What Are Wagering Requirements?
Firstly, you’re probably wondering what wagering requirements are. Well, they’re basically the number of times you need to wager something before you can withdraw winnings. Most bonuses available at online casinos have wagering attached to them.
When online casinos first launched, they suffered a loss as some people signed up, claimed the bonus funds and other promotions and left after withdrawing the money as soon as they could. Wagering requirements are a way for casinos to stop themselves from being abused this way and it helps keep bonuses fair between the player and casino, as long as the wagering requirements aren’t too high of course.
Wagering requirements usually involve you having to wager your bonus funds a certain amount of times. However, some casinos may ask you to wager the bonus funds and your initial deposit combined before you can successfully withdraw something. If a casino does this, you may notice it reads as “25x bonus and deposit” in their terms and conditions which may look low but it actually isn’t. It actually means you have to wager your bonus funds and your deposit 25x each before you can withdraw anything, which can actually add up to a lot.
For example, if you claim a 100% match bonus of up to £200 with a wagering requirement of 35x your bonus, you’ll have to wager your funds of £200 37 times. This means you’ll have to place £7,000 worth of wagers to clear the bonus.
It’s important to read through the wagering requirement when claiming a promotion or bonus so you know exactly what you must do before you can withdraw winnings. After browsing around, you may spot some exciting bonuses but on closer inspection, their large wagering requirement can be off-putting and cost you more in the long-term.
So it’s no wonder people are searching for low wagering casinos, you can claim great bonuses and spend less completing the wagering requirement!
What Is A Low Wagering Casino?
Most casinos carry a wagering requirement of 40x but it’s also common to find casinos that have wagering requirements of 50x and 60x. Generally speaking, most online casinos don’t go over 60x wagering and anything below 40x and 30x can be seen as low wagering.
While it’s rare that a casino will go over a 60x wagering requirement, it has happened. Back in November 2018, a user named brianmon from the CasinoMeister forum received a promotional message from Ikibu casino, announcing a brand new offer with a 90x bonus wagering restriction with a maximum win too.
An important thing to remember is that while low wagering casino may be great for featuring smaller wagering requirements, they often don’t offer the huge bonuses you see at other online casinos. But what’s the point of going for a huge bonus if you spend it all by trying to fulfil the wagering?
While the smaller bonuses may be somewhat disappointing for some players, there are actually several benefits to playing at low wagering casinos.
The Benefits of Low Wagering Casinos
You might be wondering now why low wagering casinos are so good. Well, there are actually several benefits to them. The most important is that you’re actually far more likely to get a better deal with a low wagering casino when it comes to bonuses than you are with a regular casino.
This is because less money is required to complete wagering, which means you’re more likely to have money by the time you can withdraw because you don’t need to wager as much compared to casinos that have higher wagering requirements.
In addition to this, you’re much more likely to fulfil a low wagering requirement before the bonus expires compared to a larger requirement, allowing you to actually be able to withdraw whatever you have left in winnings.
How Does Wagering Work?
Wagering requirements basically begin the second you deposit and claim a claim a bonus. Once this is done, you’re going to need to fulfil the wagering requirements before any winnings can be withdrawn.
To do this, you’ll just need to load up a casino game that contributes to your wagering requirement and play it. Depending on the contribution percentage, every wager you place should be deducted from your wagering requirement. Eventually, you’ll have completed the requirement and will have the option to withdraw your winnings.
However, you may find that you’ve actually used up all of your bonus money when trying to complete the requirements at online casinos with high wagering. But you don’t need to worry, you can simply deposit again and continue playing.
When trying to complete the wagering requirement connected to your bonus, you may find that certain games either contribute little or nothing to your requirement, and that’s completely right. Casino games contribute differently towards your requirement, so it’s important to read through the terms and conditions to find out which games work best.
The reason this happens is because the higher the RTP% (Return to Player) is, the less it will contribute towards your wagering requirement. Video slots generally contribute 100% towards wagering requirements unless they have an RTP higher than 97%.
In fact, slots with a high RTP% and table games like baccarat, roulette and blackjack may actually contribute as little as 10% to the overall requirement, making it harder to fully complete it.
This means you may need to play games you don’t like or otherwise wouldn’t play just to get through the wagering requirement. As mentioned above, playing at a low wagering casino means you’ll be able to clear the bonus quicker than at other casinos, restricting the time you’d have had to play on a game you didn’t enjoy.
Along with contributions, some casinos impose a wagering limit when users are playing with bonus money or spins. The restriction can either be a percentage of the original bonus amount (Like 10-15% of the bonus) or it can be a fixed sum of something like £4.
This can dramatically increase the time it takes to fulfil the wagering requirement, particularly if you only have several days before the bonus expires. While low wagering casinos also have maximum bets, the overall wagering requirement will be lower so you’ll be able to clear the bonus faster.
In addition to the maximum bet, several online casinos impose a maximum win to stop users from taking home too much money. This normally only applies to no deposit bonuses and bonus spins, but you can still catch them elsewhere. Basically, a maximum win stops you from withdrawing a certain amount. For example, if you win £200 but the maximum win is £100, you forfeit £100 of your winnings.
The last thing you need to worry about is the time limit casinos set on their bonuses. Most casino bonuses expire within a certain time frame, either within 24-48 hours for bonus spins to 7, 14 or even 30 days for bonus funds. Players are required to complete their wagering requirements before the bonus expires or risk losing their winnings.
We hope that you now understand that bigger bonuses don’t necessarily mean more money. In fact, you’re much more likely to have more money when playing at a low wagering casino like Grosvenor, Play Ojo or Volt.
Whether you decide to try out one of those casinos or continue playing with the bigger bonuses, we urge you to read through the terms and conditions so you know what the wagering requirements are along with the contributing games, time limit and maximum bets and wins.
At the end of the day, gambling is supposed to be fun and you don’t want to be stressed out that you’re going to lose your winnings because you couldn’t fulfil the wagering requirements in time.