What Are Wagering Requirements In Casino?
So, you have successfully registered a casino account as a new player and claimed the welcome bonus. Big congratulations! Hopefully, you don’t wish just to claim that bonus, but cash out the winnings in real-time. Is it so? Yes, then you must know that you would not be able to withdraw the credited bonus unless you satisfy the certain wagering requirement of a casino you’re playing at. Does the term “wagering requirement” seem strange to you? In this guide, you will learn many things about the wagering requirement to effortlessly hit the Canada casino online and start collecting the bonuses.
So, What Exactly The Wagering Requirement Is?
The wagering requirement, also known as the playthrough or turnover requirement, refers to the amount of money that a player has to bet for a certain number of times before withdrawing the bonus and all associated winnings. For example, you are rewarded $500 as a bonus with a 50x wagering requirement. Then, you have to spend $25,000 on an eligible game before withdrawing the pending bonus winnings credited into your account.
Not just the welcome bonus, but almost every type of casino bonus come with specific wagering requirements. One thing that you must clearly understand is that bonuses you’ll be awarded while playing casino games online are the deposit into your bonus account. So, don’t consider it a real cash balance. For this, you have to find out the wagering requirement that is usually given in the bonus terms and conditions.
How Do Wagering Requirements Work?
So, you have understood what is a wagering requirement, now it’s time to find out how it works. You will simply have to wager the cash bonus through a certain multiplier before withdrawing any bonus and related winnings. You might have to satisfy the wagering requirements when you bet free spins. But, in this case, the multiplier is applied only to the winnings obtained from free spins. The reason is that free spins do not come with a cash amount. Based on the Canada casino site you’re selecting, you might need to deposit a particular amount before gleaning the bonus or simply place wagers on any sporting event with specific odds.
Mathematically, it can be calculated as:
Bonus x wagering requirement = total bet
Bonus + money deposited x wagering requirement = total bet
For example, your casino rewards you a bonus of $100 on making the deposit of $10 with a wagering requirement of 20 times the bonus and deposit. Then, mathematically, it will work in the following ways: –
$100 (bonus) + $10 (deposit) x 20 (wagering requirement) = $300
That means, to make a cash withdrawal of credited bonus, you have to wager a total of $300. But, remember one thing that it would not be compulsory that you have to wager your deposit amount as well as a bonus to meet the wagering requirement. Whether you have to include either your bonus amount, deposit amount, or both deposit and bonus will clearly describe in the terms and conditions.
If you are weak in Mathematics calculations, then make the best use of the wagering requirement calculator to accurately determine the amount you have to bet. Using this calculator is quite a simple task. All you have to do is simply enter the information in the required fields. It includes deposit amount, bonus amount, wagering, deposit plus bonus, and contribution percentage. The calculated figure will be in a numerical format so it might be valid in all the currencies. Canadian players can simply add their currency symbol (Canadian dollar) at the beginning of the calculated value to identify the amount they have to wager.
Contribution Of Different Casino Games Towards Wagering Requirement
Stakes on all the casino games do not count 100% towards satisfying the wagering requirements. It may vary from one game to another based on the standard game weightings. The contribution percentage refers to the amount of bet a player has to place in a particular game towards clearing the wagering requirement of a specific bonus.
“Thumb rule: The better the RTP percentage, the smaller the contribution percentage”
According to this thumb rule, low-RTP games including bingo may meet the wagering requirements faster because almost every slot contributes 100%. While high-RTP slots, table games, and live dealer games have low contribution percentages. There are some games that do not contribute anything towards clearing the wagering requirements. So, make sure that you properly verify the bonus terms and conditions to determine eligible and ineligible games.
What Is Game Weighting In Online Gambling?
It refers to the percentage of bets that will count towards satisfying the wagering in a given game. Stakes on some of the casino games might have a certain percentage contribution towards the bonus wagering requirement. For example, slot games will contribute 100%, video poker 30%, Punto Banco 0%, Texas Hold’em Poker 10%, Keno and Bingo 0%. To get an idea of the standard game weightings, check the terms and conditions of each bonus or promotion.
Wager-Free Casino Bonus Offers
As the name depicts in itself, a wager-free bonus is a bonus offer that has no wagering requirements attached to it. This is one of the most advantageous offers that can be snatched up without any delay. Even you don’t need to make any deposit before availing the true benefit of it. They may be available in the form of wager-free free spins or no deposit bonus offer. Online casinos usually offer this promotion to gain the attention of new players and encourage them to sign-up immediately. The plus point is that winnings obtained from these bonus offers can be withdrawn right away. Only a few of the casino sites will require players to make a deposit before they request the withdrawal.
Time Limit To Meet Wagering Requirements
To get an idea of whether the wagering requirement is worthwhile, it is essential to read the small print and determine the time limit. Some casino sites might require players to fulfill this condition within 30 days, while others may apply the time limit of 60 days or 90 days. The bonus money will be lost if a player fails to wager a certain amount within a specified deadline. So, your focus should not be only on the size of the bet, but the time limit as well.
Wagering Requirement For Sticky Or Non-Sticky Bonus
In a sticky bonus, the deposit is linked to the bonus funds immediately. Hence, players would not be able to withdraw until they meet certain wagering requirements. Non-sticky bonuses can be used to play the games without requiring the need to wager more as the deposit amount has no wagering requirements. Non-sticky bonus winnings can be cash out instantly given the amount has been forfeited.
Can I Avoid The Wagering Requirement?
No, the wagering requirement is not an optional thing that can be avoided. Even if you get sick of this bonus term & condition, it can provide you quality time to enjoy other slot machines or jackpot slots. Avoiding these requirements not only prevents you from withdrawing the bonus, but it can also take away your credited bonus. Your bonus will be forfeited if you fail to meet the wagering requirement within the deadline. So, if you want to avail your bonus, then fulfill these requirements.
Pick The Right Online Casino In Canada
As you read in this article, it is clear that considering the wagering requirement plays a vital role in getting the most out of online casino adventure. Before selecting any casino site and signing up to it, make sure that it is fully licensed by a trustworthy gaming authority and offers reasonable wagering requirements. Figure out if there is a cap on the number of winnings. A reputable casino operator clearly displays the relevant terms and conditions to let players find every important information.
Nearly all the top online casinos in Canada such as Jackpot City, Royal Vegas, Ruby Fortune, and Spin Palace have the same wagering requirement of 50 times. If you’re looking for the casino with a low wagering requirement, then register with Casumo or LeoVegas having the requirement of 30x or 35x respectively. Pick any of these sites after reading the terms and conditions to ensure that you would not have to forfeit your bonus.
Wagering requirements might seem very boring in the beginning, they will be quite better for you at the end of the day. Most of the lucrative bonuses, promotions, and special offers are provided just because of these requirements. To successfully meet the wagering requirements, read the fine prints thoroughly & carefully, and make sure that a casino has a favorable balance of bonus money and wagering requirement. Determine which game is eligible and what percentage of wager it contributes. It is recommended to play low RTP games having high variance as they pay larger amounts whenever they payout.