Casino wagering requirements explained: How to earn your casino bonus
By Simon Head
You’ve signed up for an online casino and earned yourself a bonus – congratulations! But did you know that you can’t withdraw that bonus money until you’ve fulfilled some key terms and conditions? Fear not, we’re here to walk you through everything you need to know about casino wagering requirements.
What are casino wagering requirements?
Put simply, a wagering requirement is the amount of real money you need to bet before you are eligible to convert bonus funds into real, withdrawable money.
Casinos offer various bonuses to attract new players, but while the size of these bonuses may be appealing to newcomers, if you ever want to turn that bonus into cold, hard cash, you will have to jump through some hoops to get it. Those hoops are the wagering requirements.
Different types of wagering requirements
Wagering requirements vary, based on the type of bonus involved and require players to stake their own money to a multiple of the bonus on offer before they qualify to withdraw that bonus as real money.
Different casinos set different wagering requirements for different bonuses, and wagering requirements are typically described as a multiplier of the bonus on offer e.g. a 1x wagering requirement, a 4x wagering requirement, a 10x wagering requirement. Commonly, wagering requirements usually sit around the 30x mark.
Calculating wagering requirements
Wagering requirements are a relatively simple calculation. For example, a 1x wagering requirement on a £100 bonus would require a player to bet through £100 of the bonus cash before they are eligible to withdraw any winnings as real money. A 4x wagering requirement for the same bonus would mean the player has to bet through £400 before they can cash out any winnings.
Additionally, many wagering requirements, especially for deposit bonuses and welcome bonuses, also include the value of the deposit in the requirement.
When this is the case, if a casino pays a £50 bonus for new accounts that deposit a minimum of £10 and the wagering requirement is 10x, that would mean the player would have to play through £600 (£10 + £50 x 10) to be able to withdraw any winnings.
Why do casinos include wagering requirements with their bonuses?
Wagering requirements are essential for casinos to ensure that players don’t just take their bonus money and leave.
They also ensure that a percentage of bonuses never leave the company in real money, because not all players are able to play through the required amount of money to actually withdraw their bonus from their accounts.
The key thing for a casino is to set their wagering requirements to look achievable enough for players to attempt to complete them, without being so easy that most are successful.
When can you withdraw real money?
At any time, you can withdraw money that you have deposited yourself, as well as any winnings you have earned through playing with your deposited funds. However, that is not the case when it comes to bonuses.
Wagering requirements ensure that you cannot withdraw any bonus money until you have met the terms and conditions of that particular bonus. If you have to play through 2x the value of your bonus, you won’t be eligible to withdraw it until you’ve played 2x the bonus value at the casino.
Once you have played through the required amount of money, that bonus will then be eligible and you will be able to withdraw it as real money in the same way you would with your own money.
Pitfalls and considerations when signing up for a casino bonus
Casino bonuses are designed to encourage you to sign up, but they are rarely as straightforward as they seem. Wagering requirements are just one of the things to be aware of before you sign up. Our advice is to make sure you have properly checked the casino’s terms and conditions so you are fully aware of the limitations and stipulations regarding their bonuses.
In addition to checking the size of the wagering requirement, also check terms and conditions for any expiration dates attached to bonuses, maximum bet limits allowed while trying to play through your money and other restrictions that may make it harder for you to get to that bonus.
When it comes to wagering requirements that also include your deposit amount, be sure to always deposit the minimum amount to ensure you have the smallest amount of money to play through to earn your bonus.
It’s always worth shopping around respected and established casino sites to find the best bonuses available. You can see the best welcome bonuses available at UK casino sites on our dedicated page. And, don’t forget, the size of the bonus isn’t the only consideration. The actual amount of money on offer is irrelevant if you aren’t able to actually claim it, so always be on the lookout for bonuses with lower wagering requirements, even if the actual size of the bonus is smaller. It’s always better to have a smaller bonus you can actually claim, rather than a large one you can’t.
FAQs
How do you complete wagering requirements?
You complete a wagering requirement by playing through the required amount of money, in your own real money, for your chosen bonus. Once you have risked the amount of your own real money that is stipulated in the terms and conditions, you will have completed the wagering requirement and be eligible for the bonus.
What is a wagering requirement in the UK?
A wagering requirement is a set of play conditions a casino player must complete before a stated bonus becomes eligible for a player to withdraw from their account as real money.
What is an example of a wagering requirement?
An example of a wagering requirement would be for a casino welcome bonus. If a casino offered a welcome bonus of £10 for a customer opening an account and that bonus had a wagering requirement of 2x, that would mean a new player would have to bet at least £20 to be able to withdraw any winnings.
Why do casinos have wagering requirements?
Wagering requirements are an insurance policy for casinos to stop players ‘taking the money and running’. In effect, they offer enticing bonuses, but with strings attached, meaning players have to risk their own money to an amount deemed suitable by the casino before the casino has to pay out a bonus.
Can I convert casino bonus money to cash?
Yes, but only when all the conditions of the wagering requirement for that bonus are met. Check the terms and conditions for the bonus you’re thinking of claiming before you sign up to make sure what you’re aiming for is achievable.