Casino Bonus Wagering Requirements Explained
Bonus Wagering Requirements
So a user has a list of bonuses in front of him or her and doesn’t know what they entail. He or she might be in the process of trying his or her luck, and may select any of them, then win big even without the slightest clue of how it all unfolded. This is knowledge that users can’t pass up if they have the intention of being a long-time player. Users can choose to ignore it, but one thing they should bear in mind when doing so is that they’ll never get hold of their cash unless they are waiting for a miracle.
Demystifying Wagering Requirements
The first step to grasping the concept of Casino bonus wagering requirements explained is to identify the meaning of wagering requirements. Wagering requirements, also known as play through requirements, are measures put in place to prohibit online users from abusing the privileges of having various bonuses. They are an insurance policy that will protect the online casino from unscrupulous online players who have the intention of taking advantage of offers made available to them.
The wagering requirements are what stipulate the conditions required for any online player to be eligible to withdraw the bonuses. Users have to meet these requirements in order to be allowed free access to the awards and bonuses.
Reasons for Wagering Requirements
Casino bonus wagering requirements explained is an attempt to make the game more fair by enlightening users of the importance of wagering requirements. A lot of people deem the wagering requirements as an unfair means to deny them of their rightful bonuses. They never try to see it from the other side, or put themselves in the shoes of the online casino. The numbers of people gaining riches from online casinos, were it not for wagering requirements, would be beyond comprehension. Wagering requirements only act as tools that separate the serious contenders from people seeking to get an easy and unworthy road to fortune.
Example
Let’s say casino A is offering a welcome bonus of $160 for a percentage of 320%. This means that the user will receive $160 should he or she deposit $50.
Some people will think that they can just deposit $50 and withdraw the $160 then make a profit of $110. Unfortunately for them, that’s not possible even in their wildest dreams. This is because the wagering requirements will prohibit users from attempting such an unjust and unfair act. Users will find that the wagering placed by casino A for the entire $160 bonus will be at 30X. This means that a user will have to deposit $4800 ($30x $160) in order to claim the bonus.
An in-depth look will show that the average edge of casino A is around 4%. Multiplying this figure by $4800 will yield $192, which is $32 more than the $160 bonus being offered. This not only a good example of Casino bonus wagering requirements explained, but also goes to show that they aren’t losing on the bonus, otherwise they’d have packed their bags and headed home due to bankruptcy.
Why it is Important to Understand Bonus Terms
Carefully reading and understanding the bonus terms and conditions can help you make the most of your money. For instance, a casino gives 100% welcome bonus up to $100, but its playthrough requirements are 90x, which is pretty high and probably impossible to reach. You may spend your entire money plus the bonus money faster than meeting the wagering requirements. Additionally, the initial deposit limit may be pretty high which is not good if you have a smaller bankroll. Lastly, not all games count toward meeting the wagering terms and conditions. In other words, you cannot play every single game with all casino bonuses.
Wagering Requirements Explained
To closely explain the wagering requirements, let’s consider an example of online casino bonus. A casino gives $10 no deposit bonus. Players don’t have to make a deposit to claim the bonus and they are playing with casino money instead of risking their own. However, they cannot withdraw it right away because they have to bet the bonus multiple times on specific games, make a profit and then cash out the winnings. Our no deposit bonus of $10 has 50x wagering requirements. This means that it has to be bet 50 times before a withdrawal is requested.
Cash Out Restrictions
The casino bonus terms and conditions also include section about the cash out limits. Even if you meet the playthrough requirements and make money with the bonus you cannot cash out your entire winnings at once. No deposit bonuses for example have cash out limit that rangers from no limit to as small as 1x. If the bonus is larger, it may only be cashed out in smaller fractions.
Game Eligibility
Last but not least, bonuses can only be used to play specific casino games. No deposit bonuses are usually used for playing slots and keno, while games like roulette and blackjack don’t count toward meeting the wagering requirements.