For those just starting to dabble in the world of online casinos, with state-of-the-art slots, table games, and live-streamed action at your fingertips, it’s important to be mindful of one key concept – wagering requirements. Most online casinos are keen for new custom. Welcome bonuses are plentiful, with matched and no-deposit bonuses, as well as free spins promotions that give newcomers an initial leg up and an opportunity to get a feel for the software, while discovering games they resonate with.
It’s important to bear in mind that most welcome offers will be provided with wagering requirements attached. A wagering requirement is the amount of money a new customer will have to wager before they can submit a cash withdrawal to their bank account.
We’ll use the current welcome bonus available from NetBet casino as a prime example. Winnings from its ‘Casino Free Spins’ have 40x wagering requirements attached, while winnings from its ‘Vegas Free Spins’ have 50x wagering requirements. So, what does this mean in practice?
Let’s say you won £30 using your ‘Casino Free Spins’ at NetBet and £20 using your ‘Vegas Free Spins’. You will need to wager 40x £30 (£1,200) and 50x £20 (£1,000) before these funds can be withdrawn as real money to your bank account. If you don’t meet these requirements, or your money runs out before you reach those milestones, the bonus money cannot be converted into fiat currency for a withdrawal.
Do wager-free bonuses exist?
It is possible to get your hands on a welcome bonus that doesn’t have wagering requirements attached. Although they are more few and further between, it does give players a chance to turn any bonus funds or free spins into real, withdrawable cash. Although some online casino operators may allow you to withdraw the funds immediately, it’s also possible that your operator will ask you to make a real-money deposit using a legitimate payment method – which no longer includes credit cards – prior to making a withdrawal. You could always deposit the minimum amount and then withdraw this together with your wager-free bonus winnings.
Weighting on wagering requirements
Where each online casino bonus differs is its weighting for wagering requirements on various casino game formats. For example, one casino may offer 100% weighting on all slot titles. This means that every penny you wager on slots goes towards the wagering requirements. However, the weighting may fall to just 50% for some classic table games like blackjack or roulette, meaning that only half of what you stake contributes to your overall wagering requirements.
If you cannot see the weighting of the requirements of a welcome bonus you choose, be sure to liaise with your operator’s customer support department. They will be able to detail the weighting in full detail. Be mindful that most wagering requirements are time-limited too, which means that you could have only a matter of days or weeks to fulfill the terms before the bonus funds are rendered null and void. Hopefully, this puts you firmly in the picture of wagering requirements and how they exist to safeguard player identities and maintain the integrity of online casino communities.