Wagering Requirements – What Does It Mean & How To Count It?
All set to hit the online slots and lure yourself with enticing bonuses? Most punters go through the term ‘Wagering Requirements’ before indulging in online casino sites. Do you know precisely what is wagering and how it is calculated?
The inability to analyze and evaluate the wagering requirements results in financial losses or a hampered casino gaming experience. A knack for wagering helps you seek the bonuses’ complete benefits.
We have traced down a comprehensive guide that discusses:
- What Does Wagering mean?
- How to calculate wagering requirements?
- Popular Types of Wagering Requirements to learn.
What is Wagering?
To grasp the wagering requirements in detail, it is crucial to learn what a wager actually means. Understanding the wager in the context of online casinos is quite essential.
Simply put, the term “wager” refers to a bet or the amount you stake at online casinos.
It is the amount you bet on every hand of cards, sports match, or slot spins within a specific period of time.
Now that you have a fair idea of what is wager, let’s move toward the wagering requirement.
What are Wagering Requirements?
Multiple casino bonus offers and promotions are listed online, and they all come with wagering requirements. Therefore, it is essential to learn about it to seek advantage of these promotions, be it welcome bonuses, free bets, or free spins.
The wagering requirement refers to the amount you need to wager before you can withdraw your bonus winnings and is expressed as a multiplier.
Firstly, the wagering requirements are subjective to all online casinos and differ as per the type of promotions or bonuses.
For instance, let’s assume you are taking a casino bonus with a wagering requirement of 30X. It indicates that players must stake thirty times the bonus amount before withdrawing and claiming winnings.
Players often have to meet the wager condition to get the free spins as well. As no real cash value is attached to the free spins, the multiplier is applicable only for the winnings from those free spins.
How to Calculate Online Casino Wagering Requirement?
There is a simple formula to calculate the exact amount of wagering requirements. It begins with adding the figures to the baseline math.
Bonus Amount X Wagering Requirement = Total Bet
Suppose you have deposited $50 and got a match-deposit bonus of $50 with a 30x wagering requirement.
Hence, the formula added to this will appear like this: $50 X 30 = $1,500
This means that you will have to place bets of a total value of at least $1,500 before you can withdraw any winnings.
If you deposit $50 with a 40x wagering requirement, you will need to bet a total of $2,000, etc.
Though the figures seem pretty high, they aren’t impossible to meet since players can optimize the winnings earned from the bonus money to make new wagers.
You can beat the requirements with a smart play, and there’s a small bid left towards the end.
Wagering Requirement – How to Meet and Beat it Right?
Now that you know what wagering is, it’s time to evaluate how’s it possible to meet the requirements and opt for a smart play.
Understand Terms and Conditions
Next time you scroll across an enticing welcome offer or bonuses and promotions, sneak in detail through its terms and conditions.
The complete details would give you a fair idea of important strings of conditions related to every bonus offer, along with its wagering requirement and what you must do to beat them.
Players can usually begin with a minimum deposit to claim their bonuses on online casinos. They can also opt for a specific deposit method to claim it and the time frame to utilize it. Remember that every online casino adheres to a distinct set of rules and regulations regarding the wagering requirements.
Picking the Casino
Some casinos hold the wagering requirement of 50X while others cut it down to 30X or below, so you will be more likely to clear lower requirements and should pick those.
Carefully evaluate various offers and shop for the best deal for you.
Always opt for online slots that have feasible bonus terms and a strong market reputation amongst competitors.
On top of that, always choose casinos that are completely licensed, regulated, and easy to use.
Selecting Slot Games
Distinct types of games hold different wagering percentages and requirements. Hence, gamblers need to sneak through the games that qualify.
In general, online casino slots contribute 100% of the stakes made to the requirements.
Online casino wagering for card games and table games contributes 50% or even less in some cases, so you will likely have a better chance of clearing those requirements with slot games.
On top of that, make sure to pick high RTP slots so that you would have more chances of success if you get lucky at the beginning.
Play It Right
Opting for lower volatility games is preferable since you have more chance of clearing your bonus if you hit something.
Gamblers getting familiar with wagering should begin with these types of games. It helps players in enhancing their bankrolls and secure themselves against potential losses in the future.
The next alternative is to search for online casinos with no wagering requirements. No-wager slots have recently been popular as their bonuses are bounded with fewer stipulations.
However, you should not expect big bonuses or crazy amounts of free cash.
That said, the small sum of bonus money or the wager-free spins might also turn out to be profitable.
Keep in mind that most of these bonuses ask for a deposit, but players do not have to wager their winnings a certain number of times before collecting them.
What Other Conditions Can Affect Wagering Requirement?
Apart from the amount of wagering requirement and the terms on which it applies, several other terms and conditions might impact the wagering of bonuses. Some examples of these rules are slated down below:
Deposited Cash or Bonus Cash?
Players can start real money gambling with deposited cash without a bonus and would not need to wager any amount before they can withdraw the winnings.
That said, if you opt to receive the bonus, you will have to meet certain wagering conditions before taking out the money, so you need to think about this in advance.
If you prefer to have some flexibility, you can opt to play without a bonus.
Max Bet on Wagering
Making big bets to eliminate the wagering requirement instantly is impossible at most casinos. Instead, you can place the maximum bets set by terms and conditions, which in most cases are not higher than $5.
All bonuses available at online slots come with a specific expiry date. Gamblers need to fulfill the wager requirements till that date to prevent losing the bonus amount. Usually, it is no more than 30-days, and sometimes you get just a day or two, so look into it before playing.
Game Weighting/ Exempt Slots
Some online slots won’t contribute much to wagering when compared to others. For instance, if any slot contributes 50% to wagers, the $1 bet placed on it is referred to as $0.50 to complete the wagering requirement.
Some slots can even be exempt from promotion and contribute 0% to it.
All online casinos have their dictionary of terms and conditions, and players must read through them carefully before making any deposit.
Of course, now that you know what wagering means and how it works, you will understand those conditions much better.
Different Types of Wagering Requirements Listed at Casinos
Time delve into the distinct types of bonuses that players can monetize, followed by relative wagering requirement.
A highly used promotional offer by many online casinos. That said, to cash out any winnings, you will need to wager it multiple times, depending on the terms and conditions of the casino you play at.
Suppose you win $50 and the subsequent wagering requirement is 20X, then you have to wager $50 X 20 times = $1,000. Awareness of this rule before staking real funds won’t make you feel disappointed in claiming the money you win through free spins.
The conditions related to wagering requirements for match bonuses work on lines similar to free spins. With a $50 deposit, the online casino matches the $50 amount as a part of the ‘Match Bonus.’ Here, if the wagering requirement is 20 times, players have to wager the matched deposit for 20X, thus making the wager amount $1,000.
No Deposit Bonus
This is another online casino promotion wherein the players are allowed the welcome bonus cash without making any deposits. It makes use of the multiplier system for calculating the amount you receive.
Let’s say you are getting a no-deposit bonus of $50 with the wager requirements of 40 times, meaning that players have to bet $2000 to meet the wagering requirement before accessing the winnings.
Always consider wagering multipliers, game restrictions, and contribution percent before starting to play.
Now when you have a good understanding of what wagering is, how to calculate it, and other considerations, you should be able to make better decisions when picking casinos and bonuses.
Alternatively, you can hit free slot games and do not worry about any of this!