Wagering Requirements is the term you must have often heard and known when playing real money online casino games. It’s not the pokies, or table games that come under wagering requirement at online casinos but also Bingo games. Whatever the game you want to play at an online casino with real money you should know that wagering requirements are actually a part of terms and conditions of any bonus that you grab at online casino to play pokies or bingo. Wagering requirements actually state how much a player must wager before they can clear the offered bonus. It is always required to complete these before making a withdrawal from an account.
Kinds of Wagering Requirement
There are basically two kinds of minimum wagering deposits. One, where you need to fulfill the minimum deposit conditions to be able to make any withdrawals from your rewards or winning sums. In the second case, you need not satisfy the requirements beforehand but after having made a withdrawal without spending the minimum amount of Bingo tickets, bars you from availing any further bonuses.
The requirements are not the same at each online casino but differs per offer that is available. Like an online casino may have a 200% bonus on the first deposit, and this may come with a 4x wagering requirement. This means that is players deposit $100 and get a bonus of $200; they will have $300 in their account.
If an online casino has a 4x requirement on the bonus and deposit amount, players will have to wager $1200 before they can even make a withdrawal of bonus winnings. Some sites only have a wagering requirement on the bonus amount, and in this case, the amount would then be $800.
This is why it is important for you to fully read and understand the terms of every bonus at an online casino and know how much you will have to spend to even benefit from the presented offer.
The size of the wagering requirement in Bingo
The size of the wagering requirement in Bingo means that the wagering requirement change per bonus and if the bonus amount is higher then the wagering requirement is higher. But at Bingo online casinos or exclusive Bingo sites, you will find that the requirements are much lower than at online casino sites that offer slots and live games.
Generally, the wagering requirement for a bingo bonus is between 2 and 6x the bonus amount. With online casinos, these numbers can be as high as 50x or more. However, when it comes to bingo bonuses, the largest number does not always mean the best bonus deal. Many casinos will tack on a large wagering requirement when bonus amounts are worth higher values.
Therefore when choosing bingo bonuses, one of the first things to look at is the wagering requirement as this plays a significant role in the overall value of the bonus. Make sure to choose a bonus that offers a decent amount of money, but also comes with the smallest possible wagering requirement.
You can play through your wagering requirement by depositing or using winnings from games: see payout rates for games here.
Popular Wagering Requirements
The most popular wagering requirements found at online bingo sites are 10X wagering requirements and 20X wagering requirements. If you have a 10x wagering requirement, it means you must play through the amount of bonus you received 10 times before you can withdraw. 20x wagering requirements are the same, but you must play through 20 times your bonus before you can withdraw.
Suppose, if you are given a $20 casino bonus with a 10x wagering requirement, you will be required to wager (or spend) $200 on eligible games before you can withdraw any of your pending winnings.
Remember at online casinos free spins are unlikely to contribute towards a wagering requirement.
Some sites offer bonuses with zero wagering requirements and no deposit bonuses. These are rare but do exist. But if offered a zero wagering bonus note that many of these offers have quick timeouts and strict requirements around the withdrawal.
The wagers count towards such requirements
When claiming a bingo bonus, only wagers that are placed on bingo games will be counted when clearing the bonus and meeting those wagering requirements. When playing at an online casino site, some other games may also count, such as pokies and in most cases, a bingo bonus is cleared by playing bingo only.
The terms and conditions will explain the wagering requirements and what games can be played to clear these requirements. Different games will count for various percentages, so be sure to choose games that will help meet the requirements quickly so that players will be able to get their hands on the cash winnings that have been generated.
You need to remember that Bingo bonuses may be appealing to many players, but if they come with high wagering requirements, they may be completely useless. If players have to wager large amounts just to claim their bonus winnings, they may find they are spending more than the bonus was worth in the first place.
Again it is highly recommended that when choosing bingo bonuses, always read the terms and conditions before redeeming the offer. Also compare bonuses at different Bingo online sites as many will have minimal requirements in place. You need to find a bonus that provides a good amount of money while keeping requirements low, allowing you to benefit from the free cash and get your winnings faster.