Online Casino Wagering
Wagering requirement is a casino term meaning the sum of money that needs to be wagered before the given bonus will be turned into real money that you will be able to withdraw.
Wagering requirements may be met upon receiving most of the bonuses. In this article, we will tell you the ways it is calculated, wagered, and withdrawn. Furthermore, you will find here some points, which, if not followed, may lead to bonus cancellation or even a closure of the account.
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Bear in mind that the winnings received using the bonus money turn into real money after the wagering requirement is met. This money does not have any use restriction.
What is wagering in a casino?
- On January 22, Michigan announced it would be going live with online sports betting and casino gaming. After months of anticipation, gamers in the Great Lake State were finally able to bet online. With Covid-19 temporarily shutting down casinos and sportsbooks for a second time, online gaming will help the state bring in revenue.
- Most reputable online casinos impose wagering requirements on bonus offers, which require that you gamble a minimum amount before you can withdraw your bonus money.
Wagering requirement in a casino is a bonus that needs to be turned over a specific amount of times. This helps new players to adapt quicker.
This is usual point in terms and conditions of most casinos. This is a mandatory part of any loyalty program, rewarding players for their choice of casinos. Moreover, this is one of the methods of keeping the players from taking free money and leaving the website not using any of the services.
Wagering requirement has emerged at the start of online casino development. It became the cornerstone method of fighting against cheaters and players that are in a casino only for money and not entertainment. To secure themselves, online casinos started to write special terms and conditions to let players enjoy the experience and stay a profitable business.
From that time, there is a standard formula for calculating the wagering requirement of the bonus.
Wagering Requirement = Bonus Sum * wagering coefficient
Usually, the wagering coefficient is written in the following format: x40, x50, and so on. x40 coefficient is the most popular. The latter means that the given sum needs to be wagered a specified amount of times. For instance, if you received €100 bonus, you need to make bets worth €4,000 (€100×40=€4,000).
Other wagering requirements
There are some other wagering requirements in addition to the coefficient because of the sly bonus hunters that are trying to make fools out of casinos.
The most common requirements are:
- Wagering time. The bonus must be wagered in a specific amount of time, 12 hours, a day, a week. Otherwise, it will be canceled.
- Maximum bet restriction. This is done in order for the player to not spend their bankroll to quickly.
- Game restrictions. The limitations may be in a form of complete restriction or a maximum cap for bonus sum wagered. For example, most of the casinos do not let to play videopoker with bonus money, roulette, and progressive jackpot games, or they set a low bonus contribution for those games (10-15%).
Online Casino Wagering Requirements
Casinos always check the ways the bonus money was wagered. In case the rules of the promo were violated, all the winnings will be canceled. You will have to keep track of the T&Cs by yourself. The excluded games in the promo will not be blocked from playing, be careful!
Attention! Some casinos may have wagering requirements that apply not only to the bonus amount but to the deposit as well. This means that you will have to wager a much larger sum. In order not to make a fool of yourself, read the terms and conditions very carefully. If they are not clear enough, do clarify them asking the support team.
How to wager the money?
So, wagering the bonus money should be done following casino’s rules. It is important to choose the right games for doing it, having excluded the ones that are restricted to play. Furthermore, exclude the games that have a low bonus contribution percentage.
The optimal games to wager you bonus money are classic slot with the RTP higher than 97%. Why? Because after a set period, you will still have 97% of the bonus money.
In order to reach this number of RTP, the payers has to make hundreds of smaller bets. Only in this case will you be able to reach the RTP set by the developer. Trying to quickly wager your money, there is a chance of falling on the losing streak and flushing all of the bankroll.
What about not wagering the bonus?
If receiving an extra amount of money is not your priority, do not pay attention to the wagering requirements. In this case, the bonus money will be canceled after the wagering time has passed.
As a matter of fact, you may not withdraw the bonus money that is partly or not wagered at all. If the bonus wagering requirements are not met in full the bonus will be forfeited. The money will be available to withdraw only when the requirements were all done right.
What about a smaller wagering requirement?
Good news, you may find one! Some online casinos offer smaller wagering requirements, especially for high rollers. If you are interested in the gameplay and having a good tie in a casino, the management may offer you a lower wagering coefficient than usual.
Although, usually, these conditions are tailored personally. The designated casino manager may offer a lower wagering coefficient with a higher maximum bet amount.
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