No deposit bonus wagering requirements refer to the conditions that players must meet before they can withdraw winnings earned from a no deposit bonus. Typically expressed as a multiple of the bonus amount, these requirements dictate how many times players must wager the bonus before cashing out. For example, if a player receives a $50 bonus with a 20x wagering requirement, they must bet a total of $1,000 before they can access their winnings. Understanding these terms is crucial for players to maximize their bonus benefits and avoid unexpected restrictions.