Have you ever encountered difficulties in withdrawing your winnings from a casino bonus due to wagering requirements? Perhaps you find the concept of wagering requirements confusing and struggle to calculate them accurately.
In this comprehensive guide, we will explore the topic of wagering requirements. Although it may not be feasible to overcome them entirely, we will provide you with valuable tips to navigate through them successfully. Keep reading to discover how to calculate wagering requirements and make informed choices when selecting offers. By following our advice, you can ensure that your winnings are always within reach!
What Are Wagering Requirements?
When you participate in online gambling, whether it’s playing slots, casino games, bingo, poker, or other games, each bet you place is known as a wager. Casinos often offer bonuses where you receive funds in the form of bonus money instead of actual cash. Similarly, if you receive free spins and win money from them, those winnings are also considered bonus money.
However, this bonus money is subject to wagering requirements, which means you cannot immediately withdraw it. Instead, you must meet certain conditions set by the casino before you can access your winnings. These conditions typically require you to wager the bonus money a certain number of times or meet specific playthrough criteria.
Why Do Wagering Requirements Exist?
While often despised by casino players, it is important to understand that wagering requirements are not a scheme by the casino to extract more money from the player. In reality, there is a valid reason behind their existence.
The truth is that wagering requirements are implemented to ensure that online casinos comply with anti-money laundering regulations. Without these requirements, criminals could easily exploit the system by depositing and withdrawing illegal funds without any restrictions.
Can You Avoid Wagering Requirements?
In the long run, no, wagering requirements cannot be completely avoided. While you have the option to forgo the bonus and bypass the associated hassle of wagering requirements, we don’t necessarily recommend it.
Despite the constraints imposed by wagering requirements, a casino bonus provides a significant boost to your bankroll, often doubling or even tripling your funds. This grants you more opportunities to win on your favorite jackpot slot game or try out the latest slot machine. Before you know it, you may find yourself fulfilling the wagering requirements and becoming eligible for a withdrawal. Alternatively, you can explore bonuses with lower wagering requirements, as they can be easier to fulfill while still offering worthwhile benefits.
How to Calculate the Wagering Requirement of a Bonus
While it may not be the most exciting part, comprehending the inner workings of wagering requirements and selecting the ideal casino bonus to suit your bankroll is crucial.
Imagine finding yourself captivated by a fresh online casino and proceed to register. In this scenario, several factors come into play when calculating the wagering requirements—essentially, the amount of gameplay required before you can make a withdrawal:
- The type of welcome bonus: The nature of the welcome bonus is important. Is it a free spins bonus or a deposit match offer?
- Inclusion/exclusion of the deposit amount: It is crucial to determine whether the wagering requirements encompass the deposit amount or exclude it from the calculation.
Calculating Wagering Requirements for Free Spins
When you claim free spins offer, the wagering requirements are typically based on the amount you win. Let’s say you’ve claimed 20 free spins with a 10x wagering requirement, and during the spins, you won £5:
Example: £5 (Free Spins Wins) x 10 (Wagering) = £50
In the given example, the £5 you won from the free spins carries a 10x wagering requirement. This implies that you will need to fulfill wagering requirements amounting to £50 before being able to withdraw your winnings.
Calculating Wagering Requirements for Deposit Bonuses
1. Excluding Deposit Amount
When the deposit amount is excluded from the wagering requirements, calculating the requirements becomes simpler. Let’s consider an example where you claim a 300% casino bonus. Suppose the bonus is £60, and you receive it by making a £20 deposit. The wagering requirement is 5x. Here’s how the calculation is done:
Example: £60 (Bonus) x 5 (Wagering) = £300
In this scenario, the £60 bonus money you received needs to be wagered 5 times, resulting in a total wagering requirement of £300.
2. Including Deposit Amount:
Now, suppose that the wagering requirements include both your deposit and the bonus amount. Building upon the previous example, the calculation would be as follows:
Example: (£20 Deposit) + (£60 Bonus) x 5 (Wagering) = £400
In this case, considering the £20 deposit and the £60 bonus, both amounts are subject to a 5x wagering requirement, resulting in a total wagering requirement of £400.
Tips to Overcome Online Casino Wagering Requirements
Having understood how to calculate wagering requirements for successful withdrawals, you can now implement the following guidance to maximize your online casino experience:
Conduct Thorough Research and Choose the Ideal Online Casino
If you’re here, you’re on the right track. However, before registering at an online casino, it’s crucial to ensure that it holds a valid license from a reputable gaming authority. A licensed casino operates in accordance with various laws and regulations, guaranteeing top-notch security and reliability.
Fortunately, we have taken care of all the research on your behalf. At Aboutslots.com, we exclusively endorse reputable online casinos that have successfully passed our rigorous evaluation process.
Pay Attention to the Terms and Conditions
Every reputable online casino is obliged to abide by rigid requirements set by the gaming authority. One of these requirements is a clear display of terms and conditions. Within these terms, you’ll find vital information attached to your bonus. Here are some key aspects to check:
- Minimum deposit amount.
- Wagering requirements of the offer.
- Maximum limit on winnings.
- The time limit for fulfilling requirements.
- Eligible games for wagering.
- Limit on bonus bets.
Register and Start Playing
If you are satisfied with what you have discovered, your next move is to create an account and initiate a deposit to claim your bonus.