Whether you are new to online casino bonuses or a veteran hand, you've come to the right place. CasinobonusUK.org is where you will find all there is to know about the different types of casino bonuses and their terms and conditions. Yes, every bonus comes with a set of terms that must be met in order to claim the bonus. This includes wagering requirements, which is the essential first step towards cashing out any winnings made from bonus money.
To the novice online casino player, terms like wagering requirements may sound confusing especially when you get deeper into the issue. However, fear not, we are here to help you understand all the nitty-gritty of bonuses and wagering requirements.
What Are Wagering Requirements?
To begin with, wagering requirements are also known as play-through or rollover requirements. It is the basic condition that must be met in order to withdraw winnings and in some cases, even the bonus amount itself. It is part of the fine print that must be fully understood before you think of claiming a particular bonus including a welcome bonus.
While a £1500 welcome bonus may sound lucrative what really makes it worthwhile is the wagering requirement. So let us dig deeper into what this actually means.
In simple terms it is the amount you need to bet or wager in order to claim the bonus and withdraw winnings from it.
In exchange for the bonus money the casino will mandate that you bet a specific amount of times before you place a request to withdraw winnings. Wagering requirements are usually denoted as a number and x (a multiplier).
For example, let's assume that Casino Luck, a UK friendly casino is offering a 150% match bonus up to £150 on your first deposit. The wagering requirement is 40x the bonus amount. If you deposit £20, you will receive a £30 match bonus. This means that you will have to place bets worth £30 x 20 = £600 before you can withdraw winnings. The deposit is cashable so you can withdraw your winnings plus the £30 bonus. In case of a sticky or non-cashable bonus, you can withdraw only your winnings and not the initial bonus amount.
Not all games that may be included in a bonus contribute equally towards meeting wagering requirements. For example, in the above example of Casino Luck, specific types of games contribute differently in terms of percentage towards the rollover requirements. For example, wagers on most Slots contribute 100% towards reducing wagering requirements. This means that for every £1 bet full amount of £1 will contribute towards it. Progressive jackpots contribute 50%, which means that £0.50p of every £1 will be accounted for towards wagering requirements. Likewise if Table Games and Video poker games contribute 10%, this means that £0.10p for every £1 will contribute towards reducing the wagering requirements.
Most importantly, it doesn't matter whether you win or lose, every bet will count towards meeting the requirement so that the bonus amount may be withdrawn in the case of a cashable bonus.
Wagering Requirements From An Expert's Perspective
Every casino varies when it comes to bonuses and wagering requirements. The more the bonus the larger the wagering requirements are likely to be. This can range from as low as 5x up to 100x. Some casinos may mandate that the deposit and bonus amount be wagered a specific amount of times before the bonus can be claimed while some may require that only the bonus be rolled over in order to meet the wagering requirement.
Therefore, it is important to understand the terms and conditions including wagering requirements and game contribution before claiming any type of bonus.
Applicable to all types of bonuses
Wagering requirements apply to all sorts of bonuses. This includes no deposits bonuses, free spins bonuses, match bonuses, re-load bonuses, and many other promotions and special offers a casino may offer from time to time.
Are wagering requirements legal?
Yes, they are which is why it is crucial to agree to the terms and conditions before you claim a bonus.
Why casinos impose wagering requirements?
No casino can afford to give away free money without any conditions or else they will have to shut shop overnight. This is why wagering requirements are a necessity. They are usually formulated by the casino's team of experts and based on various factors that include the size of the bonus, games involved, percentage of contribution, and more. It allows casinos to avoid the risk of bonus abuse and offset any other risks involved with offering free money. They are just like promos at supermarkets or any other stores that also come with riders.
Betting Size Limits
Most casinos restrict the amount that a player can wager per spin or per hand. This may be a fixed value such as £5 or may be based on a percentage of the bonus awarded. One of the reasons for this is to avoid players from placing large bets at once and clearing the wagering requirements in a short time. Doing so could be deemed as bonus abuse following which the player's bonus and winnings may be forfeited.
Some casinos do not impose any maximum cash out limit on match bonuses. However, some casinos limit the amount that can be withdrawn after meeting the wagering requirements. This may be applicable to some deposit bonuses in addition to free no deposit bonuses and free spins bonuses.
Where to locate the wagering requirements?
Some UK online casinos have several links to the bonus conditions on the site's home page. The most transparent casinos will have the terms and links to terms and conditions on their home page or on the main promotions page. If the terms are hard to find then our experts do not recommend that you sign up at the casino.
Keeping track of bonuses and wagering requirements
Most casinos make the task of tracking the progress of your wagering requirements easy by automatically updating and displaying your ordinary balance and the bonus balance. This is the best way to determine how much you still have to wager before cashing out the bonus. We always recommend casinos that have separate accounts for your ordinary balance and bonus balance.
How To Better The Art Of Meeting Wagering Requirements
Most players go with the flow and simply keep on playing with the hopes of finally meeting the rollover requirements and banking a few pounds. However, playing slow and steady is what our experts recommend. For example, assume that you picked a £100 bonus with a 20x wagering requirement. You will have to bet as much as £2,000 before you can cash out. In such a case you can:
- Pick a low or medium variance slot with a reasonable RTP of 96% or more and that contributes 100% towards reducing wagering requirements.
- Keep spinning the reels with 50p or lower bets.
- Make sure to stick to the same slot and bet size until you meet the wagering requirements.
- While this may not fetch you a huge fortune, you get to clear the rollover requirements and win some money as well.
So there you have it, straight from our experts. The key is to find a bonus with reasonable terms and conditions to increase our chances of winning. UK players have an excellent choice of casinos to be find right HERE.