Before signing up at online gambling sites and raking in the winnings, you need to learn a thing or two about wagering requirements.
What are they, and how do they work? Is reading the fine print really that important?
Our guide has all the answers.
What Are Wagering Requirements?
Simply put, wagering requirements show many times you need to bet the bonus before it becomes real cash you can withdraw to your wallet.
Wagering requirements vary between online casinos and even between one bonus and the next. That said, most range from 35 to 40 times the bonus, although some casinos and betting sites have higher wagering requirements of 60 times the bonus and over.
Calculating Wagering Requirements
Now, here’s the fun part! The formula to calculate how much you need to wager is quite simple.
All you have to do is replace the values you have in this straightforward equation.
(Bonus Amount) x (Wagering) = Total Bet
For example, you claimed a bonus of £10, and there is a 40x requirement. The equation would then look like this:
£10 x 40 = £400
Since your winnings have a 40x requirement, to withdraw them, you will first have to spend £400 in the casino.
Of course, there are some other things to consider.
Calculating Wagering Requirements on Deposit Bonuses
Sometimes, a casino could require you to wager both the bonus and the deposit.
Deposit match offers are essentially bonus money equal to the amount you deposit. Most gambling websites use this for promotions, and if these are your requirements, then the computation changes slightly to:
(Deposit) + (Bonus Amount) x (Wagering) = Total Bet
£10 deposit + £30 bonus x 40 wagering requirement = £1600
So, you would have to spend £1600 before you can withdraw any winnings from the casino.
Calculating Wagering Requirements on Free Spins
One of the most common promotions you would find at the best online casinos are free or bonus spins.
In this case, you would need to calculate the wagering requirements based on how much you win.
So, if you claimed 20 free spins with a 35x wagering requirement and you won £5, then you would have to spend £175 to get your winnings.
£5 (free spins wins) x 35 (wagering requirement) = £175
What Else Do You Need to Know?
Here are a few things you must be aware of before you start to place bets:
Online gambling sites usually have restrictions on maximum bets, usually set at a limit of £5 per game. This means that it would take you longer to play through the bonus.
Every game has different contributions to the requirement. Table games usually only contribute 10 to 20%. For example, you claimed a £100 bonus and the wagering requirements are 35x, meaning you have to wager £3,500 to get your winnings. If poker contributes 10% to the wagering requirements, only £10 out of every £100 you bet counts towards the £3,500.
Most wagering requirements are set within a given time period, making it even more important to read the fine print and see how long you have to wager the bonus before it expires.
How to Beat Wagering Requirements
Wagering requirements cannot be beaten, but there are a few things to keep in mind to avoid losing too much at your favourite sportsbook.
Make sure to read the T&Cs
The terms and conditions are possibly one of the most important pages on an online gambling site. They usually list all the wagering requirements, minimum deposits and withdrawals, so make sure you go through them with a fine-tooth comb before staking any real cash.
Pick the Right Casino
Before you sign up for any online gambling websites, make sure that it is licensed by the UK Gambling Commission. This way, you are sure that this casino adheres to laws, regulations, is trustworthy, and has high-level security.
Another good tip is to look for casinos that have low wagering requirements, or better yet, try one of the casinos with no wagering requirements in the UK. These can vary from one casino to another, so to increase your chances of meeting the wager, always go for promos with the lowest requirements you can find.
Don’t worry about winning big
Once you get this idea out of your head, it’s pretty easy to focus on the main thing: having fun.
Slots count 100% towards the wagering requirement you have to meet to cash out, so if you want to “beat” the requirements, focus on slots instead of table games.
Now that you’re knowledgeable in wagering requirements, you’re now primed to make your first bet! As long as you consider what is best for your playing style and needs, you’re good to go!
Frequently Asked Questions
Can I withdraw winnings from a free bet?
No. You must use your free bet to make a bet. If that bet wins, you can withdraw your winnings, but not the free bet stake.
In terms of actual money, it looks like this: The site offers a £10 free bet as a welcome offer. You use it to wager on a horse at 5/1, and you win, getting a return of £60 (£50 in winnings and the £10 you already staked). You will only get £50 back and not your original stake. Then you would have to play through your winnings (depending on the wagering requirement) to withdraw them in cash.
What does a 10x wagering requirement mean?
A 10X wagering requirement means that you are required to wager the amount of your bonus ten more times to collect your subsequent winnings.
What does ‘no wagering’ mean?
No wagering means that the bonus or free bet does not have any wagering requirements attached to it. In other words, a player can keep all their winnings and is free to withdraw real money without meeting specific conditions.
Are you guaranteed to beat wagering?
No. wagering requirements are a necessary evil in the gambling world, and there is no way around them. Having said that, there are some strategies you can use, like looking for casinos with low wagering requirements or playing games that contribute towards a high total of your wagering requirement.