What are Wagering Requirements? Casino Wagering explained
Bonuses and special promotions are important as they extend our playtime significantly. However, in our excitement to claim the best online casino bonuses we forget to check the finer print of the offer, often failing to notice the wagering requirements attached to that offer. In this article, we go over the different kinds of wagering conditions, explore the possibility of any online casinos without wagering requirements, reveal which are the casinos offering free spins with no wagering requirements, while indicating which are the online casinos with low wagering requirements. Furthermore, we will strive to put together everything we know about wagering terms imposed by casinos to allow you to make informed decisions when choosing a casino and deciding which bonus to claim.
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What are Wagering Requirements?
We all love bonuses whether they come in bonus money or free spins. However, one thing that we must keep in mind when we claim a bonus is the wagering requirements imposed by casinos. A wager is the equivalent of a bet placed on any casino game. Wagering requirements are usually attached to bonuses and require the player to wager that bonus a number of times before any winnings can be claimed and the bonus money converted into real money. Wagering conditions can be attached to both the bonus money and free spins. To best illustrate what wagering terms are we have come up with the below examples:
- A casino welcome bonus consist of a 100% deposit match of up to $200 with x35 wagering requirements - let us say that a deposit of $20 was placed at a particular casino with an additional $20 added to the balance by the casino as bonus money, increasing the bankroll to $40. Since this offer comes with a wagering requirement of 35 times the bonus + deposit amount, it is required to wager $1,400 before any funds won with those $40 can be withdrawn.
- 25 free spins with a wagering requirement of x40 - Since free spins don't usually have a particular monetary value, any wagering conditions are imposed on any winnings received from those free spins. If for example $50 were won from the 25 free spins, these need to be wager 40 times before they can be converted into real money.
Different casinos have different wagering requirements, thus it is important to check before claiming any bonus to establish beforehand how much you need to wager to claim any winnings.
Online Casinos without wagering requirements
It is very hard to find a casino without any wagering requirements. Casinos do sometimes come up with online casino offers with either low wagering requirements or no wagering conditions at all. Another possibility to receive funds by a casino without having wagering prerequisites is by participating in tournaments and competitions where the prizes will be awarded in cash prizes right away and can be withdrawn by the players once they are credited to their accounts.
Finding a casino that offers no wagering requirements at all is unusual and as we shall see further down in this article, not wise. We advise you to check out, our news and offer pages regularly for any new wager free offers we might come across since we promise to do our best to keep you updated with such promotions.
Free Spins with no wagering requirements
Casinos do offer occasional no wagering free spins, although it is worth noting that it is the exception rather than the rule. Still, we have managed to locate a number of casinos accepting Candian players who offer no wager free spins.
LeoVegas - up to 122 no wager free spins
LeoVegas' free spins offer awards to each new player with 22 no deposit wager-free spins PLUS up to 25 free spins with no wagering requirement on each of their first 4 deposits. The number of spins you can get each time depends on the amount you deposit, and the welcome offer also comes with a deposit match bonus alongside the free spins!
Videoslots - 11 wager-free spins
Boasting one of the biggest games collections out there, Videoslots casino is giving every player who registers and makes his or her first deposit 11 free spins without any wagering requirements.
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Online casinos with low wagering requirements
The standard wagering conditions for a casino are between 20 times and 40 times either the bonus money only or including your own deposit as well. (More on this further down below.) Occasionally we do come across online casino offers with lower wagering terms and one such casino is LeoVegas. Reputably one of the best online casino bonuses out there, the LeoVegas' welcome bonus delivers to newly registered players a bonus over the first 4 deposits consisting of both bonus money and free spins with only x10 as wagering requirements.
- 1st deposit - up to $100 in bonus money and up to 25 free spins
- 2nd deposit - up to $300 in bonus money and up to 25 free spins
- 3rd deposit - up to $300 in bonus money and up to 25 free spins
- 4th deposit - up to $300 in bonus money and up to 25 free spins
How much bonus money you receive and whether you receive the 25 free spins in full depends on the amount you deposit. This is one of the best online casino bonuses out there as it comes with a wagering requirement of only x10 on the bonus, and with no wagering requirements on the free spins. If you want to learn more about this welcome bonus and check-out the terms and conditions you can click on the LeoVegas link below.
Why do casinos have wagering requirements?
Wagering requirements have an important role amongst casinos for two very important reasons. The casino cannot offer bonus money to each player without requiring a commitment as many players would sign up with the intention of claiming the bonus and then withdrawing it straight away without playing or depositing any money. This would be unfair for the casino and also very dangerous as it would create the perfect opportunity for criminals to clean illegal money by depositing and withdrawing funds, as well as creating a mechanism of moving money from one place to another. It is worth pointing out that wagering requirements are a pre-requisite of regulating bodies around the world as a way to counteract money laundering.
Games contribution to wagering requirements
Online casinos feature different types of casino games on which to bet bonus money, however, a careful look at the terms and conditions would reveal that not all games contribute equally towards the wagering requirement. Often slot games contribute 100% towards the wagering conditions, although some casinos might have a list of slot titles that are not included and don't contribute anything. Table games, including Live Casino, often contribute only up to 25%, while video poker's contribution would often be 0%. Not all casinos offer the same terms and conditions when it comes to reaching the wagering specifications, thus it is important to read the fine print before signing up for any bonus.
Wagering of bonus money only / including deposit
Some online casinos require that only the bonus money assigned to the players is wagered a number of times. On the other hand, certain casinos request that both the bonus money and your own deposit money must be wagered before any withdrawals can be requested. Let us take a look at a few examples to better understand this concept:
- Wager bonus money only - $20 bonus money x 30 times the wagering requirement = $600 in wagers before any winnings can be withdrawn
- Bonus money + deposit money - $20 deposit money + $20 bonus money = 40 x 30 times the wagering requirement = $1,200 before any winnings can be withdrawn
Maximum bet allowed whilst wagering bonus money
Cheating casinos by betting the highest bet possible on any game to reach the wagering requirements quickly won't work as casinos restrict betting with bonus money up to $5 only in most cases. Another thing to keep in mind when betting bonus money is the possibility of the casino applying capping on winnings, which might limit your winnings while you are using the bonus money to place bets. Again we cannot stress enough the importance of reading the terms and conditions as these will provide you with all the knowledge you need to have before claiming a bonus offer.
How to beat the wagering requirements of a casino
Beating the wagering requirements imposed by casinos is not impossible. One of the best strategies players can employ is to do their research to locate the casinos with the lowest wagering requirements and best terms and conditions. Choosing a licensed casino is a must to ensure the highest security and trustworthiness, as regulating bodies insist on strict regulation and clear terms. Furthermore, read the terms and conditions in full. Ignoring the all-important fine print means you risk breaking the bonus terms, forcing the casino to remove the bonus.
When it comes to reaching the wagering requirements, perhaps the best option is to play the slot games that contribute 100% towards the wagering terms, as other casino games would contribute a much smaller percentage, lengthening significantly the process of reaching the wagering requirements. And remember, the higher the RTP of a slot game, the likelier it is to still make a profit after the wagering, so do consider which games to use your bonus on, if the casino allows flexibility in this regard.
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