Wagering Requirements Demystified
Have you ever seen a lucrative welcome bonus, or deposit bonus and rushed to claim it before realizing there are extensive terms and conditions associated with the bonus before you can cash out? And within those terms in conditions, you saw something called a wagering requirement and became too intimidated to claim the bonus? Well, in this article, we're going to demystify the notorious wagering requirement. We're going to discuss what a wagering requirement is, and how to fulfill it! We're going to examine the impact of wagering requirements on your casino bonuses, how to properly calculate and meet your wagering requirements, and more.
If you don't know what the term wager is exactly, a wager is just a bet you place. It's the amount of money you stake with every spin, or hand of cards, or sports match. There are wagers of all types. The term wager might also refer to the amount of money you bet in a session or over a period of time. When you sign up for a new casino, you'll often be greeted with a plethora of bonuses. They'll offer you a welcome bonus, or a welcome bonus package. The welcome bonus package might include free spins on a particular slot for example. They might offer free bets when you sign up for the platform to use on their sportsbook, or they might offer plain old cash bonuses. The offers will all be very enticing. However, your average bonus comes with a wagering requirement. The requirements state you need to wager a certain amount of money before you can withdraw the bonus, or collect any winnings you received through the bonus.
Types of Wagering Requirements
Wagering requirements operate differently depending on the type of bonus you're going to claim. For example, with a cash bonus you have to bet through a specific multiplier before you can withdraw your winnings or any related winnings. So if your bonus comes with a standard wagering requirement of 30x your bet, that means you have to bet your money 30x before you can withdraw it and receive actual winnings from it.
There are also wagering requirements associated with free spins, because free spins aren't associated with a specific cash amount, the multiplier applies to the winnings you receive from the free spins, for example. Lastly, free bets also come with requirements, so you'll have to deposit a certain amount before you can even collect the bonus, or only bet on sports with certain odds.
Wait, How Does This Work?
I know math is not everyone's strong suit, but to calculate your wagering requirements you'll have to use a basic formula. Don't worry, there are online wagering requirement calculators you can use if necessary! Regardless, the baseline formula for calculating your wagering requirements is your bonus amount x wagering requirement = total bet. This is the formula for a regular bonus, so if you deposit 30 EUR, you need to use the formula 30 EUR x 30 = 900 EUR.
Sticky bonuses are different however. The formula for sticky bonuses is (bonus amount)+ (initial deposit) x (wagering requirement) = your total bet. The total might seem like a lot at first glance, but it won't be difficult to meet most wagering requirements.
Do keep in mind that before you claim any bonus, you must make sure to read the terms and conditions associated with the bonus. You'll need to read through the fine print and notice any nuance or tiny detail you might have missed at first glance and make note of it. For example, the minimum deposit requirement is entirely important and purposeful, as you cannot even claim a promotion without making a qualifying deposit. Also, remember that every online casino is different! So don't assume just because you've claimed a similar bonus elsewhere that the wagering requirements will be the same.