Hello guys. I have recently stumbled upon sites that are offering $50 free NO DEPOSIT REQUIRED. I wish just curious if any of you guys have done this coz it sounds like a scam to me. And if any of you know what the websites gain If you do use it?
I have used it on several occasions, and whilst they do credit your account with a certain amount, you cannot withdraw that money until you have paid a certain percentage in rake ( sometimes as high as 5 times the amount they deposited. )
You do not have to pay it back however, and you are free to play with it as you see fit. I did it on VC, getting $10 for free. I played micro stakes for a while and built it up to $25 then had a go on a MTT tournament which I came second in winning $300.
I thought I could cash out, but sadly not. Not until I had paid the set figure in rake ( which I seem to recall was $30 ) so i set about playing on the 10/20c games. Once I had paid the required amount in rake I could then cash out ( but rather stupidly I had to deposit first ).
I finally got my money paid into my bank, but to be honest, I was lucky, very very lucky, and the chances are that you wont pay back enough rake ( within a certain timeframe ) to be able to cash out.
They are good for a bit of free play, but dont bank on getting shed loads of money for free.
