You might have landed on this article for a multitude of reasons. Maybe you went to an online casino, claimed a bonus and couldn’t fathom why you couldn’t withdraw it or maybe, you have heard of wagering requirements and were confused by what they mean. Maybe, you have had enough of wondering what they actually mean, and want a clear and concise answer to what they entail. Today, we are going to answer this question for you. Read on to learn more.
What is a wagering requirement?
Before we dive into how to beat a wagering requirement, you need to understand its role when it comes to online gambling. A wager is a bet or money spent on a slot, casino, poker, or bingo game. When it comes to a bonus, a wagering requirement is a number of conditions that a player must adhere to before a cash withdrawal can be made. Some of these conditions include meeting a minimum withdrawal limit or most prominently, when terms and conditions state that a player needs to wager a bonus a number of times prior to a withdrawal. This is where most players scratch their head.
Whenever you sign up for casino bonus money, more often than not, you must fulfill the wagering requirements. You are required to play the bonus a specific number of times before it becomes eligible for you to make a withdrawal. It is also worth noting, that some casino games contribute to the wagering requirements less than others such as is the case with table games such as online blackjack and roulette.
How to calculate the wagering requirements of a bonus?
Let’s put it into perspective. Imagine a new online casino has popped up and you went ahead and signed up. Let’s now imagine that the casino is giving you a €50 casino bonus when you make a deposit of €10 with a 5x wagering requirement. This is how it works:
Example: €50 casino bonus x 5 wagering requirement = €250
To make a withdrawal with this particular casino bonus, you must wager a total of €250. Now let’s imagine, that the wagering requirements require that you bet your deposit as well. Using the aforementioned example, it would work as follows:
Example: €10 + €50 casino bonus x 5 wagering requirement = €300
How do I learn about my casino bonus’ wagering requirement?
Thanks to a number of regulations, bonus wagering is becoming more visible. By law, any casino operator offering either a casino bonus or free spins needs to display the terms and conditions next to the offer. There should also be a link with a full explanation of the terms and conditions either on the promotions page or in an email.
If you are unable to locate the precise set amount or else, the offer states that ‘wagering requirements apply’, head to the terms and conditions page. This is usually displayed in the footer.
Why do casinos have wagering requirements?
This is one of those common questions that puts online casinos in a bad light. Some players feel like it’s a trap. Truth be told, that one of the reasons that wagering requirements exist is due to the casinos’ need to comply with anti-money laundering regulations. If casinos don’t have wagering requirements, then it would be easy for criminals to clean their illegal funds by making a deposit and a withdrawal straightaway.
How to beat the wagering requirements
Pick the right casino
Besides security and trustworthiness, make sure it’s a casino that is licensed by a reputable gaming authority. Once you have identified a few casinos, go for a bonus that offers fair conditions including fair wagering requirements.
Read the casino bonus’ terms and conditions
As previously mentioned, any reputable casino must adhere to strict conditions so each offer should have the relevant terms and conditions listed. You should be able to find the wagering requirement here and any other essential information about the bonus. Don’t sign up just yet. Head to the promotions page and read the full Terms and Conditions prior to accepting a bonus.
You might also want to check if there is a cap on a number of winnings you receive or if you can forfeit a bonus to make a withdrawal. Check the casino’s withdrawal policy to determine how long it would take to actually receive the amount won.
Register and play
If you are content with the wagering requirements, then all you have to do is to play the bonus. If you’re up for signing up to a number of casinos, you can always go for ones with no deposit bonuses.
If you have succeeded in meeting the wagering requirements, then the next step is to withdraw the cash. The casino will ask for some form of identification. Make sure you have either a driving license or a passport available.
Can I avoid wagering requirements?
If you prefer to avoid wagering requirements altogether, you might want to ask yourself if it’s worth signing up for a bonus. There is always the option to play with just your own cash, making room to win real money straightaway.
The quickest way to avoid a bonus is to contact the Customer Support team and to request they remove the bonus from the deposit. Once this has been done, you have no wagering requirements to worry about.
The future of wagering requirements
With plenty of casinos coming up with tantalizing offers to lure players to their website, there is bound to be some sort of shift in the way the casino promotes its offers and promotions. In fact, many casinos offer free spins or free play, instead of a casino bonus. Others have abolished bonuses completely, instead focusing on how to improve what they are offering without the need of a bonus.
As it currently stands, many gamblers have to deal one way or another with a bonus. We hope this article has helped explain wagering requirements.