Most online casinos and bingo sites offer one form of promotional offer or another to their players. Promotional offers provide a means for an online gambling platform to reward new or existing customers for their patronage.
Usually, there are some conditions attached to any promotional offer. For example, there is a minimum amount of money players must deposit to activate the offer. Similarly, there are wagering requirements attached to such special offers.
While some online gambling sites offer customers wager free promotional offers, most casinos attach a wagering requirement to their promotional offers. You may then ask what wagering requirements are?
Similarly, others have asked questions like Are wagering requirements necessary? How do I calculate the wagering requirement attached to my bonus money?
This article will answer these questions and many others. After reading this article, you will fully understand what wagering requirements are and how to calculate them.
To get a clearer picture of how online casino promotional offers and wagering requirements work, stay tuned as we break it down with examples.
What is a wagering requirement?
To understand what a wagering requirement means, we first need to understand what it means to wager. To wager, players must place a bet on any game in the game selection of any online casino or bingo site. Wagers can be placed
on casino games like video slots, bingo games, poker games, blackjack games, roulette games, and live dealer games.
A wagering requirement is the number of times a player is expected to bet the bonus money or free spins on gameplay before the player can claim any winnings from a promotional offer and request for withdrawals. Players who do not meet the wagering requirement attached to a promotional offer can not claim winnings or request withdrawals.
When attached to bingo games and sports betting bonuses wagering requirements are usually low. For example, most bingo sites have a 2x wagering requirement. Therefore, players must wager their bingo tickets twice before requesting payouts. Similarly, most sports betting sites have a low wagering requirement, while other sports bet sites offer free bets.
When applied to online slots or video slots, the wagering requirements are usually higher. The average wagering requirement for slot games is between 35x – 40x. However, some online gaming platforms impose a higher wagering requirement on their customers.
Are wagering requirements necessary?
Regulatory gaming authorities set and enforce laws that control the activities of most online casinos. An essential part of these laws is the anti-money laundering law.
Wagering requirements attached to promotional offers help online casinos and bingo sites to anti-money laundering laws. These laws help to prevent criminals from laundering money by making deposits and withdrawing immediately.
How do I calculate the wagering requirement attached to my bonus money?
Calculating the wagering requirement for any bonus offer is relatively easy. However, you must understand how to calculate the wagering requirement to select a good casino that offers a low and suitable wagering requirement.
Let us assume that you join a new casino that offers a £600 welcome bonus to new players as in the case of Dunder casino. To qualify for this welcome offer, new players must deposit a minimum of £20, and there is a 25x wagering requirement attached to the welcome bonus. How will you calculate the wagering requirement?
The terms and conditions of the casino determine how you will calculate the wagering requirement. For example, if the wagering requirement only applies to the welcome bonus, then you calculate the wagering requirement as:
- £600 (welcome bonus) x 25 (wagering requirement) = £15000.
Therefore, all new players on the site must wager a total of £15000 during gameplay before they can claim any winnings from the welcome bonus.
If the wagering requirement applies to the initial deposit and the welcome bonus, then you calculate the wagering requirement as:
- £20 (initial deposit) + £600 (welcome bonus) x 25 (wagering requirement) = £15,500.
In this instance, all new players on the site must wager a total of £15,500 during gameplay before they can claim any winnings from the welcome bonus and request payouts.
Do all games count towards fulfilling the wagering requirement?
Usually, most casinos will choose the games meant for a promotional offer. It is not uncommon for certain slot games to be selected for a specific promotional offer. In other cases, some casinos provide new players with a percentage rating on games and what percentage each game contributes to fulfilling the wagering requirement.
For most casinos, slot games contribute 100% to fulfilling wagering requirements. Similarly, table games or live dealer games contribute only 10% to fulfilling most sites’ wagering requirements. When selecting a new online gaming platform, please read the terms and conditions of any promotional offer you want to opt-in for. The terms and conditions will reveal all requirements attached to that promotional offer.
Can I avoid wagering requirements?
Yes, you can avoid wagering requirements. However, players who want to avoid wagering requirements will forfeit their welcome bonus. Similarly, if you want to avoid wagering requirements, you must not opt-in for any promotional offers the casino offers.
There are a lot of excellent casinos and bingo sites that offer promotional offers with low wagering requirements. Also, some sites offer promotional offers with no wagering requirement attached. If you join any of these sites, you won’t have any reason to avoid promotional offers because of high wagering requirements.
Conclusion
Wagering requirements are attached to promotional offers because of anti-money laundering laws provided by gambling regulatory authorities.
Players must meet up with a promotional offer’s wagering requirements before they can claim any winnings from such promotional offers. Players who do not meet these requirements will not be eligible to request payouts.
Due to the high wagering requirements of some online casino and bingo sites, most players have decided to opt-out of many promotional offers. However, many online gambling platforms offer low wagering requirements. Some even provide promotional offers with no wagering requirements. You can check out some of such online casinos and sports betting sites in this review.
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