£5 Bingo Sites
£5 Minimum Deposit Bingo Sites
If you are on a budget, this list of bingo sites will accept just £5 as your minimum deposit. If you are looking to deposit even less you can find a list here that allow a minimum deposit of just £3 although it’s less common amongst bingo sites. There are some great sites here accepting a fiver deposit and give you £50 free in bingo tickets (1000% bonus) which is an amazing offer!
It’s not that common for bingo sites to accept a £5 deposit but we have sourced some exclusive offers directly from the website operators themselves in order to give our visitors more value for money.
Why is a £5 minimum deposit so rare?
From a financial perspective for the site itself it is not really very financially rewarding for them after UK taxes are applied. In 2014 the UK Government introduced a POC (Point of consumption) tax. Point of consumption means that although a company may not be based in the UK (therefore not paying UK taxes) any revenue generated from UK players should be taxable. The UK Gambling Commission pushed this through the courts by saying that player safety standards were not being met with some of the foreign licenses. Gambling operators put forward many arguments suggesting that this extra tax was not related to player safety standards and it was primarily for financial gain which they felt breached EU laws.
The introduction of a POC tax on gambling activity had many benefits for the UK. Bingo, Casino and Sports Betting operators alike could no longer avoid reducing their UK taxes. Player safety is now improving and players are more likely to be able to withdraw their winnings. More support is also given to Gambling Addiction programs. The downside from the increased taxation has meant that more and more websites are closing down and that bonuses have been reduced significantly. In 2018 POC tax was increased to 21% and included any bonuses awarded to players. So lets work this out (roughly)!
£25 bonus minus £5 = £20 minus 21% POC tax = Cost to operator £15.80
This calculation can change drastically depending on the terms and conditions applied to the bonus and the amount won / lost and wagered. As stated in our terms at the bottom of the website, we receive a commission for players so this would potentially also be an additional cost. General business taxes such as corporation tax and VAT could also apply.
Why offer a £5 minimum deposit if it’s such a bad deal for the bingo / casino site?
The intention is to encourage you to sign up and capture your details to send you further marketing. They hope that if you like the site that you will continue to play. Sometimes a website may offer their bonus as spins which actually may only have a value of 1p per spin or bingo tickets which are not included as a bonus. They may also have terms that basically cover their costs in terms of the bonus they are awarding players and you will be unable to withdraw until they break-even.