Many online casino sites offer welcome bonuses as an incentive to new players who sign up. However, online casino sites are not in the habit of giving money away for free. By accepting a welcome bonus, offer, or promotion, you will also be agreeing to the wagering requirements attached.
There are many different types of bonuses at online casino sites, including deposit match bonuses, free spins, and no-deposit offers. However, most have wagering requirements attached, which can significantly impact the value of the bonus. Although trawling through a load of terms and conditions may sound tedious, it is essential to fully understand wagering requirements before accepting a bonus.
What Are Wagering Requirements?
Wagering requirements (also known as playthrough requirements) are conditions attached to bonus funds. They specify how often a player must wager the bonus (or bonus plus deposit) before withdrawing any winnings.
For instance, if a casino offers a £100 bonus with a 30x wagering requirement, you must bet a total of £3,000 (£100 x 30) before withdrawing any winnings from the bonus. Wagering requirements ensure players don’t simply claim a bonus, cash out, move on to the next casino, and do the same.
Wagering requirements are applied to different types of bonuses, including:
*Welcome bonuses
*No-deposit bonuses
*Free spins
*Reload bonuses
*Cashback offers
Types of Wagering Requirements
Not all wagering requirements are equal. Bonuses are multi-faceted and come with conditions that must be considered before accepting. There are several types of wagering requirements that can affect a bonus, and each comes with its own set of rules and implications. Here are the most common:
1. Bonus-Only Wagering Requirement
In this model, the wagering requirement applies only to the bonus. For example, if you receive a £100 bonus with a 20x wagering requirement, you’ll need to wager £2,000 (£100 x 20) before you can cash out.
Example:
- Deposit: £100
- Bonus: £100
- Wagering Requirement: 20x bonus
- Amount to Wager: £2,000
Bonus-only wagering is more player-friendly than other methods because you’re only required to wager the bonus funds, not the deposit.
2. Bonus + Deposit Wagering Requirement
Some casinos calculate the wagering requirement based on the combined value of the deposit and the bonus. This makes the requirements substantially harder to meet, as the total sum to wager is more significant.
Example:
- Deposit: £100
- Bonus: £100
- Wagering Requirement: 20x (bonus + deposit)
- Amount to Wager: £4,000
In this case, you would need to wager a total of £4,000 (£100 + £100 = £200, multiplied by 20) before cashing out any bonus winnings.
3. No-Deposit Bonus Wagering Requirement
With a no-deposit bonus (although rare), players receive free money or free spins without making a deposit. However, no-deposit bonuses tend to have higher wagering requirements and often include a maximum withdrawal cap.
Example:
- Bonus: £10 (no deposit)
- Wagering Requirement: 40x
- Amount to Wager: £400
Here, you must wager £400 before any winnings can be withdrawn.
4. Free Spins Wagering Requirements
Free spins may seem attractive, but any winnings are subjected to wagering requirements. The requirement generally applies to the amount won from playing the free spins rather than the spins themselves.
Example:
- Winnings from Free Spins: £50
- Wagering Requirement: 30x
- Amount to Wager: £1,500
That means a player must wager £1,500 before withdrawing the £50 from the free spins.
5. Game-Specific Wagering Requirements
Certain games contribute differently to meeting wagering requirements. For example, slots generally contribute 100% of every wager toward the requirement, while blackjack or roulette, for example, only contribute around 10% or could be excluded entirely. Playing the wrong type of games can make meeting the requirements much harder.
Example:
- Slots: 100% contribution
- Blackjack: 10% contribution
- Roulette: 0% contribution
So, betting £100 on slots would count fully toward the wagering requirement. However, the same bet on blackjack would only count for £10, and roulette wouldn’t count at all.
Why It’s Important to Fully Understand Wagering Requirements
Understanding the terms is essential for several reasons:
1. Maximising the Bonus Value
A generous bonus may lose appeal if the wagering requirements are too high. You need to evaluate whether the bonus is worth your time and effort. Choosing a bonus with a lower wagering requirement or a bonus-only requirement would be more favourable than a bonus-plus-deposit requirement.
2. Avoiding Unexpected Losses
If you don’t read the bonus terms, it can be difficult to withdraw your winnings. Understanding the exact terms helps avoid not meeting the requirements.
3. Capped Winnings
Some casinos include limits on the amount you can withdraw from a bonus. For example, a no-deposit bonus may have a max win of £100 regardless of how much you’ve won after meeting the requirements.
4. Time Limits
Often, wagering requirements have time limits. The bonus and any winnings will be lost if the requirements are not met within a specific timeframe (for example, 7, 14, or 30 days).
5. Game Restrictions
Certain bonuses can only be used on specific games or game types. For example, free spins can only be used on a specific slot game. Failing to understand these restrictions can result in the bonus being invalidated.
Tips for Meeting Wagering Requirements
Choose Bonuses with Low Wagering Requirements: Look for casinos that offer reasonable playthrough requirements (20x or lower is generally considered favourable).
Check Contribution Rates: Focus on games that contribute 100% to the wagering requirements, such as slots. If you prefer table games, check the contribution percentage.
Track Your Progress: Many casinos provide trackers showing how much of the requirement you have met.
Avoid High-Volatility Games: High-volatility games can lead to losses, making it harder to meet the wagering requirements. With lower-volatility types, the gameplay is often extended with smaller wins, which gradually help meet the requirements.
Pay Attention to Time Limits: Be aware of any time restrictions on fulfilling wagering requirements. Always plan your play to meet these deadlines.
Bonuses are a fundamental aspect of online casinos as a way of attracting new players. However, nothing is ‘free’; there’s often a catch, and the same applies to casino bonuses. If the terms attached to a bonus didn’t exist, casinos would go out of business as players would take advantage of a bonus, cash out and move on to the next. They are a type of insurance policy for the casino. But, some wagering requirements are not favourable and come with unrealistic conditions that are often near on impossible to meet.
Understanding the conditions of bonus requirements is key to getting the most out of a bonus without spending copious amounts of cash for a small return.
So, before you dive into any online casino bonus, take the time to read the fine print and weigh the potential risks against the rewards.