What are Wagering Requirements?
So to start, it's important to know that wagering requirements are a reality at each casino that you play at when you accept a bonus. The terms associated with the wagering requirements can make a huge difference from anything to accepting a free chip to when you win the big jackpot and are ready to cashout. Therefore, the detailed facts of wagering requirements are most important at any online casino. Here, we'll teach you all you need to know!
What is “Wagering?”
Wagering is defined as simply placing a bet. That’s all. For example, each time that you play your favorite slots or table games in the casino, you continually bet - sometimes you're up and sometimes you're down. Every time that a bet is made, the online casino keeps track of how much you bet. It is important to know that wagering doesn't mean how much you may win or lose when playing, but rather it's simply a record of your betting activity.
What is a "Wagering Requirement"?
Wagering requirements are the monetary amount of that you must wager in order to cash out after receiving a bonus. We'll explain the process of how to calculate wagering requirements but as a quick introduction, the amount depends upon how much you are deposit and how much bonus money you receive.
Why Are Wagering Requirements Necessary?
The reason why there is a need for wagering requirements is for players who accept high bonuses and promotions from the casino. You can’t just make a deposit and get a super high bonus of free cash added to your account and then immediately cashout. You have to play with the free bonus money. Also, most casinos don't allow players to cash out the bonus money. This is called a "sticky" bonus. You can play with the bonus but if you have extra bonus money in your account, you'll lose it when you cash out. Most casinos have you play first with your deposit money and THEN with the bonus money. Every bonus offered to you has its own conditions. Some have fewer requirements attached to them and others are higher - it often depends on your status at the casino (veteran VIP players usually are able to receive bonuses with low or no wagering requirements, for example).
Process of Wagering Requirements
Understanding how wagering requirements actually work is rather simple. According to our research, many of the online casinos use a formula such as this to determine what the wagering requirement will be:
Bonus + Deposit x (A specific number) = Wagering Requirements
The exact number will typically be from between 15 through 35; depending on the online casino and the bonus (higher bonuses generally include a bigger wagering requirement).
If you were to make a deposit of $100 and take a 100% Match Bonus and there was a wagering requirement of 25 then the formula would be the following:
Wagering Requirement = $100 + $100 x $25 = 5000
So you would have to bet a value of $5000 before you would be able to cashout from the online casino.
We know that this may sound super high, but keep in mind that this adds up to all of your bets which go fast as you play your favorite casino games.
Games That Don't Count Towards Reaching Wagering Requirements
Consider that wagering requirements does not apply to all games that you play. In fact, many table games such as blackjack are considered restricted game and therefore bets that you wagers in blackjack don't count towards wagering requirements. Therefore, many blackjack players choose not to accept bonuses or they opt only for special blackjack bonuses. These bonuses are traditionally smaller but they don't have wagering requirements OR the wagering requirements can be met with blackjack play. Contact the online casino’s customer support and get full details on the wagering requirement and remove the bonus before you start to play if you don't want to have to worry about wagering requirements. Before you begin to play in the online casino make sure that you check the bonuses you have accepted because you will be obligated to the Terms & Conditions of each one (not all are the same)!
How to Benefit From Wagering Requirements
If you are a slots fan, then accepting bonuses and promotions with wagering requirements is really not a big deal. Think about it, you will be able to quickly get to the wagering required when you play slots. Slot games almost always count towards wagering requirements. You can meet your wagering requirements plus you can play to win the big jackpots! Definitely a great deal all around.