What are ‘Wagering Requirements’?
Wagering Requirements are a limit placed by a bookmaker or casino on how many times a bonus must be wagered before it is eligible to be withdrawn as cash. For example, a common bonus offered by both bookmakers and casinos is a 100% bonus on the player’s first deposit. If the player deposits £100, and receives a bonus of £100, they cannot simply withdraw the £200 as cash. Instead, they will be required to wager the money at the various games offered by the casino a certain number of times before they can withdraw what remains of their bonus (plus their winnings).
‘Wagering Requirements’ Explained
A wagering requirement is a multiplier that indicates the number of times you have to play a bonus before you are able to withdraw any winnings. Wagering requirements can vary drastically between different online casinos and bookmakers. For example, it is not uncommon to see very high wagering requirements set at around 80 times – conversely, some casinos have very low requirements at just two or four times.
In addition to the wagering requirements being in place, it is also common in online casinos that certain games will only count a percentage towards the requirements, further increasing the criteria should the player decide to play those games. Games with a very low house edge, such as Blackjack, often only count a very small percentage or sometimes even not at all towards these wagering requirements. Other games with a high house edge, such as bingo, lotteries and Wheel of Fortune, are usually counted at 100%.
Wagering requirements are detailed in the terms and conditions of the player bonus and can often be difficult to find – it is important for players looking to get the most out of bonuses to read the small print to understand exactly how likely they are to make any money from their bonus. For online poker, and other games where the player does not bet against the house, things can become even more complicated – for this reason, these games often use tournament tickets as bonuses instead, or award bonuses in installments.