To understand what are wagering requirements, you have to first understand what is a wager. A wager, simply put, is a bet. But what does wager mean at an online casino? A wager is essentially a bet or money that is spent on either an online slot, bingo, poker, a table game or any casino game. It refers to the amount of money you stake with each hand of cards, spin of reels, or sports match. When it comes to an online casino bonus, it also usually comes with a wagering requirement attached to it. It can also refer to the amount of money that you bet overall, in a session or specific period.
What are the wagering requirements?
Whenever you sign up for a new online casino or take advantage of a promotion at an online casino you have already played with, you will find a variety of bonus packages. These include things like free spins, free bets, and cash bonuses. However, these promotions come with strings attached, and these strings are known as wagering requirements. Such requirements are stipulations that you must wager a certain amount of money before you can withdraw the bonus or receive any winnings you gain from it. Most newbies have trouble comprehending the wagering part. If you do not meet these wagering requirements, your bonus money will never be converted into real money for withdrawal. Additionally, some casino games contribute a smaller percentage towards the wagering requirements than others. Games such as online blackjack and roulette often contribute a lot less towards these requirements than slot games.
How do wagering requirements work?
Wagering requirements are different for each bonus type. With a cash bonus, you will have to bet through a specified multiplier before you can withdraw any bonus funds and related winnings.
For example, you are taking a cash casino bonus that has a 30X wagering requirement.
It means you would have to bet the bonus amount thirty times over before you can withdraw it and the earnings (if any) you get from it. If you wager free spins, you can still be facing requirements. Because free spins do not come with a cash sum, the multiplier applies only to the earnings that you may receive from the free spins. Normally, even free bets come with requirements. You may have to deposit a certain amount, depending on the casino you are playing with, before you gain the bonus, or only bet on sports with certain odds.
How to mathematically calculate the wagering requirement of a bonus?
You need to understand how the world of wagering requirements work and on how to better pick a casino bonus that best fits your bankroll. Simply plug in your numbers and you have a baseline:
(Bonus Amount) X (Wagering Requirement) = Total Bet
Let us take an example to make you understand even better.
Let us say you deposit €50. You receive a match-deposit bonus of €50, and your wagering requirement is 30X.
The formula would look like: (€50) X (30) = €1,500
Depending on the casino, you could encounter a sticky bonus. Your initial deposit is also included in the wagering requirements and the formula is changed:
(Bonus Amount) + (Initial Deposit) X (Wagering Requirement) = Total bet
Following the first example, the formula would look like this: (€50) + (€50) X (30) = €3,000.
These numbers seem high, but they are not incredibly difficult to meet. You will be able to use the winnings from the bonus money to make wagers, and if you make them smartly you can usually beat the requirements and have a bit left over at the end. You can use a wagering requirements calculator online if you do not want to do the maths yourself. This eliminates the chance of human error in your calculations and ensures you know exactly how much you need to bet immediately.
Where can I learn more about a casino bonus’ wagering requirement?
Due to several laws and regulations, the wagering requirements are more visible now and players have access to all relevant information. Even so, by law, any casino operator providing a cash bonus offer, including free spins, must display the terms and conditions, wagering requirements and other information that might prevent the player from making a withdrawal freely. You have got to make sure you always read the fine print. Usually, this includes a link in an e-mail or on the promotions page. If, for some reason or another, you are unable to find the amount stipulated for the wagering requirement, or else, the offer states that ‘wagering requirements’ apply, then go to the Terms and Conditions page or talk to customer support to make sure you know what you are choosing before you leave your money.
Why do wagering requirements exist?
Although the bane of the existence of many casino players, this is no ploy by the casino to get more money from the player. There is a legitimate reason in place. The truth of the matter is that wagering requirements are in place due to the casinos’ requirement to comply with anti-money laundering regulations. If online casinos had no wagering requirements, it would be easy for criminals to clean up their illegal funds by depositing and withdrawing immediately.
How do I beat online casino wagering requirements?
We have explained how to calculate wagering requirements to make a withdrawal. Now, to make sure you get the most out of your online casino adventure you can take up the following steps:
Terms and conditions
While you get the chance to claim some welcome bonus money or other promotional offers, you have to go through the terms and conditions very carefully. The fine print will inform you of all the strings attached to the bonus offer, including what the wagering requirements are and what you need to do to beat them. You will generally have to make a minimum deposit to receive the bonus first. You may need to use a certain deposit method to claim it and have a limited amount of time to use it. Each online casino is different, and they all have different rules and regulations when it comes to meeting the requirements.
Choosing your casino
Some casinos have wagering requirements of 50X or more, while some require less than 30X. Some also limit the amount of money you can win from casino bonuses, so it is imperative you do your research and shop around. Try to choose a casino which has favourable bonus terms, and make sure it has a good reputation among enthusiasts. Before signing up to an online casino you should make sure that it is licenced by a reputable gaming authority. It must be fully licensed and regulated, simple to use, and have easily accessible customer support in case you have questions or encounter any problems with your bonus.
Choosing your games
Different games will contribute varying percentages of your wager. you have to check out which games qualify and what percentage of your wager they are contributing to, then play the games that give you the most bang for your wagering requirement amount. Online slots typically contribute 100% of your bet. On the other hand, table games and card games will contribute just 50% or even less. If you choose to play the slots, you will find that you meet your requirements more quickly and easily.
Play the right way
You know that slots are likely to help you meet your wagering requirements more quickly, but not all slots are created equal. It is important to pay attention to the variance of your games and the RTP (Return to Player Percentage). The games with a lower RTP have a higher variance. They do not pay out as often, but when they do, they pay out larger amounts. If you are trying to meet wagering requirements, you can play these types of games at the beginning. This will allow you the chance to significantly increase your bankroll, and insure yourself against possible losses in the future. Once you have padded out your bankroll, you can take it easy and play lower-variance games. These will have a high RTP, meaning they pay out smaller amounts but more consistently. They are a safer bet because they do not diminish your bankroll as easily and allow you to keep more of your winnings over time.
If you do not want to worry about wagering requirements, you can choose to opt-out of the bonus entirely. Sometimes casinos will have the option readily available, but you may have to contact customer support to convey your wishes.
Are wagering requirements avoidable?
If you do not want the wagering requirements to create a hassle, you can always give up your bonus but it is not recommended. Also if you are limited by a wagering requirement, a casino bonus can improve your bankroll double and triple at times. This gives you plenty of time to play the jackpot slot game you love, or to try out the latest slot machine. You will meet the wagering criteria before you know it and be free to make a withdrawal.
What are wager-free casino bonus offers?
A wager-free casino bonus offer is a bonus offer without any wager requirements attached to it. The real beauty of these offers is that they can be taken up without any interruption. Although they might be on the smaller side, the big plus here is that you usually do not need to deposit before you take advantage of them. They come in the form of either a no deposit bonus offer or a free spin wager. The attraction of these offers is well known to casino operators, so it is no surprise that many casinos are promoting wager-free offers to attract new players to their website. The great news is that any winnings made from the bonus offer or the free spins can be withdrawn right away, although many casinos do request that you deposit before making a withdrawal.
What does the future hold for wagering requirements?
Online casinos are always coming up with new and innovative ways to attract new players to their website. We are constantly seeing new trends and patterns in bonus offers to crop up every few months, so it will come as no surprise when eventually there will be some sort of shift when it comes to wagering requirements. With no deposit bonus being quite popular these days as well as wager-free bonus offers constantly popping up, you will be overwhelmed with choices. We hope you have got a very clear understanding of how the wagering requirements work and how you can use the casino bonus offer to your advantage. Happy gaming!