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Wagering requirements are special requirements set by online casinos for players using some of their bonuses.
The number of online casinos is growing rapidly in the last few years which make the competition fierce. That’s why almost every casino comes up with something unique in order to attract new players and keep their existing ones loyal. Of course, the different bonus offers are something that most people like about online casinos. There are different types of casino bonuses out there and each of them has terms and conditions for use and withdrawal. These rules are known as wagering requirements.
An Introduction To Wagering Requirements
Wagering requirements are described as a certain amount of money that must be placed in the form of a bet before players are able to withdraw the bonus money or the winnings they’ve made with the help of this bonus money. The main reason why online casinos have introduced these wagering requirements is to ensure that players are not taking advantage of their offers. In other words, if there are no wagering requirements, they can simply take the money and leave without playing.
The Mechanics Of Wagering Requirements
The wagering requirements are not too complex. The most important thing that you should know about them is the number of time that you will have to wager the free money before you can withdraw them (and the winnings you’ve made). The number depends on the casino and it usually goes between 10 and 30 times. If you are still not sure what these numbers mean, check this example. If you have received a $50 bonus and the wagering requirement is 10x the amount of this bonus, this means that you have to place bets worth $500 before you get the chance to withdraw the money. Of course, you don’t have to play with the entire sum at once.
In addition, you should know that there are bonuses like the Welcome Bonus that come with wagering requirements related to the bonus money and the amount of the deposit. For example, if you have obtained a 200% welcome bonus up to $200 with a wagering requirement of 20 times and you deposit $200, you’ll have to wager both the deposit and the bonus for 20 times.
The number of times you have to wager the bonus money is not the only thing that players should take into consideration when analyzing the wagering requirements. There are a few other factors that play an important role. For example, you should check the games that you can use and the games that are excluded from the offer. Namely, many online casinos have seemingly simple wagering requirements (a minimal number of turns), but they are offering just a few games where you can wager the bonus money. In addition, some casinos are providing reduced rates for wagering on specific games. In the end, you should also check the minimum and maximum wagering requirements. There are situations when casinos won’t cash out everything you’ve won with the bonus money.
No matter what kind of casino bonus you are planning on using, remember that you should analyze the wagering requirements thoroughly before you accept the bonus and take into consideration that some wagering requirements can be between 15x to 30x and even 50x in some cases.