As somebody who is just starting their betting journey online, certain jargon pertaining to the i-gaming industry can be baffling. We understand your plight and would like to help out beginners. If you have seen online casinos you must have also seen wagering requirements, we are here with a beginners guide to what wagering requirement means. Understanding what wagering requirements are can also help you think about how to beat wagering requirements.
Any discussion about online casinos remains incomplete without mentioning wagering requirements. It is one of the most important aspects of gambling online. Before we elaborate on what wagering requirements are, we need to understand what wage means. Let us take a look at what wager and wager requirement means.
What does a wager mean?
A wager is nothing but a bet. Wasn’t that simple? Yes, in simple words it is a bet. But what does it really mean when it comes to gambling in an online casino? It means the money you place on a game in the casino or match. It is the money you spend on reel spins, hands of cards, or a sports match. Also, it could mean the total amount you have bet during a specific time or one session.
Now that the meaning of a wager is understood, it will be easier to understand what wagering requirement means. Follow along to find out.
What is the meaning of the wagering requirement ?
As a new user, when you register on a new online casino platform, you will be met with many or few promotional bonus offers. You can also find such promo offers on an existing platform you play on.
These promo bonuses offer few spins free of cost, few free bets, bonuses in form of cash and other rewards. Sounds too good to be true? It is true but there are some conditions applied to get all the benefits from these offers, these conditions are nothing but what we call wagering requirements.
These requirements stipulate that customers have to wager some amount of money before they can collect any winnings earned from the bonus or withdraw the bonus. Casinos always implement these wagering requirements.
Every bonus offer is different hence, the wager requirement will also be different for each type of offer.
Let us look at how wagering requirement is calculated:
When we talk about how wagering requirements are calculated, don’t worry about being terrible at math, it is not difficult to understand. As mentioned earlier, there are different types of bonuses like cash bonus, free spin bonus or free bets bonus. Every casino has a different wager requirement. You can follow a clear and simple formula to calculate the wagering requirement i.e, bonus amount multiplied by wagering requirement will give you the total bet.
Hypothetically, if you have deposited $50 and you get a bonus of $50 with the wagering requirement as 30X, the equation will look like 50×30= 1500. If your casino adds the initial deposit amount to the formula it would look like $50+ $50 x $30 = $3000
If these formulas seem difficult you can also use online wagering requirement calculators to make it easier for you.
Conclusion
Now that you understand what wagering requirement means you can start betting and playing online without any worries. Always read the terms and conditions before you start playing to understand and be fully aware of where your money is invested.
