Casino Bonus Wagering Requirements Explained
January 23, 2021
Millions of people are playing online casino games on a regular basis, wagering millions of dollars every day. With so much money in the game, it’s not surprising that there are so many of online casino websites looking to get their slice of the pie.
The problem is that the world of online gambling is a jungle where only the best casinos can survive and actually make profits. The key to achieving success in the online casino business is to bring as many players as possible to sign up. But, even that is not enough – casinos need to persuade them to keep coming back.
One of the proven methods that online casinos use to make themselves attractive to players is to offer them some lucrative bonuses. The rule of thumb is that the better the bonus, the more players are going to sign up. The trouble is that giving away bonuses means giving away free money, which can impact the casino’s profits.
To solve this problem, most online casinos decide to add a catch to their bonus deals. That catch comes in the form of wagering requirements.
What are Casino Bonus Wagering Requirements?
If you spot a casino bonus offer that looks good to be true, it’s because it probably isn’t. That bonus deal probably comes with a wagering requirement that is probably very difficult to fulfill. This is the way casinos are protecting themselves from hemorrhaging money.
Without adding wagering requirements to the equations, online casinos would be simply giving away their money. And that’s something professional gamblers would want to take advantage of. Instead of using the bonus to have fun playing casino games, they would simply withdraw the money.
However, when there are wagering requirements involved, players are required to actually play casino games. They are required to wager the bonus funds as many times as stipulated in the Terms and Conditions of the bonus deal.
Unfortunately for players, sometimes those wagering requirements are too difficult to clear. Sometimes, they are required to wager the bonus funds dozens of times in order to turn the bonus into withdrawable money.
How to Clear the Bonus Requirements?
In order to qualify for the bonus, you probably need to make a deposit. In fact, most bonus offers are focused on incentivizing players to fund their accounts. Whether it’s a sign-up bonus, a reload bonus or some other kind of promo, the chances are that you will have to upload some funds to your account in order to get the bonus.
For example, if the bonus in question is a 100% Match Deposit Bonus, you will receive the bonus that’s equal to the amount you’ve funded your casino account with. But, simply funding your account doesn’t mean it’s the end. You will have to fulfill the wagering requirements in order to turn the bonus into cash.
Let’s say the wagering requirement of your $50 bonus deal is set at 10x. What this means is that you will have to wager those $50 10 times on eligible casino games. Depending on the stake you choose, fulfilling the requirement can take a lot of time.
For example, if your stake is $1 per spin in a slot game, you will need to make 50 spins to wager the $50 bonus for the first time. And considering that the wagering requirement is 10x, it means that you will have to repeat the same process all over again nine more times.
Sure, you can increase the stake, but this would mean that your journey could come to an end sooner than expected. It would mean that you get only 10 spins for your bonus of $50.
Are There Any Bonuses With No Wagering Requirements?
Some casinos do offer bonus deals that come with zero wagering requirements attached. Unfortunately, those bonuses are usually not too lucrative. In fact, they’re often very tiny. If the bonus is coming in the form of funds, the amount is not going to be big enough that you could withdraw it straight away. In most cases, it’s lower than the minimum withdrawal. What this means is that in order to be able to cash-out the money, you need to wager the bonus.
Another type of bonus that comes without wagering requirements is the free spins bonus. This is the type of deal casinos offer in order to promote a certain game. For example, if there’s a new video slot included in the game library, the casino might decide to give the players some free spins in order to introduce them to the new game.