HOW WAGERING REQUIREMENTS WORKS IN ONLINE CASINO
Have you ever claimed casino bonus but not able to withdraw your winnings due to wagering requirements? Or maybe you did not understand well the concept and you find them confusing to calculate?
In this blog, we will provide a valuable information and explanation on how wagering requirements works in an online casino. Keep on reading and follow our advise and you will never be left without your winnings.
What are Wagering Requirements in an online casino?
There is no such thing as free money when it comes to betting. Even though, many online casinos offer tempting deposit offers and bonuses which you need to wager certain amount to withdraw your money.
A wager is another term for a “bet” placed on any casino games like slots, poker, roulette, lottery, rummy, sports game and etc. When you claim a bonus from a casino, the money you receive is paid in bonus money to a real cash. Bonus money cannot be withdraw, you have to finish the wagering requirements first before you can apply for withdrawal.
A wagering requirement is the amount of money that a player need to play and wager before being allowed to make withdrawal. Once you complete the wagering requirements your bonus will turn into real money. But if you don’t meet the required wagering amount, your bonus money will not be converted into real money for withdrawal and it will be forfeited if the required time period already ended.
How to Calculate the Wagering Requirements?
This is the most important part, to understand how wagering requirements work and how to calculate it. There are set of different factors to figure out how to calculate the wagering requirements or how much you need to play and bet before you can make withdrawal.
1️⃣ First, it depends if the welcome bonus is a free spins bonus or a deposit match offer. If you claim a free spins bonus, you have to complete the requirements based on how much you win. Let’s imagine you have claimed 10 free spins with 5x wagering requirement and you won ₹15 while playing.
Example: ₹15 (Free Spins Win ) x 5 (Wagering) = ₹75
This means that you need to complete wagering requirements of ₹75 before you can make withdraw.
2️⃣ Second, it depends if the deposit bonus is included or excluded from wagering.
If you claim 35% deposit bonus and the wagering requirements exclude your deposit, you have to calculate the requirement based on the bonus you get. Let’s say that you have received ₹175 deposit bonus after depositing ₹500, with 10x wagering requirement.
Example: ₹175 (Bonus) x10 (Wagering) = ₹1750
Using the above example, let’s say that to finish the wagering requirements, you also need to add your deposit amount.
Example: ₹500 (Deposit) + ₹175 (Bonus) x10 (Wagering) = ₹6750
Why Online Casinos Have Wagering Requirements
Casinos use wagering requirements as a way of reassuring people to play their games consecutively. The players are required to wager before obtaining their bonus offer. It is done to avoid players from taking advantage of the bonuses and running away without playing anymore.
We hope that this guide is helpful for you. If you are ready to apply your newly found knowledge about wagering, why not check out and join at 11IC and find casino bonus that best fits your bankroll.