If you’ve ever signed up with an online casino, you probably received a welcome bonus. What you might not know is that these offers come with terms and conditions and almost always have a sentence or two dictating wagering requirements.
What are wagering requirements? It sounds simple enough, but it’s important to know what you’re getting into. While wagering requirements differ between online casinos, there are a few general guidelines you need to be aware of.
What Are Wagering Requirements?
Wagering requirements dictate the number of times you need to place wagers of a particular amount. Before you can make your first withdrawal, you need to meet this number within a given time frame. If you don’t meet the wagering requirement, the casino may void your bonus.
What Do Wagering Requirements Mean for Me?
It’s probably easier to explain wagering requirements with an example. Let’s say you sign up for an online casino and receive a welcome bonus matching your initial deposit, up to $200. So you make a $200 deposit and receive an additional $200, giving you $400 to play with.
To be clear, this is not the amount you need to win or lose, merely the total wagers you need to place before claiming your bonus. Every time you place a bet, that amount contributes to the completion of that requirement. So if you’re playing slots at $5 per spin, you’d have to spin 1,600 times (win or lose) to claim your bonus.
Some casinos will ask you to wager 40x the bonus amount and the deposit before paying out. Using our previous example, you’d have to wager $16,000 to claim your $200 bonus. Be smart! Always read the terms and conditions before you sign up.
How Do I Complete These Requirements?
Most casino games will contribute to your total wager requirement. It’s simply a matter of placing bets on the games and watching that the requirement number drop down to zero.However, some games do not contribute to your wagering requirement, and a few will only contribute a percentage of your bet. Generally, table games contribute less to the wagering requirement than slots. This makes slots a superior option for earning your bonus.
Keep in mind that many wagering requirements also have wagering limits. For example, a casino might set the limit at $5. If you bet over $5, that game does not contribute to your wagering requirement. Additionally, many casinos require you to earn the bonus within a specific time frame. If you can’t meet the wagering requirements, the bonus is void.
Wagering requirements are an integral part of welcome bonuses, whether that be free spins or another bonus reward. So long as you read the terms and conditions, you’ll have no problem reaching the requirements, or at least knowing where you stand.
It’s rare to find welcome offers without a wagering requirement, but now you know what to look for. Stay alert, and your next trip to the casino should go smoothly.