Everyone loves a free spin or cash bonus when signing up to a new online casino.
Many casinos have minimum deposits required to unlock the bonuses, some of which require a high initial deposit but there are a select few casinos offering free spins and bonus cash with a deposit of just £5 in 2023.
Through extensive research into new and existing online casinos this list should capture all the best spins and cash offers available when depositing just £5.
Also included are online casinos that will allow you to deposit and play from just £5 rather than needing a higher deposit to join in the fun.
Some casinos will accept online payment merchants such as PayPal whereas others will require payment via a bank transfer.
The best £5 casino deposit offer found at the moment is the Foxy Bingo £5 Deposit promo where a £5 deposit and spend will give the player a £10 slot bonus as well as 100 Free Spins worth 10p each, meaning a 400% bonus is on offer!
Please note: these casino bonuses come and go at any time, and change frequently.
Best £5 Deposit Casino Offers
Here are the best £5 deposit casino offers available:
Foxy Bingo: Deposit £5 and get a £10 slot bonus AND 100 Free Spins
You can’t turn on daytime TV in the UK without seeing an advert for Foxy Bingo.
Love it or loathe it, it’s as part of the daytime TV culture now as Home Under the Hammer!
Foxy Bingo has been part of the bingo culture since 2005, but has recently opened its online doors to the world of online slots.
It also has one of the best £5 deposit freebies out there in terms of slot playing.
Open a new account, and deposit just £5 to receive a £10 free slot bonus AND 100 free spins worth 10p each, which means a huge 400% welcome bonus!
There is a £400 wagering requirement for the £10 free slot bonus (40x) in order to withdraw winnings, but the good news is any winnings from the 100 free spins can be withdrawn as cash straight away – no wagering requirement needed!
Also Foxy Bingo does not limit the bonus plays to one single slot.
There is a list of eligible slot games to play though – 17 in fact, including our personal favorite, The Goonies!
Right now this is the best free spins when depositing £5 at a casino in the UK!
Sun Vegas: Deposit £5 and get 110 Free Spins
The Sun newspaper is no stranger to anyone from the UK.
Any Brit will be familiar with the brand due to their over-the-top headlines, and of course page 3 girls before the turn of the century.
The Sun brand branched out with Sun Vegas, an online casino, fairly recently in 2020, but thanks to its millions of readers it managed to become one of the most popular and trusted online casinos in the UK.
The Sun Vegas current promotion sees any new customer receive 110 free spins, worth £11 in total, when they deposit and play £5 on any game or slot.
That’s the equivalent of a 210% bonus!
It’s always important to read the terms and conditions of any promotion. This ensures you meet the criteria plus ensures you follow the exact steps involved.
The terms and conditions to the Sun Vegas £5 deposit offer can be found here
In summary, players will receive 10 free spins worth 10p each for registering a new account, and will receive an additional 100 free spins worth 10p each once £5 has been successfully deposited and played.
The free spins can not be played on all slots, but there are 15 different slots to choose from to play.
There are strict rules before winnings from free spins can be withdrawn, the details of which can be found using the link above.
LivescoreBet: Deposit £5 and get 100 Free Spins
Although LivescoreBet isn’t one of the most recognisable brands in the UK, it first launched way back in 1998 as a live score aggregator and distributor.
It has transformed and changed hands over the years, and is now owned by the Anzo Group who own and operate a number of online gaming brands across the betting spectrum.
Although it’s a recently launched casino it is offering a really good £5 deposit bonus of 100 free spins.
There are of course some terms and conditions to follow, and criteria to be met.
In summary, to be eligible for the 100 free spins, the £5 deposit must be played using slots and can’t be played using any other casino game.
The free slots offer must be claimed within 24 hours of opening an account, or they are forfeited, so quick gameplay on the deposit is essential.
Also once the free 100 spins have been awarded they can only be played using the Big Bass Bonanza slot game. They can not be used on any other slot or casino game.
Full terms and conditions can be found on the LivescoreBet website.
How to best use a casino £5 deposit bonus
Once a casino has been decided, it’s time to put your bonus to good use.
Some casinos can be restrictive on how bonuses are spent, when free spins are offered, whereas some casinos provide a real cash bonus where the player can choose where to play.
But, which games are best to play with a £5 deposit bonus?
It often depends on the player’s risk attitude.
Some players will see this bonus as a good investment to play safe and make the easiest returns possible, whereas others will see the bonus as free money and go all out for the longest odds, riskiest bets in the hope of striking gold!
We’ll look at both options:
Lowest Odds to Make a Return (LOMR)
For those cautious players, the LOMR option may be the best course of action.
This is simply where a player will bet on a low bet game for the chance of winning some withdrawable cash.
Bonuses are unable to be withdrawn as cash, but winnings from deposit bonuses can be.
Typically, the lowest odds found at a casino will be 1:1 or evens.
This means for every £5 staked the player will win £5 back as well as the original stake, so essentially the player will double their money.
The easiest way to do this is simply betting on either red or black on roulette.
The odds aren’t strictly evens due to the green 0 being in play, but this is as close to evens as can be found at an online casino.
If you need help deciding on whether to choose red or black, a suggested next read is our guide to the best colour to bet on playing Roulette
Highest Odds to Maximise Returns (HOMR)
For the cautious player that sees the bonus as nothing more than free play money which has to be wagered to be put to good use, you may decide to high roll this one for the longest odds and highest returns.
Slots are a possible option here.
It won’t take long to burn through £5 bonus worth of free spins, but equally each spin could be a winning spin that lands the jackpot prize.
Considering some slots can pay over a £1million prize it could be the best bonus ever collected!
Of course the odds are very remote but that’s what HOMR is all about!
If odds of over a million to one seem too implausible, then choosing an exact number on roulette may be a way to go.
At odds of 35-1, a welcome bonus of £10 would see a withdrawable amount of £350.
Why do casinos offer £5 deposit bonuses
Signing up to a casino with a £5 deposit and being rewarded with a cash bonus, or free spins, worth more than the deposit may sound too good to be true.
Why would a casino give away more than they are being given.
This doesn’t sound like casinos at all!
The reason casinos can afford to do this is because most players who go on to use their free spins, or their bonus cash, spend back their winnings meaning the casino rarely loses.
Plus the player will go on to spend their deposit too.
There will be a few players of course who will place their £5 deposit, play their bonus, win but withdraw the winnings and bonus again – but these players are very much in the minority,
A very small number of players will randomly hit big on slots or casino games using their bonus, but these wins are already factored into the margins of the casino and so the casino doesn’t lose here either.
Bonuses are almost expected now as every casino offers them, so in some ways the bonus is part of the overall experience and many players would overlook the launch of a new casino without an enticing welcome bonus.
Statistically the casino will always win, and so any bonus or winnings are carefully calculated within their forecasts to never be out of pocket, but of course there will be players who walk away with a tidy sum!
How do casinos make money from £5 deposit bonuses
With casinos giving away up to £20 for every £5 deposited it could easily be questioned as to how a casino doesn’t lose money.
If you gave someone £20 for every £5 you were given, you’d be out of pocket very quickly.
As mentioned previously, the majority of users not only spend their deposit but their bonus too, including any winnings from it – unless they strike it big which of course is statistically uncommon.
Not only this but once you have signed up, and provided your contact details, the casino will be able to continue to promote their services, new games and special offers and entice people back again and again to continue to play.
It’s how almost all successful businesses operate.
By offering great games, decent competitive payouts as well as special bonuses and promotions, the casino keeps players returning.
This is fun for the player, and great for the casino of course.