What is Wagering and How Does It Work? [2024 Guide]

Content Team 1 year ago
What is Wagering and How Does It Work? [2024 Guide]

Every online casino bonus comes with something called wagering requirements. They’re attached to different types of bonuses: match bonuses and even free spins winnings. You can use this guide to fully understand what is wagering, how wagering requirements work, and, most importantly, how to fulfill them and proceed to withdrawal.

What is Wagering?

Wagering is an agreement under which the bettor risks a certain amount of funds on the outcome of an unsettled event. It’s a form of betting in which outcomes of events are gambled upon, like a game or a trivia question.

If a bettor sends money, that sum can be considered the wager for that game. This can be done for a game of cards, a roll of the dice, a spin of the slot machine reels, a sporting event like horse racing, and even another form of event, like political elections.

How Do Wagering Requirements Work?

When you use one of the various casino bonuses now available, you will be granted a bonus balance to use in the casino. How often you have to wager the bonus before it becomes withdrawable is known as the wagering requirement.

Casinos can impose wagering restrictions on your deposit and bonus funds. Using the figures from the previous sentence means you’d have a total of $30 after making a deposit of $10 and receiving a bonus of $20. The minimum bet is $30, and the maximum is $40. Therefore multiplying those two numbers yields $1200 as the total amount to be wagered. This has an effect, as it substantially increases the overall sum. Read the terms and conditions carefully to see whether you must gamble the bonus amount alone or the deposit plus the bonus amount.

Some casinos may refer to wagering requirements by a different name. Sometimes, these conditions can be referred to as a playthrough or rollover requirement. They can also be called obligations rather than requirements. However, the preceding definitions remain to apply when discussing wagers. The way they are represented in writing, such as “x40,” is also consistent.

How to Calculate Wagering Requirements?

How do you figure up the wagering requirement? The wagering requirements of every given casino offer should be clearly displayed. But the gambling establishment doesn’t carry out the necessary math.

This is because the sum of your bonus money is directly proportional to the sum you initially invested. Therefore, it’s individualized for each participant.

Check the terms and conditions to know how much you need to wager. The wagering requirement is calculated by multiplying your bonus amount by the given number.

Take this hypothetical case of a $100 bonus and a 30x wagering requirement as an illustration:

Convert the $100 by multiplying by 30. That’s $3000. Your bonus funds are subject to a mandatory wagering requirement of that amount before you can withdraw them.

How to Beat Wagering Requirements?

You should follow these steps, or perhaps just a couple of them, to increase your chances of clearing all requirements and converting that bonus balance into a regular, withdrawable fund.

Read the Terms and Conditions

For the sake of player safety, all online casinos must follow the rules set forth by the regulatory and licensing body in charge. Having a visible location for the applicable terms and conditions is one of these requirements. You should be able to locate pertinent data concerning your bonus here. Consider double-checking the following:

  • Minimum deposit
  • Wagering requirement
  • Maximum payout
  • Time frame/Validity
  • Qualifying games
  • Maximum bet

How to beat wagering requirements? The first step can’t be emphasized enough: don’t accept a bonus unless you’ve thoroughly reviewed the associated terms and conditions.

Slots – The Ultimate Choice

Choosing the correct slot game is one of the most important things you can do while trying to meet your wagering requirements. When calculating minimum bets, casinos often give different games varying contribution percentages. In many UK casinos, for instance, wagers placed on table games and live games contribute only 10% towards meeting the wagering requirements.

Playing slots is a great option. Slots often carry a 100% weighting, meaning that all wagered funds on slots will count toward meeting the casino’s wagering requirements. Since a high variance slot can quickly wipe out your bankroll, it’s advisable to stick to slots with lower volatility.

Playing for longer on a slot with reduced variance allows you to complete more of the wagering requirements. Selecting a slot with a medium RTP is also recommended because casinos typically exclude games with a high RTP from their game lists.

Progressive Slots

The only way to win the jackpot money in a progressive jackpot game is to play with the maximum bet. Therefore, if you hit the winning combination or hand for the progressive but haven’t placed the minimum required wager, you will not win the jackpot.

No Wagering Casinos/Low Wagering Casinos

The concept of a bonus with no or minimal wagering requirements is still somewhat novel; thus, only a small percentage of online casinos currently provide this type of promotion.

A bonus with no wagering restrictions, or ‘zero wagering’, is exactly what its name implies. In addition, the bonus doesn’t have any rollover requirements: once you bet it, the winnings become instantly withdrawable.

Players can withdraw their funds quickly and easily without waiting for too long or spending too much on terms and conditions thanks to the zero-wagering incentive, and casinos gain an exponential boost in new player sign-ups.

The casinos offering no wagering bonuses are:

  • Wolfy Casino
  • Casino Brango
  • Extreme Casino
  • Wild Vegas
  • Dreams Casino
  • Cool Cat
  • Planet Casino
  • Yabby Casino

Nonetheless, some gambling establishments may tack on a low wagering minimum. Casinos use these enticing promotions to attract new players, and new players are more than happy to sign up in exchange for the benefits they provide.

You can get welcome bonuses with minimal wagering requirements at the following casinos:

  • Punt Casino
  • Raging Bull
  • Ruby Slots
  • Slot Madness
  • Golden Hearts Games

Free Bets vs. Betting Credits

All free bets are for one-time use only and must be wagered in full at the time of redemption. For instance, you cannot use a $25 free bet on five $5 bets. You’ll be limited to a single $25 wager. However, you can divide up your site credit however you like.

Site credit is similar to free bets, except no set amounts are attached to it. One $100 wager or 50 $2 wagers are both possible with 100 site credits. When compared to free bets, you have a bit more leeway.

Conclusion

Use this comprehensive guide to understand what is wagering completely, the wagering requirement rules and options, how to beat those requirements, and what games to play in order to beat them. Find out what types of slots are best suited for completing rollover requirements, the difference between certain bonuses, and how to clear them. Lastly, casinos offer no-wager bonuses and promotions with small wagering requirements.

FAQ

What is an example of wagering?

You’re risking a certain amount on an uncertain outcome: that can be the result of a football, soccer, basketball, or any other match or sporting event. You can also stake your money on roulette and dice outcomes, bet on slot or play classic games like Poker or Blackjack.

What does no wagering mean?

To clarify, if a bonus or free spins do not have wagering restrictions, then any money you make while using them is yours to keep and can be withdrawn without penalty.

How do you calculate a wager?

You may easily determine the return on your wager with an online betting odds calculator (or by checking how sports betting odd formats work). These calculators typically support American, Decimal, and Fractional odds formats.

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