As you may be aware if you’ve ever played in an online casino and taken advantage of welcome or loyalty bonuses you will be all too familiar with wagering requirements. But if you’re new to online slots at Slots Racer and the world of online gambling, it’s important that before you accept any welcome bonuses that you understand what wagering requirements are what this means for your winnings.
Wagering requirements, also known as betting requirements, are a necessary evil which helps casinos comply with anti-money laundering regulations. If there weren’t any wagering requirements, the industry would be rife with money launderers taking advantage of online casinos and there wouldn’t be any bonuses and promotions for players to take advantage of, which would be a huge shame!
Pretty much every bonus player’s claim when playing in an online casino will go hand in hand with wagering requirements which dictate that players are required to bet their bonus amount/deposit amount a certain number of times before they are able to “cash-out” and pocket their winnings. They are essentially rules that are put in place by online casinos to stop players simply accepting the bonus and running away with their winnings! This would mean the whole casino industry would collapse and no more casino games for anyone to enjoy – so this is why we are calling it a necessary evil!
It’s very important for players to check what the wagering requirements are before accepting any bonus or promotions, otherwise, when it comes to withdrawing your winnings after a big win, you might find that you aren’t able to walk away with your winnings if you haven’t met the betting requirements. This would be highly frustrating, so to avoid this, make sure you know what you’re letting yourself in for by reading the wagering requirements carefully before accepting. The majority of online casinos will be transparent and tell players clearly how much they are required to wager – however – if you can’t find this information anywhere, this doesn’t mean there aren’t any wagering requirements, so be sure to contact customer support for more clarity on when you will be able to withdraw your winnings.
A lot of online casinos simply require that players bet the bonus amount plus the deposit amount a certain number of times in order to satisfy the wagering requirements. For example, if you were to accept a deposit bonus of £200, and the wagering requirements were 10 x the total bonus, you would then be required to bet £200 a total of 10 times before you would withdraw your winnings. It is also common for online casinos to have wagering requirements of 20 – 40 x in total, with some even higher which could be unsuitable to some player’s bankrolls.
You can get wagering requirements down however if you bet on games at the casino and slots generally count the most towards wagering requirements.