Online casinos use bonuses to attract more players. However, if it were just a matter of signing up and receiving and withdrawing bonuses at will, everyone would be rich. So, to prevent abuse, online casinos put terms and conditions that apply to bonus withdrawals.
There are many types of casino bonuses. A free bonus means you do not have to make a deposit to receive your extra funds. In other instances, casinos offer bonuses, depending on how much the player has deposited. For example, a 10% bonus on every deposit means that for £50, you will receive £5 to your account.
Bonuses are so generous that players often forget to look and understand the terms and conditions in their respective online casino. Failure of achieving wagering and verification requirements may prevent you from accessing your casino bonuses. While ID verification is also important, in this article, we are going to look at casino wagering requirement.
A casino wagering requirement is an indication of the amount you are supposed to make with your bonus, before making a successful withdrawal. For example, if a player deposits £200 at a casino that offers 20% bonus and has a 2x wagering requirement;
Total bonus: 20% x £200= £40
Total money available for play in the account = £240
Let us say the player has made £20, thereby totalling the funds in his account to £260. If the player wants to withdraw, he will have to forgo the bonus and only take out the percentage of profit he made from his original deposit. Why? The player has not reached the minimum required wager of £80 (20×2).
How to clear casino bonus winnings, fast
1. Understand the different types of bonuses then decide which is best for you
If a bonus does not match your skills, you have fewer chances of winning. Here are the main types of casinos bonuses.
- No deposit/ free bonuses – You receive a bonus, as soon as you create and confirm your user account.
- Match bonuses – The casino matches your deposits with a fixed percentage and credit it to your account.
- Cash back – You receive a fixed percentage of your losses at intervals (weekly, monthly or bi-annually).
- Reload bonus – Applies to existing customers, whenever they reload a replenished account.
- Loyalty bonus – Existing customers who regularly play and make deposits to the casino receive free spins, offers and real money.
2. Check the expiration time of the bonus
Once you receive your bonus, check for the expiration time and date. Are there time limits? How do the time limits dictate withdrawals? In case the bonus expires without you having made a withdrawal, will you lose all your profits?
3. Promotional codes
Always be on the hunt for promotional codes. While some online casinos automatically add bonuses to your account, others will require you to use a promotional code.
4. Excluded countries
Some online casinos have bonus limitations, depending on your country of residence. For example, you might find that certain bonuses are only available in Europe (very common among UK online casinos).
5. Know how much the games contribute to wagering requirements
Note that different games attract different bonuses and wagering requirements. Although most poker sites contribute 100%, some especially the lower variants (roulette, blackjack and video poker) might offer a smaller percentage. In fact, in some online rooms, roulette contributes 0% to the casino wagering requirements..
6. Do not exceed the maximum stake allowed on bonus
Ensure that you are aware of the maximum stake and do not exceed it. Some casinos have implemented a painful way of punishing ‘bonus abusers’ who recklessly place stakes, using bonus money. For example, a casino might repossess all your bonus money and profits.
7. Remember that you can always say NO to a bonus
Bonuses are good because they help you get extra playing time and more chances to win cash. However, the minimum-threshold requirement might cause trouble when requesting for payouts. To avoid the hassle of casino wagering requirements, reject the bonus.
You can find the terms and conditions of bonuses at your casino, by checking the footer.To win, focus on the game and obey the rules. You can also visit our archive to read more about bonuses and casino wagering requirements.