So you want to know how to beat wagering requirements. Whether you prefer to play video slots or dedicate your time to other gambling activities such as betting or live casino, wagering is something you have to accept if you regularly play using deposit bonuses. Experienced online gamblers will have noticed that casino are not quite as generous with welcome bonuses as they used to be and that reload bonuses are almost non-existent at this point.
Moreover, those bonuses that are indeed on offer, now come with more challenging wagering requirements than ever before. The reason for all of this is that online casinos have had to adjust to a markets that have been hit with significant increases in taxes, licensing costs and massive fines. To operate an online casino is nowhere near as lucrative as it once was. Ultimately, all theses added expenses unfortunately affects the end customer, you. In this article, we’re going to walk you through what wagering is, how it works, and most importantly, how to beat it.
What is wagering requirements and how does it work?
To get a proper understand of what wagering requirements is and what role it plays in the world of online gambling, we need to lay down the basics. Historically, online casinos have always had far lower expenses than its live-casino counterparts. This, in turn, has allowed online operators to offer generous perks as means to compete on the highly competitive market and get players to sign up to their casino. As a result of this, players have come to expect welcome bonuses, free chips, cashback and other perks.
Now, a deposit bonus is essentially free money given to the player by the casino but at the same time you also have to remember that an online casino is a profit-driven company. Hence, they do not like “bonus hunters”, which are often banned and which are also a contributing factor to why bonuses offers have declined, and you can always expect them to add some sort of condition. This is where wagering requirements come into effect.
Wagering is the number of times the player must play through the bonus amount before a withdrawal can be requested. Bonuses can also have other terms and conditions, such as max bet rule or certain game restrictions. Many players are in such a hurry to commence the session that they never actually read the terms, something that puts them at risk of breaking the bonus terms.
In recent years, a new kind of bonus has become increasingly popular and has even become a UKGC requirement in the UK. Often referred to as a non-sticky bonus, or parachute bonus, it’s a great improvement from the traditional sticky bonus as it does not mix with your own funds and kept separate until your deposited balance has been lost. Essentially, it’s a free second chance of a comeback should you lose your money. With this system, you won’t have to worry about wagering requirements should you land a big win whilst playing with your own funds. The player can simply request a withdrawal straight away.
There is another important reason why online casinos are compelled to implement wagering requirements – to combat money laundering. Without wagering requirements, criminal organizations could practically deposit large sums of money and make withdrawals to their bank accounts, claiming the money to be winnings from gambling. If you read the terms and conditions, online casinos usually require a certain amount of play-through even with your own deposit.
How to calculate wagering
To learn how to beat wagering requirements, we must fully understand how it works. So, imagine that a new casino has caught your interest and that you have registered a new account. Let’s also imagine that the casino is offering new players a 100% match bonus up to £100 that comes with 30x wagering requirements. This is what the wagering requirements will look like:
- Example 1: £100 (casino bonus) x 30 (wagering requirements) = £3000. In this first example, you need to wager £3000 before you can request a withdrawal. But some casinos have so-called sticky bonuses which means your own funds will be mixed with the bonus funds. In that scenario, the wagering requirements would instead look like this:
- Example 2: £100 (your deposit) + £100 (casino bonus) x 30 (wagering requirements) = £6000. While the wagering is double that of the first example, there sticky bonus actually has a benefit – you will start wagering right away and with a much larger balance that allows you to play more aggressively.
The best approach on how to beat wagering requirements
To wager a casino bonus is not easy, but the fact is that bonuses give players a slight edge over the casino. If that wasn’t the case, casinos would give players a bonus on more or less every deposit. The bonuses allow players to take bigger risks and play more aggressively while also extending the play time which, in turn, increases the chance of finding a “hot” slot.
To be able to beat wagering requirements, it’s usually necessary to land wins of at least 300-400 times your stake or, alternatively, stick to low variance slots. It can be a good idea to start more aggressively and play some high variance games and chase those really really massive wins, especially if the wagering requirements are high. If later on it becomes evident that you’re likely to make it, it can be a good idea to back off a little and play slots with lower volatility and lower risk to finish the wagering without losing too much money.