In this blog post, we will go through what wagering requirements are. Using a 50x wagering requirement as an example, we’ll talk you through how much you must bet before you can withdraw any winnings.
We’ll also discuss why online casinos have wagering requirements and whether it’s possible to avoid them.
What Does 50x Wagering Mean?
First, let’s talk about wagering requirements. All online casinos have wagering requirements that must be met before you can withdraw winnings earned from some form of bonus offer. Every casino has different wagering requirements, so make sure to check before you sign up.
If you register with a new online casino and use their welcome bonus or any other promotions, you agree to the terms and conditions. Part of these include the “wagering requirements”. These requirements state how much you must wager/bet before you can withdraw any winnings you have made using the bonus.
It’s easy to spot the wagering requirement for specific promotions - simply look out for the multiplier figure. Let’s say the wagering requirement for the welcome bonus offer is 50x. This means that you have to wager the total amount of winnings from the bonus 50 times over before you can withdraw any winnings.
50x Wagering Example
To calculate the wagering requirements, simply follow this equation:
Bonus winnings x wagering requirement = total bet
Let’s imagine you win £10 from the bonus offer. The wagering requirement is 50x. This means that you would need to bet £10 50 times over before you can withdraw. The equation now looks like this:
£10 (bonus winnings) x 50 (wagering requirement) = £500
So, before you withdraw any winnings generated from the bonus offer, you must have wagered £500 to meet the wagering requirements.
What Happens If You Don’t Meet 50x Wagering Requirements?
Before you sign up for any online casino, always read the small print. Some casinos have wagering requirements that are quite high and difficult to meet.
Choose a casino that has good wagering requirements that are easier to meet, such as 50x wagering requirements. In order to receive your winnings, you must meet the wagering requirements.
If you don’t meet the 50x wagering requirements, you cannot withdraw winnings generated from the bonus offer. However, if you wager and lose all of your bonus funds before meeting the 50x wagering requirements, then you have to deposit funds to continue playing as you are out of bonus funds. Wagering requirements do not apply to your own funds, only to bonus winnings.
Why Do Slot Sites Have Wagering Requirements?
Slots sites have wagering requirements to protect themselves as well as their players. Online casinos have wagering requirements to stop people from taking advantage of bonus offers and promotions. If people could take bonus money and run with their winnings, then the casinos wouldn’t make any money. Remember, they are a business.
Casinos have wagering requirements to protect players too. By having wagering requirements in place, this prevents fraud and money laundering.
Can You Avoid Wagering Requirements?
The only way you can avoid wagering requirements is by not claiming bonus offers or choosing a no wager casino. There are very few online casinos with no wagering requirements, so it’s better to look for somewhere with low wagering requirements.
There is no way to beat wagering requirements, but there are a few things that you can do for a better gaming experience:
- Read the Terms and Conditions: If you register with a new online casino, it’s important to read the terms and conditions carefully, no matter how boring that may be. The terms and conditions outline important information, including wagering requirements, deposits and withdrawals. Always read them before claiming any bonus offers, so you know what to expect.
- Choose the right online casino: Before you register with an online casino, have a look around to see which one you prefer. Have a look at the types of casino and slot games they offer, what the deposit options are and the wagering requirements of any bonus offers.
- Remember your purpose for playing: Ultimately, gambling is intended as a form of entertainment and should not be seen as a way of making money. The goal should be to have fun. So, please gamble responsibly and take breaks regularly.