Casino wagering requirements are sometimes difficult for gamers to understand, especially those who are new to the world of internet gambling. Suffice it to say it is because of the munificent and generous bonuses for those new and seasoned patrons of many online casinos that wagering requirements are needed.
Why Are Wagering Requirements Needed?
Let’s face it, online casinos are in the business to make money. They must have a set of rules in place in order to protect themselves from the risk that goes along with offering player bonuses, as there are some players who will try to make a career out of circumventing the rules in order to gamble with casino money. Most of these miscreants are caught red-handed, it is the ones that manage to slip through the cracks that can end up costing the casinos a bundle. Casino wagering requirements keep these online establishments from losing money.
I Can’t Find Information on My Preferred Casino’s Wagering Requirements!
How do you find out about online casino wagering requirements? Often, one must read the fine print thoroughly when signing up to be a part of an Internet gambling website. This is where the wagering requirements will be found, perhaps to soften their blow to eager newcomers. If you are checking out a new casino to see if it is one in which you would like to invest some time and money, the terms and conditions of any bonus offered by that casino should be carefully considered before making a decision. Where to look? Try the bonus or promotions page, or click on an ad that tells of the bonus in question.
But – What IS a Wagering Requirement?
A wagering requirement is merely a number chosen by the casino that stands for the number of times you have to meet the playthrough requirements of the bonus or the bonus plus the first deposit you made at the casino in order to be eligible to cashout and receive your winnings. The number is not arbitrary – in fact, many online casinos share the same wagering requirement, as these numbers are chosen by risk management teams.
Here’s an Example
Let’s say that the online casino you have decided to frequent has a wagering requirement of 20x, and the bonus that is offered consists of a 100% match bonus up to $100 free. You decide that you will go for the bonus, and make a casino deposit of $200 with your preferred (and casino-approved) method of payment. Now, the playthrough for this example is 20x the deposit you made, plus the bonus. When you do the math, you see that $200.00 multiplied by 20 equals $4000.00. This means that before you will be eligible for cashout, you will have to place and playthrough $4000.00 in bets! ALWAYS check out the wagering requirements of an online casino before committing yourself to them.