Fervent casino players can now put on a smile, thanks to the emergence of numerous online casinos. With the availability of online casinos, you do not have to leave the comfort of your seat. Days of appearing in a physical casino are long gone – you can now play any of your favorite casino games like the Vegas Baccarat from as far as India or South Africa, or wherever you are. All you need is a Smartphone, tablet or computer, and an internet connection. However, that is not all. You first have to register with any of the reputable online casinos and get your login credentials for a chance to play.
It is no doubt that online casinos are in abundance. However, have you ever wondered how all these casinos manage to stay afloat despite their numerous numbers? Well, casinos often offer various bonuses and incentives to attract and retain players. Upon registration, new players usually receive a no deposit bonus, which is free money for playing. Other casinos offer a match bonus, which can go as high as double the amount of your first deposit. The allure of receiving free money attracts even the most astute gambler. After all, who does not like free money? These offers seek to encourage you, as a new player, to try out all the games that are on offer. However, there is a catch: the free money that comes as a bonus is not free in the real sense. You have to satisfy a few casino requirements before you can get access to your bonus.
If you are a keen casino player, you must have heard the phrase, “wagering requirement.” If not, then here’s the explanation. A wagering requirement refers to the terms and conditions that you must meet for you to access your bonus. In most casinos, the wagering requirement demands that you must stake a certain amount or play a set number of times, for you to receive your allocated bonus. For instance, if you have a $20 bonus and the casino has set a 20X wagering requirement, you must stake a total of $400 for you to release your $20. The 20X wagering requirement refers to the number of times you have to bet with $20 to satisfy the wagering requirement, which is 20×20=400.
Wagering requirements are not that popular. However, they protect casinos from the looming abuse of the bonus system. Initially, online casinos did not have wagering requirements. It was possible for players to cash out on the bonus soon after registration. This led to widespread abuse of the system, as malicious players would fraudulently open multiple accounts and cash out soon after receiving their bonuses. Online casinos were making huge losses as a result. To counteract the financial implications of offering cash bonuses, casinos introduced stringent terms and conditions that is commonly known as the wagering requirement.
Almost all online casinos have tied their cash bonuses on wagering requirements. However, different casinos have varying wagering requirements. While some involve lower wagering requirements, others demand higher wagering requirements. Why are some wagering requirements much higher in some online casinos than others? The difference in wagering requirements depends on a number of factors including:
• Type of bonus
• Available Games
• Level of membership
Type of Bonus
The type of sign up bonus has a bearing on the wagering requirement. As aforementioned, most casinos provide two types of bonuses including the match bonus and the no deposit bonus. The match bonuses are often double or triple your deposit, while the no deposit bonus usually varies depending on the casino. Setting the wagering requirement is the prerogative of the casino. If the casino offers a high no deposit bonus, then obviously the wagering requirement has to be on a higher side. Similarly, if the casino triples your first deposit, then you should expect a higher wagering requirement.
Types of Games Available
Online casinos provide a number of casino games, similar to traditional casinos. You may not know it, but the types of games available have a bearing on the wagering requirements. Different casino games have varying risks. These games require different amounts of wagers to satisfy the wagering requirement. Casinos often determine the minimum amount of money you can place on a particular game. The requirement is often a percentage of the stake. Casino games which are seemingly easy attract the highest wagering requirements. This is because when playing these games, the odds of winning are much higher. In contrast, technical casino games, or games that require a little bit of strategy attract the lowest wagering requirements.
Level of Membership
Casinos value their customers, especially their most fervent members. Once you sign up with a casino, you can climb the membership ladder simply by playing and wagering more games. The rule of the game is simple: the more games you play, the higher you climb. New members and old members have different wagering requirements. A new member attracts a higher wagering requirement in comparison to a premium member. This is because, the casino is yet to establish if the new member is genuine or just after the free money. Trusted members can enjoy free cash bonuses and other incentives without having to meet stringent wagering requirements.
As a gambler, you should fully understand all casino requirements before you accept any “free offers” or enticing bonuses. With this knowledge, frustrations connected to wagering in online casinos will be mitigated.
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