Welcome to Casino Pirate. We’re here to provide you with amusement, information, and a chance to try your luck—and hopefully make a fortune! We at Casino Pirate believe in delivering the best experience possible to our valued and respected players. In order to do that, you need to know about wagering requirements.
If you’re an Old Salt you needn’t be here, but here you are, so Avast Ye and comprehend what wagering requirement is all about when it comes to online casinos!
What is a Wagering Requirement?
A wagering requirement is a technique that casinos use to keep you playing and ensure that your amusement does not come to a halt abruptly.
The wagering requirement, in short, can help you win big by keeping you and your head in the game for a longer period. (Of course, this also gives the casino a chance to win their money back!)
A wagering requirement is the number of times a player such as yourself has to play through (either the deposit + the bonus, or simply the bonus) before you are qualified and eligible to cash out at the online casino. The number aforementioned is assigned by a professional risk management team representing online casinos.
In general, the greater the amount presented for the bonus, the greater the wagering amount set against the bonus amount will be. The requirements for play through can range from about 50x for the stricter bonuses to as low as 10x for the less strict bonuses. Some casinos don’t even have wagering requirements!
To further elaborate the concept of online wagering requirements here is an example:
Suppose the wagering requirement assigned by the risk management team is 10x and the bonus that is being offered is 100% up to €100. Taking advantage, you decide to deposit €100 to unlock the maximum bonus of €100.
This means you would have to wager 10x the bonus before you can withdraw any winning yielded by it. The equation would look like: 10 x €100 = €1,000
So in the example above, you as an online player would have to play through the amount of €1000 worth of bets before you’d be able to meet the required wagering amount for the bonus and qualify as eligible for cashing out the won amount.
Now the query arises whether the wagering requirements alter for different games or they remain the same for all of them. The answer is usually “no” but sometimes casinos expect to you to take a certain amount of risk for it to count towards reaching your wagering requirements. This is usually not the case in slots, but for sports betting you would be expected to make bets of double or nothing, or riskier bets.
I hope this helped, ye scallywags!