Wagering requirements are crucial to playing at casinos online and indeed sometimes even offline. When it comes to playing online however, it is an often-overlooked topic, which ironically, actually affects playing online. This guide will help you understand what a wagering requirement is, what to look for in the terms and conditions so you fully understand the bonus offer, and tips on how to make the casino bonus work in your favour.
Ultimately, it is important that you have a firm grasp on wagering requirements and commitments before starting any game or placing any bets with any online casino provider or betting company. Understanding what they are and how they work though, can get you on track to playing efficiently, able to release your earnings accordingly and will also help you fully understand casino bonuses online and how they work.
What is a Wagering Requirement?
A wagering requirement is the amount of times you have to play a game with your bonus money before being allowing to withdraw your bonus. For example, many online casinos offer welcome bonuses or free spin bonuses as an introductory offer.
Almost all casino bonuses will have wagering requirements attached to the terms and conditions. However many players will only see the big flashing lights of the bonus amount and free spins bonus and think that if they win they can withdraw their money and happy days! Unfortunately, this is not the case and therefore, reading and understanding the terms and conditions and understanding the specific wagering requirements is really important.
The definition of a wagering requirement may still not make sense, so an example should help clear that up. Additionally, by doing proper research into each online casino you play with, you should get a better grasp of these requirements and their very concept.
If we look at a simple example, you sign up to Casimba and deposit £20 of your own money, Casimba will give you a further £40 bonus as they offer a 200% match bonus (so £20 + 200% bonus = £40).
Now you have a total of £60 to play with.], can you withdraw this and make the easiest £40 profit ever? No, unfortunately you can’t, but you probably assumed this anyway because it would have sounded too good to be true if you could have done in the first place when you signed up and started playing.
So, let’s look at a more reasonable example sticking with Casimba’s offer. If you played 1 hand of Blackjack and won £50, you now have a balance of £110. You may think that because you have now played you should be able to withdraw this money and spend it on a nice fancy dinner or other wonderful luxury. Unfortunately, you still cannot withdraw your balance of £110.
Using the above the example, we’ve explained so far that you cannot withdraw your winnings yet. This is now the part where we need to know Casimba’s specific wagering requirements to determine when you can actually withdraw your winnings.
At Monster Casino Bonus we have listed all the wagering requirements for each casino you can play with, so you don’t have to browse to each online casino to find out that information before playing; we’ve got it all for you. You can clearly see that Casimba’s wagering requirement is 35x, but what that does that actually mean?
A 35x wagering requirement means you have to ‘wager’ (another word for bet) 35 times the amount you received on the bonus. But the terms and conditions also state that you need to add your initial deposit to that amount.
So, the calculation becomes:
35 x (£40 bonus received + £20 deposited) = £2,100
This means you need to bet a total of £2,100 to be able to withdraw the £40 bonus you received. So far you have placed 1 bet of £50 on a Blackjack table, so you still need to bet £2,050 more to be able to withdraw that £40 free bonus you received.
However, let’s not get too hung up on whether betting a total of £2100 is worth it to get £40 free because now we can look at just forgetting all this and withdrawing your cash winning.
Let’s go back to when you played a hand of Blackjack and won £50, surely you can just withdraw that right? The good news is yes of course you can withdraw that. Let’s review the balance again:
If you decide to withdraw your winnings at this stage you would simply exclude the Casimba Bonus of £40, leaving you with £70 to withdraw. What this also does is it means you forfeit that £40 bonus so that goes back to Casimba.
Having established from our Casimba bonus offer example that you need to wager £2,100 before you can withdraw the £40 bonus, what game you play makes a big difference to getting to this total of £2,100.
Here’s the summary of the games and their typical wagering contributions.
|Scratch Cards & Kino||100%|
So, if you wagered £2,100 on slots, because it has requirements of 100% contributions, that means you will need to meet the wagering requirement to be able to withdraw the £40 bonus.
If you wagered £2,100 on Roulette (a table game), because it has 25% contribution requirements, that means that only £525 (25% of the £2,100) has gone towards your wagering requirements. You would actually have to wager £8,400 (25% of £8,400 = £2,100) on Roulette to meet the wagering requirements in order to be able to withdraw the £40 bonus.
Now can you see why understanding the wagering contribution requirements is so important. It doesn’t make a lot of sense to go after that £40 you’ve been given as a bonus if it means you have to bet a total of £8,400 on a table game like roulette, so in a case like that, you’re probably better off playing slots.
The reason why online casinos have a wagering requirement is to stop you running away with money they have given you. Also, many people playing online, utilising bonuses and free introductory offers, may no necessarily be inclined to play beyond these bonuses if they could just withdraw as and when they want immediately. Wagering requirements and contributions ensure things remain fair for both the player and the casino.
If we go back to our example where you won £50 at a single hand of Blackjack, Casimba would be out of pocket by £50 because you won which is perfectly acceptable. However, they are also out of pocket by a further £40 because of the bonus they gave you.
Unfortunately, online casinos cannot afford to operate and provide you with their services if they allowed the bonus to be withdrawn that easily for all players, no matter how much they deposit or wager. If you want that free bonus offer the online casino have generously given you, you have to play and earn it. Also, by playing more, although there is the chance you could lose your wager, you also stand the chance of winning huge jackpots.
Another reason for wagering requirements is to counter money laundering. Without any checks and balances, online casinos can offer a huge bonus, with designated players deliberately signing up and withdrawing the bonus money, thus creating a mechanism to move money from one pocket into another. This is why gambling commissions around the world want to ensure that wagering requirements exist.
The simple answer is no. Wagering requirements are designed to protect the casino from haemorrhaging money in bonus giveaways and also to make sure that all casino games played are as fair as possible.
The best way to utilise the casino bonus is to play slot-based games with 100% wagering contributions and keep your money in the casino account to build up your winnings over a longer period of time.
If you don’t need to withdraw the money, leave it in the account and you never know, 3 months or 6 months down the line you may find you’ve actually met the wagering requirements without even realising because you’ve been too busy having fun and winning! Then you can withdraw and cash out the bonus money too.