Wagering requirements are among the most frightening and anxiety-inducing terms related to gambling online. Sometimes it may be challenging to believe that such a term is connected to a predominantly relaxing activity such as online gambling.
Additionally, since slot games are among the most popular casino titles, both land-based and on the internet, understanding wagering requirements when playing online slots is a logical concern.
Regardless, the online gambling sector records more and more players almost daily across all game categories. Obtaining generous bonuses while playing the game seems to be most punters’ priority. However, newcomers to the world of internet gambling usually struggle with wagering requirements.
This notion is among the most confusing for new online gambling enthusiasts, and misunderstanding it may cause numerous problems down the road. We’ve come up with a guide below that tackles this issue from the fundamentals to the current online gambling market. Let’s begin.
Wagering Requirements When Playing Online Slots: The Basics
The root of the term “wagering requirement” is the word “wager.” Therefore, when looking to understand this expression thoroughly, understanding the definition of a wager is the first order of business.
A wager between two individuals is the same as a bet, but this word takes on a slightly different meaning in the casino world. In the context of casino gambling, a wager is the amount of money players stake on each sports match, slot spin, hand of cards, and the like. Additional meanings of this word include the total amount of money you’ve bet in your career, a specific period, and even a single session.
One might ask how you go from a wager to wagering requirements. Understanding the latter requires going through a typical registration process at an online casino. Once you decide you’d like to join an internet casino (or use a bonus offer at a casino where you already play), you’ll need to choose one or a few of many.
Common examples of casino promotions include cash bonuses, free bets, and free spins. However, almost all online casino offers have conditions attached to them, usually called wagering or playthrough requirements. These conditions state that players must wager a certain amount of money before being allowed to collect winnings made with the bonus.
The reason for introducing wagering requirements is straightforward. From the casino’s perspective, the goal of operating as a business is to generate a profit. If a casino offers free perks (bonuses) to players without anything in return, that’s a flawed business model. Additionally, if players use the free perks to win even more, a casino would go bankrupt reasonably soon.
Therefore, operators attach these conditions to protect themselves from going out of business while still providing players with an opportunity to win. The wagering requirements when playing online slots are among the most famous examples of such conditions, so join us as we examine them below.
Understanding Wagering Requirements With A Practical Example
An additional complication frequently plaguing new casino players is that these conditions work differently for each casino promotion.
If we look at a cash bonus, the casino usually imposes a specified multiplier that punters need to bet through before withdrawing bonus funds with any related winnings. For instance, a cash bonus offer could feature a 30x wagering requirement.
How does this condition apply to you? The way you should interpret playthrough requirements is that you would need to bet your bonus amount 30 times before the casino allows you to cash out the bonus and any winnings from it.
However, the situation is slightly different when it comes to free spins-related playthrough requirements. The wagering requirements when playing online slots are characteristic. In other words, the conditions only apply to the winnings players get from the free spins.
Lastly, you will also encounter these requirements when it comes to free bets. If you’re a sports betting fan, you may come across various conditions in this regard. For example, a casino (sportsbook) may require you to only bet on sports with specific odds. Another requirement might be to deposit a certain amount of funds before you can collect the bonus.
Calculating Wagering Requirements When Playing Online Slots
You can use a straightforward and easy-to-remember formula when you need to calculate an offer’s playthrough requirements. You’ll get a baseline by introducing your specific numbers into the equation, which is as follows:
(Bonus Amount) x (Wagering Requirement) = Total Bet
Imagine a scenario where your deposit is $50, and you receive a 100% deposit match bonus (another $50). If you also add a 30x wagering requirement, you get the following:
($50) x (30) = $1,500
However, you can also end up with a sticky bonus depending on your chosen casino. While calculating wagering requirements when playing online slots, the “sticky” part of the bonus refers to including the initial deposit in the formula. The new formula is slightly different from the initial equation:
(Bonus Amount) + (Initial Deposit) x (Wagering Requirement) = Total Bet
Once you replace the values from the numbers from the previously mentioned example, you get the following:
($50) + ($50) x (30) = $3,000
You shouldn’t feel intimidated by the seemingly high total bet values. Contrary to popular belief, meeting these values isn’t impossible. You can place wagers using the winnings from the bonus money. If you play intelligently, you’ll be able to fulfill the WR and still have some profit left over. Alternatively, you can use an online WR calculator (as mentioned above) to eliminate the potential of human error.
Slots have been the most popular casino games ever since their fruit-symbol days, mostly because they are effortless and take moments to learn. They feature minimal player input and sometimes yield life-changing jackpots, making them a no-brainer for casino games. However, online titles also feature playthrough requirements players must meet before they can withdraw their winnings.
The wagering requirements when playing online slots require a serious approach. You should aim to understand and ultimately beat the WR, but this goal is far from unattainable. Keep a cool head, gamble responsibly, and there’s no reason not to have a fun time playing these games. Good luck!