No-Deposit Bonuses exist as an enticement to get would-be players to sign-up for online casinos, and at their face, they offer free value to the player. Players do not have to make a deposit in order to play such a bonus, (but may have to make a deposit to be allowed to cash out) so these bonuses give a player an opportunity to sign up for a casino and play with the potential for winning money with absolutely no risk to them.

Why not try no deposit bonuses here.

When it comes to expected value, many online casinos offer Deposit Match Bonuses (and other types of bonuses) with a much greater expected profit than that of No-Deposits. For that reason, I would tend to often avoid No Deposit Bonuses (if you have any bankroll to speak of) as you will often not be able to take advantage of Deposit Bonuses if you have already taken a NDB as you will not be considered a new player.

To be blunt, these should really only be played by players with an extremely low bankroll OR if the NDB does not prevent you from taking a Deposit Welcome Bonus in the future. In some cases, Deposit Bonuses have a negative expected value, however, I still would not personally take a NDB at those casinos because they might eventually roll out a Deposit Bonus that is positive and I would not want to waste the sign up.

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