Online Casino Wagering Requirements
Online casino bonuses have become something of a tradition. Online casinos offer these bonuses not because they want to be philanthropic, but because they want to encourage punters to play.
The most common type of bonuses you will find in the majority of online casinos are the match deposit bonuses and no deposit bonuses. In the match deposit bonuses, the casino rewards players by doubling or even tripling their first deposit. In the latter, the casino gives the player free money to wager with, without depositing a single dollar. These bonuses should be used for the purpose for which they are intended; to play games. However, the online casino industry has, in the past, witnessed a widespread occurrence of bonus abuse by players, and casinos had to incur huge losses, as players would simply open accounts and cash out the signup bonuses awarded to them. Now, this abuse had to stop at all costs and to offset this financial risk, online casinos had to introduce specific rules to accompany the bonus offers. This set of new regulations is known as the wagering requirements (playthrough requirements).
Sure, the rules are something which casino players never want to hear about, but they are necessary to cushion online casinos against fraud, which usually culminates in significant financial losses. Of course, these requirements typically don’t affect genuine casino gamblers, who are out to have fun and win the right way.
How Wagering Requirements Work
In most cases, players have to wager a set number of times to meet the wagering requirements and cash out their winnings.
The amount often varies from one casino to another, and that’s why you need to do some homework to find bonuses with the lowest wagering requirements. Every online casino has its playthrough requirements contained in the terms and conditions; hence, you won’t be hard-pressed to locate them.
Assume that an online casino’s wagering requirement is 10x. This would mean that you must wager to the value equivalent to 10 times your initial deposit before you can withdraw any winnings. So, if you deposit $100 and the casino rewards you with a 100% bonus, you will have a bankroll of $200 to play with. You will need to place bets to the value of $1000 before you can cash out your winnings.
Although this sounds harsh, it is not intended to punish you as a player. The requirement is only there to discourage fraudulent players who are out to rob the casino of millions of dollars. Remember, if the casinos don’t put a proper system in place to keep fraudsters away, they (online casinos) will go down, and genuine players will be deprived of the opportunity to have fun.
Hence, wagering requirements are a preventive measure meant to ensure that casinos exist.
To make the matter more complicated, some online casino sites assign some of their games (games which count towards meeting the playthrough requirements) a percentage. For instance, you may find slots allocated 100%, meaning that every bet you place moves you closer to meeting the wagering requirements.
In games such as poker, the percentage is usually much lower, with some casinos assigning as low as 40%. This means that every $100 bet counts only $40 towards the playthrough requirements. As already mentioned, it is particularly crucial to know the wagering requirements of any online casino before joining. Yes, the lower the wagering requirements, the better they are for players, but there are dozens of less reputable online casinos with playthrough requirements as high as 50x.
This alone should raise a red flag.
Can You Avoid Wagering Requirements?
As long as you’re claiming a bonus attached to wagering requirements, you can’t avoid them. However, if you don’t want to go through the hassle of these requirements, you can just avoid claiming the bonuses, which is actually not advisable. Despite being accompanied by the playthrough requirements, online casino bonuses are meant to boost your bankroll, up to even threefold.
A big bankroll prolongs your game-time, making it possible to maximise your casino fun. And the fact that many online casino gamers meet wagering requirements is proof of how possible it is for any real casino player to meet them.
How to Beat Playthrough Requirements
Given that wagering requirements are put in place for valid reasons, you may need to find an online casino site whose bonuses come without these requirements. Another way could be to ignore any bonus offers. So, to answer the question above, here is the summary:
Don’t claim bonuses or promotional offers which gaming sites offer. Join a casino where you can find a bonus with no wagering requirements.
The Future of Wagering Requirements
Online casinos are always striving to come up with new, innovative ways of luring gamblers into playing. In the last couple of years, new bonus trends have been witnessed regularly; hence, any kind of shift from wagering requirements won’t come as a surprise at all. With no deposit and wager-free bonuses having gained immense popularity today (as of 2019), anything could happen to wagering requirements.
Having read this guide, we hope that you have gained a proper insight into the world of wagering requirements. Bonuses can be exciting to claim, but they sometimes cause pain when claimed without knowing the wagering requirements attached to them. However, as you have seen in this guide, the wagering requirements make a lot of sense in terms of complying with money-laundering regulations and ensuring that casinos stay in business and are entirely legal.
Having said that, only fools rush in. This is an old saying which comes in handy when dealing with online casino bonuses. Reading the fine print can only be of great benefit to you, and understanding the wagering requirements before accepting any bonuses is clearly your responsibility, not that of the casino. So, there is really no point in rushing to claim any bonuses. Take your time to do the homework and get the best out of your gaming experience.
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