Casino Wagering Requirements: A Quick Guide
What are the casino wagering requirements?
If you have been gambling online, you might have heard stuff like – ‘You cannot beat the wagering requirements’ or heard complaints like ‘wagering requirements are too high at that casino.’ So, it is obvious to wonder ‘what the heck is a wagering requirement?’
In a general sense, we all know what wagering requirements are. But this guide will delve deeper into the details of those betting requirements.
The next obvious question that will pop in your head is – can you beat the wagering requirements? Online casinos are quite generous while offering bonuses to their users. But they come with an obnoxious tag of wagering requirements.
Meanwhile, there are a few newbies who have not had their minds wrapped around the concept of wagering. In any case, we are about to satisfy all your queries regarding the requirements!
What are Casino Wagering Requirements?
Let us see what wagers are first. Wagers can be easily translated as ‘bets’ that you make. So, it is ultimately the money you spend on the casino games.
But when you claim an offer or bonus at online casinos, they are accompanied by wagering requirements. This is also called ‘play through’ which means it is the number of times you have to play to withdraw the winnings. Minimum withdrawal limits and some other conditions tag along with the playthrough.
Typically, you are gifted a sign-up bonus or bonus on deposits. But before you can claim your winnings through these bonuses, you have to fulfil the wagering requirements that come free with free bonuses.
Now it is obvious to wonder what would happen if you don’t meet the conditions? Your bonus winnings won’t get you any real money.
Note that wagering requirements are higher for some games like pokies. Whereas, games like roulette or blackjack have lower requirements.
How to Calculate the Wagering Requirements attached to a Bonus?
We all hate math and terms like ‘20x wagering requirement’ sound overwhelming. But a quick calculation can save your money and help you determine if the bonus is worth it or not.
And we will make then numbers less scary for you with an example. Let us assume that you decide to register on a casino. The casino offers you a $50 bonus when you deposit $10 and the wagering requirement is set at 2x.
So, this is how you can calculate (and mostly, you won’t need a calculator) –
$50 (the bonus) multiplied by 2x (wagering requirement) which equals $100. To make any withdrawals, you will have to bet $100.
Well, what about the $10 that you deposited? Of course, you will have to add that to the above equation. It will look something like this –
$10 (deposit) + $50 (bonus) multiplied by 2x = $120. Here, $120 is the casino wagering requirement attached to the bonus.
Why are wagering requirements applied to bonuses?
At first glance, many of us will assume that the casinos invent wagering requirements to burn a hole in gamblers’ pockets. But surprisingly, that is not the case.
The casino wagering requirements are a part of anti-money laundering laws. And the casinos have to abide by these to operate. Without these laws, it would be very easy for criminals to deposit money and carry out illicit transactions.
Where are these casino wagering requirements and terms stated?
The gambling laws make it mandatory for the casinos to state all the terms and conditions and wagering requirements clearly. The players have to be provided with all the relevant details.
As for you, you must read all the fine print given with the bonus no matter how lazy you are feeling. Reading that tiny jargon can save your bankroll, time, and avoid any disappointments.
What if you don’t see the terms and conditions? In that case, look for details on the promotions page of the casino or call the customer care. Know if the bonus is worth the effort or not before you make any wagers.
What are wager-free and no-deposit bonuses?
Are there any bonuses that don’t ask for wagers or deposits? Yes, numerous casinos offer bonuses that do not demand wagers or deposits. These offers can be claimed right away. The winnings are nothing to boast of but on the brighter side, you do not have to spend a dime to claim them.
Usually, you will find these bonuses as ‘no deposit bonus’ or free spins that need no deposits. Casinos know that such offers are attractive for the players and hence, they promote the wager-free offers heavily. The winnings that you earn from these bonuses can be withdrawn easily. Most of the time, the casinos need you to make a deposit before you can withdraw any winnings.
A few points to note before you go
- Make sure you are playing at a genuine casino that holds a valid license. Obviously, the licensed casinos comply with a lot of regulations and ensure fair play. Meanwhile, no matter how hard you try to beat the wagering requirements; you will always lose at the rigged casinos.
- Compare the wagering requirements against your bankroll or budget. This will help you determine if you should claim the bonus or not.
- Avoid the games that have really high (or ridiculous) wagering requirements. You will never be able to beat it. Notably, pokies have high wagering requirements.
- Go through the terms and conditions of the free spins thoroughly. Compare the free spins bonus with the days given to enjoy it.
After all is said and done, the casino wagering requirements and house edge cannot be beaten in the long run. We can increase our chances of winning with a little math and managing the bankroll smartly.
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