With all the incredible bonuses that online casinos offer new and regular players: welcome bonuses, deposit bonuses, free spins – FREE MONEY!
But we often forget that nothing in the world is truly free and that all these bonuses come with terms and conditions, one of the most overlooked or misunderstood being the wagering requirement.
The fact that many players ignore the not-so-hidden fine print in bonuses is well evidenced by the complaints against online casinos. The vast majority of complaints comes down to online casinos not paying out winnings or withholding winning – and most of these are because players have not understood the wagering requirements and have thus forfeited their money.
Wagering requirements are terms and conditions set by online casinos that relate to bonus offers.
Every online casino wants to attract new players and keep existing players so they offer great-sounding bonuses such as 100% match on 1st deposit. This means that if you deposit R100, the online casino will give you a ‘free’ R100 extra to play with bringing your bankroll total to R200.
Sounds great, doesn’t it?
But there is always a wagering requirement or playthrough attached. In the example above your bonus R100 may come with a 40x wagering requirement.
This means that you must bet 40x the bonus amount before you can withdraw any winnings.
R100 x 40 = R4,000: you must bet R4,000 before you can withdraw any winnings.
Changes the game a bit, right? Because now you have to play R4,000 before your winning can be withdrawn.
Online slots free spins also have wagering requirements. If, for example, you get a 50 free spins bonus with a 20x wagering requirement, it means you have to spin the reels 20x before you can claim and withdraw any winnings.
To sum up: a wagering requirement is a condition placed on bonuses where you have to bet the bonus amount a certain number of times begore you can withdraw any winnings.
An online casino offers a welcome bonus of 100% match on first deposit up to R1,000. 30x wagering requirement. Minimum deposit R100.
Meaning:
To qualify for the welcome bonus, you must deposit AT LEAST R100.
The online casino will match your deposit with a contribution of their own.
You must wager the bonus amount at least 30 times before you can claim any winnings.
Let’s say you deposit R100 to qualify for the welcome bonus. Your online casino account will reflect your R100 plus a bonus R100, giving you a total of R200 to play with.
You decide to play online slots at max bet for R10 a spin.
On your third spin you hit a R5,000 jackpot. Lucky you!
But you’ve only bet a total of R30 (R10 per spin x 3 = R30). So, you can’t withdraw those winnings. You have to play for a total of R3,000 before you can withdraw any money (R100 bonus x 30 wagering requirement = R3,000).
Most online casinos will put your winning into a ‘pending’ account until you have played through the wagering requirement and then all your money is available to you.
There are two reason for this:
1) It helps to entice players to join the online casino or to play for longer at the online casino.
2) It is a method to combat money laundering by not allowing criminals to deposit criminally-gained money into an online casino account and then immediately withdraw it as legitimate ‘winnings’
The best and easiest way to have fun and complete the wagering requirement is by playing online slots. Online slots have a very high variance which means you can win regularly but it takes a lot of playing which helps to reduce your wagering requirement.
Yes. The most common term is wagering requirement but it can also be called a playthrough or a rollover.
It’s all related to the bonus. Don’t think of the bonus as free money, think of it as an opportunity to add to your bankroll and let you try out the casino and the games with less risk. Use it to play higher bets than you normally would. Try new games. Play with it and you’ll soon learn that there are tons of ways to have fun at an online casino.
And, if you happen to hit a nice juicy jackpot, make sure you have completed the wagering requirements BEFORE you try and withdraw any money to avoid a VERY frustrating and disappointing experience of having your winnings denied!
Look for bonuses that offer low minimum deposits and low wagering requirements if you want to get to playing with your own real money faster.
Online gaming is all about having fun and, hopefully, winning a little bit of cash. But don’t ever think it can be a way of making a living. There are no strategies for guaranteeing a win, it’s completely and utterly dependent on luck so always go into a game with a fun not profit mindset!
