With hundreds of online casinos offering the moon on a stick, it can be hard to know what is a generous bonus and what is too good to be true.
For instance, you might be understandably tempted by offers stating ‘500% up to £1,000’ or ‘600% Welcome Bonus’, but not really understand the small print attached to such attractive offerings.
In this guide, we at Casino-Bonus.me.uk explain what wagering requirements are and why they are important to understand before claiming a bonus. You can find our list of recommended casino bonuses at our homepage.
What is a Wagering Requirement?
As we touched on, a wagering requirement is a prerequisite set out by the online casino with respect to a bonus. As you likely know, a ‘wager’ is an amount of money or a stake – which is used to bet and gamble.
For instance, you might wager £20 on your favourite new slot or live dealer Blackjack game.
You must bet the amount specified by the casino platform – before you can collect any winnings or request a withdrawal on your bonus amount. The wagering requirement is generally displayed as a multiple, so you need to stake the value of the bonus a specific amount of times.
How do Wagering Requirements Work?
The best way to further explain wagering requirements is with a practical example.
- Let’s say the online casino is offering a £20 no deposit welcome bonus – the wagering requirement is 40x
- This means that you need to bet £800 on the platform before you can get your hands on any winnings
- You can easily calculate any wagering requirements yourself
- Simply multiply your stake/wager by the stipulated wagering requirement – in this scenario 20 x 40 = 800
Importantly, using the example above – this does not mean that you need to make an £800 deposit at the casino. It simply means that before you may withdraw – you must wager the specified amount on betting on the platform.
The majority of online casinos will allow for bonus money to count toward the wagering requirements. Crucially, such conditions are applicable for all players, not just newbies. With that said, you will often find that different games have different conditions attached.
Match Deposit Bonuses
Now let’s explain how a matched deposit bonus works with the same wagering requirement.
- You are given a £50 match deposit welcome bonus
- The wagering requirement is still 40x
- Consequently, you must wager £2,000 in this scenario – before accessing your winnings (50 x 40)
As you can see, the amazing bonus on offer might not seem so great if you realise you need to wager a large amount to cash out your winnings.
Bonus Alternatives
Whilst there are heaps of wagering casinos, there are also platforms thinking outside the box. By this, we mean that not every online casino has a high wagering requirement in place before you can access your winnings.
Wager-Free Bonuses
Things to note about wager free bonuses are that, although there will be fewer conditions attached to the bonus, the chances are that what’s on offer will be a much lesser amount. With that said, the plus is that you can withdraw any winnings when you like (check the minimum withdrawal amount though).
Low-Wagering Bonuses
This brings us smoothly onto low-wagering bonuses, which are perfect for players with a small bankroll. This type of bonus enables you to make the most of the freebie – without having to bet say 50 times its value.
Low-wagering bonuses tend to be around 5x or 10x. As such, in the first example that we gave, instead of needing to wager £800 you would only have to bet £100 or £200 to withdraw your bonus funds.
Free-Spin Bonuses
You won’t have to look far to find an online casino offering free-spin bonuses. Here the wagering requirement will be in reference to any winnings received from the bonus spins.
For instance:
- Let’s say you are given 100 free spins as a bonus, with a wagering requirement of 30x
- Next, you win £10 via your freebie
- You need to bet £300 in total to withdraw your winnings
- The calculation is your winnings of £10 x 30
We at casino-bonus.me.uk find that the majority of free-spin bonuses come with a wagering requirement of at least 30x. But, we also come across casinos offering much more favorable terms – so keep checking back to our website for the best offers and promotions!
Bonuses: Read the Small Print
Always read the small print top to bottom on the bonus in question. The site might stipulate that only one person from any one household is able to claim the bonus.
Another commonly seen requirement is that the bonus itself must be used within a specific timeframe. For example, 7 days or a month in some cases.
To give you an idea of what to expect, check out some of the more commonly seen wagering requirement terms below:
- Maximum Bonuses: some online casinos specify a maximum bet amount on bonuses. This means that if you wager more than is specified, you either won’t be entitled to your bonus, or the requirements will change regarding your remaining balance.
- Gamble Bonuses: the gamble feature enables you to double, or even triple your winnings. This is often done during gameplay, or at the end of the game. Be aware that this might lead to you losing everything, should it not go your way.
- Forfeitable Bonuses: there are instances where you will be allowed to bet your own money on a game prior to dipping into the bonus. Bear in mind that in this instance you may be required to give up your bonus first.
As we’ve touched on throughout, it’s important to be aware of any specific wagering requirements rather than simply being dazzled by the amazing bonuses on offer.
Selecting your Online Casino Game
Something you may notice when doing your homework on wagering requirements is that playing certain games will not count towards it. Furthermore, you will usually see in the fine print that some games contribute more to the wagering conditions than others.
For instance, the online casino might say that any slot titles you play will contribute 100% to the requirements, whereas table games might only put 5% towards. In other words, if you are playing Blackjack at £2 per hand for 5 games – only 50p counts towards your wager, instead of £10.
Look Past the Bonuses on Offer
As well as the amount you need to wager to get your hands on any bonus winnings, you need to check other important factors. For instance, it’s always worth looking at what the variance on the game in question is.
Another important thing to check is the RTP (Return to Player Percentage) – comparable to an average payout amount. The RTP on most online casinos is above 95% and is calculated based on at least 1 million plays.
Don’t be Afraid to Shop Around
You might be wondering why there are requirements set out in the first place, given that you are staking your own money? At the end of the day, the online casino is a business.
With that in mind, it’s important that you aren’t afraid to shop around. For instance, you might really like the bonus and the website – but the wagering requirement renders it out of your budget. Or you might find that the conditions laid out aren’t suitable for your particular playing style.
Online Casino Bonuses Requirements: The Bottom Line
There are hundreds of online casinos out there just waiting to offer you a great bonus. If you are just playing for your own entertainment, you might not be bothered by wagering requirements.
With that said, it’s always good to be aware of these things before committing to a casino. With wagering, low-wagering, wager-free, and free-spin bonuses – you won’t be short of options when it comes to finding a bonus you can have fun with.
