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What Is Wagering And Wagering Requirements
In Casino Bonuses?

In the online betting world, wagering is a common term used by bettors and those online casinos. You probably already know what wagering is. Whether you know what it is or not, we will be talking about it in this article. Online gambling comes with some incredible advantages that you might want to exploit. But we’re not here to talk about the benefits of online casinos. Rather, let’s discuss wagering and the wagering requirements, shall we?

What is Wagering?

Okay, this is not some complicated English word that you must look up in the dictionary. Wagering is just another word for betting or gambling.

So where does the term ‘wagering come from? It comes from ‘wager’, which an amount of money, service or item, that the player stakes on the possible outcome (of a bet). The wager can be placed against the house, against another player, or sometimes against both the house and another player.

In recent times, a bet/wager will be placed on sports matches, dice rolls, roulette spins, entertainment events, or any other possible outcome. Suppose the player wins the picked outcome, they will take back the entire winning stake.

Generally, wagers can be any amount. However, some games like poker and slots have specific wagers in terms of the minimum and the maximum wagers for each turn. After each wager is placed, the odds of the events that the wagers were placed against will determine the amount that the player gets in return.

This means that the odds will vary dramatically. For this reason, players design different wagering strategies as they consider factors like the statistical analysis, as well as the betting systems.

In online casinos, wagering comes with some requirements. So, what are wagering requirements and how do they work?

Wagering Requirements

You can already guess that wagering requirements are simply the conditions that the player/bettor must meet for them to withdraw any winnings that are associated with a bonus deal. They can also be defined as the amount that you must bet for you to release the bonus winnings into your online casino account.

Online casinos offer multiple bonuses that players can get. However, you must complete the wagering requirement for you to withdraw the bonus, winnings from the bonus, or deposit relating to the bonus. Some people consider wagering requirements as the play-through that you will need to complete before you can get your money on the bonus and winnings that come from it.

How Do They Work?

The best way to explain how the wagering requirement works is through an example. So, here is an example to help you understand.

Assume that you get an online casino that offers a welcome bonus of 100% up to £300. In this case, you could get less than £300. It is very rare to get the £300 bonus, which is the much any new member can get is that specific casino offering the bonus. Now, that amount is directly linked to your first deposit amount. Suppose you deposited £20 to your online casino account, you are guaranteed of getting an extra £20. Just don’t expect to get the other £300 that was advertised in the welcome bonus.

Also, the wagering requirements/welcome bonus requirements will be listed in the Terms and Condition section. That is why you need to be extra careful when going through those T&Cs’.

Some casinos will come with specific wagering requirements before you can get your bonus. In most cases, you will need to stake a total of a certain amount for you to release the bonus cash. This could be any amount, but mostly £200, £300, or more.

Once you stake a total of the specified amount, the bonus cash is released to your account and any winning/bonus that you qualify for will be transferred to your account balance. From there, you can continue betting/wagering or withdraw the total money that you have in your online casino account.

What about the Tiered Wagering Requirements?

An online casino can put in place a tiered wagering requirement. A tiered wagering requirement is the one that is made up of a staggering collection of payments.

For example, the tiered wagering requirement might consist of bonuses that come with time limits and minimum amount.

There can be one with a 5-day time limit, £20 requirement, which then gives you a £10 bonus. Another common tiered wagering requirement is a 30-day time limit that has a £500 deposit requirement, and a £50 bonus.

Even though the tiered wagering requirement seems different, they usually require a player to wager a total of £500 in the first month of their registration. In turn, it allows players to access a bonus total of £100. Most players prefer the tiered wagering because it lets you play in small amounts that lead to high bonuses in the end.

Are Wagering Requirements a Scam?

A lot of new players have been coy about the wagering requirements and if they can rely on them. Some think that online casinos promise too much but offer less. The point here is that you only get what the wagering requirements state. Mostly, the entire wagering requirements will be listed in the online casino’s Terms and Condition section. Most people don’t read out what is indicated in the terms and condition section, so they don’t always understand what the welcome bonus entails.

Before you make a deposit, always ensure that you check out the T&C section and understand how much you will get or what you need to do (how much you need to stake) before you can earn the bonus.

Why are Wagering Requirements Used?

Most of the popular online casinos out there apply the wagering requirements to their offers. The main reason for these online casinos to use the wagering requirements is to curb the dodgy players. Some unscrupulous individuals take advantage of these offers/promotions to make money out of them. In this case, they will be opening multiple accounts just to make that extra money (even without playing).

Through the wagering requirements, the online casinos ensure that the players signing up for the first time bet with real money before they can win that bonus promised.

Even though you can earn some few extra cash through the welcome bonuses, it is best to be good at online betting/gambling for you to win bigger. Check out these strategies to help you win big on the online casinos.
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