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Understanding Wagering Requirements

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If you have noticed, a common feature of online casinos and betting sites is the bonuses they offer. These bonuses are generally offered to entice new customers and, in some cases, to engage existing players as well.

While having bonuses up for grabs may seem like an exciting proposition, they do come with certain terms and conditions. Wagering requirements are one of those conditions that are linked to almost all bonuses offered by online casinos and gambling sites these days.

So, what are wagering requirements? Understanding the meaning, functioning, and significance of wagering requirements will help you take advantage of lucrative bonuses in the online gaming world.

This blog explains all that you need to know about wagering requirements.

What Are Wagering Requirements?

The definition of wagering requirements is that they are the conditions you have to meet to become eligible for withdrawing any cash or winnings associated with a bonus deal. In online casino and gaming terminology, wagering requirements are also referred to as playthrough requirements or bonus rollover.  

Now, before we get to explaining wagering requirements in detail, let's first understand the meaning of a wager. In simple terms, a wager refers to a bet you put on any type of online game. You have to use real money to place such a bet.

When you sign up as a new player for an online gaming site or casino, you are likely to receive a welcome bonus or incentive. Wagering requirements refer to the amount of money you must bet or wager on qualifying games to be able to withdraw the bonus amount or any winning amount associated with it.

Note that the bonus or incentive offered can vary from one gaming site or casino to another. The wagering requirements also vary. Generally, the wagering amount is expressed as a multiplier of the bonus, ranging from 1x to 50x, based on the offer.

Now that we have wagering requirements explained to you, let's explore their functioning.

How Do Wagering Requirements Work?

The core mechanism of wagering requirements is that you have to place bets to be able to convert your bonus amount into cash. But how much money should you bet?

Well, this is where you need to know about the working of wagering requirements. Relax; understanding how wagering works is easy.

Just remember that the functioning of wagering requirements depends on the type of bonus offered. Yes, it's different for each bonus type!

Let's begin with a cash bonus. To be able to withdraw any cash bonus funds and winnings associated with it, you need to bet through a pre-determined multiplier.

Suppose you get a cash casino bonus that has a wagering requirement of 10x. This means you will be required to bet the bonus amount offered to you ten times over to be eligible to withdraw it and the winnings you receive from it.

You may even bet free spins to meet the wagering requirements. However, free spins don't require you to bet cash amounts, so the multiplier will apply to the amount you win from them.

Generally, free bets also come with wagering requirements. You may have to wager on sports having certain odds or deposit a specified amount to be able to encash your bonus.

Importance of Wagering Requirements

Many new players wonder why wagering requirements matter in online casinos and gaming sites. The explanation is pretty simple: the role of wagering requirements is to prevent dishonest people from taking undue advantage of the bonuses.

Online casinos and gaming sites want the bonuses to benefit genuine customers. They want to encourage people to continue playing at their site through such rewards and incentives. By placing various wagering terms and conditions, they ensure that an individual will have to bet with the company before being able to walk away with the bonus.

In the absence of wagering requirements, any individual can sign up for an account, claim the welcome bonus offered, and withdraw the money without bothering to place a bet.

So, wagering requirements protect the interests of genuine players who are interested in playing online.

Different Types of Wagering Requirements          

Online casinos and gaming sites implement different types of wagering conditions for different types of incentives. They can be specified into three varieties of wagering requirements.

These requirements are as follows:

1. Wagering Requirements for Bonuses

This requirement relates to a cash bonus. You are offered a cash bonus or incentive for x amount of money. To claim this amount, you will have to meet the wagering requirement. It can be a specified amount of 1x, 5x, 10x, etc.

2. Wagering Requirements for Deposits

This wagering requirement is for deposit bonuses. It involves paying out a specified amount depending on how much money you deposit in your gaming account when you sign up for it. To withdraw the deposit bonus, you will have to meet the wagering requirement.

3. Wagering Requirements for Free Spins

This type of wagering requirement is related to free spin bonuses. They are usually used for slot games. You get a chance to pull the lever for free for a specified number of times. To withdraw the money from your winning spins, you will have to wager an amount that's x times your winning amount.

To Wrap

When it comes to online casinos and games, it's important to be aware of all terms and conditions before you start playing. Now that you know the wagering requirements, you will be in a better position to evaluate the bonuses and incentives offered.