Making Sense of Online Rewards: Don’t Get Caught by the Fine Print
Although gambling is a great source of fun for many, because you can also benefit from winnings, players are becoming more and more interested in how to do that most efficiently. One aspect to remember is that every bonus, just like every casino, has its differences when it comes to the restrictions and the benefits you get when playing. One of the most important conditions of a promotion is the wagering requirements.
Why? Because if you don’t satisfy them accordingly, the casino will not allow you to withdraw and eventually enjoy your winnings.
Remember that some bonuses also come with no wagering requirements, and you can find some interesting ones on SlotsCalendar.com. Bonuses with no wagering are very advantageous because you get to withdraw your winnings fast.
If you want to learn about the wagering process, start with the information in this article. After reading everything, you’ll definitely have a clear picture of how it works.
Wagering conditions and some key factors
Essentially, the wagering requirement is a simple multiplier: 10x, 20x, sometimes going as far as 70x or even 100x. The higher the wagering requirement, the more you’ll have to play.
For every promotion you get, the wagering requirements should be stated in the bonus T&C. Here is the simplest method to use and calculate how much you have to wager:
If you have a bonus of $50, and your wagering requirement is 10x, then you will need to wager $500. This means that you need to subtract every bet from this amount as you place it:
Let’s take a look at more examples!
- If you have a bonus of $20 and your wagering requirement is 50x, then you’ll need to play a total of $1000.
- A $400 bonus with a 20x wagering requirement gives you a total of $8000 to play with.
Remember that you should stay safe while gambling and treat it as a fun activity, and not a method to get an income. Luckily, most casino offers limits you can set on your account to make sure you don’t fall into gambling problems.
One limit that you’ll be able to set is a wager limit. This restricts the amount you bet, and reaching it blocks your ability to do so for a certain amount of time.
Cash bonuses vs free spins bonuses
Most casinos offer diverse promotions that include cash/match bonuses or sets of spins. Here is an explanation about how each of them works when it comes to wagering requirements:
Cash bonus
If you get $100, for example, and your wagering requirement is 50x, this is how you have to calculate it:
$100 x 50 (wagering requirements) = $5000
This means that you need to bet a total of $5000 in order to be able to withdraw.
Free Spins bonus
For free spins offers, the wagering is calculated based on your winnings. Let’s say you get a bonus with 100 free spins on one of your favorite games. Here are the steps you need to follow:
- Finish the free spin rounds.
- For example, you won $100, so this amount will go to your bonus balance.
- If the wagering requirement is 30x, then you will need to bet $3000 in total.
Cash balance vs bonus balance
When you start playing at any casino, you will notice that your account will most likely have two different balances: cash balance and bonus balance. Here they are explained:
Even though your deposit will go to the cash balance, which we’ve discussed, it is not subject to wager requirements. There is still an exception to this rule: some casinos require you to wager your deposits once (1x). For example, if you deposit $20, you need to play that amount one more time.
What aspects should I take into consideration while wagering?
Although overall wagering seems like a simple principle to follow, we understand that some casino rules might become confusing. This section will explore some wagering facts that you should keep in mind while going through this condition.
The maximum bet rule
Since this one is the most important aspect you should be aware of while wagering, let us explain it in depth.
Example:
An imaginary casino has a rule that says the maximum bet while wagering is 20%, but not exceeding $10.
Let’s say you’ve just played a set of free spins and unlocked a winning amount of $100. In this case, you’ll need a simple calculation to find out what your maximum bet should be.
$100 → 20% of $100 is $20, but the casino’s maximum bet is $10 → your maximum bet will be $10
Here is one more example, in case you win $20 from your bonus:
$20 → 20% of $20 is $4 → your maximum bet will be $4
If you don’t bet within the maximum amount while wagering, you are prone to breaching the terms and conditions.
Wagering contribution
We’ve discussed that wagering is the total amount you need to bet to withdraw your winnings. However, going through this condition for a bonus you got at a casino also depends on the wagering contribution of the games.
But who decides what percentage contribution each game has? The answer is simple: the casino itself. So, this is why it is highly recommended to check the T&C and see how each game’s wagering contribution might affect your gameplay.
Here are some examples:
1.
You need to wager $1000, and you place bets of $5.
⬇️
You choose the game Book of Dead, and you place your first $5 bet.
⬇️
Because the wagering contribution of Book of Dead is 100%, your bet is fully withdrawn from $1000, and you remain with $995 left to wager.
2.
You need to wager $1000, and you place bets of $5.
⬇️
You choose the game Big Bass Splash, and you place your first $5 bet.
⬇️
Because the wagering contribution of Big Bass Splash is 50%, only half of $5 is withdrawn, which is $2.5. So, $1000 – $2.5 = $997.5 left to wager.
Don’t forget that for most bonuses, the time you can finish wagering is limited. Some casinos might put a limit of 24 hours or 7 days, and when it expires, so do your winnings.
Conclusion
When wagering, many aspects must be considered. It really depends on what kind of bonus you get and whether the casino has many restrictions. We strongly believe that you should only play for fun and follow gambling tips in case you think you’re prone to issues.
