If you’ve been scouring the internet looking for a site to play casino games for money, such as live dealer casino games, you’ll have come across a range of enticing online casino bonuses. But there must be a catch, right? Yes, there is, and it’s called a wagering requirement. This doesn’t mean you shouldn’t take advantage of lucrative bonuses when you enjoy online casino slots and games. We’re here to help you navigate casino bonuses and their terms and conditions. Let’s look at what wagering requirements are and how they affect you as a player.
What is a wagering requirement?
Whether you’re a newbie or an experienced online gambler, you’ve probably seen crazy casino bonuses and promotions offering you hundreds of dollars in deposit matches or bonuses. These offers are designed to encourage you to sign up. But, to keep things fair, the casino also needs to add wagering requirements. This helps them make sure they aren’t just giving money away, that players are investing their own funds and bringing them a profit. A wagering requirement is how much you have to bet on the online casino before you can withdraw money from your account.
How do wagering requirements work?
Wagering requirements usually state that the player must meet a minimum betting threshold to reap the benefits of their sign-up or promotional offer or to claim any winnings they’ve made. While there are some incredible benefits of loyalty programs at online casinos, it’s important to understand the wagering requirements before signing up. This requirement isn’t a way to trick players. After all, casino bonus dollars are meant to be used playing real casino games. If casinos allowed players to withdraw their balance after a few bets, they would be giving away money.
Sign-up rewards, “sticky bonuses,” and other promotional offers exist to encourage new people to join a site and to benefit existing customers. These incentives allow the best online casinos to reward players with extra time or credit on their favorite games. Casino bonuses add a dynamic to the entire gaming experience by providing you with extra opportunities to play – and who wouldn’t want bonus money when playing online slots or casino table games? It’s certainly a great way to check out a new game without risking your bankroll.
How wagering requirements work for different casino bonuses
Wagering requirements can change depending on the casino bonus on offer. Let’s look into some of the different types of casino bonuses you can enjoy and the wagering requirements they might have.
Free spins
If you play online slots for real money, some casinos might offer free spins as a welcome bonus or promotion. To cash out the money you make from free spins, you’ll need to wager an amount that’s several times your winnings. This amount is calculated by multiplying your total winnings. For example, if you win $50, and the wagering requirement is “20 times,” you’ll need to wager $50 a total of 20 times ($1,000) before you can claim your winnings.
You should always be aware of a casino’s betting requirements before you claim a bonus. This way, you’ll avoid disappointment when you try to claim any money you won from free spins. If the wagering requirement is too high and you won’t be playing long-term, it’s better to forfeit the bonus and use your own funds. With your own deposit, you can withdraw your winnings whenever you want to.
Deposit match bonuses
The wagering requirements around match bonuses work similarly to those for free spins. If you deposit $50, the casino will match that $50 as part of a match bonus or deposit match. If the wagering requirement is 20 times, you’d need to wager the matched deposit 20 times to meet the wagering requirement. This would total $1,000 in this example.
However, players should also be aware that some online casinos may include your initial deposit as part of the match bonus. So if you deposit $50, and the casino matches with $50, you’d need to wager a total of $100 20 times to meet that wagering requirement. It’s clear why reading the fine print is so crucial!
No-deposit bonuses
A no-deposit bonus is a monetary prize you win without depositing funds of your own. The wagering requirements for these also make use of the multiplier system based on the amount that you receive.
If you receive a $50 no-deposit bonus, and the wagering requirement is 10 times, you’ll need to bet a total of $500 before you can access any winnings. Depending on the wagering requirement set by the casino, no-deposit bonuses can be a great way to enjoy games without having to immediately hand over your own money.
Other regulations that can affect wagering requirements
Before you agree to claim a bonus, it’s important to read the terms and conditions. In addition to the bonus-specific rules, other regulations may affect whether or not a player can withdraw their winnings. Here are a few to look out for to avoid disappointment and confusion. Remember, these rules will only be used by some casinos, but not all of them.
Your bets only count after you’ve cleared your deposit
If you claim a match bonus, any games you play will first make use of your deposited money. Only after this money has been used will any bonus credit or additional deposits begin to count toward the wagering requirement.
Certain games don’t count towards wagering requirements
It’s important to know that certain games may only contribute a percentage of your bet towards the wagering requirement. In some cases, it may not contribute to the wagering requirement at all. This is usually decided by the game’s return to player (RTP) value, which is a statistical calculation that reflects how much (on average) the game pays back to players after a certain period.
For example, slot games with a low RTP may contribute the full amount that you bet towards the wagering requirement. In contrast, live dealer casino games with a high RTP may contribute much less.
No matter which game you decide to play, check that the bet you want to make counts toward the wagering requirement before you commit your money to it. You don’t have to do this, but if the requirement is high, it will make a big difference in the long term.
Your bonus is only valid for a limited time
Find out how long your bonus is valid so you can take advantage of it before it expires. There’s nothing worse than missing out on an incredible bonus because you forgot to check the expiry date. Some bonuses are only valid for a day, while others might be active for several months – it varies depending on the type of bonus.
Be careful about picking up additional bonuses
While a bonus may seem too good to pass up, it’s essential to read the fine print before you accept any new or additional wagering requirements. You may accidentally break the rules laid out by the casino. As a rule of thumb, you should always aim to clear your current wagering requirement before accepting the next to avoid any possible issues.
Games, types of bets and strategies may be banned
Casinos will limit or ban any bets or strategies that could be used to exploit the system. This could be using winnings from low-risk bets to play high-risk games. Certain games may also be banned while you’re completing wagering requirements. Every individual casino game will also have its own betting limit or maximum bet.
Failure to understand these specific rules could result in losing your bonus balance. You could also forfeit any winnings you may have accrued. Notably, most online casinos will have additional disclaimers warning players that any attempt to exploit the system, even if not listed, will violate the wagering requirements agreement. If the casino finds that you have violated this agreement, it may cost you your bonus and winnings. If you have a secret strategy you like to use in baccarat casino games, we’d advise waiting until you’ve met the requirements and withdrawn your winnings to try it out.
Find out if cashback applies to bets
If you’re a regular casino player and like to make the most of your gambling deposits, you’ll most likely have investigated the cashback offers available at your favorite site. Cashback offers are a great way for regular players to save cash if they’re on a losing streak, but you’ll need to confirm whether these offers apply to bets made when completing wagering requirements.
Not all bonuses set wagering requirements
While it’s necessary to be aware of the rules regarding bonuses that have wagering requirements, you should also note that some bonuses come without strict regulations. These are usually bonus features or free spins on slots that aren’t part of a larger promotion. If players win anything off these bonuses, many casinos will only require a small deposit before they can claim their winnings. Again, be sure to take a look at the conditions for each bonus so you can have a great time enjoying them!
Reading the fine print might sound like a delay, but it lets you enjoy your bonuses without fear. Always take the time to read the terms, rules and requirements if you want to play to win at a casino.
The best bonuses and promotions at BetMGM
The BetMGM casino offers a wide variety of casino bonuses and offers. Other than our welcome offers, we have promotions for online sports betting, table games and slots. If you miss out on any of our seasonal promotions, you can rest assured knowing you can take advantage of MGM Rewards throughout the year. Our MGM Rewards program gives you the red carpet experience at MGM resorts, but it also lets you redeem and earn rewards when you play online. Redeem your MGM rewards points for free bets, bonus dollars and much more.
There’s enough joy to go around. Why keep all these festivities to yourself? Share the goodness with a friend and you’ll unlock a $50 refer-a-friend bonus. Visit the BetMGM promotions page to see all our ongoing offers.
Discover the best online casino games with BetMGM
If it’s going to take you some time to meet the conditions for a wagering requirement, it’s wise to choose a casino that offers you a great time. The BetMGM online casino offers the latest casino games on a safe and mobile-friendly platform. If you prefer classic table games, we have an enticing range of online poker, blackjack and roulette tables to join with real, professional dealers. Create an account to explore our promotions and begin your online gambling adventure.
