How Do Online Casino Wagering Requirements Work?

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Every online casino is different. From the visuals to the games included, there’s a lot of variation on the web. That’s not necessarily a bad thing, it can be quite beneficial for the player base as there are plenty of options available that can help every punter find something that appeals to their playstyle and preferences.

Either way, it’s very likely that every casino you come across has certain wagering requirements you may comply with to be able to play at that particular casino. 

Wagering requirements limit certain things. For instance, you may not be able to withdraw your earnings unless you reach the minimum. If you’re not familiar with this term, let us explain the essentials of this concept. This way, you can find a casino with a good offer.

What are wagering requirements?

As suggested in the introduction, a wagering requirement is the amount of money you need to accumulate before you can withdraw your funds to your bank account, e-wallet or any other payment method you may be using, and the casino has available. 

You’re required to fulfil the wagering requirements so that you can withdraw your bonus money. Otherwise, you will be unable to request a withdrawal and will be unable to turn it into real money.

It’s worth noting that you can’t avoid wagering requirements, at least most of the time. If you don’t want to deal with them, perhaps you can choose to ignore your bonus, but it’s not a good idea since a bonus can help you boost your bankroll and may give you better chances to win in the long run. Hence, you might be able to withdraw your money sooner than you expect.

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Understanding how wagering requirements work 

Now that we know the basics let’s see how wagering requirements work. As mentioned, wagering requirements refer to how much you must bet so that you can withdraw the money you’ve accumulated in your account. Hence, let’s say that you have $100 in your account, but $40 is bonus funds. You won’t be able to cash out your money unless you fulfil the wagering requirement.

The wagering requirement varies depending on the casino. It can be 1x or 5x. You’re required to wager the bonus funds the number of times the casino dictates. Then, you will be able to withdraw such funds and turn them into real money.

For example:

You’ve wagered $50 in your favourite sportsbook. Then, the platform refunded you the same amount of money with a wagering requirement of 1x. That means you must bet those free betting credits at least one time for you to be able to turn them into real money.

Casinos apply the same concept to slots, although the number is typically higher. Plus, when it comes to slot games, free bets may also be tied to certain requirements, which can be different in every casino. For instance, you might be required to deposit a particular amount of money so that you can withdraw the bonus they’ve granted.

Calculate your wagering requirements 

It’s very easy to calculate your wagering requirements. All you need to do is follow a formula where you multiply your bonus amount by the wagering requirement, and the result will be your total bet. In other words, it may look like this:

Bonus amount × Wagering requirement = Total bet

Let’s continue with the example given above. You’ve deposited $50 in your preferred online casino, and then you receive a deposit bonus for the same amount, but it is tied to a wagering requirement of 20X. Hence, the formula would be:

$50 × 20 = $1,000

In addition, some casinos also grant what is known as a “sticky bonus,” which also includes your initial deposit. Hence, the formula is altered to include your deposit.

(Bonus amount + Initial deposit) × Wagering requirement = Total bet

If we continue with the example given above, the formula will end up being as follows:

($50 + $50) × 20 = $2,000

The numbers are high and quite attractive, and meeting them isn’t necessarily overly complicated. Plus, keep in mind that you’ll be able to use the bonus money to make wagers. If you bet smartly, you might be able to fulfil the requirements and have some extra money when it’s time to withdraw.

If you don’t like math, you can always use online calculators to figure out your wagering requirements and make it easier. This way, you’d also be eliminating the error margin, and you’ll know how much you should bet.

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Other wagering requirements to know (Terms and Conditions)

Wagering requirements are typically tied to additional terms and conditions. While these can vary from casino to casino, it’s recommended to know the most common examples so you can make the most of your betting journey.

Minimum odds

It’s very usual for the eligible bets to possess odds between -300 and -250, sometimes a bit longer. A -200 line would contribute to the wagering requirements established, but odds of -350 wouldn’t. 

Only winnings paid 

Sometimes, online casinos may have as a rule that you’ll only be able to cash out the winnings, as the wager won’t be returned to you. Whenever you bet with real money, you’ll receive your wager and winnings whenever you win. 

Time limit

It’s also very common for casinos to put certain limits on their offers. For instance, some bonuses may only be available within a particular period, which can vary in different casinos or bookies. Once the period is over, the platform will revoke the bonus funds, and you won’t be able to use them anymore.

Conclusion 

Wagering requirements aren’t complicated to understand, but it’s important always to keep them in mind whenever you are betting on any platform. This way, you can have an overall idea of how you’ll be able to turn the bonus money into real money. It’s relatively easy, and most casinos are pretty transparent with the norms applied to the casino bonus money. Make sure to read them thoroughly before you start betting.

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