Wagering is quite high as you might expect at 60x the bonus amount (AskGamblers have 30x wagering listed on this page however it was definitely 60x when I took it and I confirmed this was still the case with casino support today 19/08/2016) and there is also a maximum cash out of $100 but I think that's all very fair considering is a no deposit bonus.
Winaday proudly proclaim to have been operating for eight years on their homepage but it seems they haven't updated that page for a decent chunk of that time - the website is really quite basic by modern standards but at least the text and buttons are large and clear.
Because Winaday operates bespoke software it is simple to understand how this bonus works and there shouldn't be any possibility of having your winnings confiscated unless you are an advantage player blatantly taking the mickey. All games are permitted but as usual there is a range of contribution percentages from 100% for the slots right down to 1% for the roulette. Video Poker is set quite high at 20% so I chose to try my luck at that inbetween the slots to try and keep my balance ticking over.
I didn't manage a withdrawal from my free chip because of the high wagering requirement but I did enjoy playing the unique games enough to come back later and try my luck with the deposit bonuses which all come with a much lower 10x wager requirement. Nevertheless you can't argue with a $41 free chip and I definitely recommend giving this bonus and Winaday a try especially if you live in a country with limited choices for on-line gaming such as the USA.