Wagering requirements and online slot bonuses

Have you ever claimed a casino bonus and then all of a sudden when it comes to withdrawing your cash you can’t quite figure out how to actually get the money eh in your pocket? Or, maybe you are a total novice and have no clue about wagering requirements - don’t worry, that’s completely ok and you’re in the right place to learn!

You don’t have to be a mathematical whizz kid to understand wagering requirements and how to work out how you can withdraw your winnings from Star Spins so you can enjoy your hard-won cash!

What are wagering requirements?

First of all, let’s take a look at what wagering requirements are and what purpose they serve in the online gambling world.

First things first. We must first explain the concept of a wagering requirement and its role in the world of online gambling. A wager is essentially a bet, so they are sometimes called betting requirements depending on which online casino you are playing on, so just be aware that they aren’t two different things! They can be used for slot game as well as online bingo and tables games like Blackjack or Poker. The bottom line is, there is usually always a catch when it comes to betting, and it comes in the form of wagering requirements.

The requirement part of the wagering requirement dictates the number of times that players of a game will need to play the bonus money before they are allowed to actually withdraw any winnings from their online betting account. Casino bonuses are great and they are usually given to new players when you play certain promoted games or even to loyal players, but there is no escape from the wagering requirements when it comes to free online casino bonuses and if you want to financially gain from free bonuses you will need to meet the terms and conditions stipulated in the wagering requirements. This might include a minimum withdrawal limit, for example. This basically means that when you sign up to a casino as a new account holder, and you are given a welcome bonus, you won’t be able to withdraw this money straight away - otherwise, players would simply sign up and they take off with the free money - and this is no good for the casino business! So, you’re allowed to use this bonus towards certain games and fulfil a certain requirement to convert this bonus into real cash in your hand!

The good news for slots is that out of all of the games on online casinos, the casinos actually contribute the largest percentage towards the betting requirements that all other games, including Blackjack and roulette, so the wagering requirements for slots are easier to meet.

So, how do you actually calculate what the wagering requirement of a slot bonus is?! This is the less exciting stuff, so brace yourself…

The first thing to understand is why you need to know and that’s pretty simple when you know what the wagering requirement of a particular bonus is, this gives you the knowledge to be able to choose a casino bonus offer that fits perfectly and comfortably within your bankroll so that you don’t end up not being able to withdraw your prize money at the end of the game.

Here’s a scenario to consider as an example: a new online casino is all singing all dancing and attracts your attention with their tempting bonus and fun looking slot games. But you can only play if you sign up to their casino, and if you do, the casinos will also give you a nice £50 casino bonus if you make an online deposit of £10. The wagering requirement for this is x 5.

Therefore you would times the casino bonus on offer with the wagering requirement so in this case £50 x 5 = £250.

So, in order to make a cash withdrawer, you will need to bet a total of £250.

Some online casinos also require you to include your deposit amount of £10.

In this case, it would be your deposit amount + the casino bonus x the wagering amount, which would be:

£10 + £50 x 5 = £300

So where this £50 bonus may be very tempting, it’s good to understand what the wagering requirements are before you start to play the game.

Luckily regulations and laws make it so that online casinos have to be transparent about the wagering requirements so you can easily find all this information online. The moral of the story is to always read the fine print and any footers of the promotional literature and e-mail you receive from online casinos as this will detail all you need to know about the wagering requirements for specific games.

Wagering requirements really are a pain in the neck for players and can often spoil the fun, taking the shine off the bonuses that you receive, especially if you’re a new player and you get caught in the trap of not reading the fine print. But, they are there for a reason and without them, the industry would crumble. A key reason why they are in place is due to the casinos’ requirement to meet and comply with important anti-money laundering laws and regulations. If these weren’t in place, online casinos would be rife with crime and it would be a hotspot for criminals to very easily clean their illegally obtained cash by simply depositing it into an online casino account and then withdrawing it right away!

There you have it, some key information and advice on wagering requirements and some insight into online slot bonuses. Now you know what a wagering requirement is, you’ll know that before you accept a tempting offer that nothing is really for free and comes with conditions! But it’s also important to point out that you can still be getting a great deal as long as it meets up with your bankroll and what you were prepared to wager initially. Not all online casinos are the same and all have varying different wagering requirements to suit different bankrolls, so there’s something there for every player!

This article does not necessarily reflect the opinions of the editors or management of EconoTimes