No deposit bonus

A no-deposit bonus is a small promotional credit (free spins or bonus dollars) given for completing registration — no deposit required. Typical sizes: 20-50 free spins, or $5-$25 bonus credit. The catch is in the conversion rules.

Almost all no-deposit bonuses come with: a high wagering requirement (often 40-50x), a cap on how much you can convert to cash (commonly $50-$100 maximum withdrawal even if you wager more), and bonus expiry within 7 days. The realistic expected value is low — they're acquisition mechanics, not free money. Use them to test the platform, not as a profit strategy.