As online casinos become increasingly popular with players across the World, each casino looks to attract the most amount of players. We are sure that you may have seen some of the offers that casinos create to get new players to join in the fun. From free spins bonuses to welcome bonuses, each casino will offer new ways and incentives to get you to sign up. Whilst signing up for and playing at a casino it is easy to overlook the terms and conditions that are associated with these bonuses. In essence, the terms and conditions are known, within the industry, as wagering requirements.
At Handpicked Casinos, we believe that each player, both new and old, should have access to all of the information associated with any of the top casinos that we offer. That is why we have put together an ‘All you need to know’ guide to wagering requirements that will help you to navigate through the world of online casinos and find one that is tailored to your favourite games, play style and the bonuses you want to get.
What are wagering requirements?
Wagering requirements are conditions that are attached to the use of the exciting bonuses and free spins that you are given by a casino usually when you sign up for the first time to play there. Wagering requirements may also be linked to other areas of a game but are usually associated with using bonuses and free spins and how you can access the bonuses. Generally speaking, wagering requirements are based on a certain number of times, or amounts, that need to be wagered (played) before a player is able to cash in on the winnings made from using the bonuses or free spins
On most online casinos, wagering requirements are shown as a number. Often the number will between 20 and 40, however, the number shown can also be lower or higher. The number, in essence, represents the number of times the bonus needs to be played, a required amount, before the player is able to withdraw any winnings from the use of the bonus. Let’s use an example. If the wagering requirements at EXAMPLE CASINO are 30 and for signing up with the casino you are given a welcome bonus of £/€/$25.00 you may see the figure displayed as ‘Free £/€/$25 to sign up’. When you look a bit more closely, you may see a mention of the wagering requirements being £/€/$25x30 in order to receive your bonus. This would mean that you have to play through the figure of £/€/$25, 30 times to receive the bonus. In essence, you would need to deposit/ play with £/€/$750 before being able to withdraw your £/€/$25 welcome bonus.
How do Wagering Requirements work? The different types of wagering requirements
Wagering Requirements often come in two different forms. It is important to understand the different forms that they can be in so that you can be sure that when you play you have all of the information to hand. We will briefly cover the two different types, or forms, of wagering requirements.
Wage requirements as Free Bets:
Is a free bet ever free? Well, let’s find out. In our first example of a wagering requirement, you may see it applied to free to bet bonuses. With free bet wagering requirements, the wagering requirement will generally have a condition where the client must fulfil certain criteria through the bet to get their free bets related to the promotion. Usually, there will be a minimum amount required to trigger the free bet e.g (bet £/€/$10 to get £/€/$20) and also a minimum odds requirement that needs to be met to get the bonus.
Wagering Requirements Relating to Deposit Bonuses:
The second main type of wagering requirements is associated with deposit bonuses. This is the type of bonus where players will get free bet funds that are tied to a certain percentage of their normally first deposit.
Typically, the wagering requirements related to deposit bonuses stipulate that players must bet a certain total amount through their account before they are able to withdraw any of their winnings earned through the use of the bonus are available to withdraw.
Between promotions and casinos, the total amount that is needed to be bet to withdraw the bonus and winnings will vary as which will the types of bet that make up the requirements.
Let’s explore the concept of the wagering requirements relating to deposit bonuses in an example. EXAMPLE CASINO has a 100% deposit bonus up to £/€/$100 for all new players who sign up. What this means is that if you deposit £/€/$100 you will be eligible to receive a £/€/$100 bonus.
When you look at the wagering requirements you will see that there is a (1 x) next to the £/€/$100. What does this mean? This means that in order to access and release the bonus funds that are part of the promotion, you must deposit the £/€/$100 with EXAMPLE CASINO once (x1).
Sometimes, the deposit bonus may be tied to other stipulations. For example, there may be a 3x deposit + bonus amount requirements. If this is the case, then it means that you would have to place another £/€/$500 worth of bets with the casino to be able to withdraw the funds and the bonus.
Wagering requirements relating to Free Spins
Free spin wagering requirements take a similar form to the other two types of wagering requirements that we have seen. Usually, a free spins wagering requirement will be part of another wagering requirement that the casino has. For example, you may see free spins in conjunction with a free bet bonus or a free money bonus. This would be where the player is given a certain number of free spins that tie in with either the amount that they deposit or the number of times they play a game. E.g receive 20 free spins once you have played a certain number of times or receive 20 free spins if you deposit £/$/€20.
Why do casinos have wagering requirements?
Wagering requirements are part and parcel of online casinos and nearly all offer wagering requirements as part of their promotions and bonuses. Whilst you may not like wagering requirements, we are sure that you do like fantastic bonuses and promotions from the very best casinos. In order to justify their promotions, casinos need to have wagering requirements to reduce the amount they lose. They want players to try and play games and to win but they also want to reward players for their playing by meeting certain criteria.
For example, if you think of any national coffee chain that offers you free coffee, sometimes there are conditions. Many have a stamp program in place that gives you free coffee. For every coffee you purchase you are given a stamp that goes towards a free coffee - once you have 10 stamps you get the coffee. Whilst the coffee is free, you have to be a loyal customer at the coffee shop to get it. Essentially, wagering requirements reward loyalty to one casino.
Why it is important to understand wagering requirements
At Handpicked Casinos, we like our players to enjoy their games and win big. We pride ourselves on being able to offer industry-leading reviews, advice and more. As part of our commitment to our players, we urge that you look at the wagering requirements associated with any of the games you play. This will allow you to see how much funds you will need to part with to receive your wagering requirement. Our top tip for wagering requirements? Look out for games with the lower wagering requirements and free cash bonuses if you want to maximise your returns. You will have a better chance of cashing out with your bonus money.
Wagering requirements are part and parcel of nearly every online casino and are an important feature to understand. Make sure you fully read all of the wagering requirements and terms and conditions before you play and have a great time enjoying your favourite games and winning big.