One of the most exciting things about playing at online casinos is claiming all those juicy bonuses. Before you claim any bonus, you should know that they always have terms and conditions attached to them. Wagering requirements are some of the most common bonus terms and conditions. Before you can claim any winnings from bonus funds, you must fulfil these requirements. As much as bonuses are exciting, it is important for you to check out the wagering requirements and make sure you can meet them. Else, you would have to forfeit your bonus and any potential winnings. Dive in and find out more about wagering requirements, how to calculate them and some tips for meeting them!
What Are Wagering Requirements?
If you’ve ever been to a casino bonus site, even just out of curiosity, you have probably already stumbled on the term wagering requirements. What then are wagering requirements? They are multipliers that represent the number of times you must bet and play through your bonus before you can claim any potential winnings. Failure to fulfil these requirements will result in you losing your bonus funds and any winnings you might have gotten. Not all bonuses have wagering requirements. For example, free spins with no wagering do not need you to fulfil any requirements to claim your winnings. Let’s have a look at the types of bonuses that have wagering requirements!
- Welcome Bonuses: Almost all welcome bonuses have wagering requirements attached to them! Since these bonuses come under different forms, these requirements work differently for them. For match bonuses, the wagering requirements are attached to the bonus funds the casino gives you. However, free spins wagering requirements are valid for your winnings and not the number of free spins you got.
- Reload Bonuses: Reload bonuses are a fun way for online casinos to reward returning players for making deposits! These bonuses are usually offered on a weekly or monthly basis. For example, a casino could offer a 40% reload bonus on your first deposit every Thursday. Unlike welcome bonuses, they are recurrent!
How Do Wagering Requirements Work?
Like we mentioned above, wagering requirements work differently depending on the type of bonus you’ve claimed! If you claim a free spins bonus offer, the wagering requirements will be attached to all your free spin winnings. However, for a match bonus, the wagering requirements will be valid only for the funds the casino matched your deposit with. Calculating wagering requirements is not as complicated as some people make it seem. We’ll show you how to calculate free spins and bonus funds wagering requirements.
Bonus Amount x Wagering Requirements = Total Bet
If a casino offers a 100% match bonus on your $20 deposit, then you would get an extra $20 in bonus funds. If the wagering requirements go up to 30x, then you would have to bet and play through 30 x $20 = $600 to claim any potential winnings. This goes the same for reload bonuses. If you get a 40% reload bonus on your $50 deposit, the casino will give you an extra $20 to play with. If the wagering requirements for this bonus are 25x, then you would have to bet and play through 25 x $20 = $500 to claim potential winnings.
Wagering requirements for free spins work differently. So, the wagering requirements would be Bonus Winnings x Wagering Requirements = Total Bet. Let’s say you receive 100 free spins with a 30x wagering requirement, and you win $150 from those free spins, then you would have to bet and play through $150 x 30 = $4500 to claim your winnings.
If you come across a sticky bonus, then the total bet is going to be calculated differently. To claim any potential winnings, you would have to use a different formula:
Bonus Amount + Deposit Amount x Wagering Requirements = Total Bet
Let’s imagine you deposit $50 and get an extra $50 with a 30x wagering requirement, you would have to bet and play through $50 + $50 x 30 = $3000.
It is important for you to read the fine print because the wagering requirements are always in the Terms and Conditions section of the bonus. Sometimes, you will find the requirements in the casino’s general Terms and Conditions section.
Common Wagering Requirement Terms and Conditions
Although wagering requirements are part of the terms and conditions, they do have certain prerequisites for you to fulfil so you can claim your winnings. Let’s have a look at them!
Playthrough Requirements
A playthrough requirement is also known as a rollover requirement. This is the number of times you have to wager the bonus funds before you can withdraw your winnings. It is represented by a multiplier. So, the wagering requirement is affected by the amount you choose to bet. Generally, it is unwise to claim bonuses with requirements over 40x. For deposit bonuses, the playthrough requirements often apply to both the deposit and bonus funds.
Contribution Percentages
According to the OLG, contribution percentages are percentages of each wager you make while playing eligible casino games that count towards fulfilling your wager requirement. Some casino games contribute towards your wagering requirements more than others. Slots have the highest contribution percentage (100%). Table games don’t contribute much towards your wagering requirements. Blackjack contributes 10%, roulette 10%, and other table games 5%.
Game Restrictions
Before you claim a bonus, it is important for you to know that while some games contribute towards the online casino wagering requirements, some do not at all. Generally, all slots contribute towards the wagering. Table games and live casino games have a low house edge. Most times, online casinos exclude them from contributing towards the wagering requirements. So, before you choose to play any game, ensure that it contributes to your playthrough requirement.
Time Limits
Every wagering requirement comes with time limits, which is the amount of time that casinos give you to fulfil your wagering requirements. This time limit depends on the casino you choose to play at. It would be best for you to claim bonuses that give you about 30 days to complete the wagering requirements. This is so that you do not become overwhelmed and go above your budget because you want to claim your winnings.
Tips for Meeting Wagering Requirements
Before you claim any bonus and try to meet the wagering requirements, you should remember that gambling is adult entertainment. If meeting the wagering requirements will make you go above your betting limits, then play at casinos without wagering requirements. However, we do have tips that will help you fulfil the wagering requirements and claim any potential winnings faster! Let’s talk about them.
- Bankroll Management: Knowing how to manage your bankroll is probably more important than knowing how to play a casino game. Your bankroll is the amount you have in your casino balance, or the amount of money you are ready to bet with. Every casino player should have a budget and stick to it. To manage your bankroll effectively, choose a low wagering casino bonus. A low wagering requirement means you will spend less to claim any potential winnings.
- Choosing the Right Games: Your best bet to fulfilling your wagering requirements is playing games that have higher RTPs. An RTP (return to player) percentage is the average amount of money that casino games will give back to the players over a period of time. The industry standard is 96% and everything below that is considered low. A casino game with a 97% RTP will theoretically pay you back $0.97 for every $1 you bet. An RTP can be considered as the advantage that you have over the casino. So games with higher RTPs have better-winning odds. This means you have a better chance of winning and therefore completing the wagering requirements. Another thing you should take into consideration is the house edge. The house edge is the mathematical advantage that the casino has over the player. Games with a lower house edge give you a better chance of winning and fulfilling the requirements.
- Understanding Game Contribution Percentages: Like we mentioned earlier, games contribute differently to the wagering requirements. Slot games usually contribute 100% to the wagering requirements. This is because they have a higher house edge. Table games with a lower house edge will contribute significantly less to the playthrough requirements.
- Avoiding Common Mistakes: The first common mistake that most players make is claiming bonuses without reading the terms and conditions. Reading and understanding the t&cs will let you discover the lowest wagering requirements casinos. Another common mistake players make is chasing losses. If you get a losing streak while you are trying to fulfil your wagering requirements, it would be better for you to forfeit the bonus and any winnings attached to it!
Final Thoughts
Casino bonuses are some of the most exciting things about every casino player’s journey, that is for certain. However, don’t get too excited about these ‘freebies’ because they are hardly ever completely free! Read the terms and conditions carefully and gauge whether you can fulfil the wagering requirements. If you do not meet these requirements, you will lose the bonus funds and any winnings you might have gotten. We would recommend that you choose bonuses with wagering requirements that do not go beyond 40x. Anything above that might be tricky for you to fulfil. Also, remember that our favourite sites are the best casino sites with no wagering. Check for these and start your betting journey with no hassle!