Thankfully, long gone are the days when it was difficult to find a decent bonus offer. With the increase in popularity of online gambling, there are so many different types of bonuses out there. Free spins, wager free spins, no deposit spins, welcome offers, no deposit bonuses, cashback, and the list goes on.
The massive selection of bonuses on offer can even make the most regular players get confused. Not to mention the changes in terminology. You might think you know bonuses inside and out but when they are called something different - this could be where you get unstuck.
The most common type of deals on offer is known as ‘no-risk’ bonuses. We often hear of players getting confused when it comes to these. This is why we decided to debunk the myths and lay all the information out clearly for you right here.
So that when you decide to claim these bonuses, you’ll know exactly what they are and how they will work for you. With no confusion.
What is a No-Risk Bonus?
The most important thing to remember about these types of bonuses is that you use your cash balance first, then your bonus funds.
This keeps things incredibly simple and enables you to separate your own money from a bonus. It can get super confusing if your account balance shows a mixture of funds, making it difficult to keep track of your budget.
Some online casinos with quality will offer deals which ‘tie’ the bonus to your cash deposit. It means that even if you win with your real money you won’t be able to make a withdrawal until you have completed the wagering on the bonus.
This isn’t the case with no-risk bonuses. If you win with your cash deposit, you can make a withdrawal. But, this means that you will forfeit your bonus.
Tom decides to claim a no-risk bonus which he sees advertised as ‘Claim 100% up to £100’. Tom decides he would like to claim the full whack so he deposits £100 of his own cash and instantly receives a £100 bonus. His account balance will now state that he has £100 cash and a £100 bonus.
Tom can now head into the online casino and start to play his favourite games with his £100 cash. His bonus balance will stay exactly where it is until Tom has played through his real money.
If he gets lucky and wins with his own cash, the winnings can be withdrawn but it means that Tom will have to forfeit his £100 bonus funds. Yes, goodbye bonus money - but Tom still has his winnings from his cash deposit.
Let’s assume that Tom loses his £100 deposit. He can continue playing but now he is using his bonus funds. The bonus terms will then kick in and whatever wagering requirements will need to be met before Tom can convert his bonus money into real money. He may then decide to withdraw this or keep on playing with it.
Players often refer to these bonuses as a second chance to win. If like Tom, your cash deposit is used up then a no-risk bonus can provide you with more chances to win. Chances that you wouldn’t have had if you hadn’t accepted the deal.
This type of bonus also extends your gameplay. And even gives you the chance to try out new games that you might not bother with if you are using your own cash.
Are No-Risk Bonuses Available in the UK?
Players in the United Kingdom should have no issue in finding a no-risk bonus to claim. The UKGC changed the legislation for UK casinos that only these types of bonuses are available. Of course, you may still claim other varieties of bonuses such as free spins etc, but they acted to remove the deals which tie a player's deposit to a bonus.
UK no-risk bonuses offer players simplicity, clarity, and can be a safer choice. International players will also be able to claim these types of deals, they aren’t restricted to the UK only.
No-risk bonuses separate your cash deposit from the bonus funds
You will always play with your own cash first
You can make a withdrawal of winnings from your real money, but this will forfeit the bonus
Once your real cash is played through you will start to play using the bonus
No-risk bonuses are readily available for UK players
Your cash deposit is not tied to the bonus
Can be seen as a second chance to win