What Are Wagering Requirements?
Are you wondering why you can't withdraw your bonus after claiming it? Well, this is probably because you have not read through the casino's wagering requirements (WR). What are the wagering requirements? If you are new to the gambling world, this article will guide you through everything you need to know about WR.
What are WRs?
A wager is typically the money or stake spent on either a casino game, an online slot, table game, poker game, or bingo game. Online casino operators attach a wagering requirement to most of their bonuses.
So, what is a wagering requirement? This is the amount of cash (a multiple of the bonus) that the online casino player must wager before being eligible to make a bonus withdrawal. The majority of casino bonuses come with several conditions that the player must meet. The conditions could be a wagering requirement, a minimum deposit, and so forth. Most beginners have trouble getting their heads around the former.
When a player signs up to an online casino, he/she might receive a welcome bonus either before or after making a deposit. The player is then asked to meet a WR before being allowed to make withdrawals on winnings made with the bonus. If the player fails to meet the casino's wagering requirements, the winnings will never become withdrawable.
At this point, it is crucial noting that some online casino games will contribute a smaller percentage towards the required WR than others. Games like roulette and blackjack will often contribute less toward the wagering requirement than slot games.
Calculating the Wagering Requirement Mathematically
From "what are wagering requirements" to "how do I calculate it." This might sound tasking, but it shouldn't take much of your time after you have understood it. To pick casino bonuses that fit your casino budget, it is essential that you understand how to calculate the WR.
Imagine you came across a great online casino and proceeded to sign up. Let's also imagine that they offered you a €60 sign-up bonus after making a minimum deposit of €20, with a WR of 5X. Here is how we work it out:
(Casino bonus) €60 X (Wagering Requirement) 5 = €300
This means that for you to make a cash withdrawal after playing the sign-up bonus, you must play a total of €300. If you have already met the WR, you must include your deposit too. In this case, it would be:
(Deposit) €20 +(Casino bonus) €60 X (Wagering Requirement) = €400
Where can I learn About a Casino's Wagering Requirement?
What are the wagering requirements for your online casino? You do not want to blindly claim casino bonuses without considering their respective wagering requirement. Thanks to the many regulations and laws that make it mandatory for casinos to allow players access to this information.
By law, every online casino operator offering a bonus must display the relevant terms and conditions (T&Cs). In the Terms and Conditions, you will find the WR and other relevant information that could potentially hinder you from making withdrawals.
Please make sure you have read through the fine print. More often than not, you will find links to either a promotions page or an informative email. If, for whatever reason, you cannot find the specific amount for the WR, contact customer support to ascertain that you understand what you are opting for.
Why Do Online Casino Apply WR?
Although it might appear unfair not being able to withdraw your winning after playing your bonus until you meet a wagering requirement, this is not a ploy by the online casino to defraud you. There are legitimate reasons why casinos impose a wagering requirement on bonuses.
The law requires casinos to place wagering requirements to comply with anti-money-laundering regulations. If these casinos did not have WRs, it would be possible for criminals to clean their "dirty" money by making deposits followed by immediate withdrawals.
Understanding Wager-Free Casino Bonuses in the UK
By wager-free bonus, we mean a casino bonus that is not subject to any wagering requirement. Many online casinos offer wager-free bonuses to new players. The beauty of this type of offer is that you can withdraw it right away, but only when the bonus is the cashable type. Some bonuses are sticky, which means that you can only play with it but can't withdraw it.
Although a wager-free bonus will not be as generous, the upside is that you do not have to make a deposit or wager a specific amount of money before withdrawing. These offers can come in the form of wager-free free spins or no deposit bonuses.
The appeal of wager-free offers is well-known to operators. It is no surprise that they will advertise these offers to lure new players to their sites. Any winning from a wager-free offer can be cashed out right away--however, some UK online casinos will request you to make a minimum deposit before cashing out.
Hoping that this blog post has been resourceful in answering the question "What are wagering requirements?"