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There’s a big variation on what the exact terms and rules are. There are some similarities to a no deposit casino bonus. Sometimes it comes with capped winnings and sometimes in combination with wagering requirements. Sometimes the wagering requirements are applied to the bonus, sometimes the winnings and sometimes both. There’s also something called Risk-free bets, which are fairly common.
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Wagering requirements are 50 times the deposit and bonus amount. The minimum deposit to get any of these bonuses is $25. All no deposit bonuses are in one way or another limited to certain games. These games are always from the same software company for each bonus.
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Yes, technically you can drop a massive progressive jackpot using free bonus cash. The problem is that firstly, the wagering requirements on such a win would be astronomical. Secondly, the maximum cap on winnings common on these promotions would mean you wouldn’t be able to withdraw anything close to the full amount. It’s best to avoid progressive jackpot games with such bonuses.
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However, newer releases can have up to 1024 paylines. With so many paylines, you just need to have the same symbol on adjacent reels. Cascading wilds are more like a memory from the old Internet games like Tetris or, more recently, Candy Crush. This increases the winning chances because the new symbols can easily form new winning combinations with the existing cascading wilds.