If you were searching online on how to beat the ever-elusive wagering requirements and landed up here, then you’re in safe hands. Maybe you claimed a casino bonus and couldn’t figure out on how to withdraw it, or maybe you never quite grasped the concept of wagering requirements.
Whatever it is, you can stop wondering right now as we are going to delve into the subject of wagering requirements and on how to mathematically beat them, so you can withdraw your winnings.
What are wagering requirements?
First things first. We must first explain the concept of a wagering requirement and its role in the world of online gambling.
A wager is essentially a bet or money that is spent on either an online slot, a casino game, bingo game, poker game or a table game. When it comes to an online casino bonus, it usually comes with a wagering requirement attached to it.
A wagering requirement is the number of times a player must play the bonus money before being allowed to make a cash withdrawal. A casino bonus often has a number of conditions that must be met by the player. These include a minimum withdrawal limit or a wagering requirement. Most newbies have trouble comprehending the latter part.
When you sign up to an online casino and receive bonus money when making a deposit, more often than not, you are asked to fulfil a wagering requirement before you are allowed to make a withdrawal. If you don’t meet these wagering requirements, your bonus money will never be converted into real money for withdrawal.
Additionally, some casino games contribute a smaller percentage towards the wagering requirements than others. Games such as online blackjack and roulette frequently contribute a lot less towards these requirements than slot games.
How to mathematically calculate the wagering requirement of a bonus?
This is the boring part, but it’s essential for you to understand how the world of wagering requirements works and on how to better pick a casino bonus that best fits your bankroll.
Imagine a new online casino has piqued your interest, and you proceed to sign up. Let’s also imagine that the casino is rewarding you with a €60 casino bonus when you make an online deposit of €20 with a wagering requirement of 5x. This is exactly how it works:
Example: €60 (casino bonus) x 5 (wagering requirement) = €300
To put it into perspective, in order for you to make a cash withdrawal, you must wager a total of €300. Let’s also imagine that for you to meet the wagering requirement, you must also include your deposit as well. Using the previous example, it would work like this:
Example: €20 (money deposited) + €60 (casino bonus) x 5 (wagering requirement) = €400
Where can I learn more about a casino bonus’ wagering requirement?
Thanks to a number of laws and regulations making the wagering requirements more visible, players have now access to all relevant information.
Even so, by law, every casino operator providing a cash bonus offer including free spins needs to display clearly in the terms and conditions, the wagering requirements and other information that could hinder the player from making a withdrawal freely.
Make sure to always read the fine print. Usually, these include a link in an e-mail or on the promotions page.
If, for some reason or another, you are unable to find the stipulated amount for the wagering requirement or else the offer states that ‘wagering requirements’ apply, go to the terms and conditions page or else speak to Customer Support, to make sure you know what you’re opting for, before parting from your money.
Why do wagering requirements exist?
Although the bane of many casino players’ existence, this is no play by the casino to get more money from the player. There is, in fact, a legitimate reason in place.
The truth of the matter is that wagering requirements are in place due to the casinos’ need to comply with anti-money laundering regulations.
If online casinos didn’t have any wagering requirements, it would be easy for criminals to clean their illegal funds by depositing and withdrawing straightaway.
What are wager-free casino bonus offers?
Wager-free is exactly what it says on the tin: A wager-free casino bonus offer is a bonus offer without any wagering requirements attached to it. The real beauty of these offers is the fact that they can be snatched up right away without any delays.
Although they might be on the smaller side, the big plus here is that you usually don’t need to make a deposit prior to taking advantage of them. They come in the shape of either a no deposit bonus offer or else as wager-free free spins.
The allure of these offers is well-known by the casino operators, so it’s no surprise that many casinos promote wager-free offers in a bid to lure new players to their website. The great news is that any winnings made from said bonus offers or free spins can be withdrawn right away, although many casinos do request that you make a deposit prior to a withdrawal.