Casino

Gone are the days when casino gaming meant a trip to the local brick-and-mortar venue or the bright lights of Las Vegas. Thanks to the online casino explosion, you are now no more than a click away from your favourite games, and there are so many sites to choose from.

👉 When you're looking at online casino options and using a betting offers finder, you might be tempted by the welcome bonuses they offer. These bonuses can sound pretty appealing, like getting extra money to play with or free spins.

But before you get too excited, it's important to understand something called wagering requirements.

Also known as a Playthrough or Turnover Requirement, these wagering requirement rules are worth being aware of before you sign up to any new site.

Here, we take a look at how wagering requirements work and the important things to be aware of when choosing a new player offer.

What are wagering requirements?

Wagering requirements are rules that dictate how much you need to bet before you can withdraw any bonus money as real cash. This is usually shown as a multiple of the bonus amount, like 1x to 70x or even more.

😀 For example, if you claim a “100% Deposit Bonus up to £100” and deposit £100, you’ll receive an additional £100 in bonus funds. These funds are stored separately in a bonus wallet and can only be withdrawn after meeting the wagering requirements.

😧 If the wagering requirement is 30x, you must bet 30 times the bonus amount before you can withdraw the bonus money and any associated winnings. So, for a £100 bonus, you would need to wager £3,000 (30 x £100).

For any bonus with an attached wagering requirement, use this formula to figure out how much you must stake before you are able to withdraw any bonus funds:

– Wagering Requirement x Bonus Amount = Total Stake Required –

It's important to note that this doesn't mean you need to deposit £3,000. It means you need to wager £3,000. Bear in mind, if you are playing slots, for example, with an average of 96% RTP, you will most likely be winning 96 pence back from every £1 you bet.

Free spins and wagering requirements

Free spins are another popular promotional tool. These spins often come with wagering requirements applied to the winnings.

For instance, if you win £20 from 20 free spins and the wagering requirement is 25x, you must wager £500 (25 x £20) before the winnings can be withdrawn.

Impact of wagering requirements

Higher wagering requirements generally mean lower potential returns from the bonus. Consider the following examples:

Example 1: £100 bonus with 10x wagering requirement

If you play £1 spins on a slot with a 96% Return to Player (RTP), you expect to lose 4p per spin on average. To meet a 10x wagering requirement, you need to wager £1,000 (10 x £100), resulting in an expected loss of £40. Since the bonus is £100, you could, on average, profit £60.

Example 2: £100 bonus with 30x wagering requirement

Here, you need to wager £3,000 (30 x £100), with an expected loss of £120 (3,000 x 4p). This loss exceeds the bonus amount, suggesting the bonus might disappear before meeting the wagering requirements.

Additional considerations

• Game Contribution: Different types of games contribute a differing amount to your wagering requirements. Slots usually count 100%, but table games might contribute as little as 5%—meaning only 5p of every £1 bet will be counted towards your wagering requirement—drastically increasing the effective wagering requirement.
• Including Deposit Amount: Some casinos factor in the deposit amount. For example, with a 10x wagering requirement on a £100 deposit and £100 bonus, you'd need to wager £2,000, significantly lowering the promotion's value.
• Winning Caps: Maximum win limits often apply, capping the amount you can win from bonus funds, typically in the low hundreds.
• Time Limits: Wagering requirements usually must be met within a certain period, ranging from 7 to 90 days. Failing to do so forfeits the bonus and any associated winnings.

Always check the terms before signing up

There are often limits on how much you can win from bonus funds, as well as time limits for meeting the requirements. So, before you sign up for a bonus, make sure you read the terms and conditions carefully to understand what you're getting into, and don't expect to get rich from a new player welcome bonus!

So are new player bonuses worth it?

At the end of the day, yes, bonuses can be worthwhile if you pick the right one. We generally wouldn't advise anyone to go for a no deposit bonus with extortionate wagering requirements.

If you're serious about playing at an online casino or slot site for the long term, you will very easily meet the wagering requirements at some point down the line.

For example, if you were to deposit £10 and receive 50 free spins on Big Bass Bonanza—currently a popular bonus game—and you generally enjoy Big Bass Bonanza as a game, then this is a pretty good deal.

Any wins would obviously be a bonus, but in the worst case, you've experienced the platform, got an idea of the online casino, and are better placed to make a decision as to whether or not to continue playing there.

Remember, bonuses for existing players come around all the time, probably weekly if not more often, so once your initial free spins are up, fear not—more will be awarded to you as long as you are playing at the slot site or casino.