Have you ever accepted an online casino bonus only to find out later that there are certain wagering requirements? Well, you are not alone.
So many online casino gamers are tricked into accepting large bonuses just to find out that it has a 10x or 20x wagering requirement. Now what exactly does this mean and what is a wagering requirement? In this post, you will find a short and simple explanation that will leave you with no doubt about how to calculate the best casino bonuses and wagering requirements, which will ensure that you choose the right online casino and slot for you.
What is a wagering requirement?
Before I can even begin to start explaining how to beat the wagering requirements at slots, you probably want to know exactly what a wagering requirement is and the role that it plays in online gambling.
A wager refers to when you bet money on an online slot; the results of a sports event, poker game or a roulette table (just to name a few). Bonuses are usually used by online casinos as a means of attracting new players (sign-up bonuses) or rewarding loyal customers.
Most new online players do not know this (unless they did their research) but more often than not these bonuses come with a wagering requirement attached, usually in the fine print.
Casino bonuses usually have quite a number of terms and conditions that has to be met by the player before they can claim or withdraw the bonus. These usually include a minimum or maximum withdrawal limit or a wagering requirement.
While the meaning of a minimum or maximum withdrawal is quite clear, most new players have no idea what a wagering requirement is. Simply put, a wagering requirement refers to the number of times that a player has to play the bonus amount before they are allowed to withdraw the bonus amount.
So before you can make a withdrawal you need to meet the wagering requirement. If you do not fulfill the wagering requirement, you will never be able to withdraw your bonus.
How do you calculate the wagering requirement of a bonus?
Calculating the wagering requirement for a bonus is simple. Just use plain old mathematics. The best way to explain this would be by providing an example.
So imagine that you have joined an online casino that offers the best slot machines. Now in addition to the sign-up bonus, the casino is also offering you a $200 slots bonus when you deposit $50. This slots bonus comes with a wagering requirement of 10x.
This is exactly how you would calculate it:
Example: $200 (casino bonus) x 10 (wagering requirement) = $2000
So before you to make cash withdrawals you need to wager a total of $2000. The wagering requirement could also stipulate that you have to include your deposit. Find below an example of calculating this type of wagering requirement.
Example: $50 (money deposited) + $200 (casino bonus) x 10 (wagering requirement) =$2500
So before you accept any bonus offer, be sure to read the terms and conditions very carefully.