In the world of online gambling, Welcome Bonuses play a major role in where a player will choose to spend their time and money. If 2 establishments are offering the same range of games, the same support and the same secure banking facilities but have different promotional deals, players tend to sign up the one with the biggest Welcome Bonus. Sometimes, this can be to the detriment of the player as the terms and conditions are far stricter on the bigger rewards. To help you out, we’ve taken a look at online casino wagering requirements, how they work, and what to look out for, so you always get the best deal.
The Welcome Bonus is the most popular promotion in the industry. Since there are plenty of top-rated sites all competing for your business, they all want to offer you something to entice you to join them, instead of their competition. While a few establishments offer no deposit promotions, the majority put their focus on the players who make a real money deposit. As soon as you complete the registration process and make your first deposit you will be rewarded with a casino bonus or welcome offer.
It is important to note that not all establishments offer welcome packages. Those that do, tend to stick to a set formula of a cash match with a few free spins thrown in for good measure. Most players will be familiar with the advertised 100% or 200% cash match up to $400. What they don’t realise is that each and every reward comes with strict wagering requirements. Before you sign up and accept any offer, it is important to read the terms and conditions, so you know what you need to adhere to.
All online casino bonuses, no matter how big or small come with terms and conditions that must be met before you can withdraw any winnings from your account. In the case of the Welcome Bonus, the requirements include betting multiple times your total reward amount. This is usually displayed as number, with a multiplication sign such as 10x or 15x.
Let’s look at a simple example. If a site is offering a 100% match up to $200 with a 12x wagering restriction, your total amount is $200, if you choose to deposit the maximum amount.
In order to clear the requirements, you would have to bet 12x $200 or $2400 in real money bets before you can even think of cashing out any of your winnings. Understanding online casino wagering is important, especially with larger offers. Some sites offer a 200% match, which looks impressive but comes with higher restrictions. In this example, you might find a 200% bonus up to $200, with a 20x wagering restriction. If you take the full amount, you would have to bet 20x $200 or $4000 in real money bets.
It is also worth looking at the fine print, as some sites stipulate that the restrictions apply to both your initial deposit amount and the reward amount. If that were case with our first example, our deposit amount is $200 and casino bonus amount is $200, which means the restrictions apply to the full $400. The requirements stipulate a 12x rollover, which means you must make a total of 12x $400 or $4800 real money wagers before you can cash out.
If free spins are included in the deal there are also restrictions that apply. In most cases, the free spins must be used on specific games stipulated in the terms and conditions. The spins will only come into effect once your total promotion amount is activated and you have a limited number of days to use them all.
Online casino wagering requirements are not a bad thing as they stop players abusing rewards systems, and when you know what to look out for, you can ensure that any promotion offers you the maximum benefit and richest rewards.