First Time Depositor
What is a 'First Time Depositor'?
A first time depositor is a person who places, wagers or deposits an amount of money at or in a casino or gambling establishment for the very first time. Many gambling venues and online casinos
will try to entice a certain amount of money from a first-time depositor by offering them bonuses
and rewards for signing up or initially paying a minimum deposit – such as a “welcome bonus”. These rewards can only be claimed once by a new player.
'First Time Depositor' Explained
Although most first time depositors will be new players, there are experienced players who sign up to many different online gambling websites or travel between casinos in order to receive first-time depositor bonuses.With online casinos becoming increasingly popular, each different website will try to attract new players and first time depositors through these rewards. A first time depositor bonus will usually be a percentage match of the initial bonus placed by the player, and will have a minimum and maximum amount set by the casino. For example, one popular online casino has a first time depositor bonus set at 300% up to the amount of $3,000 – meaning that every dollar placed by the first time depositor will earn another dollar in bonus money, up to the cap of $3,000.Most casinos will offer first time depositors a “Play-Only” bonus. This means that once a first time depositor has paid their first deposit, they cannot withdraw any of the bonus money but instead must use it as a wager. Each bet placed by the first time depositor will come out of their “bonus” account, until they have used up the full amount of the bonus. Very rarely does a casino offer a withdrawable bonus – and in these cases, a first time depositor must clear the amount of the bonus before they are able to withdraw the money from their account.