How To Find The Real Value Of Casino Bonuses

If you were to claim a casino bonus by looking at how many free spins or bonus credits you receive, it’s very possible you will claim a bad bonus. 

This is because the real value of a casino bonus does not depend entirely on how much you receive. 

In this article we’re going to show you how to figure out the true value of a casino bonus. 

You’ll learn: 

  • How to improve your chances of winning real cash. 
  • How to accurately compare similar bonuses. 
  • How to avoid breaching the terms of your bonus.

A Quick Look At Casino Bonuses

There are many types of casino bonus. How you figure out the real value of your bonus depends on the type you claim.

All casino bonuses can be classified into two types: 

  • Deposit Bonuses – Bonuses that require a minimum deposit.
  • No Deposit Bonuses – Bonuses you get for free after creating a new account. 

In this section we’re going to provide you with overviews of each type of bonus and elaborate on their pros and cons.

Free Bonuses

Regular No Deposit Bonuses

Online casinos offer no-deposit bonuses to new players. 

Rather than requiring you to make a deposit, all you have to do is create a new account. 

They are therefore 100% free to claim. 

Regular no deposit bonuses will provide you with site credit. While it may look like real cash, your bonus only has value at the casino. 

With site credit you can usually play a handful of slot games and even, sometimes, a few table games (but not without a lowered game contribution). 

Regular no deposit bonuses give you the opportunity to win real cash. Though you must meet the T&Cs before you attempt to cashout.


  • Free Trial – The bonus is allocated after you create an account, rather than after you make a deposit.
  • Win Real Money – If you comply with the T&Cs you’ll be able to withdraw a portion of your bonus winnings.
  • Adjustable Bets – Site credit gives you the flexibility to alter the bet size.
  • Eligible Games – With site credit you can sometimes enjoy a selection of games, including slots and table games.


  • Strict Bonus Rules – Failure to comply with the bonus terms can result in your bonus being confiscated.
  • Low Value – Compared to other bonuses, the amount you receive with no deposit is tiny.

No Deposit Free Spins

The other type of no deposit bonus will credit your account with free spins. 

Each free spin you receive will give you a single spin of the reels on a particular slot game – though they can be sometimes used on multiple slots. 

Unfortunately, you cannot use your free spins on table games. However, you are sometimes allowed to use what you win using your free spins on table games. 

Providing you meet the terms and conditions, you can withdraw a portion of your free spins winnings.


  • Free Trial – You don’t have to make a deposit to get these free spins.
  • Win Real Money – Anyone that manages to fulfill the T&Cs can withdraw some of their winnings.
  • Play The Best Slots – To make their free spins enticing to new players, casinos will let you use them on their best slot games.


  • Predetermined Bet Value – You can’t change the value of your bet while using free spins. Usually, each free spin is equal to the minimum bet.
  • Low Value – Compared with deposit free spins, the amount of free spins you receive with no deposit is low.
  • Strict Bonus Rules – The terms and conditions of no deposit free spins can be difficult to meet.

Bonuses That Require A Deposit

Match Deposit Bonus

Any player willing to make a first deposit has the opportunity to claim a match deposit bonus. 

This is where the casino will ‘match’ the amount you deposit in site credit by a particular percentage.

Here’s how it works:


Suppose you find a match deposit bonus worth 200% up to ¤200.

The bonus can be broken down into the following parts:

  • Match Percentages: 200%
  • Maximum Valid Deposit: ¤200

As the match percentage is 200%, it means it will essentially provide you with 200% of whatever you deposit.

As the maximum valid deposit is ¤200, it means that you will be matched by 200% for every dollar you deposit up to the value of ¤200.

Therefore, if you were to deposit ¤200, you would receive ¤400 in bonus credits on top of your deposit.

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  • Fantastic Value – You can easily double, triple or even quadruple the value of your initial deposit.
  • No Win Caps – There won’t be a limit to how much you can win as real cash with your bonus.
  • Adjustable Bets – When you play with bonus credits you can alter the value of your bet up to a maximum bet limit.
  • Eligible Games – You’re likely able to play both slots and table games as you are playing with bonus credit.
  • Withdraw Real Money – If you meet the terms and conditions for match deposit bonuses, you can cash out some of the money you won with the bonus.


  • Deposit Required – You must be willing to make an initial deposit to claim a match deposit bonus.
  • Bonus Rules – You can only withdraw your bonus winnings if you meet the terms and conditions.

Deposit Free Spins

If you claim deposit free spins, you will be given a number of free spins in return for a qualifying deposit. 

The amount of free spins you receive will be between 50 and 200. 

Most of the time, you’ll be limited to using your free spins on a single slot game. However, the slot is usually of the highest quality.


  • Fantastic Value – Even though the deposit you make will be small, the amount of free spins you receive will be generous.
  • No Win Caps – Providing you meet the T&Cs, you will be able to withdraw all of your bonus winnings.
  • Play The Best Slots – When you get free spins without making a deposit, you can usually play the best slots the casino has to offer.


  • Deposit Required – You can’t get a deposit free spins bonus without making an initial deposit.
  • Bonus Rules – Before you can withdraw your free spins winnings you have to meet the T&Cs.

How To Use Casino Bonuses

All casino bonuses are based on similar rules. 

However – as we’ve already discussed – some require a deposit, others require you to create an account. 

Once you receive your bonus, it will be added to your bonus account. This is separate to your real money account.

Thus if you claim a deposit bonus you will be shown the following two accounts:

  • Bonus Account – This is where your bonus balance will be found. 
  • Real Money Account – This is where your deposited funds will be found. 

You can only start to wager funds from your bonus balance once your real money account is empty of funds. 

Therefore, if you claim a no deposit bonus, you will begin using your bonus funds. 

To win real cash with your bonus, you have to meet your bonus’ terms and conditions. 

Upon fulfilling the terms and conditions, some or all of your bonus winnings will be eligible for withdrawal.

Bonus Terms And Conditions

In the present article we have maintained that you can only win real cash with a bonus by meeting the T&Cs. 

Consequently, the relative difficulty of meeting the T&Cs has a big effect on how much your bonus is worth.

To find the best casino bonus, you must compare the T&Cs of the available bonuses. 

Let’s go over how you do this:

Wagering Requirements

Of all the T&Cs, the wagering requirements have the greatest effect on a bonus’s value. 

Essentially, the rule determines how much you have to stake using your bonus before you can withdraw.

Therefore the lower the wagering requirements, the more likely you’ll win real cash. 

Let’s illustrate how it works with an example:


Let’s say you have the chance to claim one of two different no deposit bonuses:

  • Bonus A: ¤25 in bonus credits and wagering requirements of 40x.
  • Bonus B: ¤10 in bonus credits and wagering requirements of 15x.

To work out how much you need to bet before you can withdraw, you need to multiply the bonus’ value by the wagering requirements.

Therefore, with Bonus A, you’d have to wager a sum-total of (¤25 x 40) ¤1000 using the bonus before you could withdraw your winnings.

With Bonus B, you’d have to wager a sum-total of (¤10 x 15) ¤150 using the bonus before you could withdraw your winnings.

In this example, Bonus B – despite being the smaller bonus – would give you the better chance of winning.

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Another consideration ought to be how the wagering requirements apply to your bonus.  

For instance, your bonus may have to be wagered in one of the following ways: 

  • Bonus Credits  – This is simple: take your site credit and multiply it by the wagering requirements.
  • Free Spin Winnings – You use your free spins. You then multiply the amount you’ve won by the wagering requirements.
  • Bonus Value + Deposit Value – This is where the wagering requirements apply to the amount you deposit and the value of your free spins winnings/bonus.

Win Caps

No deposit bonuses will have a winnings cap. 

This means that, regardless of how much you win with your bonus, you will be limited to withdrawing funds up to a specific amount. 

Most no deposit bonuses will let you win up to $200 in real cash for free. 

Deposit bonuses do not have win caps.

Eligible Games

All bonuses will have an eligible games list. 

Playing on ineligible games isn’t allowed. If you do play ineligible games, you may lose your bonus. 

Make sure you can play the games you want to play before claiming a bonus.

How To Calculate The Value Of A Bonus

Since we have gone over what types of casino bonuses are available, and how they work, we can get to calculating a bonus’s value. 

A casino bonus’s value can be affected by three things:

  • Game Restrictions – The #1 rule is to claim a bonus that lets you play games you enjoy. 
  • Bonus Quantity – In short, how many free spins or bonus credits you receive. 
  • Terms & Conditions – How fair are the terms and conditions?

Let’s discuss how this works in reference to specific bonuses.

Measuring The Value Of A Bonus

No Deposit Bonuses

There are three things that affect the value of a no deposit bonus: 

  • Bonus Quantity – How many bonus credits you receive.
  • The Win Cap – The amount you can ultimately withdraw in real cash.
  • Wagering Requirements – The amount of times you have to wager your bonus value.

Our advice is to focus, initially, on the wagering requirements. 

You want these to be as low as possible. 

Don’t fall for bonuses that advertise lots in bonus credits if the wagering requirements are high. 

If you find two no deposit bonuses with the same wagering requirements, it is then worth checking out the win cap. In this case, go for the bonus that lets you win the most in real money.

No Deposit Free Spins Bonuses

With this bonus, you have to consider four factors:

  • Bonus Quantity and Eligible Slots – Free spins tend to be worth the minimum bet on the eligible slot. To find out how much your free spins are  worth, simply multiply them by the minimum bet on the eligible slot.
  • RTP & Volatility – Ideally, you want to use your free spins on a slot with a high RTP and a low volatility for the best chance of winning.
  • The Win Cap – The amount you can ultimately withdraw in real cash.
  • Wagering Requirements – The amount of times you need to wager your free spins winnings before you can withdraw.

Again, we recommend you focus on the wagering requirements. 

The amount of free spins you receive is negligible as your wagering requirements will apply to how much you win using them, and this cannot be predetermined. 

Try to find a bonus eligible on a slot with a high RTP and low volatility – this will improve your chances. 

Moreover, all of the best no deposit free spins bonuses allow you to cashout between $100-$200.

Match Deposit Bonuses

Calculating the value of a match deposit bonus is not so straightforward.

To begin with, you need to be aware of the following factors that contribute to a match deposit bonus’ value: 

  • Bonus Quantity vs. Match Percentage – The best bonus for you depends on your budget. You may opt for a smaller bonus with a higher match percentage if you end up with a larger bonus overall (we go over this in more detail below).
  • How The Wagering Requirements Apply – Essentially, do they apply to your bonus credits, or to your bonus credits and deposit? The former is preferable.
  • Game Restrictions – Is the bonus eligible on games you like? Do these games provide good odds? And, will your stake contribute 100% to the wagering requirements?

We go into greater detail below.

The Bonus Quantity vs Match Percentage


Here’s why it’s important – let’s say have the chance to claim one of two match deposit bonuses:

  • Bonus A is worth 400% up to ¤250.
  • Bonus B is worth 100% up to ¤2,000.

For some players, Bonus A will be best.
By making a ¤250 deposit, you’ll receive ¤1,000 in bonus credits.

Though if you had a large budget, Bonus B might be preferable.
For instance, by claiming Bonus B and depositing ¤2,000, you would get ¤2,000 in bonus credits.

But if you only had ¤250 to deposit, Bonus B would not be ideal, as you’d only receive ¤250 in site credit,
compared to the ¤1,000 you’d get with Bonus A.

This is why it’s crucial you consider your budget before claiming a match deposit bonus.

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The Wagering Requirements


Let’s look at two more bonuses to illustrate the significance of your match deposit bonus’ wagering requirements:

  1. Bonus A is worth 100% up to ¤400 with wagering requirements of 60x.
  2. Bonus B is worth 100% up to ¤100 with wagering requirements of 10x.

If you deposit ¤400, with Bonus A you’d receive ¤400 in bonus credits.
Whereas with Bonus B you’d only receive ¤100 in bonus credits.

Therefore, Bonus A would give you four times more in bonus credits.

While this looks like the better deal on paper, when you factor in the wagering requirements,
you realize you have to wager the following figures before you can withdraw:

  1. Bonus A: ¤400 x 60 = ¤24,000
  2. Bonus B: ¤100 x 10 = ¤1,000

Supposing that the win cap is the same, you would be much more likely to win real money with Bonus B than with Bonus A,
as you have to wager a massive 24x more with Bonus A before you can withdraw your winnings.

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Deposit Free Spins

The value of a deposit free spins bonus is dependent on the following factors:

  • Bonus Quantity and Eligible Slots – Each individual free spins is worth the minimum bet on the eligible slot. To work out the value of your free spins, simply times the quantity you receive by the minimum bet.
  • How The Wagering Requirements Apply – If the wagering requirements apply to your deposit and your free spins winnings, it can be extra difficult to win real cash.

As tends to be the case, the main thing is to claim a deposit free spins bonus with low wagering requirements. 
Once you have found a bonus with low wagering requirements, your next job is to make sure they apply only to your free spins winnings.

Match Bonuses With Extra Free Spins

With this bonus you simply get a match bonus and a deposit free spins bonus in one. 

Subsequently, the things to consider are simply a reiteration of what we have already gone over. 

Make sure to check out:

  • How The Wagering Requirements Apply – You have to ensure the wagering requirements apply only to the value of your bonus, rather than the value of your bonus and deposit.
  • Bonus Quantity vs Match Percentage – Choose the bonus that rewards you with the most bonus credits for the amount you’re willing to deposit.
  • Game Restrictions – Claim the bonus eligible on games you actually want to play and that provide decent odds.

Your primary focus ought to be on the wagering requirements.

To Conclude

A summary of what’s discussed in this article is rather easy: claim bonuses with low wagering requirements. 

This T&C has a major impact on your chances of winning. 

Nonetheless, there are other factors to consider, and using this guide in your approach to claiming bonuses will have a positive effect.


Yes! Winning real money with a casino bonus is as straightforward as meeting the terms and conditions.

The best casino bonuses, in terms of the amount you receive, the terms & conditions, and game restrictions, are almost always Exclusive Bonuses.

Exclusive bonuses are especially good as they have been negotiated for you by a team of industry pros.

Yes, though they are scarce. If they are being offered in your jurisdiction, they will be available to claim on our No Wagering Bonuses page.

Without a doubt: no deposit bonuses. These bonuses let you play for free and win real money without risking your own funds. This is, of course, ideal for new players learning the ropes.

An exclusive bonus is any bonus that can only be found on our site.

We negotiate for exclusive bonuses with any casino we find that has an exceptional service.

For more information, please see our Exclusive Bonuses page.

Published on: 2022/11/22

About the Author

Hi, I'm Ian, the Chief Editor at NoDeposit.Guide - With hundreds of reviews and thousands of no deposit bonuses, NoDeposit.Guide is certainly your one-stop destination for free online gambling. Our bonuses are updated daily and we pride ourselves on providing the highest percentage of working bonus, worldwide.