You sign up at a brand-new casino or decide to take part in a cool new promotion from one of your favourite casinos. You deposit some cash, redeem your bonus, and start playing. After a few rounds you’ve managed to win what you think is real cash, but is actually bonus money that you cannot withdraw because – lo and behold – the terms and conditions! We all know the story, everyone’s pretty used to it by now.
Parked firmly in most casino t&c’s are wagering requirements. You’re not exactly sure what they are, what they mean, and what they even ‘require’. In the worst cases, you mistake the bonus money for real cash, request a withdrawal and all these winnings disappear.
To avoid situations like this, we can take a moment to stop and learn what wagering requirements actually are. Okay, this may sound at little off-putting at first, but it will be to your benefit in the long run. After all, you need to know the rules of the online gambling game if you want to win anything from your bonuses!
But to make it easier on the eye and for concentration, let Unigamesity break down the wagering requirements brick by brick with help from Casino Professor’s video.
Wagering Requirements: What Does Wager Mean?
So, wagering requirements are conditions placed upon a given casino bonus. Rather than winning money from your bonus and being able to withdraw it straight away, you instead need to use these winnings to place more bets a certain number of times.
It’s best described in an example:
1. You grab a welcome bonus of 100% up to $50 with wagering requirements of x20 on the bonus
2. If you deposit $50, the casino will give you 100% on top – so $50 your own money + $50 casino bonus money = $100 overall
3. However, the $50 casino bonus money has a wagering requirement of x20. This is $50 x 20 = $1,000
4. So, before you can make a withdrawal, you must use this $50 to make a series of bets which total up to $1,000 overall.
Why Do Casinos Implement Wagering Requirements?
Well, if they just gave out real money to play with then there’s a very high chance of bankruptcy – meaning few sites would exist!
However, they still give you an outside chance of winning something, as if it was impossible then there would no point in actually taking up any offer.
Playing the Wagering Game
There’s no quick solution to beating wagering requirements, as they’re woven into the terms and conditions. However, you can play the wagering game wisely by making the most of the resources available to you. Here’s a few pieces of advice:
Firstly, the pot of money that has wagering requirements is not yours. Consider it the casino’s money until the requirements are met. Do not become attached to it.
Secondly, don’t just start wagering your money on anything whatsoever, as not all online games qualify (Bloodsuckers by NetEnt is a famous example of a slot that’s exempt).
Moreover, not all games have the same weighting when it comes to wagering requirements. For example, most slots count as 100% (so if you wager $1 then it’d be considered the full amount. However, others, such as video poker, can count for less (so a game weighted at 50% would consider a $1 bet to have contributed 50 cents.
Thirdly, have a look at the wagering requirements before you take part in the promotion, and don’t be afraid to shop around. Different casinos will offer different requirements and bonuses, so make sure to take a moment and figure out how much you’re going to have to wager in order to find the best deal. There are even online casinos without wagering requirements – if you can believe it!
Finally, take some time to do a little research and you’ll soon be the wagering requirements whizz. A good source to begin with? You can read more about wagering requirements at casinoprofessor.com. This iGaming master goes into intricate detail about everything you need to know on the subject, including a few no wagering requirement UK casinos.
Now are you ready to try and beat wagering requirements?