Wagering requirements come part and parcel with casino bonuses offers online. They sometimes even crop up at land-based casinos. However, when you are playing online, it affects the way you play.
Wagering requirements are in place to safeguard the casino’s interest and to make sure that the casino does not go bankrupt. It is for this very reason that many casinos give away generous casino bonuses.
As a player, you are allured by the generous casino bonuses promising to make your bankroll richer as soon as you deposit. However, a quick look at the fine print reveals that not all is at it seems. You have to fulfil the wagering requirements in order to cash out any winnings generated from your online casino bonus.
What is a Casino Bonuses – Wagering Requirement?
A wagering requirement, which is also known as a playthrough, is the number of times that you need to wager your bonus before you are able to cash out any winnings.
If you make a deposit of AU$10 and are claiming a 100% match bonus with 10x wagering requirements, it means that you have in total AU$20 to play with. To fulfil the wagering requirements, you need to wager your bonus AU$200 in order to cash out any remainder winnings.
Almost all online casinos have wagering requirements attached and sometimes hidden away in the terms and conditions. Players see flashing bonuses and free spins amount, thinking they can withdraw that money right away. This couldn’t be further from the truth.
It is for this very reason that an online casino comparison site can come in handy. You can see at first glance all the wagering requirements attached to casino bonuses. In terms of casino bonuses, they also have a great selection of offers.
Can I withdraw my winnings after winning online?
It depends on a number of factors. If you haven’t taken advantage of a casino bonus and you are playing with the money deposited, you can withdraw right away.
That being said, some casinos are sneaky and might impose wagering requirements on money deposited. In that case, it is always best you read the terms and conditions.
If you are not eager on taking advantage of a casino bonus, it is also wise signing up to a reputable online operator since they would have to abide with rules and regulated as set out by the gambling authority. The UK Gambling Commission, for example, obligates casinos to allow players to renounce a bonus and not having to claim it.
On the other hand, if you are taking advantage of a casino bonus, things work out a little differently. Unless you are claiming a rare wager-free bonus, chances are your bonus has wagering requirements attached to it.
You would have to fulfil those until you are able to cash out any winnings. And even if you do succeed in meeting those playthroughs, the chances are that you need to meet the casino’s minimum withdrawal threshold. This threshold usually is much higher than the minimum deposit.