How Do Online Casino Wagering Requirements Work
- How Do Online Casino Wagering Requirements Work From Home
- Best Online Wagering Sites
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- That means it does not apply to any deposits you make using your own money. Deposits are subject to a separate 1x wagering requirement, but you can withdraw any unspent deposits at any time. How do Wagering Requirements Work? Before we talk more about wagering requirements, we need to look at the difference between ‘Cashable Credit’.
- First, there’s the wagering requirements that come with your casino bonuses and free spins. And second, each game has a minimum and maximum “wager limit” as in how much you can play for per spin. The direct meaning of wagering in the casino is basically to turn over bonus money a.
- Wagering requirements vary between different casinos and online gambling sites, but they are usually between x25 and x45. For example; say you make a $30 deposit, and you are claiming a deposit bonus with 100% up to $100.
In some cases, online casinos now even offer free spins without a wagering requirement. Different games contribution to the wagering requirement At this point, things get a bit complicated as it can happen that your wagers will count differently towards the wagering requirements depending on the type of.
If you enjoy online casinos, you may have heard about wagering requirements. But what exactly is an online casino wagering requirement, and how does it affect players? In this article, we cover everything you need to know about wagering requirements and casino games.
What is a wagering requirement?
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Whether you are a new or experienced online gambler, you’ve likely seen promotions like these that casinos offer to encourage players to sign up. However, if you’ve used an online casino before, you also know that there is often some fine print that comes along with these offers.
This fine print is what is known as a wagering agreement, or play-through requirement. It usually states that the player must meet a minimum threshold to reap the benefits of their sign-up or promotional offer, or to claim any winnings they’ve made.
Why do wagering requirements exist?
Sign-up rewards, sticky bonuses, and other promotional offers are there to encourage new sign-ups, and to benefit existing customers. These incentives allow online casinos to reward players with extra credit or time on their favorite games.
The various kinds of wagering requirements
Free spins wagering requirement
To cash out any money you make from free spins, you need to wager an amount that is calculated by multiplying your total winnings. For example, if you win $50, and the wagering requirement is 20 times, you’ll need to wager $50, 20 times ($1000) before you can claim your winnings.
Match bonuses
The wagering requirements around match bonuses work similarly to the wagering requirements for free spins. If you deposit $50, the online casino will match that $50 as part of a match bonus. If the wagering requirement is 20 times, you would need to wager the matched deposit 20 times to meet the wagering requirement.
However, players should also be aware that some online casinos may include your initial deposit as part of the match bonus. So if you deposit $50, and the casino matches with $50, you would need to wager a total of $100, 20 times, in order to meet the wagering requirement.
No deposit bonuses
The wagering requirements for a no deposit bonus also makes use of the multiplier system, based on the amount that you receive. If you receive a $50 no deposit bonus, and the wagering requirement is 20 times, you’ll need to bet a total of $1000 to meet the wagering requirements.
Other possible regulations
In addition to the bonus specific rules, there are other regulations that may affect a player clearing the wagering requirement.
Your bets only count after you’ve cleared your deposit
If you claim a match bonus, any games that you play will first make use of the money that you deposited. After this money has been used, any bonus credit or additional deposits will begin to count towards wagering requirements.
However, this may not always be the case.
Certain games may not count towards wagering requirements
When working towards meeting your wagering requirement, it’s important to know that certain games may only contribute a percentage of your bet towards the wagering requirement. In some cases, it may not contribute to the wagering requirement at all. This is usually decided on the Return To Player (RTP) value, a statistical theory that looks at how much a game pays back to players after a certain period.
For example, slot games with a low RTP value may contribute the full amount that you bet towards the wagering requirement. On the other hand, live table games with a high RTP may contribute much less towards your wagering requirement.
Whichever game you decide to play, if you are trying to meet a wagering requirement, be sure to check that a bet counts before you commit your money.
Your bonus is only valid for a certain time
Be sure to check how long your bonus is valid so that you can take advantage of it before it expires. Some are only valid for a day, while others might be active for several months, depending on the type of bonus.
Be careful about picking up additional bonuses
While a bonus may seem too good to pass up, it’s important to read the fine print before you accept any new or additional wagering requirements. As a rule of thumb, you should always aim to clear your current wagering requirement before accepting the next, to avoid any possible issues that may arise with the casino.
Some games, types of bets, and strategies may be banned
Casinos will clearly define any bets or strategies that could be used to exploit the system, such as low-risk bets, or playing low contribution games, and then playing high contribution games with your winnings. Certain games may also be banned from play while completing wagering requirements. You also have a betting limit, which is defined according to the game you play.
How Do Online Casino Wagering Requirements Work From Home
Failure to understand these specific rules, which are set in the terms and conditions, could result in you losing your bonus balance. You could also forfeit any winnings you may have accrued. It’s important to note that most online casinos will have additional disclaimers, warning players that any attempt to exploit the system, even if it’s not listed, or violation of the wagering requirements agreement, may cost you your bonus and winnings.
Find out if cashback applies to bets
If you are a regular gambler and like to make the most of your gambling deposits, you’ll have most likely investigated what cashback offers are available at your favorite casino website. Cashback offers are a great way for regular players to save some cash if they’re on a losing streak. But, you’ll need to confirm with the casino how and if they are applicable to bets made when completing wagering requirements.
All bonuses do not come with wagering requirements
While players should be aware of the rules regarding bonuses that have wagering requirements, players should also note that some bonuses come without strict regulations. These are usually small bonuses or free spins on slots that are available right away for players to use. If players do win anything off these bonuses, many casinos will only require a small deposit in order for players to claim their winnings.
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Online casino bonuses have become something of a tradition. Online casinos offer these bonuses not because they want to be philanthropic, but because they want to encourage punters to play.
Often, many Canadian casino players don’t understand what all the terms attached to a casino bonus mean. They tend to ignore them and think that they don’t have a significant impact on the game-play. One such term that tends to pop up is the wagering requirement. Also known as ‘Playthroughs’, wagering requirements play a pivotal role in the world of online gambling.
How come, you might ask. Since they come part and parcel with casino bonuses, they are involved in every casino game you play. Whether you an online slots lover, live blackjack or a Roulette game aficionado, wagering requirements apply in almost anything bonus-related at Canadian online casinos.
You might further wonder what role do the wagering requirements play in casino games, so today we will discuss the part of wagering requirements, how to calculate them, and how to beat them.
What are wagering requirements?
To better understand this multifaceted issue and the purpose of wagering requirements, you need to comprehend its role in the casino industry.
Since the online casino industry is rife with competition, casinos are always coming up with no ways to capture your attention. They do this in several ways, but most prominently, it is done by attaching them to casino bonuses in Canada.
To understand the complex issue and reason for the existence of wagering requirements, you need to understand its role in the online gambling world.
A signup casino bonus is a match bonus that is given to players when they sign up to a casino and make a deposit for the first time. If you are new to casinos, you might think that the casino is giving you free money, but this couldn’t be further from the truth. This is where the wagering requirements come in.
Casino bonuses should be used for the purpose for which they are intended; to play games. However, the online casino industry has, in the past, witnessed a widespread occurrence of bonus abuse by players, and casinos had to incur huge losses, as players would open accounts and cash out the signup bonuses awarded to them. Now, this abuse had to stop at all costs and to offset this financial risk; online casinos had to introduce specific rules to accompany the bonus offers.
Wagering requirements encompass the number of times that a player must wager their bonus before they can withdraw their winnings. Likewise, when you claim a casino bonus, you cannot withdraw the free money. Instead, it is converted into bonus cash, which you can use on casino games (Some games might be restricted).
Since the terms and conditions of casino bonuses can be long, many players tend to ignore them, hoping there was nothing significant within that would concern them. On the contrary, the terms and conditions tend to include bet limits, any potential caps on winnings, bet limits and the wagering requirements.
Over the years, casinos bonuses have branched out. The most common type of bonuses you will find in the majority of online casinos are the match deposit bonuses and no deposit bonuses. The former is given to players for signing up and making a deposit, while the latter is provided without the player having to make a deposit first.
It is for this very reason that casinos in Canada have implemented wagering requirements to save themselves from financial ruin, money laundering and/or deal with bonus hunters. Sure, the rules are something which casino players never want to hear about, but they are necessary to cushion online casinos against fraud, which usually culminates in significant financial losses. Of course, these requirements typically don’t affect genuine casino gamblers, who are out to have fun and win the right way.
How Wagering Requirements Work
In most cases, players have to wager a set number of times to meet the wagering requirements and cash out their winnings.
The amount often varies from one casino to another, and that’s why you need to do some homework to find bonuses with the lowest wagering requirements. Every online casino has its playthrough requirements contained in the terms and conditions; hence, you won’t be hard-pressed to locate them.
How to calculate wagering requirements?
Now that you understand the basics of wagering requirements, you need to comprehend better how to calculate them to save yourself any unnecessary hassle with too-good-to-be-true bonuses.
Let’s imagine that you want to sign up to a new casino that is providing you with a generic casino bonus as follows: 100% match bonus up to £200 with a wagering requirement of 20x. This is how you would calculate the rollover:
£200 (bonus) x 20 (wagering requirements) = £4,000
This is the amount that you need to wager before you are free to cash out any withdrawals. This, however, only applies to your bonus. Although this sounds harsh, it is not intended to punish you as a player. The requirement is only there to discourage fraudulent players who are out to rob the casino of millions of dollars. Remember, if the casinos don’t put a proper system in place to keep fraudsters away, they (online casinos) will go down, and genuine players will be deprived of the opportunity to have fun.
Hence, wagering requirements are a preventive measure meant to ensure that casinos exist.
Many casinos in Canada throw in your own funds into the mix along with the bonus money. In that case, the amount you need to wager is as follows:
£200 (the bonus) + £100 (money deposited) x 20 (the rollover) = £6,000
You can understand why meeting wagering requirements, can be difficult, especially if you claim a bonus with higher than average wagering requirements. Between 30 and 35x is considered the industry’s standard but anything higher than that should be avoided, as you will not meet them.
What are wager-free casino bonuses?
There is a silver lining, however. There is something called the wager-free casino bonus that are extremely rare, almost as unique as a $20 no deposit bonus.
A wager-free casino bonus is a bonus that has no wagering requirements attached to it. Since it has 0x wagering requirements, it means that whatever you win, you can cash it out or use it on other casinos games. Regardless of what you want to do with the winnings, they are yours to keep.
It can come in various shapes or forms, but in general, it comes either as wager-free spins or as a wager-free bonus. Both are advantageous since there are no playthroughs to me. At first, you might be dismayed when you see the size of your wager-free bonus, but remember, what you win is yours. You can check out our no wagering casinos page here if you want to get your hands on great deals.
Casino Games & Wagering Requirements
Probably not the best news you want to hear but, many casino sites assign some of their games (games which count towards meeting the playthrough requirements) a percentage. For instance, you may find that online slots are allocated 100%, meaning that every bet you place on a slot machine, moves you closer to meeting the wagering requirements.
In live casino games such as live roulette, the percentage can be as low as 5%. This means that for every £100 bet, only £5 will count towards the playthrough requirements. As already mentioned, it is particularly crucial to know the wagering requirements of any online casino before joining. Yes, the lower the wagering requirements, the better they are for players, but there are dozens of less reputable online casinos with playthrough requirements as high as 50x.
This alone should raise a red flag.
Tips & tricks to beat wagering requirements
Once you fully comprehend how wagering requirements work, it is incredibly easy to spot a good casino bonus deal from a bad one. Don’t just sign up to any new Canadian casino with a big deposit bonus, unless you wish to play for fun and not win money. Follow our top tips and tricks below to help you on your only casino journey.
Do your homework when it comes to casino bonuses
Just because a casino bonus looks overly generous, it does not mean it’s beneficial for you as a player. As already mentioned, if you want to play for fun and not win money, go ahead, but if you're going to stand in the chance of cashing out your winnings, then read the fine print. In our experience, the smaller a casino bonus tends to be, the kinder the wagering requirements are.
Even so, it is already recommended that you read the terms and conditions, to see what the playthroughs are. Furthermore, always do proper checks before you sign up and provide your personal and financial details. Is the casino licensed and secure? Of course, if the casino you want to sign up to is listed at GambleGenie, then you can rest assured that it’s been adequately vetted.
The reason we stress the importance of a casino license is that casinos are subjects to numerous regulations as dictated by the respective gaming authority. If you are struggling to find any terms and conditions and you can’t seem to find contact details to customer support, avoid at all costs.
Going through the terms and conditions, you will be able to discover any other inconveniences, such as caps on winnings, betting limits as well as wagering percentages on specific casino games.
Sign up to No Wagering Casinos
No wagering casinos are all the rage these days. That being said, they are still hard to find. Their signup casino welcome offer tends to be wager-free. It does not mean that all the bonuses on offer at a no wagering casino are free.
Let’s take an example of a no wagering casino. Take PlayOJO Casino for example; This online casino gives new signups, the opportunity to claim up to 50 wager-free spins, depending on the amount the player wants to deposit.
Refuse the bonus
If you prefer one casino over the other and provides you with a great online gambling experience, but a so-and-so bonus with hefty wagering requirements, you always have the option to turn it down.
This means that you will play with your funds and no bonus whatsoever. Whatever you win from your own funds is yours to withdraw.
Are wagering requirements avoidable?
Not unless you want to claim casino bonuses. At some point or another, the temptation of claiming a casino bonus will be too big, and you will find it difficult to resist. You can always refuse the bonus, but playing with a bigger bankroll might be a little too tempting for some of us.
A casino bonus has many benefits. It can triple and even quadruple the money in your account, which gives you bigger and better opportunities at striking it big at a jackpot game.
Claim an online casino bonus Canada
Now’s the time to sign up to the best Canadian Casinos with the lowest wagering requirements. Whether you are looking for a no deposit bonus or a great free spins offer, look no further. Check out the below GambleGenie-approved bonuses.
Best Online Wagering Sites
GambleGenie.com is your trusted part in finding the best casino deals and bonuses in Canada. Rely on the Genie to help you pick your next favorite casino.