Wagering requirements are a key aspect of online gambling and are often used to entice new players to sign up for a casino or sportsbook. However, many beginners may not understand what they are or how they work. This updated guide will explain wagering requirements in detail, helping beginners to make informed decisions about online gambling.
What are Wagering Requirements?
Wagering requirements, also known as playthrough requirements, refer to the amount of money a player must wager before they can withdraw any winnings earned from a bonus. They are typically expressed as a multiple of the bonus amount or the bonus plus deposit amount. For example, if a casino offers a 100% match bonus up to $100 with a 30x wagering requirement, a player who deposits $100 and receives a $100 bonus will need to wager $3,000 (30 x $100) before they can withdraw any winnings.
Wagering requirements are used by casinos and sportsbooks to prevent players from immediately cashing out their bonuses without playing any games or making any bets. They are also designed to ensure that players continue to gamble with the casino or sportsbook after claiming a bonus.
Different Types of Wagering Requirements
There are several different types of wagering requirements that beginners should be aware of. The most common types include:
- Bonus Only Wagering Requirements: This type of wagering requirement applies only to the bonus amount and not to the deposit amount. For example, if a player receives a $100 bonus with a 30x wagering requirement, they will need to wager $3,000 before they can withdraw any winnings.
- Deposit + Bonus Wagering Requirements: This type of wagering requirement applies to both the deposit amount and the bonus amount. For example, if a player deposits $100 and receives a $100 bonus with a 30x wagering requirement, they will need to wager $6,000 (30 x $200) before they can withdraw any winnings.
- Game-Specific Wagering Requirements: Some casinos and sportsbooks apply different wagering requirements to different games. For example, they may require players to wager more on slots than on table games in order to meet the wagering requirements.
- Time Limits: Some bonuses come with a time limit, meaning that players must meet the wagering requirements within a certain amount of time. If they fail to do so, the bonus and any winnings earned from it may be forfeited.
How to Calculate Wagering Requirements
Calculating wagering requirements is relatively straightforward. To do so, players must first determine the wagering requirement multiplier. This is usually expressed as a multiple of the online casino bonus amount or the deposit plus the bonus amount. For example, if a casino offers a 100% match bonus up to $100 with a 30x wagering requirement, the wagering requirement multiplier is 30x.
Players must then multiply the wagering requirement multiplied by the bonus amount or the deposit plus the bonus amount. For example, if a player deposits $100 and receives a $100 bonus with a 30x wagering requirement, they will need to wager $6,000 (30 x $200) before they can withdraw any winnings.
Tips for Meeting Wagering Requirements
Meeting wagering requirements can be a daunting task for beginners, but there are several tips that can help:
Read the Terms and Conditions: Before claiming any bonus, it is important to read the terms and conditions carefully. This will help players understand the wagering requirements and any other restrictions that may apply.
Choose Games Wisely: Some games have lower house edges than others, meaning that players are more likely to win. Choosing these games can increase the chances of meeting the wagering requirements and walking away with a profit.