Just the sight or sound of wagering requirements is enough to make any online casino enthusiast cringe. In fact, many players simply opt to forego a casino bonus altogether, just so that they don’t have to deal with these requirements.
This is precisely why we’ve decided to help players like you understand, learn how to calculate, and ultimately, beat wagering requirements. Armed with this information, you could potentially cash in lots more profits from your online casino bonuses.
What are Wagering Requirements?
The term wager is basically a synonym for “bet”. In other words, wagering requirements are essentially betting requirements. These are outlined at online casino websites on the ‘terms and conditions’ or the ‘bonus policy’ page. These rules effectively restrict when you can withdraw bonus funds that you’ve received. You’ll be told how much you need to wager or bet with your own money before you’re allowed to withdraw the bonus money.
In most cases, these requirements also stipulate a specific timeframe in which you’re expected to meet said wagering requirements. Failure to fulfill them within the allotted period will simply result in the forfeiture of the bonus funds.
Different casinos can have different wagering requirements and likewise, different bonuses offered by the same casino may also have varying terms. The higher the wagering requirements, the more you need to bet to withdraw the bonus funds and vice versa, the lower they are, the easier it is to complete and withdraw bonus winnings.
The reason online casinos impose wagering requirements is because it’s the best strategy for them to avoid bonus abuse. For instance, if a casino offered a bonus without these terms, players could simply sign up with the casino, claim the bonus, cash out the bonus funds and then proceed to do the same at the next online casino. Needless to say, this wouldn’t be a sustainable business model for any casino.
How to Calculate Wagering Requirements?
As previously mentioned, when wagering requirements are high, you need to wager or bet more to meet the requirements. So, how do you calculate exactly how much you need to bet in order to complete the wagering requirements?
The best way to comprehend this is by breaking down a couple of calculations. So, let’s consider two examples that outlay how to calculate wagering requirements.
Example 1: When wagering requirements is applied on the bonus funds only
Sign up with Casino A and receive a no deposit bonus of $10 and the wagering requirements are 35x.
In this case, the calculation is quite straightforward. In order to withdraw the $10 bonus funds you have received, you need to first wager 35 times the bonus amount. Which is – 35 x 10 = $350. As long as you wager $350 of your own money within the allowed timeframe, you may withdraw the $10 bonus funds.
Example 2: Get a 100% bonus up to $500 on your first deposit. The wagering requirements are 35x bonus + deposit amount. Wagering must be bet within 14 days of receiving bonus.
So, let’s consider you make a deposit of $100. You then receive a 100% bonus (i.e. $100). So, you have a total of $200 in your casino account, of which $100 is real balance and $100 is bonus balance (locked by wagering requirements). To withdraw the $100 bonus balance, you need to first meet the terms and conditions.
How much are the wagering requirements? Well, simply put, 35 times the sum of the bonus + deposit.
This is equal to 35 x ($100 + $100) = $7000. Therefore, you need to wager $7000 within 14 days if you want to withdraw the $100 bonus funds.
Look for Low or Zero Wagering Bonuses
We get it. You hate numbers (admittedly, so do we!) and didn’t expect to be dealing with them when playing at an online casino. But the good news is, they aren’t all that bad. On the contrary, some are considerably fair because they’re considered rather low.
What’s more, there are certain casinos offering games with zero wagering requirements. Whichever games you choose to play, however, it’s always advisable to read through these requirements outline, so you know what you’re getting yourself into beforehand.
How to Beat Wagering Requirements?
Zero wagering bonuses are few and far between. Even if you come across them, they’re often for very small sums of money. In most cases, you’ll have to deal with these terms if you wish to withdraw your bonus funds.
However, there is one important thing to keep in mind when in the process of completing wagering requirements that’ll ensure the process is sorted more easily and sooner. Wager on online slots. The fact is, not all wagers you make contribute 100% towards the fulfillment of wagering requirements. Wagers on games that have a low house edge will generally contribute a lower amount in bonus money.
So, if the game contribution of a Blackjack game is 50% and you wager $100 on this game, only $50 is counted towards wagering completion. Therefore, to finish wagering requirements quickly and effectively, you want to wager on games with a 100% game contribution rate, such as video slots.
So Is it Clearer Now?
Now that we have armed you with all the information you could need about how to use wagering requirements properly, you can head over to your favorite online casino and try them out for yourself. Good luck!