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What Is Wagering And Wagering
Requirements
In Casino Bonuses? |
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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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