obviously, your first priority is to make sure you are playing a game that is covered by the bonus and that contributes towards the wagering requirement. We will assume that you are restricted to slots as this is a common condition among no deposit casino bonuses.
We will also assume you can choose from a range of slots, as if not, there is no decision to make. It is always a good idea to choose a slot with a high RTP, but it is also important to think about volatility.
Low volatility means a tendency towards small payouts at regular intervals. High volatility slots can spin and spin giving out practically nothing, but when they do occasionally deliver, the payout is higher.
Both have their place in our bonus scenario. Low volatility is the conservative option, but as mentioned earlier, your best hope with a large wagering requirement is to try for a big win with a high volatility game like Dead or Alive 2 or Bonanza.
It probably won’t come off, in which case you have lost nothing. But if it does pay out, that is the moment to change to a low volatility game like Starburst or Gemix.
Now, the frequent small payouts give you a chance to work through the wagering requirement and still have some winnings left to withdraw and spend on that well-earned lunch.
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