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How Bonus Wagering Works
Bonus wagering is a leading term. Most casinos, especially the major online play sites, offer periodic bonuses to VIP members, new players, those making regular deposits, or winners of competitions.
These bonuses are deposited in the player’s casino bank. Surely, you think, this money now belongs to me? Contrary to this assumption, it still belongs in the casino, but not necessarily to it.
Bonus wagering, or wagering requirements, mean that you cannot withdraw this money to your bank account before first addressing the wagering requirement amount of your casino of choice.
What, you ask, is a wagering requirement. A wagering requirement is the number of times a player must play the bonus money before being allowed to make a cash withdrawal. From a business point of view, this makes sense.
The casino, online or physical, doesn’t want your money leaving its hands. They try to stop this is several ways, including minimum withdrawal limits or wagering requirements. These barriers can be confusing for many new players.
If you find it confusing, don’t feel dismayed! Casinos try to keep withdrawals convoluted, using tactics like wagering requirements, to keep your money within their site.
A wager is the first term most gamblers learn in the industry. A wager is the money that you spend on a spin, round, or card within a game. It’s the amount you pay to play a game online or the cost of a seat at the table in real life.
Wagering seems simple enough until we introduce the concept of bonuses and casino bonus money. Many casinos seek to entice new players by offering casino bonuses for deposits. These come in the form of free spins or cash prizes added to a player’s spin or casino bank balance.
However, what most players don’t realize is when they put down a deposit, they are entering into a wagering requirement agreement. This wagering requirement asks you to play the bonus money and your deposit amount on a certain number of spins before you can make a withdrawal.
The only way to have your money released as cash is to fulfil your wagering requirements.
It sounds devious when putting like that. However, this wagering requirement simply means you need to read the fine print and decide if you feel this play amount is reasonable. The size of wagering requirements differs significantly between casinos, so it pays to do your research.
Calculating Bonus Wagering
The rule of thumb is this; to release bonus money, you have to play through that bonus amount, and your deposit amount a certain number of times. This number of times is called the wagering requirement and can be quite high.
Let’s work through an example. Rachel places a deposit online of 10 dollars. With this 10 dollars, she gets an additional 5 dollars in bonus. Her total deposit is equal to 15 dollars. Now, it gets complicated.
Rachel’s wagering requirement is 30, meaning she has to play through her 15 dollars total account 30 times before she can make a withdrawal. In the end, Rachel must play a total of 450 dollars before she can withdraw her money.
How to Clear Casinos’ Bonus Wagering Requirements
Wagering requirements can be very frustrating for players receiving massive bonuses, or those who want to start making money from their gambling. First and foremost, remember not to deposit or play anything you wouldn’t be prepared to lose.
Secondly, never fear! There are ways to ‘beat’ the wagering requirement and fulfil this bonus wagering scheme while still keeping your money.
Wagering requirements, by law, have to be visible. These laws mean, before making a deposit, you can access the casino’s information pages to find out what the wagering requirement is.
The lower this requirement, the less you have to play before you can withdraw. This rule is essential for those of us who like to keep our money and assets liquid. For long-term players, wagering requirements post much less of a problem, as they ‘solve’ themselves over an extended amount of play.
Even if you are a long-term player, we cannot stress enough the importance of reading the fine print and messaging customer support. Doing so means you won’t be surprised when you first try to withdraw your money! It’s always best to be prepared!
The question of how to beat the casino bonus wagering requirements comes down to three answers. Pick your casino, pick your game, and note volatility. Wagering requirements are a waiting game. They are about making your deposit and bonus last as long as possible, stretching out your profits to outlast the casinos’ stringent rules.
They are unavoidable parts of gambling. Wagering requirements are the bread and butter of most online casinos, only because they want you to play on! This is why picking your casino is so important.
Casinos, like their products, differ significantly in most things. They all, however, want the same thing. They want your money and your time. This simple fact is the reason for wagering requirements, and, inevitably, every online casino utilizes them.
The way and degree to which they utilise them is the clincher. There is no clear cut way to beat the wagering requirements. However, you can pick a casino that requires less wagering multiples to go through their system. These do exist, and this is the reason why reading the fine print is so important.
The second important factor in picking a casino is the value of the bonus you receive. Bonuses give players a slight edge of the casino, negating the House edge that plagues all our bank accounts. Bonuses can cost a house big, allowing players the opportunity to wager and chase those big wins aggressively!
If you can find a decent bonus with your deposit, then it negates the wagering requirement negatives. Free money, after all, is still free money. Bonuses are the chance to engage in higher stake games, bigger wagers, and bigger winnings. This style of gameplay can be an exciting and rewarding thing, especially for career gamblers who live for the win!
Best Slot Games to Clear Wager Requirements
You have made your deposit, scored your sweet bonus, and now you are wondering what games to play to clear your wager requirement in the green? The aim of the game here is to stay afloat. You want to finish your wager requirement with money left in the bank you can withdraw.
Wagering requirements are, generally, applied most stringently to slot machines, the case study in this article. The question thus becomes, which slot machines operate in such a way that I can outlast the wagering requirement with money in the bank?
Variance and Volatility
The answer lies in volatility and variance. These terms are probably becoming familiar to readers as they are constants in online forums and slot machine articles. The reason being that volatility and variance are essential in understanding, judging, and choosing an online slot machine. Coincidentally, these terms are also essential in outlasting wagering requirements.
It is wise to stick with low variance slot games to beat wagering requirements. Variance is the rate at which a machine payouts. A low variance machine dishes out frequent, small wins to a player, meaning a player can last a long time, with relatively small changes in their total bankroll.
In comparison, high variance slots tend to stop and start. They often have long dry spells, followed by more massive payouts. The danger with high variance slots is that when trying to outlast a wagering requirement, we want our money to stay in the green. The enticement of more significant rewards is a big one.
Still, dry spells can be a severe drain on a bankroll amount.
It is also worth taking the return to player ratios into account. These are the measure of how much the casino gives back to a player in the long run. The higher the RTP, the lower the risk, and the more likely a return on your wager. A high RTP also means low house edge, evening the playing field a little.
These two terms of RTP and Volatility or Variance work well in tandem. Low volatility slots pay frequently and, generally, require low wagers to play. The return to a player for these games is accordingly high, usually at around 97%.
This percentage means that for every dollar played, 97 cents has to return to the player within a time. This RTP is higher than most high variance slots, which require a significant bankroll.
While we recommend favouring low volatility slots while clearing your wagering requirement, other experts have a mixed approach. This means beginning at high variance slots and keep playing for that sizeable win. Switch back to low variance slots when your bank account begins to diminish. It comes down to preference.