Online Casino Bonus Wagering Requirements
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At Spin247, there are wagering requirements that apply to any bonus credit you receive from us. This is something that most online casinos have in place, but it can sometimes be difficult to understand. With that in mind, we’ve put together a guide to Spin247’s wagering requirements to. At Spin247, there are wagering requirements that apply to any bonus credit you receive from us. This is something that most online casinos have in place, but it can sometimes be difficult to understand. With that in mind, we’ve put together a guide to Spin247’s wagering requirements to make everything clear and straightforward.
Our pick of the best online casino sites without wagering requirements. A generous bonus doesn't necessarily make a good online casino. Casino bonuses serve the purpose of attracting new players, and encouraging players to make deposits; they aren't an indication of whether the casino is better than the next or not. Give thought to the casino.
One of the toughest jobs in online casino must be customer services. Service reps encounter the extreme end of emotions during a Shift. In between general enquiries, they will receive calls from players who have won and want to know why it's going to take so long before they can withdraw their winnings. At the other end of the scale, they will speak to punters who have lost considerable sums and are just plain angry. Occasionally, they will talk to customers who have accepted a casino bonus without fully understanding the requirements. If you were a fly on the wall, you might just stumble upon a live chat that goes something like this:
Giasemi
hello why can’t I withdraw my money? It says that I have an active bonus
Glenn - Support
Hi Giasemi
A bonus must be wagered 35 times before you can make any withdrawals, as is the rules of bonus usage. You must wager 35 times deposit + bonus. You can follow how much is left on your account menu. The amounts you see are multiplied 35 times to know what is left.
Giasemi
i dont understand
i did not ask to attach bonus to my profile
i made a deposit and i won why i can’t take my win? because of this bonus?
Free Spins No Wagering Requirements
Glenn - Support
You have selected yes want to continue with a bonus when you made the deposit.
Yes bonus must be wagered, not possible to make withdrawals without this being done first.
Giasemi
how i can use bonus? i should lose my money first?
Glenn - Support
You cannot use it unless you lose cash deposit, if that does not happen then you will wager the bonus until the money converts into real cash. Then you will be free to withdraw whatever remaining amount that you have on the account.
Giasemi
so is not reason to make big deposit because you have to play more money
Glenn - Support
Just play as normally, win or lose, every bet counts towards the wagering.
These are not my words. This is a transcript of an actual conversation that occurred between a customer service rep and a confused customer. This kind of misunderstand (so I'm reliably informed) happens frequently. And it happens for one of three reasons.
The player did not read the terms and conditions attached to the casino bonus.
The player did read the terms and conditions, knew there was a wagering requirement attached, but didn’t understand what it meant.
The player fully understood the wagering requirement but didn’t calculate the implications before making a deposit.
It would be difficult not to notice the big bonuses online casinos offer to win new business. One such reward, and usually the biggest, is the welcome bonus or new player bonus as it is sometimes called. This type of bonus is offered to entice new customers. Some casinos advertise ‘FREE BONUSES’ for as much as £/€/$1,000 and sometimes more.
To be clear, this is not the same as £/€/$1,000 free money. Casinos are not going to give you free money. You can't just use it to take a few spins on a slot machine and withdraw. Almost all casino bonuses and promotions come with a wagering requirement to prevent this from happening. If you don't know what a wagering requirement is you should read on because this affects everyone who plays online casino games for real money.
Wagering Requirements in Plain English
In plain terms, a wagering requirement is simply the number of times a player must play through a bonus before it is considered cash you can withdraw. To keep perspective, it is a good idea not to even look at it as real money. Until it is played through X number of times, it is not real money you can withdraw at all. In this respect, it is sometimes better to consider it monopoly cash until you have wagered it enough times.
A wagering requirement is attached to almost every casino bonus and promotion. The size of the wagering requirement (X) varies, it can be as small as X5, or as much as X60. Much depends on the casino's policies and the type of bonus. To further complicate the issue, some games are weighted differently. For example, slots may contribute 100% towards meeting the wagering requirement, but table games might only contribute 20%. This brings us to another important point to keep in mind. Just because a casino applies a reasonable X25 wagering requirement to the welcome bonus, this doesn't mean it will be the same on every bonus or promotion the casino offers. For this reason, we strongly advise that you read the terms and conditions for each one you accept.
The key takeaway to remember is free bonuses are not dollars in your pocket until it has been wagered (risked) it enough times.
How do you Calculate a Wagering Requirement?
Many people get the general idea of wagering requirements, but don't want to deal with the maths. That's understandable. But it's not as complicated as it sounds and if you are going to risk your money, you really ought to know it. So here are a few simple examples:
Example 1
Casino Bonus = £/€/$50
Wagering Requirement = X25
50 X 25 = 1,250
Therefore, you must wager a total of £/€/$1,250, and after this, it becomes real cash you can withdraw.
Simples right?
Now let’s look at another example.
Example 2
Casino Bonus = £/€/$50
+ Plus money you have deposited = £/€/$50
Wagering Requirement = X25
50 + 50 X25 = £/€/$2,500
Notice in example 2 that the money you have personally deposited is combined with the casino deposit before it is multiplied by the wagering requirement. This is why you should read the T&C's attached before you make a deposit and accept a casino bonus. In example 2, you would have to wager twice as much before you can make a withdrawal.
How do Deposit Bonuses Work?
This small detail can make a big difference. It is worth noting that many welcome bonuses are given in stages, meaning a welcome bonus of £/€/$1,500 may be split over three deposits of £/€/$500. Typically, casinos will offer to match your deposit by a certain percentage. When a casino advertises 100% match bonus up to £/€/$ 500, this means they will give you the same amount in bonus for every 500 real currency units deposited.
Our friend Giasemi deposited 20 currency units, won and wanted to withdraw her winnings. she didn't realise that she could not withdraw winnings because her deposit was attached to a casino bonus. Her initial deposit of £/€/$20 now has to be wagered X35 (instead of X1) before she can bank it, which in this case equals £/€/$ 700, plus the bonus.
Should I Accept a Casino Bonus?
Now you understand wagering requirements, you might be wondering if you want a bonus at all. Despite their drawbacks, there are still valid reasons why some players love a generous casino bonus, even if they do come with strings attached. First of all, they give players more time to play with something at stake. That's more time to get familiar with different games and more chances to win big. Consider the benefits of landing a sizeable win early. It gives you a lot of playing time in the knowledge that much of the winnings could end up in your bank account. Also, many bonuses are bundled together with things like free spins on the slots. Everyone likes a free spin bonus. Also, if you stick to playing bonus credit on games with a low casino edge, like blackjack, baccarat or video poker, for instance, your chances of winning increases.
Final Conclusions
The situation Giasemi found herself in is not entirely uncommon. Many people accept casino bonuses with the notion it is free casino cash they can withdraw whenever they want. This is not true. It is a credit you have to play and win multiple times before it becomes real withdrawable money. This doesn’t make them a bad thing and you still have a chance of making money. But it is very important you read the terms and conditions and familiarise yourself with the wagering requirements attach to every bonus offer. If you are still not sure what you need to do before you can withdraw after reading the T’s & C’s, we recommend you speak to customer services. They will break it down in simple language. When you fully understand what is required to profit, you are in a position to make an informed decision that’s right for you.
Wagering & Playthrough Requirements
By: CasinoAdvisor.com, Wednesday June 4th 2008Due to the generosity of online casinos who offer players essentially free money in exchange for their signing up and playing and or patronage to an online casino it is necessary for casinos online to apply what's know as wagering or playthough requirements. These requirements are structured and in place to offset the risk that a casino takes by offering bonuses to it's players.
Wagering / Playthough requirements often times are not the most obvious as it's not one of the more attractive parts of the offering provided by casinos but none the less required. It's because of this that they are often times tucked away and not so obvious to find. The most important thing to keep in mind if you're evaluating a bonus at a casino you'd like to play at are the terms and conditions for that bonus which will include details on the wagering / playthough requirement for the particular bonus. Usually the link to the section that within a casino site that will provide the conditions of the bonus will be in either the promotions / bonus page of the casino site or alternatively somewhere below where there is mention of the bonus.
So what exactly is a wagering requirement?
A wagering requirement is a number that represents the number of times you have to playthough either the bonus or the bonus + the deposit at an online casino before you are eligible to cash out. The number that represents the amount of playthough required for a bonus is typically assigned by the risk management team representing the casino. Generally the more generous the bonus, or if it's too good to be true it's likely that they will have imposed a larger wagering requirement for the bonus. Playthrough requirements can range between 15x for the less strict bonuses and up to 40x for the more strict bonuses.
Example:
Let's say the wagering requirement is 20x and the bonus being offered is a 100% match bonus up to $100 free at an online casino and let's say that for the sake of this example you take advantage of the full $100 bonus and so you've deposited $200. Also let's say that the playthrough is 20x your deposit + your bonus.
- Calculation: $200 x 20 = $4000
So in the above example you will have to playthough $4000 worth of bets before you'd meet the wagering requirements for the bonus and be eligible to cash out.
Are there different wagering / playthough requirements for different games?
This is where things get a bit more complicated. Often times casinos will place different percentages on specific games that account for the contribution to meet the wagering requirements. Typically slots wagers will count for 100% of their bet value towards the play through requirement but other games like blackjack & roulette may not count at all or count for very little towards meeting the requirement. The percentages of the contributions for various games at casinos for their bonuses will often times vary and it not overly consistent in the industry. It is however believed that casinos powered by Microgaming software that utilize the 'Clear Play Bonus System' do have standards that are consistent across all casinos powered by their software.
Example:
Let's say the player receives a bonus of $100 with a 20x wagering / playthough requirement at the casino.
He/She then proceeds to bet the following amounts on the following games $30 on Slots, $20 on Video Poker, $20 on Blackjack and $20 on Roulette.
The total amount of the contribution for the wagering requirement would be as follows (note: that this is just an example and that before playing be sure to review the casinos terms and conditions for the bonus so as to know exactly how much each game contributes to your meeting the wagering requirement):
- Contributions: 100% of $30 (Slots) + 80% of $20 (Video Poker) + 10% of $20 (Blackjack) + 25% of $20 (Roulette)
So $30 + $16 + $2 + $5 = $53 has been wagered towards meeting the $2000 wagering requirement.
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Add CommentToo much work is often time needed to figure this stuff out it should all realistically be very straight forward.
Good article guys and way to explain wagering requirements to players I like seeing this kind of thing and knowing that people have an easy way to research this information. I know that for me personally that I've found a lot of value in the information that's presented here on the site.
As a general rule of thumb it's worth avoiding online casinos that have wagering requirements that are in excess of say 50x the deposit and bonus amount combined of course it also depending on the percentage match of the bonus for a 100% bonus this would be the case but for other bonuses such as those where they say offer 200%+ then it's not so bad.
I've always found that wagering requirements are kind of silly and a waste of time to try to interpret as you're playing at online casinos. It's my belief that casinos that do it best are those out there that separate cash and bonus balances so that you essentially always know what you're doing.
I've always thought wagering requirements to be dumb and not necessary but I do truly believe that they server a purpose and more then that have an immense amount of value for protecting the casinos. It's not always good for us players but in the end they're manageable.
Wagering requirements although kind of stupid so make more sense to me know that they're fully understood. When I first started playing at online casinos I really didn't understand what it was all about and why they were needed. I do understand now though and although I think that they're still kinda stupid and all in favor of the casino that they are put into place to protect the casino from bonus abusers.
Sometimes that wagering requirements that are set out by online casinos are ridiculous and really hard to ever even meet. Be sure you fully read the terms and conditions of the bonuses that you take before you do even if it requires a bit of time to read though all their legal gibberish.
Wagering requirements make sense and are OK with me as I know they're designed to protect the casino from fraud but make it easy for players for the love of god. I think that some online casinos need to ease up on their wagering requirements as sometimes they're virtually impossible to reach and this totally isn't something that I agree with!
I really hate having to follow wagering requirements so I always prefer it when online casinos simply do the math for you and separate the two balances. This method of doing thing's just makes it far more clear to players like ourselves.
Online Casino Bonus Wagering Requirements
I fully understand why online casinos have wagering requirements but the way that most of them deal with it is pretty primitive if you ask me. I beleive that if they were to implement a more simple means of dealing with bonuses and withdrawals / cashouts after bonuses have been claimed by players would be beneficial and help keep players around for longer rather then having them flippy floppy between different online casinos!
Make sure that wherever you play that you fully understand the casinos terms. If you're playing at a casino that offers something similar to Microgaming's clear play bonus system where they transfer funds from your bonus balance to your cash balance as you play it's not nearly as important but still at the same time you should have a good clear picture of how wagering requirements work. Also if you are playing at a casino that supports the kind of bonus system that I mentioned you should know that there is different contributions for different games for the transference of the balance.
If there's one thing I've learned about playing at online casinos it's that it's always key to know the wagering requirements of the casino that you're playing at well. Lucky thing is that now a days most of the online casinos make it rather clear by separating out your bonus balance and cash balance into two separate values. It's a much better system and way of dealing with it and it sort of eliminates a lot of the ambiguity in wagering requirements in general.
Wagering requirements are a pain in the but especially when online casinos don't really separate their bonus balance and cash balance. The way that Wizard, Microgaming, and Vegas Technology do this is much better IMHO.
If there's one piece of advice that every player who indulges in playing at online casinos it's that knowing and understanding the wagering requirements of any bonuses that you take advantage of before playing will save you a ton of hassles and headaches. Just as an FYI be sure that you go though them and if you have questions post a question on a message board or alternatively contact the online casinos customer support team for assistance.
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