Wagering Requirements For Online Casinos
Introduction: Online Casino Wagering Requirements
Unfortunately, if there’s one thing all gamblers hate, it’s the dreaded wagering requirements. No matter where you gamble, online or off, it’s one of those things that you can’t escape. Let’s have a deeper look at exactly what wagering requirements are and what they mean to you as a gambler. Though you can’t beat wagering requirements, there are some factors that can help mitigate their effects.
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What is Wagering? What Does Wager Mean?
For an online gambler just beginning their gambling journey, this is probably the most asked question. Many online casinos have different terms for wagering requirements. Some may refer to them as “play-through requirements” and others may call them “rollover requirements”, but they are all essentially the same thing. So don’t let these different terms confuse you into thinking that they’re something else. As you probably already know, a “wager” is just another term for “bet”. When you make a bet, you’re making a wager. In simple terms, whenever you make a bet at an online casino, whether on poker or blackjack, you’re making a wager.
For the sake of simplicity, you can interchange the verbs. So every time you hit spin on the jackpot slots machine you’re actually making a bet. So now we know the meaning of wagering, then let’s have a look at wagering requirements.
What Are Wagering Requirements?
On the whole, these will be more often than not, associated with online casinos and the online casino bonus system each casino has in place. Normally, when you sign up to a casino for the first time, they’ll offer you an incentive. This often comes in the form of a bonus, and it’ll come with various rules. These are the requirements for the bonus. In other words, both your deposit and your bonus will be subject to the rules and conditions laid down by the casino itself. And, more to the point, you’ll be unable to withdraw any funds unless you’ve fulfilled these wagering requirements.
Minimum Withdrawal
OK…you’ll need to pay special attention to this bit. First off, wagering requirements are represented by a number. This number denotes the number of times you have to wager your bonus. But the casino might also set a minimum withdrawal limit. Now, the number of times it’s necessary to wager your bonus will differ hugely from casino to casino. There are some casinos that will offer you a very low wagering requirement. It goes without saying, that the lower the wagering requirements, then the better things will be for you as a gambler.
What are Rollover and Play-through Requirements?
These are just different terms for the same thing; namely wagering requirements. Essentially, you’re “playing through” your bonus. This is exactly the same as if a casino used the term “wagering your bonus”. Different casinos use different languages for the same thing. So, “wagering requirements” are represented by a number which is the number of times you have to wager your bonus”, is exactly the same as, “the number of times you roll over your bonus and play through your bonus”. The meaning is the same.
What Does No Wagering Mean? What Are Wager-free Casino Bonuses?
So now we know that most bonuses came with a number of strings attached to them. These are the wagering requirements. But it’s not the same story across all casinos. You’ll see that some casinos advertise offering “No Wagering” and “Wager-free bonuses”. Sounds too good to be true. And in a way it is! Now, these types of wager are normally associated with casino spins. Essentially, you make a deposit but don’t have to use your own money to place bets, up to a certain limit. Any winnings go straight into your deposit account, at zero costs to yourself. You can withdraw the monies straight away. The rub is that it’s nigh-on impossible to find a cash bonus without strings attached. We suggest you do your own searching. We are sure that there are some casinos offering this out there.
Wagering Requirements Calculator and Common Wagering Requirement
When you’re faced with multiple wagering options and requirements, from many different casinos, it can be difficult to sort the wheat from the chaff. That’s why we need to take a dive into the mechanics of wagering requirements, and that’ll involve some mathematics. Just a warning!
A good place to start is by being realistic in your approach. An online casino, that’s giving you a bonus for joining, is essentially giving you free money to bet with. So don’t be surprised that they want to have absolute control over what you can and can’t do with it. That’s where the wagering requirements come into play. They will regulate your options in regard to the bonuses. As they say, there’s no such thing as a free lunch!
Matching Bonuses With Deposits
A common wagering requirement is 35 x. But for the sake of this example and for the sake of simplicity we’re going to lower that to 30 x. So, you’ve just signed up at a new casino and loo and behold, you receive a welcome bonus which is 30 x. So here’s how that’ll work out for you; Suppose you deposit $20. The bonus amount is matched, meaning the casino will give you a $20 bonus. The wagering requirements are 30 x. So what does it all mean? Well, all you have to do is to multiply your bonus by the wagering requirement. So, $20 x 30 = $600. This means that to be able to get paid out using any winnings from your bonus, you’d first need to wager $600 with the casino.
So in this case, if you were placing $1 bets, then it’s going to take you 600 bets to make the wagering requirement. Of course, you could get there faster with much larger bets. But this strategy goes against good betting practices. What’s the point of betting outside your comfort zone to chase a possible bonus payout? As you know by now, we don’t recommend betting with high stakes. It’ll deplete your bankroll faster. And the fun isn’t necessarily winning, but the taking part.
What Are Low Wagering Requirements and What are High Wagering Requirements?
Many of the best online casinos with jackpots will attach wagering requirements to both the deposit you made and the free to play bonus you received as a welcome gift. This can mean that you’re expected to wager twice the amount. For example, the deposit amount $20. The welcome bonus $20. wagering requirements are 30 x. So, to calculate you’d need to add the total deposit and bonus together and then multiply by 30 x. So in this case the wagering requirements would mean that you’d need to spend a minimum of $1,200 at the casino.
Wow! These wagering requirements seem impossibly high. How on earth are you ever going to reach them? Well, it’s simpler than you think, especially playing jackpot games. But keep in mind that you should be wary of combined deposit and bonus wagering requirements. In fact, as we previously mentioned, go for the lowest requirements possible requirement. So a single bonus requirement that’s just on your deposit can work well for you.
Why Do Wagering Requirements Exist?
Well, to be clear, they’re not there to help you. Only the casino benefits. Casinos will claim that this is in place to prevent money laundering. But the reality is that casinos need to be constantly attracting new customers. They will offer any wild bonus if it’ll bring in the punters. But of course, at the end of the day, they’re reluctant to payout. So, they introduced wagering requirements to ensure that you have to bet all the deposit until it’s all been returned back to the casino.
Are Bonus Wagering Requirements Avoidable?
There are casinos that allow you to make a straight deposit and have no offers of extra bonuses. With these there’s no wagering requirement, as technically, you’re just betting with your own monies. But if you want to accept the offered bonus, then be prepared to jump through any number of hoops in order to use it. Casinos are not well known for being selflessly generous institutions!
Where to Find Wagering Requirements? Check Terms and Conditions
Before accepting any free bonuses, please take the time to read through the casino’s terms and conditions. This will show you the best casino site to play. By law, these have to be prominently displayed on the web site. If you can’t find them, then don’t hesitate to contact customer support.
Conclusion: Online Casino Wagering Requirements
If you see a casino offering a bonus for joining, then you can be sure that they’ll want to maintain control as to how you spend it. Though technically, it’s not real money until you cash it out, the casino will be determined to keep the bonus virtual. To help them in their quest of making sure you can never cash out the bonus, they make you keep playing until it’s all gone, along with your bankroll.
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