September 29, 2019

Understanding Wagering Requirements

Understanding Wagering Requirements

The online gambling market is growing worldwide, that is why it’s no surprise that gambling sites use clever marketing ploys to attract new players. Casino Bonuses will have wagering requirements that must be cleared to withdraw winnings that have been made when using the bonus money. The players need to know how these work.

What exactly is the wagering requirements?

The Wagering requirement also called the Playthrough requirement is a multiplier that represents the number of times you have to play into a bonus before you can withdraw any winnings.

One of the tactics is they give new players free bets or cash bonuses for creating an account with them. These can take the form of matching your first deposit with free cash, free bets when you stake X amount. That sounds great, right? However, the only negative is the wagering requirements.

How Do They Work?

So let’s say I am given a $20 casino bonus with a 10x wagering requirement. This means I need to spend $200 on eligible games before I can withdraw any related winnings. To withdraw your bonus if you deposited $50 these are the requirements you will need to meet:

  • You are given a $50 bonus
  • A condition of 3x deposit + bonus amount wagering requirement is in the Terms and Conditions, so do take time to read it
  • You will need to wager a total of $300 to release your bonus cash.
  • Any winnings, as well as your bonus, will be transferred to your account balance, you can withdraw or continue betting.

It’s not surprising that some people get a little irritated with bonuses as they are not simple. Are they a scam? No, however, you do need to do your research.

Some online casino offers tiered wagering requirements, which is a staggering collection of payments. An example might be:

Time Limit                  Requirements                 Bonus
7 Day $20 $20
30 Days $250 $30
60 Days $500 $50

The advantage of tiered wagering is that it allows you to play in installments making it more affordable. At the end of the day, the financials are still the same.

Wagering-Free Bonuses

A wagering-free casino bonus has no wagering requirement. Usually, you won’t be allowed to withdraw the bonus funds. However, winnings from bonus money are a credit to your real cash balance.

Where To Learn About Bonus Wagering Requirement

Online casinos are required to display the wagering requirement alongside the bonus offers. They must also provide a link to the full terms and conditions of the offer on the promotion page. The wagering requirements are clearly stated there and ultimately it is your responsibility to understand the implications of accepting sign-up bonuses and offers.

Hopefully, this has given you insight into the misty world of wagering requirements. Do take time to read the Terms and Conditions of your provider.

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