500% First Deposit Bonuses

500% First Deposit Bonuses: The Best Deal for Your Buck

There is a way to gamble with five times your money, and no, it is not “magic”. By finding the right casino bonus, you can win 5 times your first deposit amount – 500% casino bonus offers work exactly like that. Do you have only 20 GBP to play? Don’t worry; you can turn it into 100 GBP literally for free with a 500% casino deposit bonus. If you can find these promotions, you can gamble like kings even with a 5 or 10 pounds – 500% first deposit bonuses are rare, but they still exist. And in this article, we will tell you everything you need to know about them, including online casino sites that offer this promotion right now.

The Definition of First Deposit Bonuses: What Are They and How Do They Work?

When you become a member of an online casino, sooner or later you will deposit money for the first time. Now, to encourage this and attract more customers, almost all casino sites match the amount of this first payment by a certain rate. Usually, it is 100%, so depositing £20, for example, will credit your account with another £20. Or, if it is 200%, you will get a £40 bonus for depositing the same amount – the higher the rate, the better.

While it is a rare situation, sometimes this match rate goes as high as 500%: you can win £50 for depositing £10, for example. Or, if you are a high-roller, you can get a 500 GBP bonus by making a payment of 100 GBP. In any case, this offer will give you 5 times your initial payment.

The process itself is mostly automatic: your bonus will be credited to your account after you make the payment. We only have three recommendations:

  • All 500% first deposit bonuses have a minimum pay-in amount (i.e. 10 GBP) to get triggered. Make sure to respect this amount.
  • There may be a promo code required to activate the bonus. If this is the case, make sure to use that code during the confirmation.
  • There will always be a maximum limit of the match you can get (i.e. up to 500 GBP). Check this figure and do not deposit more than the maximum limit.

The Benefits of a 500% Casino Deposit Bonus: What You Get

Well, you get 5 times the initial pay-in amount, to start with. This is a big boost: even if you have 10 GBP, you can gamble with 60 GBP (£10 your budget + £50 promo amount). And if you win anything with the promotion and fill the requirements, it is yours to keep: nobody will say “you won this by using the bonus so you cannot withdraw it”. In some cases, you can even hit the jackpot of a slot machine with your 500% deposit casino bonus and still get paid. In a way, you are getting “free money” to gamble – this is the most important benefit of 500% first deposit bonuses. Of course, there are some terms & conditions (which we will mention below) but the fact that you are getting 5 times the initial cash amount for free does not change: This is a good deal.

Sometimes, there will be a free spins offer attached to this promotion too. By making the first payment, you can also win 200 free spins to use on a specific slot machine, for example. If you win anything with those spins, it is also yours to keep. Spin the reels for free, get bonus funds to play for free – these are the main benefits of 500% first deposit bonuses, and that’s why you should not miss such deals.

Why Do 500% Casino Bonus Offers Exist?

The number of gamblers is limited, but the number of online casinos is virtually unlimited. Additionally, gamblers are creatures of habit, so when they pick a casino site, they usually stay there for the foreseeable future. In other words, competition is real and hard in the iGaming industry: operators need to give a really good reason to convince players to switch to a new casino site (or join them for the first time). This reason is the first pay-in offer, as explained above, and the higher the match percentage, the better. Let’s say there are three new casino sites that interest you and all of them makes a match offer for your first payment. As a consumer, you will naturally go with the one that offers the highest rate, a 500% casino bonus in this instance.

But how do casinos with 500% first deposit bonuses make money? Isn’t this deal “too good to be true”? Even with 500% match rates, online casinos still make a profit. This is because of a thing called “wagering requirement”. Simply put, you are not allowed to use or withdraw your promo winnings until you wager a certain amount of money on games. Only after that, your 500% bonus becomes usable.
Here is a simple example, let’s say you have managed to win 500 GBP by depositing 100 GBP, and the wagering rate is 25x. To “unlock” your 500 GBP, you need to wager 12,500 GBP first (500 x 25). Wagering means “placing bets on games”, so in other words, you need to spend 12,500 GBP on casino games first. So, a casino that has a 500% first payment bonus can still make a profit.

Types of 500% Casino Deposit Bonuses

We can say that there are two types of 500% casino deposit bonus offers: the ones that require a single deposit and the ones that require multiple ones. The first one seems to like this:

500% Match To Your First Deposit (Up To £1,000) + 100 Free Spins!

This means making a single payment will be matched by 500%, up to the specified maximum limit. Plus, you will get 100 free spins with your first deposit, which is a useful extra. In general, this kind of 500% first deposit bonus is better because you can activate & use them with a single payment.

However, 500% casino bonus offers may look like this too:

First 200% (up to £300) 100 Free Spins
Second 200% (up to £300) None
Third 100% (up to £400) None

In this example, you are still getting a 500% casino bonus and 100 free spins in total, but it will require making multiple deposits. The overall promo amount is still the same, but the casino does not give it at once: you will get a part of it with every payment, and you must deposit three times for the full amount. As can be guessed, this is not ideal, but as long as the wagering rate is not less than the single 500% first deposit bonuses, this option is good.

  • For example, let’s say a 500% casino deposit bonus requires making a single payment and includes a 40x wagering rate.
  • On the other hand, another 500% casino bonus requires making at least three payments and includes a 20x wagering rate.

In a scenario like this, you should go with the that has with the lower wagering rate, because completing it will be much faster. Other than this possibility, single deposit 500% casino bonuses are always better.

500% Casino Bonus on Mobile: Is It Possible?

It is more than possible mobile players are more likely to get 500% first deposit bonuses. The idea is simple: the “costs” of mobile players are much less than the desktop players, so casino operators use lots of tools and additional promotions to encourage mobile gaming. First deposit bonuses are an important part of these: if you get a bigger promotion just because you are using a mobile device, you may choose to stay on mobile too. So, in general, the promo offers of mobile players are usually “bigger and better” than others: you will still get welcome, reload, and cash back bonuses, but with bigger percentages.
For example, if the casino site offers a 200% welcome bonus to desktop players for making the first payment, you will get the same bonus too, but with a much higher match percentage – 500%, for example. So, yes, mobile players can get a 500% casino deposit bonus, and they are more likely to get one.

Claim Your 500% Casino Deposit Bonus Today!

You have learned everything you need to know about 500% first deposit bonuses. The next step is getting one.

As mentioned above, there are not many online casinos out there with a 500% casino bonus, so finding them can be challenging even for veteran gamblers. To save you the trouble, we already picked the best ones – in this article and on this website, you can find lots of casino sites with a 500% welcome offer. Pick any offer you like and start spinning the reels or dealing cards. No matter what kind of game you like to play, you can get a huge boost right from the start! And don’t forget to visit us often because we constantly update our 500% casino deposit bonus lists. Good luck out there and see you at the tables!