Thursday 11 July 2013

What are wagering requirements on an online casino bonus?

Sometimes we get new players that have no clue what wagering requirements are. They get all excited when they hear we have good promotions but then become offended when we tell them that there’s a condition that prevents them from withdrawing the money after a few lucky spins.

Wagering requirements are necessary to prevent fraud. Any online casino is pouring out hundreds of thousands of euros a month in promotion money. This actually costs the casino quite a bit because the money is played and sometimes lost in the games, affecting the payout rates. As we’ve explained before, the casino makes a small percentage of every bet in the long run. But when half of this money comes from promotions, then the online casino only sees a fraction of that small percentage.

Wagering requirements are then the amount of money you must risk or wager on the appointed games prior to requesting a cash out. It is quite simple. Imagine receiving a 100% bonus on a $100 deposit. That will give you $100 in bonus money for a total balance of $200. The wagering requirements, also known as the playthrough, will be given as a number such as: 20x. This means that the total amount of $200 must be multiplied by 20 for a total of $4000. The wagering requirement then is to wager $4000 on the allowed games prior to a cash out. A wager is simply the amount of money you bet on each spin, when you play a fruit machine for example. So if you are betting $1 a spin, you will need 4000 spins to complete or fulfill the wagering requirement.

We understand the wagering requirements may be intimidating to some players. That’s why we try to keep them in reasonable terms. Some weeks, like the current one, we reduce our wagering requirements on all bonuses by at least 20%.  For example, we have a 144% Weekly match this week for active players. Normally a bonus like this would carry 24x wagering requirement, but this week it has only 18x. Plus, it does not carry any maximum withdrawal limit. Whatever the player wins can be cashed out.

1 comment:

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