Have you ever experienced a time when you claimed and used an online casino bonus only to find that you’re unable to withdraw any of the cash you’ve won because of wagering requirements? Or maybe you’ve heard of this concept before, but you can’t seem to wrap your head around it. If you’re experiencing any of the above situations, hang in there! In this article, we’re going to help you understand what wagering requirements are and whether there’s a chance you can beat them.
If you’re looking for more online resources to read further into this topic, Casinogorilla also has a complete guide to wagering requirements that you might want to check out. Otherwise, this guide of ours should be comprehensive enough and have everything you need to know.
Let’s get started!
What Are Wagering Requirements?
Before anything else, let’s first discuss the basics to help you understand the concept known as wagering requirements and the role they serve. As you probably know, “wager” is another term used when you place a bet on any casino game, whether it’s online slots, bingo, table games, and gambling games. Typically, when you choose to claim a bonus from your online casino of choice, the money you receive is given to you via bonus money and not in actual cash.
Now, this bonus is stored away in a separate wallet in your account, and it’s restricted by what we know as the wagering requirement. If you want to withdraw the bonus money you’ve made, you must first complete the wagering requirements as well as any terms and conditions that it may come with.
Unfortunately, new punters—and even some seasoned ones—seem to have a hard time grasping this concept. Possibly because many of them don’t read the terms and conditions beforehand, and they expect to be able to immediately access the funds. To put things simply, a wagering requirement is basically a certain amount of money that you, the player, have to wager before you can withdraw your cash. This is typically a multiple of the bonus amount or winnings.
As soon as you complete the bonus’s wagering requirements, you will then be able to convert the virtual bonus money into actual money you can withdraw. Unfortunately, if you’re unable to meet the wagering requirements, the bonus money will eventually be forfeit and you’ll never get to convert it to real money.
Why Do They Exist?
Now, you’re probably wondering: why do wagering requirements exist? Some might even think that this is some kind of manipulative tactic implemented by online casinos in an effort to take more money from players. However, there’s a very legitimate reason why wagering requirements exist. As a matter of fact, the purpose of wagering requirements is to comply with anti-money laundering regulations.
How so?
Well, if there are no wagering requirements in place, then there’s nothing stopping criminals and other shady individuals from cleaning out the illegal funds they’ve made by depositing and withdrawing the money right away.
Is There a Way to Avoid the Wagering Requirements?
This might not be the answer you want to hear, but there’s no way to avoid wagering requirements except to renounce your bonus completely. However, this isn’t something we recommend. Even though wagering requirements can be a major hassle, these bonuses can greatly increase your bankroll twofold or even threefold if you’re very lucky.
In other words, your online casino gives you ample opportunity to keep playing your favorite games and potentially win. Before you even know it, you’ll be surprised to find that you’ve already completed the wagering requirements and can withdraw your money anytime.
If this doesn’t work for you, you can also try claiming a bonus that doesn’t have a wagering requirement like cashback. There are also wager-free welcome bonuses out there that you’ll definitely want to claim if you don’t want to deal with wagering requirements.
About Wager-Free Casino Bonuses
Wager-free casino bonuses are exactly what its name implies i.e., it’s a casino bonus that isn’t attached with any wagering requirements. The best part is that you’re free to withdraw your money right away as soon as you win them. That said, you may still have to make a small deposit, although it definitely won’t be a lot. Plus, you’ll be paid in actual cash.
Wager-free casino bonuses come in different forms, including wager-free deposit bonuses, cashback, and wager-free spins. Most online casinos are aware of how popular this type of offer is among punters, which is why they’re typically promoted.
How to Beat Wagering Requirements
At this point, you’re aware that you can’t really avoid the wagering requirements. However, there’s actually a way to make the most out of your online gambling experience even with these requirements trailing behind you.
Make an Effort to Choose the Right Casino
For one thing, it’s important that you choose an online casino that has the right licenses and certifications from a reputable gaming organization or authority. When you know that an online casino has the right licenses, you know for sure that they adhere to several regulations and laws, including reliability and security.
Read and Understand the Fine Print
If you’re sure that your online casino of choice is a reliable one, then they’re sure to comply with the strict rules imposed by the gaming authority. Typically, one of these strict conditions includes displaying the relevant terms and conditions on the site where players can easily see and find them. This is where you can read up on important information about the bonus you’re interested in.
Here, you should check several information, including:
- The bet limit of the bonus;
- The minimum deposit;
- What the eligible games are;
- The wagering requirements;
- The time limit; and
- The winning cap.
We can’t stress this enough: don’t claim a bonus if you haven’t read its terms and conditions yet—not even if the bonus sounds too tempting not to sign up for.
Register for an Account
Now that you’ve thoroughly checked every little thing and you’re happy with what you’ve found, go ahead and sign up for the online casino you want. Then, feel free to make your first deposit so you can claim your bonus.
Conclusion
We hope that this article was able to help you understand what wagering requirements are. Although it may be disappointing for some that there’s no workaround to this requirement, there are still different ways you can enjoy and make the most out of your online gambling journey.