Understanding Casino Wagering Requirements
The online gambling industry is now packed with hundreds of casinos, with each operator competing with one another for your business. This is great news for you as the player, as it means you have access to a significant number of welcome packages and bonuses.
As lucrative as this can be, you should know that even the best UK casino bonuses will attach something called a ‘wagering requirment’ to their terms and conditions.
As such, it is important that you have a full understanding of what a wagering requirement is, how it works, and what you need to do to ensure you are able to withdraw your winnings out.
Here we break down this somewhat confusing aspect of the online casino bonus space.
What is a wagering requirement?
In a nutshell, wagering requirements are attached to casino bonuses to ensure that you don’t withdraw the bonus without playing any of the platform’s games. Each bonus will have its own wagering requirement attached to it, which is always expressed as a multiple.
Let’s say for example the bonus has a wagering requirement of x10. This means that you will need to gamble at least 10 times the amount of the bonus funds received before you can withdraw the funds out of the casino.
To ensure you have a full understanding, check out the example below.
- You claim a “£100 Matched Deposit Bonus”.
- You deposit £100, meaning that the casino will give you £100 in bonus funds.
- The bonus funds have an x20 wagering requirement attached.
- This means that you will need to gamble at least £2,000 before you can withdraw the bonus funds out.
As you’ll see from the above example, the higher the wagering requirement is, the harder it is to wager the bonus in its entirety.
How do I wager a bonus to meet the wagering requirement?
In its most basic form, every time you place a bet with the online casino, this will go towards the wagering requirement. For example, if you placed a £10 stake on a slot game, regardless of whether you won or lost the bet, you would contribute £10 towards your overall wagering requirement.
However, it is crucial that you are aware of the fact that some games contribute a lower percentage towards the wagering requirement.
This is to prevent players from ‘guaranteeing’ their wagering requirement endeavors. If this wasn’t the case, you could simply place proportionate bets on red, black and green on roulette, subsequently ensuring that you don’t lose money, but still contribute towards the wagering requirement.
This is why it is imperative to read the terms and conditions of the bonus you are claiming.
In the vast majority of cases, new slot sites will offer most of their slot titles on a 1:1 wagering basis. In layman terms, this means that each and every pound or penny that you stake will contribute 100% towards the bonus.
However, as noted above, table games such as roulette, blackjack, and baccarat do not contribute fully to a wagering requirement. In fact, table games usually only contribute 10%.
What is the best casino game to meet wagering requirements?
We are of the opinion that the best casino game to meet a wagering requirement is slots. The reason for this is that in the vast majority of cases, slots contribute 100% towards the bonus. However, slots are also ideal because of their higher-than-usually RTP (return-to-player).
Expressed as a percentage, the RTP determines how much the slot machine will pay back to the player over the course of time. Some online slot games pay an RTP of more than 97%.
This means that by playing the slot machine long-term, you’re likely to experience both wins and losses. Along the way, each and every spin will count towards the wagering requirement.