If you are a regular online casino player, there are very high chances that you’ve heard of wagering requirements or even used them. The online casino world has been replete with several offers that seek to expand the operators’ business and offer wins to players. However, what seems to be bonuses are usually subject to some terms and conditions that the players must fulfill. Those terms and conditions vary mainly from one casino site to another, but some of the essential ones are mostly retained.
One of such essential conditions mostly attached to online casino game bonuses is the wagering requirement, a prominent part of the online casino sphere. Join us as we dissect the nuances of wagering requirements for everyone to grasp.
What are wagering requirements?
Wagering requirements refer to the number of times a player has to stake on a bonus to withdraw their money. Wagering requirements form the crux of casino bonuses, with most of them offering players a chance to explore more. As a new or existing player, bonuses may be provided from time to time, with most of them having a few wagering requirements that the player must fulfill. A wagering requirement is a condition that a player must play the bonus offer a particular number of times to be eligible to withdraw their winnings.
This implicitly means that the wagering requirement is a condition precedent to withdrawal, without which it is impracticable to withdraw winnings. The kind of wagering requirement attached to bonuses largely depends on the new casino online accepting Kiwis that operates on New Zealand market. For instance, some wagering requirements are low, which means they should be taken into cognizance when accepting a bonus offer. Some others are high, signifying a bit of stress before you cash out your money from the casino.
Some might be wondering what a wagering requirement typically looks like. The standard regulatory practice requires that all conditions and terms of a bonus offer be made clear and unambiguous to the players, so they can decide whether or not to opt-in. In this regard, a wagering requirement is that x20, x50, x10, or x15 that you see on most casino bonus offers.
A typical casino bonus wagering requirement would appear thus: “100% up to 200$ with a wagering requirement of x20 bonus”. This means staking at 200$ results in an offer of the highest bonus amount of 200$ with the bonus up for playing first. This means the player would have to stake the 200$ bonus 15 times (wagering requirement). Mathematically, you have 200$ x 15 = $3,000, so the wagering requirement is a determinant of online casino bonuses.
Why are wagering requirements used?
It’s no surprise that the industry has continued to witness several improvements, most of which are reasonably justifiable. Before wagering requirements were introduced, one-time players quickly withdrew their winnings after playing once with their bonuses and deposits, without coming back again. This didn’t augur well for casino operators, as they lost money and lost the purpose of offering bonuses in the first place. Thus, wagering requirements have been used over the years, as a tool to retain players at a casino in hopes of turning them to regular players.
Also, the advent of wagering requirements has helped casinos curb financial crimes that involve money laundering by cybercriminals. Before now, some cybercriminals could clean their fraudulent money via online casinos, thereby making casinos a channel for furthering fraud.
How to fulfill wagering requirements for withdrawal
In my experience, wagering requirements could be a little difficult to fulfill or circumvent, especially by new players. The best way to satisfy these requirements is to be cautious and careful when you are offered bonuses. It is the practice for most casinos to show you the terms and conditions of the bonuses they offer you. However, this may not always be the case, so you have to dig them up any way possible, read through and understand them significantly before staking.
Also, you have to go for low wagering requirements, as they offer lesser stress than higher wagering requirements. With low wagering requirements, your efforts at getting your money are fast-tracked, especially when you play several bonus games.
Wager-free casinos are online casinos that offer bonuses without wagering requirements accompanying them. Wager-free casinos don’t necessarily always have to provide games without wagering requirements; they often have more bonuses with no wagering requirements. Thus, when playing at such casinos, it’s the delight of the players to make the best of bonuses offers. This would mean that withdrawals at wager-free casinos can be very seamless, convenient, and hitch-free.
The world of online casinos has so much to offer to players subject to wagering requirements that may be burdensome. Therefore, it behoves players to keep searching for regulated casinos that offer low wagering requirements that can be banked on. This search would, of course, open your minds to the numerous fantastic casinos out there.