A wagering requirement is a term every online casino player has heard of. It’s also a very important term since it’s intrinsically related to virtually all bonuses offered by online gambling sites, especially when it comes to sign-up bonuses.
Although players regard them as an obstacle, wagering requirements are essential to casino operators. The truth is likely a combination of both. In this article, we’ll explain what casino wagering requirements are, how they function, and why online casinos have them in the first place.
What Exactly is a Wager?
By far, the most complicated aspect of the casino’s bonus terms and conditions page is the wagering requirement. Even experienced gamblers may find it difficult to fully comprehend its fundamental function, which is why we’ll start from the beginning.
A wager is a real money stake placed on any online casino game, from classic and progressive slots, to poker, table games, online bingo, and live casino games.
In some cases, this term is used to describe the amount of money that goes toward fulfilling wagering requirements.
Defining Wagering Requirements
A casino wagering requirement is a number that indicates the amount of money you have to wager before you can withdraw any wins associated with your offer. Depending on the bonus, it can range from 1x to 50x. It works relatively simply: the more significant the casino bonus is, the bigger the multiplier will be.
In certain cases, requirements only apply to the bonus money that has been awarded. In other circumstances, though, it refers to the total amount of money you deposited together with the bonus credits.
How Do They Work?
If you’re just making your first steps in the world of online gambling, many of the terms we mention here may sound unfamiliar to you. So, we will give you an example of a wagering requirement.
Let’s say an online casino has the following welcome bonus: a 100% match deposit bonus of up to $1,500. It comes with a 10x wagering requirement, meaning you have to spend ten times the entire amount you deposited plus the bonus money before being able to withdraw your funds.
It should be pointed out that the wagering requirement also includes the free spins offers. The multiplier applies to winnings from free spins as their monetary value is not fixed.
Calculating Wagering Requirements
The formula for determining the wagering requirement is simple: multiply the bonus (or bonus and your deposit, if included in the terms) by the required number.
Let’s return to our previous example. You’ve just made a $100 deposit, and since this is a 100% match deposit bonus, you’ll have a total of $200 to play with once your deposit is processed.
As the bonus comes with a 10x wagering requirement, you’d have to wager a total of $2,000. When it comes to free spins, you have to multiply any winnings made from them by the required number to calculate your playthrough.
Meeting Wagering Requirements
Completing your wagering requirements can sometimes be a difficult task, especially if terms and conditions are not in your favour. Some online casinos offer bonuses with absurdly high wagering requirements, making it almost impossible to take advantage of promotional offers.
In most cases, however, you’ll stand a good chance of meeting those requirements.
You’ll need a bit of luck, the right choice of games, and a thorough understanding of all the aspects involved in the process.
Things to Know About Terms and Conditions
Before claiming a bonus, it’s vital to carefully read its terms and conditions. That way, you can get critical information to help you complete wagering requirements in time and without unnecessary costs.
Some items are more important than others, so you may want to pay particular attention to these details before claiming a bonus:
- Minimum deposit – The amount of money you need to deposit in order to be eligible for the deal. It typically ranges from $10 to $20.
- Stake limit – Most bonuses come with a stake cap, which is the maximum amount of bonus money that can be wagered. If you go over this limit, the casino may take your bonus and any winning related to it.
- Time limit – Bear in mind that you won’t have unlimited time to use it up once a bonus is activated. You’ll generally have seven to fourteen days, but sometimes this limit can be even longer.
Choosing Your Online Casino
A massive welcome bonus may sound appealing, but that doesn’t mean the offer is worth your time and money. Don’t be focused on the size of the bonus you want to claim, and pay attention to the terms and conditions related to it. The requirement number can make all the difference.
Above all, be sure to choose a legitimate online casino where you can safely and securely enjoy your gaming. Only play on a gambling site that’s licensed in your state. Another important aspect is the diversity of the game library. With more content on offer, it will be easier for you to find a game that can help you meet wagering requirements in time.
Finding the Right Game
Not all games make an equal contribution to meeting wagering requirements. In most cases, online slots count as 100%, while table games and live dealer games have a much lower contribution, which at best goes up to 20%.
This makes slots an ideal choice. However, as you may be aware, not all slots provide the same odds of winning. That’s why you have to pay close attention to the game’s Return to Player (RTP), which refers to the amount of money a slot returns to players over time. The higher the payout percentage is, the more likely your chosen slot will help you meet wagering requirements.
Pick slots with an RTP value above 96% to play with your bonus money. These games provide the best odds of meeting wagering requirements in time.
Finally, it’s time to see what’s the purpose of wagering requirements.
Online casinos use wagering requirements to prevent money laundering. Criminals cannot utilize gambling sites for these illegal activities as they cannot deposit and withdraw money instantly.
Wagering requirements also stop bonus hunters from going from one online casino to another, abusing the bonuses, and playing without wagering a single cent.
We can regard wagering requirements as an agreement between an online casino and its players. Casinos give their customers bonuses and promotions, and in return, customers must stay for a while and spend their money on games.