If I were to choose between the number of players vs time-based, I think I will go for time based, because it can mean unlimited people can be able to claim as long as it was still under the duration. I didn't check if how much the minimum deposit to avail the no-deposit bonus but if it's only small then great. A lot of people will surely participate on it.
That's right, friend, because if it's based on time, before the set time runs out all gamblers can still claim it, but the average bonus that is given is relatively small because there is no limit to gamblers who can get a bonus.
Maybe there is no minimum deposit requirement to just get a bonus but usually bonuses can be withdrawn by depositing first.
For some reason, many gamblers chase bonuses but complain when asked to fulfill the requirements, even though there are no bonuses that are truly free.
We need to understand and research beforehand when going after bonuses so that we don't get into trouble that actually makes us complain.