What Are Online Casino Wagering Requirements and How Do They Work?
Every signup, purchase, activity, bonus, or promotion has terms and conditions on the internet. No exchange of products, services, relationships, or gifts is free of this. That’s how merchants and customers establish and maintain trust and security.
In online casino gambling, players get bonus and promotion rewards upon deposit. These bonuses can range from 5% to 300% of a player’s deposit (sometimes even more). Players can use their bonus credits and free spins to play and win games. Profits from winnings can therefore get withdrawn subject to the casino’s wagering requirements.
What are wagering requirements?
The condition applied to a bonus or deposit to qualify a player for withdrawals is a wagering requirement; this refers to the rules a casino has to oversee the fairness of withdrawal of winnings generated through bonuses and promotions, usually bonus credits and free spins. Although, this could apply to a player’s deposit as well.
For example, if a player signs up to a casino for $100 and gets 100% up on their deposit, they will have $200 as a balance in the casino. And once the player starts gambling and winning games, the casino may have a 20x wager requirement: This means the player will have to make $400 worth of bets before qualifying for withdrawal on all wins made through bonuses.
When do wagering requirements kick in?
Wagering requirements, therefore, kick in instantly when a player deposits funds into a casino and accepts a bonus: These can range between 5x to 50x or more at online casinos and 1x to 5x at sports betting sites. We should thus mention that at online casinos, the deposit and bonus both have a wagering requirement. And in most cases, this playthrough is applied whether or not the player chooses to claim their promotion. However, the wagering requirement on deposits without bonuses is slightly different from those with bonuses.
So, as a player, it is essential to read the terms and conditions of a casino’s deposits, bonuses, promotions, and tournament prize pool, as these can affect your withdrawal and the number of bets you have to make. Most online casinos also have a FAQ page, blog, and 24-hour live support channel you can consult with regarding wagers.