500% First Deposit Bonuses Canada 2021
What Is the Reason for a 500 Casino Bonus?
In Canada, casinos provide a 500% bonus to capture your interest and retain you. Honestly, this is a very generous bonus offer. And while it can be beneficial to you, it is not the same thing for a casino site. Do you understand the reason why? Gambling sites are looking for profits, similar to any other type of business. Therefore, they aim to make more money than they can give away. And to achieve this goal, they create the most luring bonuses. The most lucrative of all is the 500 first deposit welcome package. Whenever such a promo appears on a gaming site, it is only an attention-grabber.
On the player’s part, a massive first deposit bonus can be advantageous. If the wagering rules are not outrageous, the 500 percent entry perk can be really helpful. Not only can the bonus give you a chance to play several games. It can also help you begin gambling without having to deposit a lot of money. Above all, the match deposit bonus can be easy to access no matter the platform you own.
On the contrary, a gambling website with such a reward knows that it cannot retain it for too long. Firstly, a 500 percent entry deal would be too expensive to run for several weeks. It can have detrimental effects on the gambling business. Once a site registers enough gamblers to remain competitive in the industry, it will do away with the generous prize. Then, it will continue to provide daily, weekly, and monthly promotions and tournaments to keep the new Canadians busy and interested.
Types of 500% Casino Bonuses
When the time comes, there are four different promotions you can enjoy. Each of these is unique in terms of the wagering terms and conditions. Also, each option entails different kinds of free gifts. The main 4 choices are:
- First deposit – Soon after you sign up and deposit money for the first time, you will become eligible to receive this gift.
- The Welcome Package – This deal is for a new player who wants to play but has no money. Usually, winnings that would come from a welcome bonus will not be easy to cash out. Free play does not result in winnings you can withdraw. This is a new players only promotion.
- The Loyalty Program – This is a type of perk that only loyal customers can receive. Also, a gambling site provides this bonus type to reciprocate your loyalty. Hence, each time you place a new cash bet, you can receive a single credit or point. Several deposits can help you gather many points.
- The Free Spins – The best casino online will always have plenty of free spins to give to novice players and the older ones. They can either help you start playing a game or continue playing more games to increase your odds of winning.
How to Calculate 500% Bonuses?
As we have been saying, 500% is a super rewarding deal. While that is true, do you understand the purpose of these online casino deals? How do providers calculate the amount to give you? Firstly, this casino bonus persists for as long as you are a member. The only difference is that bonus offers for new gamblers have a better payout rate. The gaming website will match your bonus up every time you add money to your account. For instance, if you add C$100 now and the rate is 500%, you will receive C$500 free money. Further, if you add up to C$500 to your account, the site would give you C$2,500.
This award can be profitable depending on the amount you can afford to put into your account the very first time. As you can see, the 500% rate on your 1st deposit is the highest you can find in the country. One disadvantage to such a gift is that it is temporary. Thus, only the quickest people will get bonus upon joining and completing their first payment.
When a 500% bonus casino is completely satisfied with the number of new members, it will remove the perk. Fortunately, good things are just starting for the lucky person who manages to join the site. A gaming website can create a reload offer to retain new members. The rate for a reload package will be lower than that of the entry one. However, it will still be enough to keep a player focused on their goal. For example, a match rate of 300% can offer you C$150 if you pay C$50. As a result, you will receive an amount that aligns with your first deposit. As you are about to find out next, a bonus casino will not give you free money without some rules.
Wagering Requirements
The 500% deposit bonus offers are not as easy to obtain as you might think. The truth is that there are terms and conditions you should fulfill first. The name for these is wagering requirements. In summary, you should place a preset quantity of bets before you can withdraw your winnings. In addition, you will have up to a certain number of days to meet your wagering terms and conditions. Should you fail, you will lose a chance to claim the massive boon. To ensure that you benefit from a 500% boon, you must understand the casino play rules. Secondly, you should search for a first deposit bonus casino with a lower wagering rate. Although rare, you can still find a low wagering rate. Otherwise, you would rather avoid a 500% promo with a higher wagering rate. To make this easy to understand, here is an example:
- Wagering at a lower rate – If your winnings at a given gambling hub amount to C$100 and the wagering rate is 20x, you will have to wager C$2000.
- Wagering at a higher rate – Suppose the same website provides a higher wagering rate of 40x. It means that you will need to wager C$4000.
Do you now see the difference that a low wagering rate makes? When the wagering rate is high, you will have to spend more to qualify for the boon. In contrast, you can take a shorter time to honour your wagering rules when the rate is lower. It is necessary to select regulated websites because they may have lower wagering rates.
How to Find the Best 500% Casino Promotion?
The best deposit bonus casino sites can be tricky to find. However, you are lucky because you have found us. We have a list of the most reliable websites offering the 500% prize. It will therefore be easier to use our list of sites than to find it yourself. Besides, some gambling websites with these bonuses are illegal and will not honour their promise. Others are extremely harsh with their wagering conditions. To simplify your work, we have searched for reputable sites that a Canadian can join. Some of the factors to consider when looking for the best 500% promotion sites include:
- Check if you can withdraw the money and keep the 500% gift. Some gambling sites will allow you to withdraw without cancelling a deal. Others will cancel and void your offer.
- To have your five hundred percent quickly, ensure that the maximum bet limit is adequately high. Otherwise, a small bet limit could mean that the wagering period will end before you complete the requirements.
- Confirm that the promotion is not about a select category of games. Unless you are interested in the offered games, you may be best doing away with the 500% perk.
- Confirm your budget before you can accept the huge offer. If you have no adequate cash to place in your account, forget about it. The 500% award is hardly a dollar deposit offer.
- What is the maximum limit? Most gambling sites have preset limits that you cannot surpass when depositing money. Most of them have a limit of C$250. Therefore you cannot pay more than this amount.
How to Claim Your 500% Deposit Bonus?
To claim your 500% prize, do the following:
- Visit your favourite platform and log in to your account. Create a new account if you have not yet.
- Go to the payment section to place your first deposit if this is a requirement. You need to select a payment method that can work for you.
- Go to the payment page again and confirm your account balance.
- Â Start the journey of completing your wagering conditions.
Conclusion
A Canadian can enjoy online gambling even when they are new to a site. Whether one has experience or not, the only thing that matters is being new to a site. New players can access the highest promotion of 500% if they join a site. We have taught you all you need to know about the 500% welcome bonus package. Now you know how you can find it and ensure that it is genuine. Also, you now know how to choose an offer based on its wagering terms. Still, you can get smaller welcome bonus packages, including a 200% award. The remaining job is yours. It is up to you to decide if you want to enjoy the maximum entry boon of 500%.
Frequently Asked Questions about 500% Deposit Bonus
Yes, the offers are available to any Canadian who is over 19 years of age (for most regions) and wants to gamble online.
It provides a match offer based on the size of your first deposit.
It is almost impossible to find a gambling site without wagering rules on such a gainful prize.
Yes, if you want to grab it when the provider has gathered enough new members.
Yes, it is the maximum that a Canadian can find online.
The best Canadian gaming sites attract new players with generous welcome packages. One of the top welcome offers in 2021 is the 500% casino bonus. As of now, this is the maximum bonus you can find as a Canadian. Although it is attractive, it is short-lived. Also, game providers provide it because they want to attract a given number of Canadians. So, when they attain the targeted number, they will close the offer.
Similar to other entry bonuses, the 500% one is prone to some wagering rules. We will explain these later. Next, the 500% offer consists of two parts. The first part entails your first ever payment. The second part consists of free money you can use for betting. After removing this offer, the offer owner will continue to present the best bonus offers. However, they will consist of a smaller value to prevent losses.