Understanding Wagering Requirements
A lot of people who do online gambling for the first time get confused when they find out that they cannot withdraw right away after making a couple of bets. This is even if they have claimed their welcome bonus and have won a few bucks. Actually, they are usually disappointed to find out from the terms and conditions that they should meet the wagering requirements before they can withdraw. Welcome bonuses are there to attract new customers, but all of them have this requirement. Here is what you need to know about wagering requirements:
What are Wagering Requirements?
Wagering requirements say how much money you should wager before you are allowed to cash out. For instance, the website has a 300% match bonus for the first deposit and a 4x wagering requirement. You can deposit $50 and get a 300% bonus which is $150 so that you will have a total of $200. Since the wagering requirement is 4x for the deposit and bonus, you have to wager $800 ($200 x 4) before you can withdraw. If the site only requires a 4x wager on the bonus amount, you just have to wager $150 x 4 = $600 before you can withdraw.
Completing the Wagering Requirements
Since you already have some knowledge of wagering requirements, you should know how it can be completed because it is not so easy. In order for you to earn bonus money, players would have to bet on different casino games and reach the required value. Each bet made gets deducted from the wagering requirement, but it can get confusing from here.
It is not always automatic that a dollar is deducted from each dollar wagered. The reason behind this is that every casino game varies when it comes to wagering terms and not all games take from the wagered amount.
What Happens to the Funds that Have a Wagering Requirement?
In general, bonus funds as well as the winnings linked to them have a “pending” status in the players account until they have met the wagering requirement. Most of the time, the funds can be used to play more and the wagers are used for meeting the wagering requirement. Making an assumption that there is real cash balance and a bonus balance that is pending, you should know which balance is utilized first. Of course, this would depend on the site. Normally, wagers are primarily taken from the cash balance and then from the pending winnings. It is only taken from the bonus balance after the two have been used up. Again, this practice does not apply to all casinos, so you better make sure first.
Wagering requirements may be a little confusing, but what you have read here should guide you so you will know what to do once you encounter them.