Wagering Requirements
Online casino gambling is loaded with exciting promotions and perks. One such benefit to playing online is the generous bonus feature. Many folks understand terms like ‘100% matching bonus on first deposits’ but they are less certain of how they will withdraw their winnings once they come.
Understanding the terms
Whether you are a high-roller (whale) or a curious novice, online gaming has lots to offer. With all the regular promotions, sign-up bonuses and tournaments on offer, it’s wise to understand exactly what is meant and how to qualify for these offers.
Online casino bonuses regularly change, but there are some commonalities that will help to define this feature more clearly. Games like craps, blackjack and even roulette oftentimes do not allow bonus money to be used. But more importantly are the wagering requirements attached to receiving bonus money.
A wagering requirement is a rule that a certain number of wagers have to be placed before you qualify for receiving your bonus money. For example you may have to bet your initial deposit plus a bonus, multiple times before you can withdraw any money from your account. How many times – anywhere up to 37 is the typical answer.
Why are there wagering requirements?
The online casinos want to make sure that gamblers don’t withdraw all their cash every time they accept bonuses or promotional offers. This is termed a play through requirement or a wagering requirement. It’s very important to note whether the wagering requirement includes the deposit plus the bonus, or simply the bonus alone.
The wagering requirement means that a player must put a certain amount of cash into play before they qualify for the bonus cash. A 10X bonus wagering requirement with a bonus of $40 would require that $400 be put into play before the bonus is awarded. Remember that these aren’t open-ended invitations; you may have to see how much time you have to do it.
Can you win with this system?
Yes. It’s a matter of time before a player understands both the game and the wagering requirements. The stats on game plays will show that after the preset number of wagers – say 37 – a normal player would break even or at least be able to win. The better a player you are, the greater your chances of taking home your initial deposit and bonus money, plus extra.
Online casinos naturally stand to benefit the longer you play but it’s free money to you if you win. Once you’ve won, it can take a while before you receive your money, but with the high payout percentages – 96% and higher – you’re assured of receiving your winnings.
