How to Find Out What Casino Bonuses Are Really Worth

  • DON’T claim a bonus just because it gives you a lot of free spins or bonus credits.
  • DO use our easy-to-follow guide to find out exactly how to find the real value of a casino bonus. 

Our article will illustrate precisely how to: 

  • Boost your chances of winning real cash. 
  • Compare bonuses that look similar. 
  • Ensure you don’t breach the terms of your casino bonus. 

Types Of Casino Bonus

Casino bonuses come in many different forms. How you work out how much your bonus is really worth depends on what kind you get. 

There are two different kinds of casino bonuses: 

  • Deposit Bonuses – You have to make a deposit to claim this type of bonus.
  • No Deposit Bonuses – This is a free bonus that does not require a deposit. 

Let’s go over each type of bonus individually and explain what’s good and bad about them.

Free Bonuses

Credits with No Deposit

New players at online casinos can get bonuses without making a deposit. 

Instead of making a deposit, you simply have to register a new account at the casino. 

Once you successfully register with the casino, you will receive bonus credit. 

With bonus credit, you can play slot games, keno, bingo, and sometimes table games (though table games usually have a lower game contribution). 

While bonus credit looks like real money, it is better to think of it as a voucher or a coupon that is only usable at the casino. 

Despite this, you can still win real money with no deposit bonuses providing you meet the T&Cs.

Pros

  • Play Casino Games For FREE – No deposit bonuses do not require you to make a deposit at any stage. They are a 100% free trial.
  • WIN REAL CASH – Simply fulfill the terms and conditions and a portion of your bonus winnings can be withdrawn.
  • Adjustable Bet Size – Take more control over your gambling session by altering the bet size.
  • Game Restrictions – Bonus credits have few game restrictions. You can usually play a wide variety of casino games.

Cons

  • Terms & Conditions – You can’t win real cash unless you meet the T&Cs, which can sometimes be difficult.
  • Limited Value – As it is a free bonus, you aren’t likely to get as many bonus credits as you would claiming a deposit bonus.

Free Spins with No Deposit

The only other kind of free bonus offered by online casinos are no deposit free spins bonuses. 

These work almost identically to regular no deposit bonuses, though there are a few key differences:

  1. You will receive a number of free spins rather than site credit. Each one of these free spins gives you one free spin of a slot’s reels.
  2. You will only be able to use your free spins on one or a small handful of slot games. After using your free spins, you might be able to use your free spins winnings on more game types, but please double-check.
  3. The wagering requirements apply to the amount you win using your free spins.
  4. You can’t adjust the bet size of your free spins.

As with the prior type of free bonus, you can use no deposit free spins to win real money by meeting the T&Cs.

Pros

  • Play Slot Games For FREE! – You take on zero financial risk when you claim a no deposit free spins bonus, and you get to play great slot games.
  • WIN REAL CASH – If you meet the T&Cs, you can withdraw a portion of your free spins winnings.
  • Play Fantastic Slots – Casinos don’t make their free spins eligible on any old slot games – you’ll be playing the casino’s best slot games.

Cons

  • Fixed Bet Size – You can’t alter the bet value of your free spins. They are usually the same value as the lowest possible bet in the eligible slot/s.
  • Limited Value – The amount of free spins you receive with no deposit are few compared to the amount you can receive by making a deposit.
  • Terms & Conditions – You can only withdraw a portion of your free spins winnings upon meeting the T&Cs.

Paid Bonuses

Match Deposit Bonuses

If you are willing to make a deposit at the time you sign up, you can get a match deposit bonus.

With this bonus, the casino will ‘match’ the amount you deposit by a percentage and up to a certain amount. 

We can provide you with an example to illustrate how it works:

Imagine you come across a match bonus that offers the following: a 100% match bonus up to the value of $300.

This bonus can be broken down as follows:

  • Percentage Match: 100%
  • Max Bonus: $300.

Since the casino will match your deposit by 100%, it essentially means they will double the value of your deposit.

The maximum you can receive with this bonus is $300.

Therefore, if you made a first deposit of $300, you’d receive $300 in bonus credits.

Here are the pros and cons of these bonuses:

Pros

  • Great Value – It’s common for players to increase the value of their bankroll by 100%, 200%, and sometimes 300%.
  • WIN REAL CASH – If you meet the T&Cs, you can withdraw your bonus winnings as real money.
  • No Withdrawal Limits – Whatever you win (providing you meet the T&Cs), you get to keep as real cash.
  • Adjustable Bet Size – Because you receive your bonus in bonus credit, you can change the value of your bet.

Cons

  • Not Free – You have to make a qualifying deposit.
  • Terms & Conditions – You can only withdraw your bonus winnings after meeting the T&Cs.

Free Spins With Deposit

There are “free spins” bonuses that require a deposit. Because of this requirement, they are sometimes called “extra spins” or “deposit spins”. 

The benefit of making a deposit and claiming these free spins, rather than no deposit free spins, is that you get a lot more. 

Most deposit free spins bonuses will allocate between 50 and 200 free spins to your bonus account. 

You may only use your free spins on a single slot game, though it is often a hugely popular slot game.

Pros

  • Incredible Value – With a deposit free spins bonus, even a small deposit can get you 100’s of free spins.
  • WIN REAL CASH – Deposit free spins give you the opportunity to win real money.
  • No Withdrawal Limits – Providing you meet the T&Cs, you can withdraw all of your free spins winnings.
  • Enjoy Popular Slots – Casinos will try to entice you by giving you the chance to play one of their best slot games with free spins.

Cons

  • Not Free – You have to make a real money deposit.
  • Terms & Conditions – You can’t withdraw your winnings unless you meet the T&Cs.

How Casino Bonuses Work

Casino bonuses all tend to follow the same set of rules. 

But, as we’ve already talked about, some need a deposit and others need you to make an account. 

Once you have successfully claimed a bonus, it will be allocated to your bonus account.

This is because you will have two separate casino accounts: 

  • Real Money Account – This is where your deposit funds will be. It is also where your bonus funds will be transferred to once you meet the T&Cs. 
  • Bonus Account – This is where you’ll find your bonus credit and free spins winnings. 

You can only use funds from your bonus account if your real money account is empty of funds. 

Therefore, when you claim a deposit bonus, you have to use up all your real money funds before you can actually use your bonus. 

When you meet the terms and conditions of your bonus, funds from your bonus account will be transferred to your real money account. 

Casino Bonus Rules

We repeatedly say in this article that to win real money with a casino bonus you have to meet the T&Cs. 

In this section we’ll go over exactly what these T&Cs are and what you have to do to meet them. 

As you will soon realize, the T&Cs have a major influence on a bonus’s value. 

Here’s what you have to consider when looking for a bonus: 

Wagering Requirements

This rule is the most important if you hope to win real cash with a casino bonus.

In short, it stipulates how many times you have to wager your bonus before you can cashout your winnings.

If this is confusing, please take a look at our example below:

Say you are given the opportunity to claim one of the following no deposit bonuses:

  • Bonus #1 – $30 in bonus credit with wagering requirements of 50x.
  • Bonus #2 – $15 in bonus credit with wagering requirements of 10x.

Before you can know how much you need to stake before you are allowed to cashout, you have to multiply the value of your bonus by the wagering requirements.

Therefore with Bonus #1, you have to wager ($30 x 50) $450 before you can cashout.

Whereas with Bonus #2 you have to wager ($15 x 10) $150 before you can cashout.

As you can see, even though you get more in bonus credits with Bonus #1, you also have to wager 3x more than with Bonus #2.

As well as this, you also need to consider how the wagering requirements apply.

In our example, the wagering requirements applied only to the value of the bonus.

However, it can actually apply in one of these three ways:

  • Value Of Bonus – Multiply your bonus by the wagering requirements.
  • Value of Free Spins Winnings – Multiply the amount you win using your free spins by the wagering requirements.
  • Value of Bonus / Free Spins Winnings + Value of Deposit – This also requires you to wager the value of your deposit on top of the value of either your bonus value or free spins winnings.

Our advice here is to NOT claim a bonus that applies the wagering requirements to your bonus value plus the value of your deposit. It makes it much harder to win.

Maximum Cashout

While paid bonuses do not have a maximum cashout rule, free bonuses do.

This essentially means that there is a limit placed on how much you can withdraw as real money when using a no deposit bonus.

Winnings from no-deposit bonuses will be limited.

The maximum cashout for no deposit bonuses may go up to a maximum of $200. However, the maximum cashout can vary greatly.

Eligible Games

This is a rule that stipulates which games you can play with your casino bonus.

Playing on games that are not made eligible can lead to your bonus being confiscated.

Please just make sure you adhere to the eligible games list.

How to Figure Out A Casino Bonus’s Value

Now we’ve discussed the types of bonus available and the T&Cs, we can go over how you find the best casino bonus. 

For each casino bonus, there will be three factors that contribute to its value: 

  • Game Restrictions – The games you can and can’t play with your bonus, and whether they have varied game weighting percentages. 
  • Bonus Amount – The amount you receive in bonus credits and/or free spins. 
  • Bonus Rules – The severity of each bonus rule and how this influences your chances of winning. 

Let’s go over this with reference to particular bonuses:

Calculating Bonus Value

Credit with No Deposit

When looking for a no deposit bonus, consider these three things:

  1. Bonus Amount – The number of credits you get.
  2. Withdrawal Limit – The amount you can take out after satisfying the T&Cs.
  3. Wagering Requirements – The amount of times you have to wager your bonus.

The most important of these is the wagering requirements, so make sure they’re as low as possible. 

In other words, don’t be fooled into thinking that the bonus that is worth more in bonus credits is the best bonus. 

If two no deposit bonuses have the same wagering requirements, look at the withdrawal limits. You want to claim the one that lets you win the most.

Free Spins with No Deposit

When looking for a no deposit free spins bonus, you need to consider these four things:

  • Bonus Amount vs Eligible Slot – Multiply the amount of free spins you receive by the lowest possible bet on the eligible slot.
  • RTP & Slot Volatility – Claim free spins on a high RTP slot with a low volatility rating.
  • Withdrawal Limit – This provides you with the maximum you can ultimately withdraw using your free spins.
  • Wagering Requirements – The amount of times you have to wager your free spins winnings.

Firstly, it doesn’t matter how many free spins you get. The wagering requirements apply to your free spins winnings, and you can’t predict how much you’ll win beforehand.

This is why, to begin with, you should only concentrate on the wagering requirements.

Secondly, the best slot to play has a high RTP and a low volatility. A high RTP equals high odds; a low volatility means that there is a low risk of losing your bet. 

Thirdly, and finally, make sure you can withdraw a substantial amount. Between $100-$200 is generous.

Match Deposit Bonuses

Figuring out which match bonus is best for you isn’t so easy. 

Here are the factors that will affect your decision: 

  • Match Percentage vs Bonus Value – Initially, you need to consider your budget. You may choose to go with a smaller bonus with a higher match percentage if it ultimately provides you with more bonus credit.
  • The Wagering Requirements – Here you should think about how low the requirements are and how they apply. Don’t go for bonuses that apply the wagering requirements to both your deposit and bonus value.
  • Game Restrictions – The bonus needs to be eligible on games you like, and the games you like should have a game weighting percentage of 100%.

If any of this is unclear, don’t worry – we go over it in more detail below:

Match Percentage vs Bonus Value

We can illustrate why this is so important with an example.

Let’s imagine you are offered the two following bonuses:

    Bonus #1 – A match bonus worth 300% up to $300.
    Bonus #2 – A match bonus worth 100% up to $1,000.

The bonus that is best for you will depend entirely on your budget.

For instance, if you had $100 to deposit and you claimed Bonus #1, you would have $300 in bonus credits.

Whereas, if you claimed Bonus #2 and deposited the same $100, you would only receive $100 in bonus credits.

In this case, Bonus #1 is the clear winner.

Yet if you had $1,000 to deposit the maximum you could receive with Bonus #1 would still be $300. Therefore you would end up with an overall bankroll of $1,300.

This is far less than if you deposited $1,000 with Bonus #2, which would match your deposit dollar for dollar and leave you with an overall bankroll of $2,000.

Wagering Requirements

This example will illustrate why you should consider the wagering requirements before the amount you will receive in bonus credits.

Say you are offered the two following match bonuses:

  • Bonus #1 – 100% up to $500 with wagering requirements of 50x.
  • Bonus #2 – 100% up to $100 with wagering requirements of 10x.

If you had $500 to deposit, you’d receive $500 in bonus credits with Bonus #1, and only $100 in bonus credits with Bonus #2.

In terms of the amount you receive in bonus credits, there is a clear winner.

However, supposing that both bonuses have a maximum withdrawal of $100, Bonus #2 is actually more valuable.

This is because it is easier to fulfill the wagering requirements with Bonus #2.

After you work out the sum-total you need to wager, you get the following figures:

  • Bonus #1 – $500 x 50 = $25,000.
  • Bonus #2 – $100 x 10 = $1,000.

You would have to wager 25x more with Bonus #1 to win the same amount of real cash as you would with Bonus #2.

Deposit Free Spins

If you are looking to claim a deposit free spins bonus, please consider these factors: 

  • Bonus Amount vs Eligible Slots – To work out the value of your free spins you need to multiply them by the minimum bet on the valid slot games. 
  • The Wagering Requirements – Not only do the wagering requirements have to be low, but they have to apply only to your free spins winnings.

Don’t claim deposit free spins where the wagering requirements apply to the value of your free spins winnings plus the value of your deposit. 

Also try to find the free spins with the lowest wagering requirements.

Match Deposit Bonus With Added Free Spins

This bonus is a hybrid bonus comprising the prior two paid bonuses. 

We won’t repeat what has already been said about both bonuses – just make sure you consider:

  • The Wagering Requirements – How they apply to the bonus and how high or low they are.
  • Match Percentage vs Bonus Value – How much you are willing to deposit and how much you get in return for your deposit.
  • Game Restrictions – Do the games you want to play have a game weighting percentage of 100%?

The wagering requirements, as we repeatedly say in this article, are the most important factor.

In Conclusion

As you have probably realized, the terms and conditions are what determines the actual value of a casino bonus. 

Our number one rule is to look for casino bonuses with the lowest wagering requirements. 

If you find bonuses that have similar wagering requirements, then it’s worth taking into consideration the other factors discussed in our article. 

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FAQ

Yes, of course! If you manage to fulfill the terms and conditions, you get to keep a portion of your winnings.

Definitely Exclusive Bonuses. These bonuses have been negotiated for you, by us. They come with unbeatable T&Cs and are eligible on the top games.

Yes, there are – but they’re difficult to find.

If any are currently available at online casinos you can trust, you’ll be able to find them on our Free Spins No Deposit No Wager page.

When you’re starting out, a good option is to claim a no deposit bonus. These bonuses are 100% risk free and let you win real cash for free.

Occasionally, we negotiate for exclusive bonuses with casinos we like.

These bonuses can only be found on our site and are superior in every way to regular bonuses.

For more info, please consult our Exclusive Bonuses page.

Published on: 2023/01/26

Our Expert

Hi, I'm Michael. As the Senior Writer here at BangBonus777, I write objective reviews and articles to ensure you get the best possible gaming experience. Here at BangBonus777, we're constantly looking out for you by recommending the best gambling practices, casinos and bonuses!

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Michael Murdoch