What is Wagering?
The short definition for Wagering is simply another word for betting. A wager is any amount of money or in some rare situations, an item or service, which the bettor stakes on the possible outcome. This can be either against another player or against the house and sometimes both. The wager/bet can be placed on sports matches, entertainment events, roulette spins or a dice roll among other expected outcomes. If the picked competitor wins, the bet/wager and the winning stake are all returned to the player. Wagering is mostly done in formal casino or bookmaker settings, but can also take place in an informal way. For example, in a friends` challenge with a reward or a forfeit.
Though wagers can be any amounts, some games like slots and poker have a set minimum and maximum wagers for every turn. After each wager, the odds of events against which the wager was placed against will determine the amount the player gets in return. As a result, the odds usually vary dramatically and this is why various players design different wagering strategies while considering things such as statistical analysis and the betting systems.
Wagering Requirements at Online Casinos
All players love casino bonuses. However, not all players care to read the small print that mentions the catch. I understand bonuses are great when you want to get bankrolled. But often, there are strings attached, some of which might be difficult to split.
Online casinos have legitimate reasons to tie bonuses to wagering requirements that must be met to convert pending funds to cashable money. This is a necessary evil put in place to curb money laundering, comply with the regulations and keep up with a market where licensing and taxes pose cost challenges.
Nevertheless, there’s no reason why playing through the bonus should be a task less feasible. Putting my years of experience in online gambling, I’ll show you casinos where wagering requirements are easy to meet and most profitable.
Casinos with best wagering requirements – don’t miss out!
- Deposit bonus
- 100% up to £100
- X20 wagering (deposit + bonus)
Bethard Wagering requirements
Low wagering requirement is the primary highlight of Bethard casino. Deposits and bonuses need to be played through 20 times before a withdrawal can be requested. If I am a new player signing up and depositing £100, Bethard would double the amount so I have £200 to play with.
Now, if I am to cash out the amount, I’d have to play it through 200 X 20 = £4000 first. Let’s assume I play a 99% RTP slot game that contributes 100% to the wagering and gives me £99 for every £100 I bet.
Over time, I would get back £3960 and lose £40 in my attempt at meeting the wagering requirement. However, my average profit would be 200 – 40 = £160.
- Deposit bonus
- 100% up to £100
- X30 wagering (bonus)
888casino Wagering requirements
I appreciate 888casino for being an old player and still not letting success go to the head. This is evident in its leniency regarding the welcome bonus. When you sign up at 888casino and make a deposit, you would receive a 100% match bonus of up to £100, which is tied to a wagering requirement of X30.
Wondering how this is profitable? Let’s say you make a deposit of £100 and get another £100 as bonus credit. 888casino says players need to wager only the bonus amount. Thus, you would have to play your £100 through 100 X 30 = £3000 to cash it out.
Now, if you play a slot game with a perfect RTP of 99% for every spin, you will get back 99% of the £3000 you wager, which amounts to £2970. This implies you will lose 3000 – 2970 = £30 on an average while clearing the wagering requirements and trying to claim your £100 winnings. Your average profit will be 100 – 30 = £70.
The best part is the welcome offer is available for multiple games on 888casino and you will have a 90-days window to meet the wagering requirements. Moreover, the deposit balance is available for withdrawal at any time, which is a huge plus point.
New players only. Offer only valid on a players 1st deposit at Wink slots. Min deposit £10 to get 100% bonus (max £100) + 30 free spins (FS). FS available on specific games for 7 days. FS wins are granted in games bonus after all FS are used. Bonus wins capped at £400. To withdraw games bonus and related wins, wager 30 x the amount of bonus. Wagering req. vary by game. Deposit balance can be withdrawn at any time. T&Cs apply.
- No deposit & Deposit bonus
- 100% up to £100 + 30 Free Spins
- X30 wagering (deposit + bonus)
Wink slots Wagering requirements
Wink Slots offers a no deposit bonus of 30 Free Spins as well as a deposit match bonus of 100% up to £100 + 30 Free Spins. The wagering requirement is X30 on the winnings from Free Spins and the deposit + match bonus amount.
Let me explain why this is a good deal. When you register with Wink Slots and verify your account, you’d receive 30 Free Spins straight away. Let’s assume you win £100 from the Free Spins.
Technically, this is the bonus amount Wink Slots has offered you to boost your bankroll without you putting in any money. You need to play it through 100 X 30 = £3000 more before you can cash out your winnings.
If we go by the aforementioned logic of playing a slot game with 99% RTP, you would receive £2970 when you wager £3000. The average loss would be £30 and you would eventually make a profit of £70.
The same is true for the match bonus. If you deposit £100, you would receive another £100, which you would need to play through 30 X (100 + 100) = £6000. Using the same logic, you will be returned £5940 if you play a slot game with 99% RTP. Your average loss will be 6000 – 5970 = £30 and you will eventually end up with a profit of 200 – 30 = £170.
Online Casino Wagering Requirements
Almost all online casinos these days offer their new players various kinds of bonuses when they join the casino and deposit money that is intended to be used for playing in the casino account. The most popular types of bonuses are the No Deposit Bonuses in which the player receives free cash to play at the casino and the Match Bonus in which the player is rewarded with a double of the amount they deposit into the casino account. All these bonuses are tactics used to encourage players to gamble and participate in all the games on offer.
However, during the older days of online casinos, there was widespread abuse of these bonuses and this ended up costing the casino industry large amounts of money. A lot of players would fraudulently open many accounts to acquire the signup bonuses would then cash them out immediately. In order to offset the big financial risk that these casinos were going through while offering bonuses to their players, they had to introduce a set of rules dubbed Wagering or Playthrough Requirements. Online casino wagering requirements may not be popular, but they serve a major purpose in protecting casinos from fraudsters. These requirements have no effect on genuine players visiting the casinos for fun.
Generally, the online casino wagering requirements are the restrictions and circles that every player has to jump through to get their hands on the bonus awarded, this includes all the winnings that come from the bonus. The playthrough will dictate the amount of money you have to stake for the bonus and profits gained to be activated. The good thing is that the wagering requirements are usually lower for free bets and sports bonuses. Moreover, most of the wagering requirements are usually accompanied by the terms & conditions list. It is therefore important for a player to be acquainted with both the conditions and requirements since they offer an exact outline of what is needed for one to secure their free bets or bonus.
The most famous Playthrough or Wagering calculation used in bonuses involves a multiple of the first amount of money deposited being played through or wagered before the player cashes out their winnings. The multiple used varies from one casino to the other. This, therefore, means that the players have to read and understand the wagering requirements of every casino to understand how they work, especially when looking for the best bonuses.
An Example of Wagering Calculation
Let`s say, for example, that you choose a deposit bonus granting you a 100% welcome bonus of up to £200. Take note, however, that the phrase “up to” means that it could be less. The amount offered relies on your initial amount deposited, therefore, if you fund your account with £100, you get a £100 bonus. This and other details are exactly what you will find outlined in the terms and conditions section.
So, in the next example, the following would be the requirements for withdrawing the bonus if you deposited a sum of £500:
You are given a £500 bonus.
The condition is 3x deposit and the bonus amount wagering requirements are listed in the T&C’s.
This means you have to stake £3000 to unleash your bonus money.
All the winnings plus the bonus will then be relocated to your account balance of which you will have the option to continue betting or withdraw.
Tiered wagering requirements
A gambling site may put in place the tiered wagering requirement – the wagering requirement which consists of a staggering collection of payments. A good example is as follows:
- Time Limit – 5 Days, Requirements – £20, The Bonus – £20
- Time Limit – 20 Days, Requirements – £250, The Bonus – £30
- Time Limit – 30 Days, Requirements – £500, The Bonus – £50
The tiered wagering requirement makes it seem a little different, but the eventual bottom line is that the player has to wager a principal total of £500 in one month of opening their account before accessing the £100 worth of bonuses in total. This might be easier for you to work on since you play in small amounts but at the end, the financials remain the same.
No Wagering Casinos and No Wagering Slots
Even though most casinos it is a common requirement to place wagering requirements, some casinos have none. No wagering casinos, also called wagerless casinos are online casinos that usually offer customers different bonuses and promotions among other offers without the need for any wagering requirements before the player withdraws their casino winnings. No wagering slots work the same way.
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