Online Casino Bonus Wagering Requirements: What are They?
It’s nowadays a tradition for online casinos to offers gamers bonuses for depositing cash into their casino account, or for signing up at the casino as a new member. The popular types of bonuses include deposit bonuses, match bonuses, and no deposit bonuses where the casino gives you free cash to wager with.
Due to the extensive abuse of the bonus system in the early days of online casinos that ended up costing them huge sums of cash, wagering (playthrough) requirements were introduced. Why? This was to make up for the huge financial risk the casinos were taking by offering the bonuses. Even though playthrough requirements are essential to protect the casinos from fraud, they don’t affect honest gamers who join the online casino for entertainment. So, as long as you aim to claim an offer genuinely, you shouldn’t be really worried about wagering requirements because, in the end, it’s a win-win for both you and the casino.
What are Wagering Requirements?
Wagering or playthrough requirements are a value or limit set by an online casino that indicates the number of times a given bonus must be wagered (played through). It could be set for the bonus cash you receive alone or the bonus cash together with the initial deposit that you loaded. Therefore, the value of the wagering requirement is usually a multiple of the initial deposit, the bonus, or both the deposit and bonus.
Without fulfilling the wagering requirements, you won’t be able to cash out your winnings. Wagering or playthrough requirements can also be called Rollover requirements. The actual multiple of wagering requirements ranges from as low as 5x to even 50x. The value varies in various online casinos. The wagering requirements are normally included in the casino standard terms and conditions, and to be in a better position of grabbing your reward, ensure you read them cautiously to comprehend
How Does a Wagering Requirement Work?
Let’s say, for instance, you’ve accepted a 100% match deposit bonus of up to $200. Then you make an initial deposit of $50 and receive an extra $50. However, the bonus has a 20x playthrough requirement on the bonus cash attached to it. What does this mean?
Well, this implies you should wager your $50 bonus 20 times, which sums up to $1,000 (20×50=1000). Thus, all your bets must total to $1,000 before you’re allowed to withdraw your winnings. The same formula apply if the initial deposit plus the bonus amount you received was to be wagered.
Sometimes, things get a little more complex. Some online casinos assigned contribution percentage to the eligible games. The percentage shows what quantity of every bet you place contributes towards your playthrough requirement.
For instance, pokie machines games are normally worth 100%; hence every wager you place takes you nearer to meeting the target. Other casinos games like roulette normally have much lesser percentages. If for instance, the roulette percentage was 20%, then each wager of $100 would only contribute $20 for clearing bonus rollover requirement. Thus, you are better off spending your bonus money on pokies than any other game available in the lobby.
Again, we insist that you take time to know the wagering requirements of an Australian online casino before signing for a real money account. The lower they are, the better.