What are Casino Bonus Wagering Requirements?
Wagering requirements are the casino bonus conditions a player must fulfill to receive a payout from a casino or sports betting site. These terms and conditions are necessary for a casino because they protect the establishment from bonus abuse, unjustified payouts, and potential loss. Therefore, a wagering requirement will dictate how many times a player must wager an amount equal to the deposit and bonus before cashing out casino winnings.
Why Casinos have Wagering Requirements.
The purpose of wagering requirements is to protect casinos, especially bonus-offering gambling sites from being exploited by players who would just claim bonuses to no end without depositing any real money. At the end of the day, players still get to enjoy a seamless online casino experience even with the requirements.
Casinos have unique wagering requirements for their bonuses. Some have high wagering bonus offers that may end up too costly for players. Make sure to compare online casinos and bonuses and pick low-wagering casinos and bonuses.
How do Wagering Requirements Work?
All the best online casinos or sports betting site will set out what the terms and conditions explicitly for players to see. Players cannot withdraw casino winnings if playthrough requirements are not met. It is also a player’s responsibility to go through the terms to make sure they go about their online gambling with the right information.
Example of Playthrough Requirement
A casino offers a 100% match up to $6000 welcome bonus with 20x wagering requirements. Let’s say the minimum deposit to qualify for this bonus is $30 and the player makes a $30 deposit.
The bonus received is 100% match so the player will receive another $30 meaning that the player has a total of $60 to play with.
With wagering requirements of x20, the player must wager the bonus + deposit amount 20x to be eligible for a cash-out.
$60 X 20 = $1200
So, the player will have to make a real money wager of $1200 before they can request a withdrawal.
A player must remember that the likelihood of winning is still wholly dependent on the type of game they play and the skill they display. At the end of the day, gambling is all about chance, nothing can guarantee a win and players can only hope for the best odds.
Other Types of Casino Bonus Terms and Conditions
While wagering requirements are the most significant of bonus terms and conditions, there are other bonus rules that accompany playthrough terms.
Time limits: Bonuses are valid for a limited time. Casinos clearly state how long welcome bonuses and other promotions are valid. Once you claim a bonus you need to use it within its time frame. Minimum bet: casinos limit the amount you can bet per round on bonuses. If you exceed the stipulated minimum bet, you may incur a penalty like additional wagering requirements. The maximum cash out -Some casinos have a maximum you can win on a bonus if it is not a jackpot. This is also another way to regulate how much money can go out of the casino.
Types of Bonuses and Promotions
Match Deposit Bonus:
This is the most common casino bonus; the casino matches your deposit by a percentage.
We know that slots are a favorite pastime for many Australian players and that is why casino sites are generous with their free spin bonuses
Most casinos have personalized promotional offers for players. Whether it is a VIP bonus, a loyalty bonus, and much more, these promotions will keep you coming back for more.
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