Wager Wise: Understanding Slot Bonus Wagering Requirements
Are you ready to take some fun money and hit the casino, but it's your first time playing online before? You've likely never dealt with wagering requirements, as it's something unique to playing online. Wagering requirements aren't necessary when you play in person at a land based casino, but they're absolutely necessary when gambling online.
When you register for an online casino for the first time, you'll probably notice you'll be offered bonuses. Many of these bonuses look highly alluring, and can offer you free money you can play with on top of your regular deposit. Some bonuses don't even require a deposit to claim, and are given out on a weekly or monthly, or sometimes daily basis. The reality is, online casinos are much cheaper to operate, thus they can afford to give out generous online bonuses. However, the way a casino is assured their bonuses will be used fairly is by enforcing wagering requirements.
Basics: Wagering and Wagering Requirements Explained
If you weren't aware, wagering is just casino lingo for 'bet.' When you place a wager, you are placing a certain amount of money down, depending on what sort of game you are placing. If you're playing cards, the wager is the stake with each hand you play. If you're spinning the slot reels, it's the bet you place in the machine per spin, or how much you bet on a throw of dice if you're playing other casino games. The wager can also be the amount of money you bet in a specific time period or throughout a gambling session. Now that we've covered what a wager is, let's get into the specifics of what a wagering requirement is.
Whenever you join a new online gambling platform, you'll be able to take advantage of some sort of welcome promotion, or maybe a promotion for existing players. You'll be bombarded with any number of offers. In the online casino world, phrases like cash bonuses, free bets, free spins and no deposit bonuses are heavily used terms. If you take these deals for face value, it's easy to be excited about them. It's essentially free money to gamble with, and potentially win more free money, what could be better than that?
Well, most casino offers come with conditions attached to them. These conditions are typically wagering requirements. Basically it's a stipulation that states you'll have to wager a specific. amount of money before you withdraw the bonus or receive any winnings from it. Wagering requirements operate differently for every bonus type.
If it's a cash bonus, you have to bet through a specific multiplier before you can withdraw any bonus funds or money related to your winnings. The most common wagering requirement for this type of promotion is around 30x the bet, so you have to bet your bonus thirty times before you can withdraw the winnings you receive from using the promotional money.
Free spin bonuses will also come with wagering requirements. The wagering requirement attached to free spins applies purely to the winnings you receive from the free spins, rather than the cash amount the wagering requirements would apply to if it was a cash bonus.
If you receive free bets from a sportsbook based platform, keep in mind those free bets will also come with a wagering requirement. You'll need to deposit a certain number before you can collect the bonus, or you have to bet on sports with specific odds.
How To Calculate Your Wagering Requirements.
I hate to be the one to tell you this, but gambling involves math! If you're good at math, you're probably happy to hear that. However, if you struggle with math you might be a little intimidated. Don't fret because you can calculate your wagering requirements using a simple formula.
The formula is (Bonus Amount) x (Wagering Requirement) = Total Bet. So if you deposit $20, your formula would be ($20) x (30) = $600.
Sometimes while playing, you may encounter something referred to as a sticky bonus. That means your initial deposit is also involved in the wagering requirement calculations, and the formula changes to (bonus amount) + (deposit) x wagering requirement = total bet. Sticky bonuses seem harder to meet, but it's easier than you might think. You can use the winnings from the bonus money to make wagers, and as long as you bet smart. and have a little luck on your side you'll be able to meet the wagering requirements and withdraw some leftover cash. If you don't want to deal with formulas, there are wagering requirement calculators available online.
No Deposit Bonuses
The wagering requirements that are usually associated with the general casino bonuses will also apply to no deposit bonuses. In case you weren't aware, a no deposit bonus means you won't need to make a deposit to claim the promotion. You'll receive this kind of bonus typically just for signing up for the casino. However, no deposit bonuses aren't awarded without strings attached. There's a specific amount you need to wager to receive winnings.
There are also casinos with bonuses that have no wagering requirements. Since these bonuses don't come with any wagering requirements, they're generally smaller and award less when it comes to free play. No wagering casino bonuses can still include no deposit bonuses, or batches of free spins. These kind of bonuses are small, but can still be quite profitable. Some bonuses come with no wagering requirements but require a minimum deposit, and these promotions can also be worthwhile.
Cashable and Non-Cashable Bonuses
If you win a 'non-cashable bonus' that means you can use this bonus to play slots or casino games at an online casino, but you cannot cash out when you win. The terms are different and depend on what casino site you're playing on. Sometimes you can claim further free play or special credits and win a non-cashable bonus. Sometimes non-cashable bonuses require you to wager money up to a certain amount before you can cash out your winnings.
Beating The Wagering
The ultimate goal is to beat the wagering requirement, so you need to know the ins and outs of properly beating this bonus. Your first step is to thoroughly read any terms and conditions associated with the bonus. These hidden terms will supply you with information regarding what exactly the wagering requirement is and how to beat it. You'll also need to meet the minimum deposit to even claim the bonus. Some bonuses require you to bank with a certain payment method to claim, and there's usually a limit to the amount of times you can use the bonus. You'll also want to pay close attention to the wagering contribution listed in the terms and conditions. For example, the majority of the time slots apply 100% to the wagering requirement, while table games or specialty games will only apply to 10% of the wagering requirement or might not apply at all. Look carefully to find what games qualify for the bonus and what percentage of your wager they'll contribute to it. Every casino is different.
Before you even claim a bonus, you'll want to verify that the wagering requirement is actually beatable, because sometimes fraudulent casinos trick players by hiding unreasonable wagering requirements in their bonus terms and conditions. Of course, as long as you play on a legitimate platform this likely won't be a problem.