Online Casinos: What are Wagering Requirements?

Online Casinos: What are Wagering Requirements?

It is not infrequent that online casinos try to attract players by offering them bonuses – simply speaking, free money – that the player can use as soon as they register with the casino. However, in order not to take too high a risk, casinos tend to enforce a wagering requirement. Let us take a closer look at what it implies. blackdiamond casino

A wagering requirement (also known as a playthrough requirement) is quite often an essential element for a casino’s operations. Of course, from the point of view of a player, this is not the most appealing nuance. This is why the game page is designed in such a way that you might not even notice anything peculiar about the bonus before you try to retrieve it. Essentially, we recommended carefully studying the rules that describe the conditions under which the bonus will be given to you. It is there that you will find the information about the not-so-straightforward wagering requirement. If you cannot find it at first, look for small font on the page or check the page describing the bonus itself and the different promotions offered. uptownaces

Online Casinos: What are Wagering Requirements?

Getting to the gist of wagering requirement

So, what is it in essence? This requirement is a multiplier that represents the number of times you have to play though the offered bonus before you are able to withdraw any winnings (in some cases, together with the bonus, the rule might also concern the deposit). Normally, setting the number of playthrough times is part of risk management activities of the company. The greater the amount of the offered ‘free money’, the more probable it is that the number of times to play through will be higher. The number of playthrough times can vary greatly among different casinos – it can start at 15-20 times and reach almost 40, which is proportional to the attractiveness of a bonus. sloto cash casino

Let’s take a look at how it happens. For instance, let’s imagine a playthrough requirement implies playing the bonus through twenty times. The offered amount is equal $50, which is awarded to the player by the online casino as soon as he signs up. Let’s say you use the full amount and your deposit equals $100. In our example, the given requirement will be set as twenty times the sum of the bonus and the deposit together. Very simple calculations will show us that the bets you play through will have to first amount to $2000 (we merely multiplied $100 of the bonus and deposit by 20). When this happens, you will have met the playthrough requirement and will be able to withdraw the winnings.

Does the wagering requirement vary from one game to another?

The system of playthrough requirements is not a simple one. It is not rare for casinos to set different percentages for different games. The corresponding amounts help you eventually meet the playthrough requirement. The percentages are set independently by the casinos and vary largely across the industry. However, there are some evident tendencies – for instance, blackjack, roulette and some other games do not contribute (or contribute very little) to satisfying the requirement, whereas usually it is 100% of slots wagers bet value that counts in. One of the few exceptions in the industry are thought to be casinos using the “Clear Play Bonus System” – they rely on the Microgaming software and are said to have the same standards in place.

In order to demonstrate how this works, let us give you an example. Imagine a casino offers a bonus of $100, imposing a 20-time playthrough requirement for the player to meet. For the sake of illustration, let’s suppose the player decides to bet $30 on Slots and $20 on Blackjack, Roulette and Video Poker. In this case, we can calculate the contribution towards the playthrough requirement: 100% x $30 (Slots) + 25% x $20 (Blackjack) + 10% x $20 (Roulette) + 80% of $20 (Video Poker). By adding all of the elements, we arrive at $53 – this is the contribution that has been made towards satisfying the $2000 playthrough requirement. blacklotuscasino

*Please, note that the numbers used in the example are used here only for the sake of demonstration. Before playing, carefully read terms and conditions for the specific bonus offered by a specific casino, as they may vary greatly.

Online Casinos: What are Wagering Requirements? Updated: November 29, 2019 Author: Damon