What is actually wagering?
As we have already explained above, there is no matter to online casinos if you are a new or existing player to try to attract you with generous bonus offers. Every special offer has specific terms and conditions where wagering is one of the main requirements implemented in most of the bonus offers.
What exactly does wagering mean? Basically, it means taking part in gambling activity by betting on either casino game, an online slot, sports, poker, or other table game to fulfill bonus offer requirements.
Do you need to wager anything? As a matter of fact, online casinos don’t just give you a bonus with extra money, so that it can be instantly converted into cash. They are not that generous and it wouldn’t be good for the business. Instead, they offer you a deal: we give you extra money, but you have to cover specific requirements to withdraw it. For example you need to place bets until wagering requirements are met.
The most common question is can you withdraw the money anyway and pay it back later? Usually, when a bonus is credited, a certain amount gets frozen in your balance until you complete the wagering requirements.
To answer the question above, we will look at three examples of different wagering requirements for different bonus offers.
Example 1. 100% deposit bonus, up to €100 with a wagering requirement of x30 bonus
In this case, the online casino site offers a bonus of 100%, meaning that if you deposit €100, you will get an extra €100. But here appears a number of times (x30) you need to wager your new bonus. Let’s put variables in the equation: €100 x 30 = €3000. And here it is! Before you can withdraw the money, you need to place bets for €3000.
Example 2. 100% deposit bonus, up to €200 with a wagering requirement of x15 bonus + deposit
Let’s look at the second example: now you can be eligible for up to €200, meaning that if you deposit €200, you will get an extra €200. As for wagering, now you will have to wager both bonus and deposit money 15 times. Back to the equation: (€200 + €200) x 15 = €6000. You need to place bets for €6000 to meet wagering requirements.
Example 3. 100% deposit bonus, up to €100 + 200 Extra Spins on the popular slot Gonzo’s Quest with a wagering requirement of x30 bonus
As in the first example, you need to place bets for €3000. But there is a catch of 200 extra spins, which also counts as a bonus. Thus everything you win by playing Gonzo’s Quest needs to be wagered. For example, you used 200 extra spins and won €20. The wager amount is €20 x 30 = €600. So the total amount to place bets for is €3600.
As it is a competitive business different online casino sites offer different casino bonuses. There are casino operators that can come up with up to €1500, others offer just €100 bonus in funds. When choosing the best online casino bonus, wagering requirements are one of the most important things you should pay attention at.
Usually all the information about wagering is filled in the Terms and conditions section of the specific bonus. If you compare wagering requirements of a different online casino bonus offers, always look for a certain number of times you need to wager. The smaller the number is, the fewer times you need to bet on a specific casino game until you can withdraw the money. Figures can vary from 20x to 75x etc.
Don’t forget that the fulfillment of bonus wagering requirements starts as soon as the bonus amount is credited to your online casino wallet. Different online casinos offer different wagering time. It can vary from 3 days to 10 days.
In that article you you learned about meaning of wagering, how its requirements are being set and calculated. Now you will discover the best strategies to fulfill wagering requirements faster and convert that bonus into cash. Knowing how online casinos love tricks, always take the following into account when looking for the best wagering strategy.
Catch 1. Usually online casinos forbid placing a maximum bet of a needed wager amount. If you need to wager €3000, you cannot put one bet for €3000 and instantly fulfill the wagering requirement. Instead, the maximum bet you can place is usually between €3 – €10. Of course, you can rely even on smaller bets until wagering requirements are met.
Catch 2. Different online casino games have different contributions to the wagering requirements. It means that by playing various casino games, you will encounter different given odds.
For example, online slot machines have the RTP (Return To Player) rate. It determines what percentage of payouts the slots give back to the players over a long period. While RTP can vary from 92% to 98%, it doesn’t mean that slots will give you payouts on these percentages every play session. You still can get unlucky and get nothing back. By checking the info tab on the slot game, you will discover that some slots have better RTP than others.
Logically, the best way to beat wagering requirements is to play games with better odds. If wagering requirements are high, then it should be a good idea to play more aggressively and choose slots with a better RTP rate. But casinos know that as well! So, when you play to meet wagering requirements, unfortunately, some slots might not be available for you.
No matter what, don’t forget always to check terms and conditions first, because sometimes online casinos don’t allow you to choose games with best odds and the best RTP rate to beat wagering recruitments faster. If you’re unsure what game to play, you can always contact the customer support.
Now you have learned about one of the most important requirements online casinos include with their special bonus offers – wagering. Of course casinos won’t give you the bonus money for free. You have to complete the wagering requirements first, to be able to withdraw any winnings from bonus money.
You also should have an idea how wagering works in practice by analyzing the examples. It should be clear now that different online casinos set different requirements. And if you find a casino site that offers a really big bonus, always check its wagering requirements. If you want to know more details about various casino offers, check out ourlibrary of casino reviews, where you will find everything you need to know about the bonus offers in different online casino sites.