Now and then, you’ll find something at an online casino that they didn’t tell you about until you are already invested in it. What are we talking about? Wagering Requirements on bonuses and promotions! We are going to give you the rundown on what this concept is exactly and how you should go about it while looking to take a bonus. This is a way for online casinos to protect themselves from significant losses and possible scams so just be prepared for them in the future.
Betivity will go over the definition, the reasons behind them and how to fulfil the wagering requirement.We’ll also look at an example of how this is put into action by the player and the casino. We hope you enjoy this read and learn along the way.
A wagering requirement is the amount of money you will need to bet before you can withdraw. Any winnings from your casino account will have to fulfill the requirements from the bonus received.
Online casinos apply wagering requirements to their bonuses in order to protect themselves from financial losses. If you offer bonuses without any wagering requirements, you would be basically offering free money. Players can abuse this by creating multiple accounts and take money without playing. Casinos would be losing a lot without these rules. So, you could say it’s a security measure placed upon the actual bonus you are receiving.
You can meet your wagering requirements by playing in the casino. Not all games count towards the fulfillment of the wagering requirements so you’ll always have to review which games you can play with your bonus. Some casinos restrict live games (like baccarat and blackjack) from participating in the calculation of wagering requirements. Others casino will allow live dealers games but with a limited percentage like 5-10%. Usually, slots and lottery games count 100% towards the wagering requirement amount. These rules vary and aren’t consistent at all in the industry, so always read the terms and conditions of any bonus before requesting it. Also, keep in mind that some bonuses may have a time limit to meet the wagering requirements (for example 30 days).
I would suggest if you ever receive a bonus, talk to their chat agents and ask about those details, they might make a difference.
Let’s say you have the chance to receive a Welcome Bonus of 50 euros at Royal Panda, no deposit required. The wagering requirement for that bonus is 10x. X represents the amount of bonus money credited. So in order to withdraw your winnings, you’ll have to bet 10 times the amount of the bonus received. The wagering requirement would be a total of 500 EUR.
Remember, it doesn’t matter if you make a 100 euro and win or lose, the 100 euros will still count towards the wagering requirement. So it’s not a question of the outcome of the bet, but the amount of the bet itself.
If this was not 100% clear, please contact us by email. We would be more than happy to explain further or look at your current scenario. If you would like more information regarding bonuses please check out our bonus category section.