500 Free Spins No Deposit UK: What the Promotion Really Costs the Player

A “500 free spins, no deposit” promotion sounds like a free trial, and in one narrow sense it is — the player does not fund the account before the spins land. Everything else about the offer sits a step further on. The spins are credited to a specific slot, the winnings they generate carry wagering requirements, the wagering requirements sit beneath a hard ceiling, and the ceiling sits beneath the Gambling Commission’s authority. This page walks that stack from top to bottom: what no-deposit spins really mean, which UK sites hold a Gambling Commission licence to run them, what the £5 and £2 stake limits do to a long bonus clearance, and how winnings actually reach a bank account once the play is done.

A notepad with a tally of spin counts rests beside a smartphone displaying a slot-reel icon on a desk.
32Red is listed on the Gambling Commission register under licence 045322-R-324275-019, active as of 18 September 2026.

Current as of 7 November 2026 against the Gambling Commission’s public register of licensed operators.

Table of Contents
  1. What a “500 Free Spins, No Deposit” Offer Actually Is
  2. The Licensing Frame Around No-Deposit Spins
  3. What the 10x Wagering Cap Does to a No-Deposit Bonus
  4. Stake Limits and Why They Matter Here
  5. Responsible Gambling Around a “Free” Offer
  6. How Winnings Reach a Bank Account
  7. Payment Methods at the Featured Operators
  8. Comparing the Featured Licensed UK Sites
  9. Reading the Register: What a Licence Entry Tells the Player
  10. The Operators on This Page
  11. What the Comparison Establishes
  12. Payment Methods at a UK-Licensed Casino
  13. Limits, Auto-play and What the Player Cannot Do
  14. Choosing a UK-Licensed Site for 500 Free Spins
  15. What to Check Before Claiming
  16. Where the Offer Stops
  17. Frequently Asked Questions

What a “500 Free Spins, No Deposit” Offer Actually Is

The headline is literal and it is also incomplete. The 500 spins land without a deposit, which is the genuine novelty of the offer — most casino bonuses gate the spins behind a first payment of £10 or £20. But the winnings those spins produce are not the same as cash. They become a bonus balance, and a bonus balance moves through wagering requirements before any of it can be withdrawn. A player who runs 500 spins on a 95% return-to-player slot at £0.10 per spin stakes £50 in nominal value; the £47.50-ish in expected returns is the starting line of the wagering requirement, not the finish.

A tidy desk with a notebook, a mug of tea and a laptop open to a checklist, morning light through a window.
As of 18 September 2026, the Gambling Commission’s public register listed 139 businesses holding an active remote casino operating licence.

The structure has three moving parts:

That is the whole transaction. A no-deposit offer is a marketing-funded trial where the player’s stake is the casino’s, the casino’s stake is the player’s time, and the player’s time is bounded by the spin clock — every licensed slot spin since 31 October 2021 must run no faster than one every 2.5 seconds, which puts a hard floor under how quickly wagering can be cleared.

The Licensing Frame Around No-Deposit Spins

A no-deposit promotion for UK players cannot legally run from an offshore licence. The Gambling (Licensing and Advertising) Act 2014 made it a condition that any operator taking customers in Great Britain — wherever that operator is based — must hold a Gambling Commission licence. A Curaçao or Malta authorisation does not substitute, and a UK-licensed operator cannot lawfully advertise a no-deposit offer to a customer it has not verified.

A magnifying glass rests over a printed regulatory certificate on a wooden desk.
On 18 September 2026, the Gambling Commission’s domain register held 1065 active and 361 white-label domain entries.

What the licence buys the player is not the offer itself. Every brand running a 500-free-spins promotion in the UK holds roughly the same licence; that is the price of being allowed to advertise to British players at all. What the licence buys is the surrounding protection:

The verification is done by the operator against the player. Since 7 May 2019, every UK-licensed casino must verify name, address and date of birth before the first deposit or any play. Anonymous play is not possible at a licensed site, even with a no-deposit offer — the spins themselves cannot be credited to an unverified account.

See also Crypto.

What the 10x Wagering Cap Does to a No-Deposit Bonus

The single biggest change to UK bonus terms in recent memory landed on 19 December 2025, when the Commission’s stake-and-wagering rules came into force. The headline figure is a 10x cap on wagering requirements. That is generous by industry history — pre-2020 wagering of 30x, 40x or even 65x on bonus balances was routine — and it is also the binding ceiling now, with no promotional licence to exceed it.

For a 500-free-spins no-deposit offer, the cap works like this. The £0.10 stake-per-spin is typical for these bundles, so 500 spins stake £50 in nominal play. A slot at a 96% return returns roughly £48 across the spins in expectation; a slot at 94% returns roughly £47. After the spins settle, the bonus balance is in the £45-£50 region. At the 10x cap, that balance needs £450-£500 of further play before it converts to cash. On a £0.10 spin that is 4,500 to 5,000 additional spins — and at the 2.5-second floor on spin speed, that is somewhere between three and a half and four hours of continuous play on the same slot.

The arithmetic matters because the no-deposit structure is precisely the case where the cap helps most. On a deposit match bonus, the wagering base is the deposit plus the bonus, and the 10x cap bites against the larger number. On a no-deposit offer, the wagering base is the bonus alone — whatever the spins returned — which keeps the play-time cost of the offer bounded. The cap did not make no-deposit offers generous. It made them honest.

A worked band, on the inputs the offer actually carries:

The band sits where it sits because the slot’s RTP is the single biggest unknown. A 96% title clears faster than a 92% title not because the wagering requirement changes but because the starting bonus balance is higher. The reader who knows the slot title can place the band precisely; the reader who does not should treat the upper end as the working figure.

Stake Limits and Why They Matter Here

The Commission introduced per-spin stake limits on online slots from 9 April 2025 for players aged 25 and over (£5) and from 21 May 2025 for players aged 18-24 (£2). On their face these limits do not touch a no-deposit free-spins offer — the spins run at the operator’s preset stake, almost always £0.10 to £0.20, well inside either tier. Where the limits start to bite is on the post-spin wagering.

A player who has finished the 500 spins and is now clearing the wagering requirement on the bonus balance is, by the Commission’s definition, gambling. The same stake limits apply. The £2 cap for 18-24s is rarely the binding constraint at £0.10 a spin, but the £5 cap for the over-25s is materially above what a no-deposit clearance typically runs at, so a player can opt to raise the spin value to clear wagering faster. The wagering requirement is the same total either way; the spin count drops as the stake rises. On a £45 bonus at 10x, with the player on £0.50 spins rather than £0.10, the clearance is 900 spins rather than 4,500 — about 37 minutes of play at the 2.5-second floor rather than three hours.

The Commission’s stake limits are not aimed at bonus clearance. They are aimed at the loss rate on real-money play. But the player who wants to clear a bonus quickly has been handed a permitted tool to do so, and a tool the Commission also expects them to use carefully.

Responsible Gambling Around a “Free” Offer

A no-deposit offer does not step outside the safer-gambling frame. It sits inside it. The Commission’s rulebook treats any promotional credit the same as cash for the purposes of player protection, because the offer is still a gateway to real-money play once the wagering is done.

What that means in practice:

The point is not that a 500-free-spins offer is dangerous. The point is that the offer is not a separate activity from real-money gambling. It is the front door to it.

How Winnings Reach a Bank Account

No-deposit spins end in one of two ways. Either the wagering requirement is met and the bonus balance converts to cash, or it is not and the balance expires. The path between those two states is the same path as for any bonus: a withdrawal request, identity checks already complete from the original sign-up, a payment method on file, and a payout window the operator’s terms publish.

UK players cannot fund play with a credit card. That ban took effect on 14 April 2020 across all online and offline gambling products in Great Britain, and it extends to credit-card-funded e-wallet top-ups. The withdrawal side is unaffected: a debit card, a bank transfer or an e-wallet loaded from a debit card is fine, and the operator pays back to the method that was used, where one exists.

For no-deposit winnings specifically, the method on file is usually empty at the point of conversion — the player never deposited. The operator will then ask the player to nominate a withdrawal method and verify it before paying out. The verification is the same KYC the operator ran at sign-up, plus a confirmation that the withdrawal destination is in the player’s own name. That confirmation can take 24-72 hours on a first withdrawal even at the fastest UK brands, because the operator is doing a fuller check than the routine credit-card refund path. Subsequent withdrawals move faster.

The withdrawal method itself sets the arrival time:

A player who clears wagering on a Tuesday afternoon should expect the winnings on the same day at the fastest operators, or within 24 hours at the median. Anything beyond 48 working hours is a complaint route, not a wait.

The brands in the table below run on the same licence regime — every one is a Gambling Commission remote casino licensee — but they differ on which deposit and withdrawal methods they support. Apple Pay has been a UK-supported payment rail since 14 July 2015, with tokenisation replacing the actual card number at the point of sale and a dynamic security code generated per transaction. AstroPay, headquartered in Uruguay and active across ten markets including the UK, runs an electronic money institution authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011. Bank transfer is the default fallback, almost always via Faster Payments, with the scheme running 24/7 and most transfers arriving instantly.

The table below records the licence position the brands share and the payment-method footprint they each publish. The “subject support” column is blank across the set because no featured brand publishes a confirmed 500-free-spins no-deposit offer in the register snapshot; the column exists to make that absence visible, not to paper over it.

The table below compares the ten licensed operators on the matters that decide which of them a reader can actually use. Licence holder and remote casino licence number are the verifiable, register-grade facts. Domain status is what the Commission’s own public register records for the brand’s URL as of 18 September 2026. Subject support is what each operator’s own terms or current promotion page says about a 500-free-spins no-deposit offer — and that column is empty across the set, because no featured brand publishes a confirmed 500-free-spins no-deposit offer in the register snapshot this page reads against. The reader who sees an empty cell there is being told what the public register says, not what the marketing email said yesterday.

BrandLicence holder and GB remote casino licenceDomain status on the registerSubject support
32RedPlatinum Gaming Limited · 045322-R-324275-019Active—
MidniteDribble Media Limited · 042647-R-321653-022Active—
Sky VegasBonne Terre Gaming Limited · 065519-R-339675-002Active—
JackpotjoyGamesys Operations Limited · 038905-R-319430-022Active—
BetVictorBV Gaming Limited · 039576-R-319370-028Active—
CasumoRecro Limited · 061549-R-336718-002Active—
CoralLC International Limited · 054743-R-330863-014Active—
UnibetPlatinum Gaming Limited · 045322-R-324275-019Active—
Paddy PowerPPB Games Limited · 039411-R-319335-010Active—
bet365Hillside (UK Gaming) ENC · 055149-R-331499-004Active—

The licence numbers above are not interchangeable. The format is the Commission’s own — a six-digit account number, an “R” marking the licence as remote, a second identifier, and a suffix — and the six-digit prefix repeats the licence-holder’s account number on the register. Where two brands share a licence number, they share a licence holder: 32Red and Unibet both sit under Platinum Gaming Limited, account 45322. That is not a quirk and not a mistake. It is the way the Commission’s register records that a single corporate group can run more than one consumer brand under one licence, and a player who reaches the Commission’s complaints route against either brand will find the same legal entity at the other end.

The empty “subject support” column is the more important reading. The register the Commission’s public download generates on 18 September 2026 does not list any of these brands as offering a 500-free-spins no-deposit promotion in a way that survives the licence register’s own audit trail. What the marketing emails say on the morning a reader opens one is a different record, kept by the operator, refreshed on its own cycle, and not part of what the Commission’s CSV captures. A reader who sees “500 free spins, no deposit” in an email from any of these brands is being told something the operator asserts today. They are not being told something the Commission’s register confirms. Both records are public. The table shows the register; the marketing email is its own document.

500 Free Spins No Deposit UK — More on this topic at casino providers uk.

Reading the Register: What a Licence Entry Tells the Player

The Commission’s public register is the test of whether a brand is licensed. Three things sit on the entry that matter to a player evaluating a no-deposit offer:

The register also records 1,065 active and 361 white-label domain entries as of the snapshot this page reads against. Those counts are the size of the addressable UK licensed market, not the size of any operator’s offer. A reader comparing two brands’ spins offers is comparing two operators out of a market of more than 1,400 registered domains. The market is wider than any comparison can be.

The Operators on This Page

The brands below are the ten that appear on the Commission’s public register as active, remote-casino-licensed, and listed against the licence account that runs them. The verdicts at the end of each entry are this page’s own, based on what the licence data and the wider Commission rulebook actually establish — not on what the marketing claims the offer is worth. A reader looking for a specific brand should find it here; a reader choosing between them should find the comparison the table above is too thin to make.

32Red — the longest-running licence in the set

32Red sits under Platinum Gaming Limited, the same licence holder as Unibet. Account 45322 is among the older entries on the Commission’s register and the consumer brand has been live since the early 2000s. The shared licence is the relevant fact: 32Red and Unibet are not competing on the regulator’s record, they are two products from the same operator. For a player, that means a complaint about one ends at the same legal entity as a complaint about the other, and the responsible-gambling tools are the same toolkit with a different skin on top.

The verdict is straightforward. 32Red is the brand for a player who wants the longest tenure on the Commission’s register among the consumer-facing casino brands in this set, and is comfortable with that licence being shared with a second consumer brand. It is not the brand for a player who is choosing between Platinum Gaming’s two products on licence grounds — that choice is not real, it is marketing.

Midnite — newer licence, narrower footprint

Dribble Media Limited holds the Midnite licence under account 42647. The brand is newer to the UK market than 32Red or Sky Vegas and the licence is correspondingly more recent on the register. The narrower consumer footprint shows up in the operator’s own product mix: tighter slot catalogue, a sportsbook on the same licence, less of the bingo and live-dealer weight the older brands carry.

A player who wants a smaller operator with a single licence and a single product direction should put Midnite on the shortlist. A player who wants the full slot catalogue or the longest bonus menu should look elsewhere.

Sky Vegas — part of a broadcast-scale group

Bonne Terre Gaming Limited runs Sky Vegas under account 65519, and the parent group is one of the larger broadcast and media operators in the UK. The licence record shows what that scale buys: a single consumer brand on a single licence, with the marketing reach of a media group behind it. That reach is the relevant fact. The Commission’s register cannot tell the reader whether Sky Vegas runs a 500-free-spins no-deposit promotion on any given day; the broadcast group can put the offer in front of more eyeballs than a single-brand operator can.

Sky Vegas is the brand for a player who is comfortable with a media-group operator. It is not a brand that stands apart from the licence holder on the register, and the reader who treats it as a smaller, independent casino is being misled by the consumer-facing wrapper.

Jackpotjoy — the bingo-rooted licence holder

Gamesys Operations Limited runs Jackpotjoy under account 38905. The group has a long history on the UK bingo and slots side and the licence record reflects that history. A player who arrives at Jackpotjoy through the bingo vertical rather than the slots vertical will find a familiar product shape: lower-stake games, a higher proportion of networked jackpots, a different promotional cadence than the casino-first brands.

The brand is a fit for a player whose history with UK gambling runs through bingo. It is not the brand for a player who wants a casino-first product catalogue; the slot list is narrower than a casino-first operator’s would be.

BetVictor — single-brand operator with a long register entry

BV Gaming Limited holds the BetVictor licence under account 39576. The brand has been on the UK market across multiple product generations and the licence entry reflects a long, unbroken tenure on the register. The corporate structure is simpler than most of the others — BetVictor is the consumer brand and BV Gaming is the licence holder, with no sibling consumer brands on the same licence in this comparison set.

That simplicity is the relevant fact. A player who wants a single-brand operator with no shared-licence complications should put BetVictor on the shortlist. The register entry is what the marketing claim of “independent” rests on, and the register confirms it.

Casumo — a non-UK parent on a UK licence

Recro Limited holds the Casumo licence under account 61549, and the parent group sits outside the UK. The relevant fact for a UK player is that the licence is held by a UK-registered company (Recro Limited) on a UK Gambling Commission licence, and that the Commission’s enforcement reach extends to the UK entity regardless of where the parent group is headquartered. A no-deposit offer credited by Casumo is offered under the Commission’s rulebook; a complaint routes to Recro Limited, then to ADR, then to the Commission if it goes that far.

The brand suits a player who is comfortable with a UK-licensed operator whose parent is based elsewhere, and who is choosing on product rather than on licence geography.

Coral — shared licence with the wider group

LC International Limited runs Coral under account 54743, and that same licence holder also runs Ladbrokes and Gala Bingo outside the consumer-casino frame this comparison covers. The shared-licence point that applied to 32Red and Unibet applies here with more force: three large consumer brands under one licence holder, with one responsible-gambling toolkit and one complaints route.

Coral is the brand for a player who is comfortable with one of the larger UK-facing licence holders, and who is happy with a product that sits across casino, bingo and sportsbook. The licence record cannot tell the reader which of those three LC International products is the right one — that is a product choice, not a licence one.

Unibet — the sibling brand to 32Red

Platinum Gaming Limited runs Unibet under account 45322, the same account as 32Red. The shared licence is the only relevant fact on the register: Unibet and 32Red are two consumer brands from the same operator, with the same responsible-gambling tooling and the same complaints route. A player who tries to choose between them on licence grounds is choosing on something that is not real.

Unibet suits a player who wants the product mix the operator runs under that account rather than 32Red’s specific catalogue. Beyond that, the comparison between the two brands is a product comparison the Commission’s register is too coarse to make.

Paddy Power — another shared-licence setup

PPB Games Limited runs Paddy Power under account 39411, and the parent group sits within the larger Flutter group. The shared-licence complication is similar to Coral’s and 32Red’s: a consumer brand sits on a licence account that also runs sibling brands outside this comparison set. The Commission’s register confirms the licence; the comparison between Paddy Power and its siblings is a product comparison, not a licence one.

The brand suits a player who wants one of the larger UK-facing operators and is comfortable with the shared-licence structure that comes with it.

bet365 — the largest single operator in the set

Hillside (UK Gaming) ENC runs bet365 under account 55149. The licence record reflects what the brand already implies: a single, large operator on a single licence, with the product mix to match. The relevant fact is the scale. The Commission’s register lists bet365 as an active domain of one licence holder, with no sibling consumer brands on that same account in this comparison set. That is the cleanest licence structure in the set and it is the simplest one for a reader to verify.

bet365 is the brand for a player who wants the largest UK-facing operator with the simplest licence footprint to check. The register is what the brand’s marketing claim of being a single-operator UK-licensed casino rests on, and the register confirms it.

What the Comparison Establishes

Reading the table and the write-ups together, three points hold across the whole featured set:

The comparison cannot answer which brand is best. It can answer which licences are real, which holders sit behind them, and where the reader should look if the offer they saw this morning turns out not to be there tomorrow.

Payment Methods at a UK-Licensed Casino

Three methods cover almost every UK-licensed casino’s deposit and withdrawal footprint: Apple Pay, AstroPay, and bank transfer via Faster Payments. Each has a different regulatory and operational shape.

Apple Pay launched on 20 October 2014 with US-issued cards only, and began supporting UK-issued cards on 14 July 2015. Card data is protected through tokenisation — the actual card number is replaced with a device-specific tokenised Device Primary Account Number, and a dynamic security code is generated for each transaction. In-store payments use NFC to communicate with contactless terminals; on an iPhone with Face ID the payment is authenticated by double-clicking the side button, on Touch ID models by double-clicking the Home button. Apple requires a supported card from a participating issuer, and Apple Pay is not available in every market. The Consumer Financial Protection Bureau brought large non-bank digital wallet operators, including Apple Pay, under bank-like federal oversight in November 2024, and the European Commission opened a 2020 investigation into whether Apple’s control of iPhone NFC hardware blocks rival contactless payment apps. None of that changes the casino use case: Apple Pay at a UK-licensed casino is a debit-card-funded payment, not a credit one, and the 14 April 2020 credit-card ban does not touch it.

AstroPay was founded in 2009 in Uruguay and operates as a global digital wallet offering online payments, virtual and physical debit cards, and peer-to-peer transfers. Its payment-processing business dLocal was spun off as a separate company in 2016. The UK entity, Larstal Limited, is an electronic money institution authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011; the Isle of Man entity, AstroPay Global (IOM) Limited, is licensed by the Isle of Man Financial Services Authority for money transmission; the Brazilian entity is authorised by the Brazilian Central Bank as an electronic currency issuer; and the Danish entity is authorised as an electronic money institution by the Danish Financial Supervisory Authority. AstroPay serves users across Argentina, Australia, Brazil, Canada, Colombia, Denmark, Spain, the UK, the US and Uruguay. A player funding a UK-licensed casino through AstroPay is funding it through an FCA-authorised e-money account loaded from a debit card, and the credit-card ban is enforced at that load step.

Bank transfer via Faster Payments runs on the UK’s Faster Payments Service, launched in 2008 and operated by Pay.UK. The scheme operates 24 hours a day, seven days a week, with most payments arriving instantly or within a couple of minutes and occasional transfers taking up to two hours. The scheme limit is £1,000,000 per transaction, though individual banks impose lower limits. The Bank of England oversees the system’s safety and stability and provides final settlement, but is not a direct participant. For casino withdrawals, Faster Payments is the typical arrival rail at the UK’s faster-paying operators, with the operator’s own processing window sitting in front of the scheme’s.

None of these methods changes the bonus arithmetic. The 10x cap, the spin speed, the stake limits and the identity checks all sit in front of whatever payment rail the player uses to fund or withdraw.

Limits, Auto-play and What the Player Cannot Do

The Commission’s rulebook on slots is not aimed at no-deposit offers specifically. It is aimed at all online slots played for real money or promotional credit. Three rules bear directly on how a 500-free-spins offer plays:

These are the structural rules that determine how long a no-deposit bonus takes to clear, regardless of which brand the player chooses.

Choosing a UK-Licensed Site for 500 Free Spins

The choice a UK player actually has is not a choice about the bonus. The 10x cap is the same at every licensed site, the spin-speed floor is the same at every licensed site, and the verification requirement is the same at every licensed site. The choice is about the licence holder.

For most players the relevant questions are:

Those questions matter more than which specific slot the spins are credited to or which exact 500-free-spins no-deposit offer the brand is running this week.

What to Check Before Claiming

A no-deposit offer is a marketing-funded trial. The Commission’s rulebook makes it more honest than it used to be, and the 10x wagering cap makes it more honest still, but the offer still rests on the operator’s own terms. Five things to check before claiming any 500-free-spins no-deposit promotion at a UK-licensed site:

A reader who knows all five can place the offer’s value precisely, and the value is bounded in a way that pre-2025 wagering terms did not allow.

Where the Offer Stops

A 500-free-spins no-deposit promotion at a UK-licensed site is, on this page’s reading, a tightly bounded marketing-funded trial. The licence is the Commission’s. The wagering cap is 10x. The spin clock is 2.5 seconds. The conversion cap, where one exists, is in the operator’s terms. The withdrawal goes through Faster Payments at the fastest brands and through a debit-card refund or e-wallet at the rest.

What the offer is not is a way to make money. The arithmetic on the worked band above — three to three and a half hours of play to clear wagering on a £45-£50 bonus, with the player’s time as the real stake — is what the offer costs. The marketing headline is “500 free spins, no deposit”. The honest reading is: 500 spins, with the casino’s money, on a slow slot clock, against a hard wagering ceiling, with conversion capped, with a withdrawal window the operator sets. That is what the Commission’s rulebook produces, and that is what a UK player should expect.

Frequently Asked Questions

What does 500 free spins with no deposit actually mean?

It means the casino credits 500 spins on a named slot without the player funding the account first. The spins run at a preset stake, and any winnings go into a bonus balance rather than a cash balance. The bonus balance then moves through wagering requirements — capped at 10x under the Commission’s December 2025 rules — before it can convert to withdrawable cash.

Are there wagering requirements on winnings from 500 free spins?

Yes. The Commission’s 10x cap on wagering requirements has been in force since 19 December 2025 and applies to every UK-licensed bonus, including no-deposit free-spins offers. On a £45-£50 bonus balance, that means roughly £450-£500 of further play before the balance converts to cash.

Is there a maximum win cap on 500 no-deposit free spins?

Some operators impose a maximum-conversion cap that limits how much of the bonus balance converts to real cash regardless of how much wagering clears. The cap is permitted under the Commission’s rulebook as long as it is disclosed in the offer terms before the player claims. The exact figure varies by brand and by promotion.

Does GAMSTOP self-exclusion cover a 500 free spins offer?

Yes. GAMSTOP blocks the player from creating or using an account at any UK-licensed online gambling operator for the chosen exclusion period — six months, one year or five years. The exclusion applies whether the player is staking their own money or playing through a credited bonus, and it cannot be cancelled early.

How long do 500 no-deposit free spins stay valid once credited?

Typically 24 to 72 hours from the credit time, depending on the operator. The bonus balance that results from the spins usually has a longer window — 7 to 30 days — to clear wagering before it expires. Missing the expiry forfeits the balance, including anything that has already cleared wagering.

Must a casino be licensed by the Gambling Commission to offer 500 free spins with no deposit to UK players?

Yes. Under the Gambling (Licensing and Advertising) Act 2014, any operator taking customers in Great Britain must hold a Gambling Commission licence, regardless of where the operator is based. A Curaçao or Malta licence does not substitute, and the player can check the Commission’s public register to confirm a brand’s licence status.