Understanding the Workings of Wagering Requirements: An Easy-to-Follow Guide
Online casinos offer juicy bonuses to boost their bankroll and win rewards. Recently, gambling authorities are tightening up the way casinos can advertise their bonuses and what types of terms it can offer players. This makes it harder for casinos to promote unattainable bonuses. Wagering requirements are a common and effective security net to prevent casinos from losing money.
Wagering requirements are conditions casinos attach to the bonuses that it offers. They are similar to ‘playthrough requirements’. The requirements ensure that you wager the bonus amount or the winnings you score with the Bonus a pre-specified number of times before you are able to withdraw them to your personal account.
Wagering requirements are an important component of the terms and conditions that govern the usage of bonuses that an online casino offers. They guarantee that the casino doesn't incur losses because of its bonuses and promotions. A player could use a bonus of 20 free spins and rack up wins totaling over $500.
Wagering requirements require you to deposit the bonus amount multiple times before you can withdraw your winnings and move it into your bank account.
To withdraw a deposit bonus you need to wager the bonus amount the given number of times. XYZ casino offers a welcome bonus of 100% up to $100. To withdraw the $125 you win you would need $4000. A reload bonus is 200% of the deposit and requires wagering requirement of 40x the amount. To withdrawal the money you won would probably need a total of $80,000.
A casino offers a bonus of 50 free spins on a minimum deposit of $20. To be able to withdraw the bonus, you need to wager 40 times the winnings you earn with it.
There are two types of wagering requirements. A third, sought-after type has appeared recently.
The standard wagering requirements for most deposit bonuses and free spins offers at online casinos are 30x to 40x the bonus amount/bonus + deposit amount.
Most deposit bonuses and free spins offers have modest or standard wagering requirements. No-deposit bonuses usually come with a high wagerering requirement. This bonus is usually anywhere from 50x to 99x the bonus/dep deposit + bonus-bonus winnings. Review portals and watchdog sites usually ask players to stay away from casinos that offer bonuses with high betting requirements, because it's not worth the hassle.
Low or zero wagering requirements are a new way to get a deposit bonus. Some casinos offer bonuses with low wagerering requirement of 3-20x the bonus amount. The casinos with less restrictive conditions come with their own restrictions.