The term “Wagering requirements” is frequently used in the world of online casinos. Although it is used often, not all casino players understand what it means.
What’s more, the wagering requirement of online casinos often differs. Based on this, a better understanding of the term “wagering requirement” will help your gaming. In fact, you could win a few more games after reading this.
Therefore instead of pushing it aside and hoping it would not affect your game, take a minute to educate yourself about it now!
Let’s start with the wagering requirement’s definition.
What is a wagering requirement?
A wagering requirement is the condition or rules set out by an online casino regarding how players will use their bonuses and free spins.
Also, these conditions are imposed by the casino to prevent players from abusing their offer.
Usually, online casinos offer perks and free spins to lure and engage players.
These perks could be welcome bonuses, free spins, deposit bonuses, bonus credit, etc. weekly or seasonally.
Unfortunately, most online casino players believe that these free perks allow them to cash out real money at the online casino. In reality, this idea is far from the truth.
How to calculate wagering requirements?
Bear in mind that if a wagering requirement of an online casino is NZ$5,000, it doesn’t mean that the player must lose NZ$5,000 to fulfill the requirement.
In most cases, online casino players meet the wagering requirement without knowing it.
For instance, most online slots have a Return to Player (RTP) percentage of about 95 percent.
The remaining 5 percent is the house edge. If the RTP is 95 percent, it means that the slot pays out NZ$95 of every NZ$100 you wager.
Therefore if a player wagers $5,000, theoretically, the player is expected to receive not less than NZ$4,750 as winnings.
It could be more but hypothetically that’s the minimum amount a player is expected to win after wagering NZ$5, 000 on a slot game over time.
In the past, most online casino players opted for games with very low house edge like blackjack and roulette with approximately 0.5 or 2.25 percent in most cases.
Based on this, the casino introduced a condition that not all games contribute to the wagering requirement.
What is a fair wagering requirement?
A fair wagering requirement is one with a low wagering condition. If the wagering requirement is harsh and high, it is completely useless.
Apart from that, a high wagering requirement makes it almost impossible for a player to win.
For instance, a waging requirement of 50x makes it very difficult to win at an online casino.
In other words, a fair wagering requirement should be at least 10x, 20x, or 30x. When it is higher than this, it becomes impossible to win and cash out.
No wagering requirement
As appealing as a no wagering offer may sound, it is crucial to mention that these types of bonuses often offer only free spins. Also, you may not be offered a free fund in most cases. However, it remains a good offer.
Nonetheless, if you opt for this type of bonus, you will still be required to deposit real money.
Then after you have made the deposit, the free spins and all your funds earned will be available without wagering the amount. In other words, the only difference is that you won’t have to fulfil a wagering requirement on your bonus winnings.
Since you now have a better understanding of a wagering requirement better, carefully choose the best online casinos with fair wagering conditions.
Consequently, that’s the only way to win and cash out from an online casino.
Finally, stay away from harsh and high wagering requirements like 50x above. There is no way you can win and cash out here.
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