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Online Casino Wagering Requirements – Understanding the Requirements
Explains that not following online casino wagering requirements can lead to a forfeit of the online casino bonuses and explains the wagering requirements.
Casinos offer bonuses so that players to use the bonuses for wagering. The idea is not to take the bonuses home upfront. Therefore bonuses come with a number of wagering requirements, which must be complied. However it is essential to first explain the two types of bonuses that are offered. These are:
- Sticky bonuses: Only the winnings can be withdrawn after the wagering requirements are met, the bonus amount lapses.
- Cashable bonuses: Both the bonus amount and winnings can be withdrawn once the wagering requirements are met.
In either event the wagering requirements must be met. Wagering requirements have the following components
- The number of times the bonus must be played through.
- The games on which the bonus can be played
- The time in which wagering requirements must be met
- Country specific requirements
The number of times the bonus must be played through.
This requirement is specified in one of the two following ways
- The bonus must wagered at least X times before cashing
- The bonus and deposit must be wagered at least Y times before cashing
Normally if the second method is specified then wagering requirement is less.
The games on which the bonus can be played
This is also specified in one of the two following ways
- Allowed and prohibited games
- Games count as specified percent
The first method is straightforward. In order to meet the wagering requirements the wagers have to be placed on certain specified games. If the player places wagers on other games it will not count towards wagering requirements and the player will have to make extra wagers. Normally the games on which wagers are allowed are games that have a higher house edge and therefore a lower chance of winning. This is not unfair considering the fact it is not the player’s own money, but the casino’s money that is being wagered.
The second method allots different percentages to different games. Slots and parlor games usually count as 100% and there is no problem with these. Some games like poker and sic bo count as 50%. This means that a $1 from the bonus must be wagered twice in order to meet one count of wagering requirement. Some games like craps and baccarat count as 10%. This means that a $1 from the bonus must be wagered ten times in order to meet one count of wagering requirement. Finally some games like blackjack and roulette count as 2%. This means that a $1 from the bonus must be wagered fifty times in order to meet one count of wagering requirement.
The time in which wagering requirements must be met
The wagering requirements specify a time frame in which the play through must be completed. For most bonuses a tome of 15 to 30 days is usually provided, which should suffice. However if the player fails to complete the play through in this time he will lose both the bonus and accrued winnings.
Country specific requirements
Players from certain countries are prohibited from availing of bonuses and player from certain other countries have to meet enhanced wagering requirements. Players would do well to check if their country falls in any of these lists before attempting to meet wagering requirements.
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