Most online casinos come with all sorts of bonuses and promotions in the form of free spins, welcome bonuses, bonus credit, and re-deposit bonuses. Don’t be deceived, these bonuses are not always free-of-charge. They may come with a wagering or no wagering requirements. Wagering requirements often make it impossible for players to access their winnings unless they meet certain conditions. In some cases, you will get welcome bonuses with no wagering requirements. So, what are wagering and no wagering requirements?
What Are Wagering Requirements?
Wagering requirements are conditional amounts a player must bet so as to access his or her bonus winnings. Without meeting these requirements, it is difficult for the bonus winnings to be released into a player’s main account balance. This is the reality with most bonuses from online casinos. As a player, you have to wager your bonus amount several times over for you to be allowed to withdraw your winnings.
Thus, it is impossible to withdraw the bonus amount, the deposit amount or the winnings as a result of the bonus until you complete the wagering requirements. Say you have just been awarded a $200 bonus with a 20X wagering requirement. For you to withdraw your winnings, you will be required to wager $200X20 or $4,000. Even if you win $5,000 on the $200 bonus, you will not withdraw it until you go through the wagering requirements. To avoid the inconvenience, you may choose to forfeit the bonus altogether.
What Are No Wagering Requirements?
There are a number of online gambling sites which offer no wagering bonuses. The promotions come in the form of free spins and generous bonuses. The good thing is that players are not tied down by conditions that require them to wager their bonuses a certain number of times before withdrawing their winnings.
When you choose to use the free spins, you are at liberty to withdraw all your earnings without any restrictions whatsoever. The only condition is that you must make a deposit before you are able to take advantage of the free spins. That’s why it helps to check the terms and conditions before signing up.
Yet, we have a few online casinos which offer no wagering requirements on zero deposits. With these kinds of bonuses, you can try out the online gambling site without having to pay any money. Only that you would have to contend with strict maximum winnings and withdrawals. That could come as a surprise, especially if you don’t check the terms and conditions.
As you can see, the devil lies in the details. Even though some free spins and welcome bonuses may seem generous, they come with restrictive wagering requirements. Some online casinos are known to have wagering requirements of 100X. That could discourage just about anyone from playing on that platform.
In the same breathe, no wagering requirements also come with their own conditions. While you do not have to wager your bonuses, you could be restricted when it comes to maximum winnings and withdrawals. To avoid being trapped by either the wagering or no wagering bonuses, it is always good to read the fine print before signing up.