Wagering Requirements: What are they and how do they affect you?
If you are looking to sign up with an online casino, you will probably see bonuses being promoted everywhere, but it can be tricky to know what conditions are attached to all that free money. We took a look into the leading online casinos for Canadians and checked the terms and conditions, namely wagering requirements, so that you don’t have to spend hours on end doing the research yourself.
Wagering requirements generally vary depending on the bonus (e.g. free complimentary bonuses given by the casino support team, bonuses offered on your first several deposits, ongoing promotions, signup bonuses, and the list goes on).
It is important to note that waging requirements are sometimes applied to the bonus amount exclusively while sometime it is applied to the entire balance i.e. the initial deposit as well as the bonus amount. Depending on how high the initial deposit was, you will often be better off with offers that apply playthrough to just the bonus balance.
Slots usually count 100 percent towards these requirements. Be careful when reading the terms and conditions and ensure that you never miss the details. If you have a bonus, it can be a good idea to play slots, because in the vast majority of cases other games either contribute less or don’t count at all towards the wagering requirements. If you wish to play a different game, ensure that you check the individual game contribution tables.
How Do Wagering Requirements Work?
Online casino wagering requirements generally specify a specific total amount of money that you will be required to wager before being allowed to withdraw your winnings.
For instance: If you receive a welcome bonus of $50 for a deposit of $10 and the bonus is subject to a 35x playthrough requirement , it means that you will be required to wager $1,750 ($50 x 35) in total before being allowed to withdraw your winnings.
The bonus and deposit can both be subject to wagering requirements depending on the casino. In such a scenario, you would be required to wager a total of $2,100 ($60 x 35).
So, what this essentially means is that even if you were to win $5,000 after spending just $10 on a wager, you won’t be allowed to withdraw the money until you have wagered an additional $1,740 or $2,000.
It is worth noting that the wagering requirements also have an attached time limit. Welcome bonus offers in most casinos are valid for between 7 and 30 days. If you don’t meet the requirements within this period, you will no longer be able to claim the bonuses.
Where Can You Find a Casino’s Wagering Requirements?
Standard Terms and Conditions (T&C): You will usually find them at the bottom of the main page of a casino’s website. The T&C page is usually detailed with multiple sections, which means that you might need to look for wagering requirements under the ‘promotions’, ‘sign-up offers’, or the ‘withdrawal rules’ section.
The Small Fine Print of the Promotion: Casinos usually offer a small fine print that contains the terms and conditions for certain promotions. You are likely to find the wagering conditions here.
Customer Support Team: If you are unable to either understand or locate the wagering requirements, the most suitable course of action would be to get in touch with the customer support team. Customer support teams for most online casinos typically operate 24/7 and you can easily reach them via a toll-free number, live chat, or email.
Why Are Wagering Requirements Necessary?
Players often view the wagering requirements as more of an annoyance, but such restrictions are critical to the gambling industry. If not implemented, some less than honest gamblers would just withdraw all the bonuses offered and run away without even bothering to play. In fact, during the early days of early gambling it was common practice, which is why casino operators introduced wagering requirements to avoid manipulation and exploitation by players.
In the absence of wagering requirements, players would be left in a world without any welcome promotions and bonuses. The other reason why wagering requirements are necessary is that casinos would like their players to sample a selection of games on offer and find those that suit both their bankroll as well as taste so that they may come back later for more action.
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