Learn the Wagering Requirements to Make the Most of Your Bankroll
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Betting has been around for a long time. As long as there has been some action happening, someone has wanted to make a wager about it. As technology has improved, it has enhanced our lives in many ways, including easy access to gambling. With gambling literally at your fingertips, it is important to understand how to make effective wager decisions. Check out this article to find out more details about wagering requirements.
What is Wagering in Gambling?
There is a difference between wagering and wagering requirements. If you are going to bet online, it is important to understand the distinction between them.
A wager is the term that refers to the amount of money you bet before a particular action at a casino. This is also what is considered when you place a bet.
A wagering requirement may also be referred to as a play through rate Requirement. They mean the same thing. This requirement is put in place by the casino that puts a minimum on the amount you must bet before you are able to withdraw it. Rarely will you find an online casino that does not have a wagering requirement. The casino is legally required to show you all the details about how to play in their casino, and it is important that you read all of the fine print.
Here is an example with wagering requirements explained:
Think of this as a wagering requirements calculator to explain the details of this requirement. There is a more detailed explanation about casino bonuses below, but for now, just know that for this example, a casino is offering to match 100 percent of your first deposit up to $3,000.
You deposit $3,000, and the bonus gives you $3,000, and now you have $6,000.
There is a x10 wagering requirement for this casino. That means you must bet 10 times more than the bonus, which means you have to bet $30,000. This is an extreme example to highlight how high you may have to wager before you can withdraw any of your bonus money.
Why Are There Wagering Requirements?
There are not many players that like wagering requirements, but they are in place for a valid reason. One could debate if the wagering requirement needs to be as high as it is at some casinos, but they are necessary. A casino is a business, and they want to make money. They also must protect themselves. Wagering requirements help to protect them against criminal activity. Criminals would deposit illegal money into a casino and then withdraw money immediately. This could be a way for criminals to clean their money. Wagering requirements help casinos fall in line with regulations put in place for anti-laundering regulations.
You always want to be aware of how far you are from meeting your wagering requirements. If you happen to win big, you might want to take your money and stop playing. If you still have to meet your requirements, you will not be able to take your money. It is a good idea to know how close you are to that requirement on a regular basis. Most casinos have a withdrawal screen that will show you where you are in meeting the requirement. You may be able to see it on your account page.
What Are Time Limits?
Just about every casino puts a time limit on the bonuses they give out. This means that you have a certain amount of days to meet the wagering requirement to withdraw the money. A casino may say you have 30 days to meet the wagering requirement. Using the example above, you have 30 days to wager $30,000 in order to withdraw the money. If you do not meet the requirement within 30 days, your deposit expires, and your winnings are considered void.
The amount of time given to you varies from casino to casino as they set their own time limit. Some casinos may be a little more forgiving with the time limits. Casinos cannot let their money sit in your pot for too long. Just imagine if they allowed every player to hold on to their bonus money for as long as they wanted. The casino could run out of the money they need to operate their casino. It may be frustrating to you, but it may be a necessity for the casino.
What is Game Weighting?
Game weighting is a way for the casino to track the number of bets that count toward your wagering requirement. Each game that a casino offers has a different weight, which means that playing two different games will count differently towards your requirement. In most casinos, the slot machines will count 100 percent towards your wagering requirements. This is not always a rule; you want to check it out to be sure. If they are 100 percent, no matter how much or how little you bet, all of it will count towards your requirement. That is the good news.
There is some not so good news. Other games, like blackjack, roulette, and other online games, do not count at 100 percent. They may have a rate of 60 percent, which means for every 10 you play, only 6 of them will count towards the requirement. These means it will take much longer for you to meet the requirement. This is particularly important when it comes to meeting your time limit. You want to make sure you read the fine print that is provided to you by the casino.
Table games, like blackjack, have a smaller edge for the house, which means the casino gets less return on these games. Slot games have a higher return for the house, so the casino gets more money. The casino usually associates the weight of the game with the amount of return they see. While it might not seem like it at first, there is some fairness built into the system.
A little bit more good news is that most of the games played on an online casino are slot games, so the weighting of the other games may not matter much to you. If you do not play the slots because you are more interested in other games, you want to check out the weighting of those games. This weighting only comes into play when you have a wagering requirement from a welcome bonus or possibly a promotion.
How Do Casino Bonuses Work?
It is important to note that if you do not want to worry about wagering requirements, you can choose not to receive bonuses from the casino. This may make your betting a little easier. Bonuses are usually for someone that is new to the casino and making a first time deposit. The intention is to get players to deposit money and continue to play at the casino.
In addition to the deposit bonus that comes with wagering requirements, there are usually some other bonuses offered by the casino. These include a play-only bonus. This money is kept in a separate place and can only be used to wager money. This money is never paid out to you in cash. If you win, the money you win goes to your real balance, which you can withdraw once you meet the requirements. Yes, wagering requirements still apply.
There is a free play bonus. In this case, the casino gives you some money in your account as soon as you sign up for an account, even when you have not deposited any money. This bonus comes at a high price because the wagering requirements are much greater. For the free play bonus, you often have to wager more than half of the bonus before you can withdraw the money.
Another bonus to consider is the reload bonus is similar to the play-only bonus. The major difference is that a reload bonus can be withdrawn on any deposit and not just your first one. Many casinos offer you regular reload bonuses to entice you to keep playing. These bonuses have time requirements. There may be limits on which games count towards your requirement.
Are There Bonuses That Do Not Require A Wager?
Yes, there are bonuses that are wager free. This means that the casino is offering you a bonus that does not require you to make any type of wager. Most often, you can use them right away. These may include free spins or a bonus offer that does not require a deposit. These types of bonuses are often on a smaller scale, but they work well to entice people to a new online casino. They can also work well to keep people playing on a specific site.
If there is a bonus offer, and you receive winnings as a result of using it, you can withdraw it immediately. The casino rules may require you to make a deposit before you do so. If they do require a deposit before withdrawing, there are not wagering requirements on the collection of the winnings.
Many casinos offer loyalty bonuses to their players. These are often hard to achieve and are usually given only to long term players. This usually means you have been playing for a year or longer on the same site. You may even have to wager a certain dollar amount before being included in the loyalty program. There is no limit to the way the loyalty rewards might work and may be offered in different forms. Some casinos offer a type of competition to their loyal players. Some of the benefits may include a lower limit for the amount of money you can withdraw. It may also include higher bonuses from certain games. If you plan to stick with one casino for a long time, you may want to know what type of loyalty bonuses they offer before making your choice.
How Exactly Does Wagering Work?
There are some additional terms you need to understand when it comes to wagering.
Deposited money is the money you take from your bank and deposit into your casino account. This is money from which you can make wagers.
Bonus money is the money the casino gives you once you have deposited money. This amount varies by what the casino is willing to match and how much you deposit. You can also make wagers from this money. It is important to know from which category you are wagering.
A maximum bet is the limit for the amount you can make on a bet. Many casinos give you a maximum amount you can wager on each bet. This prevents you from meeting the wagering requirements too quickly. The casino will tell you clearly the maximum amount you can bet.
A casino may require you to make a minimum bet with each play. This means that each time you play, the amount you wager has to be at least a certain amount set by the casino.
The expiration date is the date that you must meet your wagering requirements, or you can lose your bonus money and any winnings from it.
Exempt slots are the slot machines that, no matter how much you wager, it will not count towards your wagering requirements.
Slug = wagering requirements for your bankroll