If you're new to mobile gambling, you may come across a few phrases that you're not familiar with. The online gambling world is awash with jargon, yet some of it is more important to understand than others.
One of the most important terms you'll need to learn about is a ‘wagering requirement'. Although you might have a vague idea of what it means, it's vital that you fully understand what it is, as it's integral to getting the most out of your gambling experience.
That's why we here at GoWin, we have provided a guide on how to understand exactly how a wagering requirement works and what purpose they serve at a mobile casino.
What Are Wagering Requirements?
So the first question you're probably asking is: “what exactly are wagering requirements”?
Well, let's break it down. Wager means ‘to bet', and so a wagering requirement can also be thought of as ‘betting requirement'. Now, you're probably wondering: “but why are there requirements for making a bet? Can't I just bet what I want?” Technically you can, so long as you haven't picked up a casino bonus or promotion.
When we say a wagering requirement, what we mean is the minimum you need to bet in order to withdraw your bonus winnings.
For most bonuses, you cannot withdraw your deposit relating to said bonus or the winnings you get from the bonus – you must complete the wagering requirements first.
Why Are They Needed?
Wagering requirements are put in place to ensure that players can't just pick up bonuses and then walk off once they've spent their free cash.
Whilst casinos do want to entice you to sign up and play at their site over another, at the end of the day, an online casino is a business. This means that they need to make sure you'll stick around to make them money after you've received your rewards.
They also help to ensure that the casino cannot be used for money laundering or any other scams. Essentially, the requirements keep the casinos you love open and make sure that everyone can play safely and securely.
How Do Wagering Requirements Work?
Now we understand what a wagering requirement is, it's important to know exactly how they work and where to look out for them. Wagering requirements are usually tied to bonuses or promotions.
For example, an online casino offers a welcome bonus worth up to £100, which is subject to a 35x wagering requirement.
This means that for every bonus pound you claim, you'll have to wager that pound 35x before you can withdraw.
In this example then, if you claim a £10 bonus, you'll need to spend £350 making wagers at the casino before you can withdraw.
This may seem steep yet you should always consider clearing wagering requirements as an eventual event. You were going to play at the online casino anyway weren't you, so they just mean that a little bit further down the line you'll finally be able to withdraw winnings from the free cash they gave you at the start.
A decent casino should have requirements of no more than 50x. Anything higher than this is going to take you forever to clear and, in these instances, it may be beneficial to simply not pick up the bonus in the first place.
How Do I Find Out Wagering Requirements?
Our one piece of advice is to always look at the terms and conditions. If you're signing up at any online casino and claiming a bonus, they have to legally state any wagering requirements in the small print.
That being said, no casino is going to be held accountable if you go into a signed agreement without having read the terms and conditions first. We understand that no-one really likes to read the long terms and conditions, but it can save you a lot of hassle and disappointment in the future.
When reading the small print, players should also look at whether there is a limit on how long they have to clear the requirements. Some casinos allow you to keep chipping away at requirements indefinitely, whilst others put a deadline on it.
Of course, if a site has high wagering requirements and a small time period to clear them in, this is a sign that your bonus may not be as rewarding as you first thought.
Is There a Way to Avoid Wagering Requirements?
At most sites, the only foolproof way to avoid wagering requirements is to opt out of bonuses and promotions. This means you won't receive any rewards, yet you'll be able to withdraw your winnings immediately.
That being said, some casinos make opting out of bonuses more difficult than others. If there doesn't seem to be an easy way to say that you wouldn't like to receive a reward, you may have to chat with customer services before making a deposit.
No Wagering Requirement Casino Sites
On the other hand, some casinos do offer bonuses with zero requirements. These are sort of like the holy grail of casino sites, as they're few and far between. At these sites, you'll be able to withdraw what you win from a bonus immediately – how great is that?
It's worth noting, however, that the bonuses at these sites are significantly smaller. This is because, as we mentioned earlier, casinos are actually businesses and therefore they can't go around handing out large amounts of free cash, without any guarantee that you'll come back to play again.