One of the Holy Grails for all online casino players is finding free cash simply for signing up without the need to spend a single cent in the form of a deposit. This is the no-deposit bonus. It’s a bit like finding a C$10 note down the back of the sofa – something unexpected but totally awesome! However, you’ll have probably seen that not all casinos offer this freebie.
Although virtually all online platforms offer generous welcome bonuses, the no-deposit bonus is relatively rare. This begs the question: why do some casinos dish out these amazing offers, whereas others stick to more traditional bonuses? Let’s have a look at some definitions to uncover some iGaming industry secrets to help you find the best no deposit bonus casino Canada has to offer.
What is a No-Deposit Bonus?
It’s exactly what’s written on the can. A bonus that’s given out without having to make a deposit with any money. Normally, it’s a relatively small amount of free cash or a handful of free spins. The general idea is to give you a taste of the casino before you make a financial commitment.
According to gambling expert, James Segrest, “For online casinos, a no-deposit bonus is a powerful marketing tool. It’s designed to remove the fear of losing real money. This can be a make-or-break selling point, especially for cautious players.”
As a player, the benefits are obvious. You get to explore a new casino, try out some games, and potentially even win some real cash. And all without opening your wallet, filling in your credit card details or even sending an e-check. Yet for the casinos offering these rewards, the decision isn’t as simple.
Why do Some Casinos Offer No-Deposit Bonuses?
As a Canadian player, discovering a no-deposit bonus offer is a win-win. You don’t have to spend a cent, yet you still have the possibility of landing some wins. However, for a gaming platform, a no-deposit bonus is a strategic move. Here are the principal reasons why online casinos choose to offer them:
- They Attract New Players – With so much competition between online casinos to attract new players, the no-deposit bonus can be a deciding factor in whether a new player eventually signs-up or not. In many ways, it’s similar to the grocery store marketing of “try before you buy.”
- A Way of Building Trust – The casino needs to be pretty sure it has a first-class gaming platform, as it’s confident in converting players into paying customers after a small taste of what’s on offer.
- Encourages Future Deposits – By skipping an initial deposit, the casino hopes you’ll have a good enough experience to make a cash deposit in order to continue playing.
As James Segrest, a member of the CasinoOnlineCA team, explains, “No-deposit bonuses are like a first date. They’re a low-pressure way to see if you and the casino are a good match.”
Why Some Online Casinos Avoid No-Deposit Bonuses
Unfortunately, not all casinos are aboard the no-deposit bonus train. In fact, the majority choose to skip them altogether. Let’s take a look at some of the reasons:
- High Costs – As a no-deposit bonus is free money, it can be a very expensive promotion. If players don’t stick around after blasting through their bonus, then the casino loses money.
- Risk of Abuse – Some sneaky players make multiple accounts to claim a number of bonuses. In order to get ahead of this, casinos have to spend considerable time and money setting up strict verification processors.
- A Move Towards Loyalty Programs – Many casinos prefer to reward returning players through tiered loyalty programs. As such, they stick with deposit bonuses at the beginning.
The Pros and Cons of No-Deposit Bonuses
We suggest you weigh up the pros and cons of utilizing a no-deposit bonus before jumping in head-first.
Pros:
- Risk-Free Fun – Have a great time without spending a cent.
- Try Before You Buy – Take a new casino for a spin to try out its games and features.
- Winning Potential – Yes, you could walk away with some real money wins.
Cons:
- High Wagering Requirements – All no-deposit bonuses come with very steep wagering requirements, as the casinos tend to drag their feet when it comes to paying out winnings.
- Game Restrictions – Many bonuses, especially the free spins, are limited to selected games.
- Low Maximum Withdrawals – On the whole, you won’t be able to cash out any big wins as there’s a cap on total winnings stemming from the no-deposit bonuses.
Understanding the RTP and Wagering Requirements
Without a doubt, these are the two most important terms you’ll need to fully understand when it comes to no-deposit bonuses.
RTP (Return to Player)
The RTP is the amount of your wager you can expect to see returned to you in the form of winnings. For example, let’s take a slot machine that offers an RTP of 97%. This means that (in theory) you’ll receive C$97 back out of every C$100 spent. To that end, it makes sense to stick with games boasting the highest RTPs.
Wagering Requirements
You’ll find this number often hidden within the terms and conditions of the bonus. It’s the number of times you’re mandated to play through your bonus before being allowed to request a withdrawal. For instance, if you received an initial C$10 no-deposit bonus, with a 20x wagering requirement, you’d need to wager a minimum of C$200 before you can cash out.
Other Limits
We recommend that you carefully read the small print of any Canadian-facing gaming platform that’s offering a no-deposit welcome bonus. You may find things like game restrictions, low betting limits, and strict time limits. All things that might cramp your playing style.
How to Find the Best No-Deposit Bonus Online Casinos in Canada
We’ve put together some tips to help you find the best no-deposit bonuses in Canada.
- Read Online Reviews – Sites like CasinoOnlineCA feature the latest reviews of Canadian casinos. In fact, this is a great place to start your search. Not only do they highlight all a casino’s bonus offers, but also go into considerable depth to ensure it’s a safe platform.
- Check other players’ opinions – Once you shortlist some casinos, it won’t hurt to check what other players have experienced on the sites you’d like to register.
- Compare Bonus Offers – Yes, we’ll be the first to agree that jumping at the first offer is a real temptation. But don’t settle on the first no-deposit bonus you come across. Keep in mind that other offers might come with more friendly conditions.
Final Thoughts
Nothing beats a no-deposit bonus as a means of dipping your toes into the world of online casinos. The fact that this reward comes with zero risk on your part is their standout feature. But it’s still important to remember that they also come with a fair share of drawbacks. That’s why you should always make the effort to read through the site’s terms and conditions. This will help you sort out the best bonuses, as opposed to facing possible disappointment when it comes to cashing out any winnings.