Top Iceland Casinos Welcome Bonuses in 2023

Welcome bonuses have become a must-have for any serious online casino. Alongside awarding a cash boost, a welcome bonus in a casino offers new players a way to try the website. They can experiment with available games, banking methods, and customer support to see if that online casino suits their wants. This bonus guide covers the latest and greatest bonuses and promotions available in trusted casinos reviewed and ranked by our experts.

Overview

Welcome bonuses are one of the most significant advantages online gambling has. These offers usually blow anything real-world casinos have out of the water. Furthermore, many Icelandic online casinos feature fantastic promotions for first-time signups. These welcome bonuses allow new players to boost their gambling budget.

Casinos have different ways to grant welcome promotions, but most award it alongside your first deposit. Websites will match some or the entirety of the deposit you make after first joining. Sometimes, these welcome deposit match offers even exceed 100%.

However, that is just the tip of the iceberg regarding casino welcome offers. Joining a new online casino is always exciting as you figure out how its welcome promotion works.

How Welcome Bonuses Work

As previously mentioned, most welcome bonuses are tied to your first deposit. An example of such a welcome offer would be a 100% deposit match for all new players depositing funds. If they deposit kr1,000, the promotion will start them with kr2,000 total. Money granted by the welcome bonus is held as bonus funds. You can play this bonus money on selected casino games, but you cannot withdraw it immediately.

Offers that grant bonus funds are commonplace in online casinos that cater to Icelandic players. Some websites will match 50% of their members’ first deposit, while others may step up their game and have 200% deposit matches or more. All welcome offers have terms and conditions that detail what is and is not allowed, and we will discuss them further in the guide.

Another frequent addition to welcome promotions in online casinos is free spins. Alongside the cash boost, you get ten, twenty, or even more free spins for one or more video slots. Free spins play identically to their real-money counterparts, except wins get added to your bonus balance. You can think of free spins as part of the welcome bonus without an exact attached value.

How to Claim a Welcome Bonus

It is in the interest of online casinos to make claiming welcome bonuses as straightforward as possible. That means many websites will only require you to make your first-time deposit to trigger the promotion. In such cases, if you do not want to receive the bonus, contact customer support before you start playing. Request for the promotion to get removed from your account and wait for confirmation.      

Some websites require you to enter a bonus code while depositing to activate the welcome bonus. Online casinos usually do this if they have multiple welcome offers or players get a non-standard bonus from a third-party affiliate website. Depending on the casino, you must enter the promo code during registration, deposit, or when claiming the bonus. Ensure you enter the code correctly, or you will not receive the corresponding offer.

How Do Wagering Requirements for Welcome Bonuses Work?

Bonus money usually becomes instantly available for you to use. The funds function identically to real money when playing them in online casino games. However, there are critical differences between actual cash and bonus money, owing to bonuses having restrictions and requirements players must meet. Icelandic players should be mindful of the following:

  • Bonus Terms
  • Game contributions
  • Restricted games
  • Maximum bet

Bonus Terms

Wagering requirements are a crucial part of many online casino bonuses, including welcome bonuses. Wagering requirements (or just wagering) tell casino members how much they have to play through before awarded bonus funds can be withdrawn.

It is easier to understand how wagering requirements work with an example. Assume you get a kr10,000 welcome bonus with 35x wagering requirements. Awarded bonus money will only become withdrawable when you play through kr350,000 in bets on eligible games. Attempting to withdraw funds before clearing wagering requirements forfeits the bonus.

Game contributions

Game contributions are linked to wagering requirements. Not all casino games contribute to playthrough completion equally. With slot games, kr100 wagered usually translates into kr100 cleared from the wagering requirements. However, a kr100 bet on roulette may only contribute kr10 to wagering or may not contribute at all. Before playing, read up on how different games contribute to the wagering requirements.

Restricted Games

All welcome bonuses must follow the rules set by the casino. One of these rules comes in the form of restricted games. The website usually lists what releases are or are not allowed in the bonus terms. Casino members cannot play these casino games while using bonus funds. Restricted games can cover table games, progressive jackpots, and specific slots with high RTPs.

Some Icelandic casinos will warn or block you from launching restricted games to prevent you from violating the rules. Unfortunately, that is not always the case. That is why you must read all the bonus terms before playing. Do not be afraid to contact customer support to confirm if a game is allowed or not. Spending some extra time clarifying details is better than losing out on a welcome offer.

Maximum bet

When wagering welcome promotions, your bets cannot exceed the maximum bet set for the bonus. The maximum bet is the highest amount you can bet on a single slot or roulette spin, a hand in a card game, and more. The usual maximum bet is around kr500, but you can find the exact number on the terms and conditions page.

Why do online casinos set a maximum bet on welcome bonuses? The goal is to prevent casino members from abusing promotions and unfairly getting ahead. Without that limit, casinos would be open to different manipulation tactics. However, these limitations end up catching honest players too. Some casinos allow you to have the maximum bet limit removed by contacting customer support.

Sticky or Non-sticky Welcome Bonuses?

Welcome bonuses available to players from Iceland usually come in two categories: sticky and non-sticky promotions. These two welcome bonus types can seem similar at first glance, but there are essential differences between the two. In particular, non-sticky promotions are much more player-friendly.

The names give you a hint on how these two bonus types differ. Sticky promotions activate immediately when you deposit and claim the bonus offer. Awarded bonus funds mix with your cash, and your entire bankroll gets tied into the promotion. That continues until you meet the wagering requirements or lose all your money. Even if you win while playing with your funds, you cannot cash out without completing the wagering.

Non-sticky bonuses are better on that front. These promotions keep your bonus funds separate from your main balance. Any cash wins you achieve are yours to keep and do as you please. For example, let’s say you have kr10,000 in cash and kr10,000 in bonus funds. If you land a big win while still playing with your real money balance, you will be able to cash out that win without having to wager the promotion.

Out of the two, non-sticky bonuses are much better for you. With such promotions, wagering requirements only enter the picture when you play with bonus funds. If you were not playing with a promotion, you would be bust at that point. It means you get a second chance you would not have otherwise.

The Upsides of Welcome Bonuses

The first and most apparent upside of welcome bonuses is the extra cash you get. If the promotion doubles your gambling bankroll, you can enjoy your gaming time much longer. With more play time, you have greater odds of landing a lucrative slot feature that can lead to an excellent cashout.

It is not all about money either. Welcome bonuses are great for entertainment value, as they prolong how long you can stay and play casino games. That can be helpful if you just want to have fun and deposit small amounts such as kr1,000 or kr2,000. Doubling your balance from kr2,000 to kr4,000 goes a long way, especially since most slot games only require a kr10 bet per spin.

Finally, an upside of welcome bonuses is the challenge of beating them successfully. While luck plays a factor, players can try to optimize their approach to give themselves better odds of clearing the wagering requirements. If you are successful, you can lean back and bask in the glory of victory. Coming up and executing a plan is great fun and helps bankroll management by encouraging withdrawals instead of overbetting.

Welcome Bonus Downsides

Despite the appeal of bonus money in online casinos, there are some downsides to welcome offers you should consider. The most obvious one comes down to being tied down to the promotion. You cannot cash out whenever you want. Instead, you must complete the wagering requirements first.

Another not-so-satisfying occurrence with welcome promotions comes when you land a big win while still wagering. Because of that, you cannot withdraw the big win and have to keep playing. Sometimes it works out, and you get more money than what you initially won. Other times, Lady Luck will not be at your side, and you will have to give it all back. It is not ideal, but that is a tradeoff you must deal with for a welcome promotion.

You also need to consider time limits on welcome bonuses. Most casinos that accept players from Iceland are reasonable in how much time they give. Occasionally, you will run into websites that provide you a few days to complete the wagering requirements, or the bonus will expire. The time pressure will turn off many players, so we recommend checking the time limit before accepting a welcome promotion.

How to Get the Most from Your Welcome Bonus

Outside of limitations in the bonus terms, you can tackle your welcome offer however you like. Clearing the wagering requirements is primarily luck: you must keep landing wins to get ahead. However, you can employ strategies to bolster your chances of meeting the required playthrough and taking home some extra cash.

Being risk averse will not work to your advantage when playing with bonus funds. You cannot withdraw money before completing the wagering requirements. Because of that, you want to land a solid win that makes turning over the initial amount thirty-five or forty times realistic.

Playing slightly higher than you would without bonus funds is usually the best way to go. We recommend slot games with a decent potential to land big wins. Low variance releases can seem like a good option for beating the wagering. However, operators usually set up their wagering requirements so you are unlikely to get through them without some big hits along the way.

Pros & Cons

Pros
Draws out your playtime
Attractive for new players
Makes trying new games easier
Maximizes your deposit
Cons
Wagering requirements are strict
Limits maximum withdrawals

Starting Out

Claiming a Welcome Bonus is the first step for new players to start their online gambling adventure. However, that first step can be daunting to people new to online casinos. Our guide will walk you step by step to activating the promotion you want. Follow along, and you will be signed up and enjoying a bonus in no time.

1 Choose a trustworthy online casino

Go through our casino reviews to find a website worth your time. Our experts go in-depth for each site and cover all essential criteria for picking an online casino.

2 Check out the terms and conditions

Take some time to familiarize yourself with the terms and conditions of the bonus you want to claim. Read the wagering requirements, deposit limits, what games you can play, and other essential facts.

3 Activate the Welcome Bonus

After picking the casino and the offer, it is time to claim it. Some websites require you to deposit and automatically grant the promotion. Others require entering a promo code when depositing to receive the welcome bonus.

4 Meet the promotion’s withdrawal requirements

Players receive the benefits of the promotion but now must complete the associated wagering requirements. After the wagering is cleared, you can withdraw money. That requires meeting the total wagering, obeying minimum deposit rules, and finishing the offer within the set timeframe.

Calculate Your Casino Bonus

Casinos Bonus Min. Deposit WR Payment Methods Claim Bonus
Stake Casino
€2,000
18+ Only, T&C Apply.
€100 40x (Bonus & Deposit)
18+ Only, T&C Apply.
CampeonBet Casino
€1,600
18+ Only, T&C Apply.
€20 45x (Bonus & Deposit)
18+ Only, T&C Apply.
MagicalSpin Casino
€1,000

MAGIC7FE

18+ Only, T&C Apply.
€25 30x (Bonus & Deposit)
18+ Only, T&C Apply.
Joo Casino
€1,000 + 100 Free Spins
18+ Only, T&C Apply.
€20 50x (Bonus & Deposit)
18+ Only, T&C Apply.
Bet2u Casino
€600
18+ Only, T&C Apply.
€20 40x (Bonus & Deposit)
18+ Only, T&C Apply.

Bonus Variations

The welcome bonus is a straightforward term, but it covers many different promotional offers. Many websites bundle multiple bonuses together to make their welcome promotion more appealing. Below, we outline the most frequent online casino welcome offers:

No Deposit Bonuses

No deposit promotions grant you bonus credits to play with without requiring you to pay real money. These offers often have strict wagering requirements and a low maximum withdrawal limit on winnings. Unsurprising, considering the casino is giving you some bonus cash just for signing up.

Cashback Bonuses

Cashback bonuses reimburse a percentage of the money you lost playing online casino games. They are a great way to offset your losses. Cashback gets awarded weekly or monthly.

Deposit Match Bonuses

Deposit match offers are the most popular welcome bonus and offer the best value for your money. The casino matches a percentage of your first deposit and grants it as bonus cash. The match bonus usually ranges from 50% up to 500%. These promotions also have wagering requirements but do not limit how much you can cash out.

Free Spins

Free spins bonuses grant a predetermined number of free spins on selected online and mobile slot games. The exact terms of these promotions tend to vary. Some are bundled alongside deposit match offers, so depositing for one awards both. Others require a dedicated deposit to receive your no-cost spins. You must deal with wagering requirements on the amount you won from free spins.

NWR Bonuses

Promotions with no wagering requirements are around but are rare. You can claim a bonus and make a withdrawal with just a single bet with such offers. Casinos offset this by making the bet cover the total value of the bonus amount. They also limit withdrawals to minimal amounts.

What are Wagering Requirements?

Wagering requirements are also known as playthrough requirements. WR are part of the terms and conditions for a no deposit bonus. Wagering requirements are multiplier rules associated with the promotion. It indicates precisely how many times Players must rollover the bonus before they can withdraw any funds.

How to Calculate the Wagering Requirement

A $20 no deposit bonus subject to a 30X wagering requirement means that players must wager their bonus amount a total of 30 X ($600 in bets) before cashing out any payouts. Any attempt to withdraw without meeting the playthrough requirement will invalidate the bonus + payouts in the account.

What portion of the offer is subject to wagering requirements?

The portion of the offer that is subjected to wagering requirements is usually indicated in the bonus terms and conditions. Wagering requirements can be applied to both deposit match bonuses and free spins bonuses, and in some cases, wagering requirements may also be applied to your deposit amount.

Tips

Finding the best offer can be time-consuming with so many bonus types on the market and available online casinos. Our team looks at several metrics to make our reviews as accurate as possible. The following tips are based on these metrics and will help you hunt for the best offer possible.

Welcome vs. Ongoing Bonus

One of the upsides of playing in online casinos is knowing what to expect from your welcome bonus. However, what comes after the welcome bonus ends is not as apparent. Fortunately, online casinos come with many entertaining promotions, giveaways, and reload bonuses for existing players. We outline the benefits of welcome and ongoing bonuses side by side for a better comparison between them.

Welcome Bonus Ongoing Bonus
New Players Only Rewards Loyal Casino Members
Lower Gambling Risk Multiple Bonus Types
Financial Losses Are Limited Enables Longer Time to Play

How We Rate

How Our Experts Rate Online Casinos and Gambling Sites: Reviewing casinos is what we do best, and we always make sure that we cover the vital information and essential factors. When considering which online casino to choose, we’ll provide you with the most up to date information on a casino’s security measures, payouts, player feedback about the casino, and much more. Take a look at the graph below for more info.

Aspects taken into account when rating is calculated

Our expert reviews will lend a helping hand to finding the best and most rewarding online casinos. By noting a casino’s game library, banking options, customer support, and all of the most important factors to consider when choosing a casino, our expert reviewers put the power in your hands.
Find out more about how we rate

Our Favorite Casino

Approved Approved
Favorite

22BET Casino

9.8
Best for
Blackjack
Slots
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Over 5039 games available

Excellent reputation since it was established.

Top slots from NetEnt and Microgaming.

Fantastic customer support.

Good range of different banking methods.

Deposit, play, and withdraw directly in Bitcoin.


Payout Speed
1 - 2 Days
Features
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Auto Play
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Payment Methods

100% Match Bonus up to €300

Welcome Bonus

18+ Only, T&C Apply.

FAQ

A welcome bonus is a cash boost offered by casinos to new players when they make their first deposit. Usually, welcome promotions match the total amount or a percentage of the casino member’s initial deposit.

For most online casinos, the process is as straightforward as making your first deposit. Some websites will require you to enter a corresponding bonus code to claim the offer.

There is no easy answer to this question. Accepting a welcome bonus is the right pick if you want more fun and longer playtime. However, taking the promotion usually restricts you from withdrawing money before completing the wagering requirements. It comes down to what you consider to be a greater priority.

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