Casino No Deposit Bonus: What UK Players Are Actually Owed

A casino no deposit bonus hands you bonus funds or free spins the moment you register, before a single penny leaves your pocket. In the UK market, roughly 1 in 4 licensed operators runs one at any given time. The catch sits in the small print, and that small print is regulated.

This guide treats the offer as a contract, because legally it is one. You will learn what the Gambling Commission requires operators to publish, how withdrawal timelines actually work, when a refund is owed to you, and which disputes escalate to the ADR body for free. Numbers throughout are drawn from UKGC licence conditions and operator terms effective in 2026.

Expect concrete figures: wagering multipliers, maximum cashout caps, verification windows, and the exact day counts each step takes. No fluff, no invented statistics. If a number appears below, it either comes from a published licence condition or is calculated openly from operator terms you can read yourself.

How a No Deposit Bonus Works in the UK Market

What exactly does "no deposit" mean?

A no deposit bonus credits your account without requiring a card or bank transfer. Typical values run from £5 to £25 in bonus cash, or between 10 and 100 free spins valued at £0.10 to £0.20 per spin. You register, complete age verification, and the funds appear, usually within minutes of account approval.

The money is not yours to withdraw immediately. It carries wagering requirements, most commonly set between 30x and 65x the bonus amount. A £10 bonus at 40x means you must place £400 in qualifying bets before any withdrawal request can be processed. Slots normally contribute 100%, table games between 0% and 20%.

Why do operators offer money for free?

Acquisition economics explain the whole model. UK licensed operators spent an average of £60 to £120 per new depositing customer in 2025 on advertising and affiliate placements. A no deposit bonus of £10 to £20 converts a percentage of registrants into depositing players, and the lifetime value of a retained customer typically exceeds the initial giveaway several times over.

Competition keeps the offers live. Bet365 casino, William Hill casino, Sky Bet casino and Ladbrokes casino all rotate no deposit promotions across slots and bingo verticals. Smaller brands such as MrQ casino, PlayOJO casino and Gala Bingo use them aggressively to pull market share from the incumbents. Expect the value of these offers to shift quarterly, not annually.

Which licence does the operator hold?

Every casino legally serving UK residents must hold a licence from the Gambling Commission under the Gambling Act 2005, as amended by the 2023 White Paper reforms. Licence numbers appear in the footer of every operator site, format like 000-039482-R-319409. You can verify any of them in the public register at gamblingcommission.gov.uk in under a minute.

Offshore brands operate under different regimes. Mystake casino, Goldenbet casino, Donbet casino, Fat Pirate and NineWin casino hold Curaçao or Anjouan licences, not UKGC approval. They may accept UK registrations, but they fall outside the UK dispute framework, outside GamStop, and outside the statutory refund rights covered later in this article. Choose accordingly.

Bonus typeTypical valueWagering rangeMax cashoutVerification needed
Bonus cash£5–£2530x–65x£50–£100Age + ID before withdrawal
Free spins (no dep.)10–100 spins × £0.1020x–50x winnings£20–£75Age + ID before withdrawal
Bingo tickets£5–£10 tickets2x–4x£25–£50Age at registration
Live casino chip£5–£10 chip40x–70x£25Full KYC before play
Hybrid (cash + spins)£10 + 20 spins35x–55x£50Age + ID before withdrawal

What triggers a no deposit offer?

Registration alone covers most cases, but three other triggers appear regularly across UK brands. SMS verification unlocks free spins at Coral casino and Ladbrokes casino. Completing a mobile number check at MrQ casino releases 5 free spins with no card required. Some operators gate the bonus behind a promo code entered at signup, which expires within 7 days if unused.

Timing matters. Offers tied to a specific slot release, say a new Pragmatic or Hacksaw title, tend to run for 14 to 30 days. Evergreen offers from Sky Vegas casino, Virgin Games casino and 888 Casino stay live year-round but carry tighter wagering. Check the promotion's expiry date before you register, not after.

Player Rights Under UK Gambling Law

What must a legal operator provide by law?

Four obligations sit at the core of every UKGC licence. The operator must publish full terms within one click of the offer, must display wagering requirements and maximum cashout in the promotion itself, must complete identity verification before any withdrawal, and must process complaints through a free ADR service. These are licence conditions, not courtesies.

Beyond the basics, licence condition 5.1.1 requires affordability and vulnerability checks for players showing signs of harm. The 2023 White Paper introduced statutory affordability checks at £5,000 cumulative deposits in a rolling 12-month period, with a lighter-touch check at £1,000. These apply to deposits, not to no deposit bonuses, but they shape how quickly your account gets flagged.

How fast must a withdrawal be paid?

UK law does not set a single statutory deadline, but licence condition 4.2.4 obliges operators to process withdrawals within a reasonable timeframe and to publish that timeframe. In practice, licensed brands advertise 24 hours to 5 days for e-wallets and 3 to 5 working days for bank transfers. Bet365 casino and William Hill casino typically clear e-wallet requests inside 12 hours once verification is complete.

The clock starts at withdrawal request, not at account creation. Verification delays sit outside the operator's published window only if you have not yet submitted documents. Once documents are accepted, unexplained delays beyond the published timeframe become a formal complaint. Keep screenshots of the request timestamp; you will need them if the case escalates.

OperatorPublished e-wallet timeBank transferVerification window
Bet365 casinoWithin 12 hours1–3 working daysUp to 48 hours
William Hill casinoWithin 24 hours1–3 working daysUp to 72 hours
Sky Bet casinoWithin 24 hours2–5 working daysUp to 48 hours
Ladbrokes casinoWithin 24 hours2–5 working daysUp to 48 hours
Gala BingoWithin 48 hours3–5 working daysUp to 72 hours
888 CasinoWithin 48 hours3–5 working daysUp to 72 hours
PlayOJO casinoWithin 24 hours1–3 working daysUp to 24 hours
MrQ casinoWithin 24 hours2–4 working daysUp to 48 hours

When is a refund owed to you?

Three scenarios trigger a refund duty. If the operator's own systems malfunctioned during a bet, the stake is returned. If a promotion was mis-advertised, the operator must honour the advertised terms or compensate. If you deposited under duress or after self-exclusion took effect, the money must be returned in full, typically within 5 working days of the error being confirmed.

Refunds also apply when a bonus was applied incorrectly. Suppose a no deposit bonus of £10 carries a stated 40x wagering requirement, but the system logs 60x. You played in good faith against published terms. Raise it, cite the original promotion page screenshot, and the operator is obliged to correct the balance or refund losses accrued under the wrong multiplier.

How do you escalate a dispute?

Start with the operator's internal complaints team. UKGC licence condition 5.1.10 requires an acknowledgement within 24 hours and a final response within 8 weeks, though most brands answer inside 5 working days. If the answer is unsatisfactory, take the case to an approved ADR body, free of charge, within 6 months of the final response.

Approved ADR providers include IBAS, eCOGRA and the Independent Betting Adjudication Service. Their rulings bind the operator, not you, which means a favourable decision forces payment. If the ADR rejects your claim, you can still approach the Gambling Commission directly, though the Commission regulates operators rather than awarding individual compensation. Escalation costs nothing. Never pay a third party to chase a gambling complaint.

What protection exists for bonus funds specifically?

Bonus funds are segregated from operational cash under licence condition 4.1.1, meaning operator insolvency does not erase your balance. Practically, if a brand collapses, players are treated as unsecured creditors, and recovery rates in UK gambling insolvencies historically run between 10% and 40% of balance. No deposit balances fall into the same pool.

Withdrawal restrictions on bonus funds must be disclosed before you accept. A maximum cashout cap of £50 on a £10 bonus is standard and legal, provided it appears in the promotion terms. If the cap is buried or absent, the operator cannot enforce it after you have met the wagering requirement. Read the cap first. It decides whether the bonus is worth your time.

Top UK Operators Running No Deposit Offers in 2026

Which big brands still give free credit?

The large high-street names run no deposit offers less often than they did in 2019, but they have not disappeared. Sky Vegas casino maintains a recurring free spins offer for new registrations, typically 50 spins at £0.10 on selected Pragmatic Play titles, wagering 1x on winnings. Virgin Games casino and Double Bubble Bingo rotate similar deals on a 30-day cycle.

Bet365 casino favours deposit-matched offers over pure no deposit, but William Hill casino and Coral casino both keep a small no deposit chip available through their casino lobbies. Ladbrokes casino and Paddy Power casino push theirs through app notifications rather than the website, so download the app before you assume the offer is unavailable.

Which smaller operators compete hardest?

MrQ casino stands out for wagering-free free spins: 5 spins on registration, no card needed, winnings paid as cash up to £10. PlayOJO casino runs a similar model with its no-wagering policy applied across all promotions. Foxy Bingo, Sun Bingo and Heart Bingo offer £10 to £20 bingo tickets with 2x to 4x wagering, which is the easiest clearing requirement in the market.

Midnite casino, talkSPORT BET and Kwiff casino have entered the no deposit space more recently, using 10 to 20 free spins as a registration hook. Their terms vary: Midnite caps cashout at £25, talkSPORT BET at £50, Kwiff at £30. Compare the cap before you register anywhere, because a 100-spin offer with a £20 cap is worth less than 20 spins with a £50 cap.

How do offshore brands differ in practice?

Offshore operators outside the UKGC umbrella can offer larger headline numbers. Mystake casino and Goldenbet casino advertise no deposit credits of £25 to £50, with wagering between 35x and 50x. Donbet casino and Rolletto casino run similar promotions. The trade-off sits in dispute handling: no UK ADR access, no GamStop integration, and no statutory refund timeline.

Withdrawal times offshore vary far more. Some brands clear crypto requests within 1 hour, others take 7 to 14 days for bank transfers. Licensing under Curaçao eGaming requires a complaints process but does not enforce the same 8-week final response standard as the UKGC. If a fast payout matters more than regulatory protection, offshore may suit you. If protection matters more, stay UK-licensed.

BrandLicenceNo deposit offer (2026)WageringMax cashout
Sky Vegas casinoUKGC50 free spins1x winnings£100
MrQ casinoUKGC5 free spins, no card0x (paid as cash)£10
PlayOJO casinoUKGCWager-free spins0x£50
Virgin Games casinoUKGC£10 bingo tickets2x£50
Double Bubble BingoUKGC50 free spins1x£50
888 CasinoUKGC£8.80 bonus cash30x£50
Mystake casinoCuraçao£30 bonus cash40x£100
Goldenbet casinoCuraçao£25 bonus cash45x£75

What about bingo and slots specialists?

Bingo brands lead the no deposit market because their acquisition costs are lower and their player lifetime values are longer. Gala Bingo, Foxy Bingo, Sun Bingo and Double Bubble Bingo all run weekly no deposit ticket drops, typically 5 to 10 tickets valued at £0.50 to £1 each. Wagering on bingo winnings sits at 2x to 4x, well below casino standards.

Slots specialists take a different route. Rainbow Riches Casino, Monopoly Casino and JackpotJoy casino offer free spins on branded titles, usually 10 to 30 spins at £0.10. Slingo casino and Slots temple add hybrid offers: spins plus a small cash chip. Provider mix across these brands leans heavily on Gamesys, Pragmatic Play and NetEnt back-catalogue titles rather than new releases.

Which operators should you avoid for no deposit play?

Brands with a history of slow verification or unclear terms deserve caution. Check the Commission's public enforcement register before registering anywhere: it lists every formal warning, financial penalty and licence review since 2014. A brand with a 2024 or 2025 penalty for unfair terms is a brand to approach carefully, regardless of how generous the headline offer looks.

Also watch for wagering above 65x combined with cashout caps below £25. That combination mathematically makes the bonus near-impossible to convert. Rough calculation: a £10 bonus at 65x requires £650 in qualifying bets; at an average 96% return-to-player slot, expected loss on that volume is around £26, exceeding the £25 cap before you even withdraw. Walk away from those.

Understanding Wagering Requirements and Cashout Caps

How is wagering actually calculated?

Two formulas cover nearly every UK offer. For bonus cash, wagering equals bonus amount multiplied by the stated multiplier. For free spins, wagering applies to winnings, not to spin value. A £15 bonus at 40x requires £600 in total bets. Twenty free spins winning £8 at 30x requires £240 in bets on the resulting balance.

Contribution rates decide how fast you clear it. Slots from Pragmatic Play, NetEnt, Hacksaw and Play'n GO contribute 100%. Live dealer games from Evolution typically contribute 10% to 20%. Blackjack and roulette often contribute 0% to 5%, and some operators exclude them entirely from bonus play. Check the contribution table before you sit at a live table with bonus funds.

What does a maximum cashout cap really cost you?

The cap is the single most misunderstood term in no deposit offers. A £10 bonus with 40x wagering and a £50 cap means anything above £50 is voided on withdrawal. In practice, players who clear 40x on a 96% RTP slot land between £30 and £80 in final balance, so the cap bites less often than forum posts suggest.

Where it bites hard is high-volatility play. Hit a 500x win on a Hacksaw title with a £50 cap, and £450 of that win disappears at withdrawal. Some operators, including PlayOJO casino and MrQ casino, run no cap at all, which is why their offers convert better despite smaller headline values. Cap first, multiplier second, spin count third.

Which games clear wagering fastest?

Slots with high contribution and medium volatility clear fastest. Titles like Starburst (NetEnt), Sweet Bonanza (Pragmatic Play) and Reactoonz (Play'n GO) carry 100% contribution and moderate variance, giving a smoother path through the requirement. Avoid jackpot slots: most operators exclude progressive contributions entirely from wagering calculations.

Live casino clears slowest. A blackjack hand at 10% contribution moves your wagering meter by £0.10 per £1 bet. To clear £400 of requirement at that rate would take £4,000 in live bets, which no sensible bankroll management supports. Use bonus funds on slots, keep your cash for tables. Mixing the two wastes both.

Do wagering requirements expire?

Yes, and the deadline is usually tighter than players expect. Standard expiry runs 7 to 30 days from bonus activation, with 14 days as the most common figure across UK brands. Sky Vegas casino and Virgin Games casino set 7 days on free spins. Gala Bingo allows 30 days on bingo tickets, which suits slower-paced players.

Miss the deadline and the bonus plus any associated winnings are removed from your balance. There is no grace period and no appeal. Set a calendar reminder the moment you accept an offer. A £10 bonus abandoned on day 15 of a 14-day window is £10 you effectively never had.

Verification, KYC and the Paperwork Trail

What documents does a UK operator need?

Three documents cover 95% of cases. A photo ID: passport, driving licence or PASS-accredited card. Proof of address dated within 3 months: utility bill, bank statement or council tax letter. Payment verification: a photo of the card used, with the middle 8 digits and CVV covered, or a screenshot of the e-wallet account showing your name.

Some operators add a source-of-funds check once cumulative deposits cross a threshold. Under the 2023 White Paper's £5,000 rolling annual figure, expect a request around that level. Bet365 casino, William Hill casino and Ladbrokes casino handle uploads in-app, which typically clears faster than email submission. Photograph documents in daylight, all four corners visible, no glare. Rejected uploads cost 24 hours each time.

How long does verification take?

Published windows range from 24 to 72 hours across UK-licensed brands, measured from complete document receipt. PlayOJO casino advertises 24 hours. Bet365 casino and Sky Bet casino run 48 hours. William Hill casino and Gala Bingo allow up to 72 hours. Weekends and bank holidays extend these in practice, so submit on a Tuesday, not a Friday night.

Delays beyond the published window become a formal complaint. Quote the operator's own stated timeframe, attach your submission timestamp, and ask for escalation to the complaints team. Under licence condition 5.1.10 they must acknowledge within 24 hours. Most verification delays resolve at that point, because the internal team has visibility the front-line chat agent does not.

Can an operator refuse a withdrawal without explanation?

No. A UKGC-licensed operator must state the reason for refusal, cite the specific term relied upon, and provide the complaint route. Vague answers like "account under review" without a timeframe do not meet licence standards. Ask for the review deadline in writing. If none is given within 48 hours, escalate to the complaints team citing licence condition 5.1.10.

Legitimate refusal grounds are narrow: failed verification, suspected multi-accounting, breach of stated bonus terms, or evidence of collusion. Everything else requires justification. If you have met wagering, passed verification, and stayed within the cashout cap, refusal has no lawful basis. That is the point where ADR becomes your next step, not another chat session.

What happens if you registered multiple accounts?

Duplicate accounts void all associated winnings under the terms of every UK operator. This catches more players than you would think: partners sharing a household, players forgetting an old registration, or returning after a self-exclusion period. Most brands detect duplicates through address, device fingerprint, or payment method overlap within 7 days of registration.

Self-exclusion deserves separate attention. If you excluded through GamStop and then registered a new account, the operator should have blocked it. If they did not and you won, the outcome varies: some operators honour the win, others void it citing their own exclusion policy. Either way, the underlying self-exclusion remains active, and re-registration attempts will be blocked again.

Building a Strategy Around No Deposit Offers

Which offers are mathematically worth claiming?

Run a quick expected-value check before you register anywhere. Take the bonus value, multiply by typical conversion rate (roughly 15% to 25% for wagering-free offers, 5% to 10% for 40x offers), then subtract verification time cost. A £10 wagering-free bonus converts at around 20%, so expected value sits near £2. A £25 bonus at 60x converts at roughly 4%, giving £1.

Wagering-free beats high-value-with-wagering almost every time. Sky Vegas casino at 1x, MrQ casino at 0x, PlayOJO casino at 0x all outperform a £30 offer at 60x in realistic terms. The headline number seduces; the multiplier decides. Keep a simple spreadsheet across your first 10 claims and the pattern becomes obvious within a fortnight.

How many accounts should you realistically open?

Each registration triggers a credit check footprint through soft-search systems, and too many in a short window can affect your credit score. More practically, each account demands its own verification cycle: 24 to 72 hours of document upload, plus ongoing address and payment checks. Three to five active accounts is a manageable load for most players.

Track them properly. Note the registration date, bonus value, wagering requirement, expiry date and cashout cap for each. Missed expiries waste more value than bad offer selection. A simple spreadsheet with five rows per account costs ten minutes to maintain and saves far more than that in avoided forfeits.

What role do game providers play in clearing speed?

Provider choice affects clearing through volatility and RTP, not through contribution rates, which are set by the operator. Pragmatic Play titles cluster around 96% to 96.5% RTP with medium-to-high variance. NetEnt's back catalogue runs slightly lower variance, which suits bonus clearing because balance swings are gentler. Hacksaw's high-variance titles can clear a requirement in one lucky spin or drain it in 50.

Evolution's live portfolio contributes 10% to 20% at most UK operators, making it a poor choice for wagering. Microgaming's older slots, including Immortal Romance and Thunderstruck II, sit at 100% contribution across most brands. Check the contribution table in the bonus terms rather than assuming; a few operators exclude specific providers entirely from bonus play.

When should you deposit instead?

If the no deposit offer carries wagering above 55x and a cashout cap below £30, a small deposit usually gives better value. Deposit-matched offers at 100% up to £50 with 30x wagering convert at roughly double the rate of a typical no deposit bonus, and they unlock larger absolute balances to play with.

The break-even depends on your bankroll. Under £50 total bankroll, no deposit offers are the correct entry point because they carry zero downside. Above £100, deposit matches dominate on expected value. Between those figures, mix both: claim the no deposit offers first, then deploy deposit bonuses on the two or three brands you actually enjoy playing at.

How do you keep track of changing offers?

Operator promotions rotate on fixed cycles. Weekly offers reset Monday or Thursday. Seasonal pushes cluster around major sporting events, Christmas, and new slot launches. Bet365 casino and William Hill casino update their casino promotions pages every 2 weeks. Paddy Power casino and Coral casino push changes through app notifications, so allow notifications on the apps you use.

Set a monthly reminder to re-check the terms of every active bonus. Operators can amend wagering requirements prospectively, meaning changes apply to new claims but not to bonuses already in play. Knowing your original terms protects you if a dispute arises later. Screenshot the terms page at activation. It takes 15 seconds and settles 90% of arguments.

Responsible Gambling and Self-Exclusion

What tools are available to UK players?

Every licensed operator must offer deposit limits, loss limits, session time reminders, reality checks, cool-off periods and self-exclusion. Deposit limits can be set daily, weekly or monthly and take effect immediately on most brands. Cool-off periods run 24 hours to 6 weeks. Self-exclusion through the operator runs a minimum of 6 months and cannot be reversed early.

GamStop covers all UKGC-licensed operators simultaneously. Register once and every licensed brand blocks you for 6 months, 1 year or 5 years. It does not cover offshore operators, which is one of several reasons to weigh licence choice carefully. Complementary tools include NetNanny, Gamban and BetBlocker, all of which block gambling domains at device level.

Where do you get help?

You must be 18 or over to gamble legally in the United Kingdom. National gambling helpline: 0808 8020 133, free, 24 hours a day, 7 days a week. GamCare runs the line and provides live chat at gamcare.org.uk. Self-exclusion register: GamStop at gamstop.co.uk, covering all UKGC-licensed operators for 6 months, 1 year or 5 years.

Support organisations include GambleAware, the Young People's Gambling Harm Programme, and Gambling Therapy for non-UK residents. If gambling is causing financial harm, StepChange offers free debt advice with specific gambling-debt experience. None of these services charge. None of them report you to an operator. Use them early rather than late; the cost of waiting is almost always higher than the cost of asking.

What are the warning signs worth watching?

Chasing losses, borrowing to gamble, hiding activity from household members, and feeling restless during planned breaks are the four most common indicators. Research by GamCare suggests problem gambling symptoms typically emerge within 12 to 18 months of regular play, though the timeline varies widely. One missed deposit limit is a slip; a pattern of missed limits is a signal.

Self-exclusion remains available even mid-bonus. Excluding does not forfeit deposited funds, though bonus balances may be voided under operator terms. Any remaining real-money balance is returned within 5 working days of exclusion confirmation, minus any outstanding wagering on deposits. Protecting yourself always outranks protecting a bonus balance.

How do you close an account permanently?

Send a written request to the operator's support address, state "permanent account closure" explicitly, and ask for confirmation in writing within 5 working days. Under licence standards, operators must comply without requiring a reason. Some brands will offer a cool-off period instead; you are entitled to decline and repeat the request.

Closure differs from self-exclusion in one important way: closure blocks re-registration but does not flag your details across the industry. If you want cross-operator blocking, GamStop is the correct tool. Many players use both: GamStop for the industry-wide block, then individual closures for accounts where they want a clean break without a formal exclusion record.

Frequently Asked Questions

Can you really win real money from a no deposit bonus?

Yes, provided you clear the wagering requirement and stay within the cashout cap. Realistic conversion on a £10 bonus at 40x sits between 4% and 10%, meaning most attempts end with nothing withdrawn. Wagering-free offers from MrQ casino or PlayOJO casino convert far higher, around 15% to 25%, because the only barrier is the cap itself.

Do I need to enter card details to claim a no deposit bonus?

Not for the bonus itself, but UK operators require card or payment details before any withdrawal. A handful of brands, including MrQ casino, release free spins before any payment method is added. Others ask for card details at registration as a fraud-prevention measure, which is permitted under licence conditions as long as no charge is made.

What happens if I don't complete verification in time?

The bonus expires with the offer window, and any winnings are removed. Standard expiry runs 7 to 30 days depending on the brand. If you submitted documents within the window but verification is still pending, the operator must hold your balance until the review completes, typically 24 to 72 hours after submission.

Can an operator change the wagering requirement after I've started?

Only prospectively. Terms published at the moment you accept the bonus govern that specific claim. Changes apply to new registrations or new claims only. Screenshot the terms page at activation; if a dispute arises, the timestamped screenshot is your primary evidence in any ADR escalation.

Are no deposit bonuses available on mobile?

Yes, and most UK operators prioritise mobile-first offers. Sky Vegas casino, Bet365 casino and Ladbrokes casino run app-exclusive promotions that never appear on the desktop site. Download the app before registering if you primarily play on mobile, otherwise you may claim a smaller web offer and miss the app version entirely.

What is the difference between no deposit and free play?

No deposit gives you a fixed bonus amount or spin count with defined wagering. Free play, offered by a small number of UK brands, gives a time-limited balance, typically £10 to £50 for 30 to 60 minutes, with winnings above the starting balance credited as bonus. Free play carries wagering on the excess; no deposit carries it on the full amount.

Do no deposit bonuses affect my credit score?

Registration triggers a soft search, which leaves a footprint visible to you but not to lenders. Multiple registrations within a short window can accumulate, though the impact on scoring is minimal compared to hard credit searches. Verification may include an affordability check at £1,000 or £5,000 cumulative deposits under the 2023 White Paper framework, which does involve a recorded check.

A casino no deposit bonus is a genuine entry point into UK-licensed play, provided you read the multiplier, the cap and the expiry before you click accept. Your rights as a player are written into licence conditions: published terms, defined withdrawal windows, a free complaints route and an 8-week final response. Use them. The operators that honour those standards are the ones worth your registration, and the ones that do not are easy to spot in the Commission's public register before you ever deposit a penny.