The wagering requirement is to casino bonuses what the Joker is to Batman… the villain of the piece. However, some wagering requirements are less villainous than others. And, the best way to defeat the villain is to understand what they are and how they work, so you can get one over on them. As such, we are going to look at exactly what they are and how they work – so you can have the last laugh. Once you have some degree of understanding into these troublesome terms, then you can begin your casino adventure.
What Are Wagering Requirements?
When you see a casino bonus, there will always be terms and conditions attached. The most important of those terms is the wagering requirement (unless, of course, it’s a no-wagering bonus where you get to keep what you win!). This is how much money you need to wager before you can withdraw the bonus and any winnings from the bonus.
So, an example of this might be a 100% bonus up to £200 offer with a 30-times wagering requirement.
You make a first deposit of £50 and claim a £50 bonus on top. Now, before you can withdraw that money and anything you win from it, you need to fulfil the 30x wagering requirement. In total, you will need to deposit and play £50 x 30 = £150 of your own real money. Until this has been done, your bonus money and wins will be kept in a separate bonus account that you cannot access.
Bonus + Deposit
There are occasions where the terms and conditions will say ‘30x wagering deposit and bonus’. You need to see whether this is the case because, in this instance, it will double the amount you have to play of your own money. In the above example, your wagering requirements will be (£50+£50) x 30 = £3,000. In an ideal world, you will avoid this if/ where possible.
Expiry Date
Although this is a separate ‘condition’ you need to know this because that is how long you have to complete your wagering requirements. The bonus may have an expiry date between 7 and 30 days after claiming the offer. This is how long you have to spend your bonus money AND complete the wagering. If you do not manage this, then you will lose your bonus and any winnings from the bonus… poof!! Gone!
How to Fulfil Your Wagering Requirements
No matter whether you win or lose, the money you spend will all count towards your wagering requirements. So, you might spend £100 on the casino and win back £98. This means that although you have actually only spent £2 really, the full £100 will count towards your wagering requirements. So, just because you have £1,500 wagering, it doesn’t necessarily mean you will be £1,500 out of pocket – you might even end up winning money.
Unfortunately, not every casino game counts towards your wagering requirement. So, you can’t just play blackjack with a basic strategy (with the lowest house edge) until the wagering is done. The terms will stipulate the game contributions. Most slots contribute 100% although table games and poker tend to contribute 10-20% and some games don’t contribute at all. So, make sure you check out the game contributions carefully before starting.
Why Are There Wagering Requirements?
Casinos aren’t non-profit organisations. They can’t give away money for free and wagering contributions are the way they can guarantee you won’t be able to win lots of money for nothing. However, wagering requirements should always be fair. Most sit around 30x to 40x. Anything lower is great, anything higher you should think twice about.
Ultimately, a casino bonus is only as good as its wagering requirements. There’s no point getting big bonuses if you can’t win anything because the wagering is too restrictive.
Conclusion: Always Read the Small Print
Knowing the wagering requirements and how they work is your best line of defence from a bad bonus. Never claim a bonus without knowing what the wagering requirement is, working out how much you have to wager and how long you have to do it. If you try withdrawing your bonus and wins before completing them, you forfeit the lot. Knowledge is power… and with great power comes great responsibility – so be responsible and read the terms first!
