In life, there are always caveats. When it comes to goods and services, terms and conditions are an ever-present aspect of all the products we benefit from and enjoy. And it’s no different when it comes to online casino play, specifically when it comes to bonuses.
Bonuses are an invaluable way to give yourself an edge and advantage in your casino play. However, you should always be aware that these bonuses usually have a “catch” attached to them in terms of wagering requirements, and that should factor into your casino play.
Read on to find out how wagering requirements work:
What is a wagering requirement?
This represents the number of times you have to play though a bonus before you are able to withdraw any winnings. Essentially, these requirements dictate how many times you need to bet a bonus amount (and sometimes your deposit as well) before you can withdraw any winnings derived from that bonus.
For example, you’re given a 100% deposit match up to R100 with a 10x wagering requirements. This means that you need to spend R1000 on eligible games before you can withdraw any pending winnings you have gained.
How do wagering requirements affect my winnings?
Your winnings will be stored in a pending balance, and you won’t be able to withdraw cash until you meet the wagering requirements. These requirements will apply to an account from the time a bonus is accepted and/or applied to an account.
What’s the Multiplier?
You will often see the wagering requirements expressed as a multiplier, such "20x," "30x," or "40x. This multiplier tells you how many times you need to wager the bonus amount.
Why do Casinos Have Wagering Requirements?
Wagering requirements help deter money laundering by making it harder for individuals to deposit illicit funds and immediately withdraw them. It also encourages more casino play, ensuring that players engage more with the casino games, rather than just taking the “free” money.
Key Factors to Consider
Not all games contribute equally to meeting wagering requirements. Typically, slots contribute 100% (as slots have a higher house edge), while table games such as blackjack and roulette often contribute a much smaller percentage (between 5% and 25%) because they generally have a lower house edge. This means you'd have to bet significantly more on these games to meet the requirement.
Time Limits
Most bonuses come with a time limit within which you must meet the wagering requirements. If you don't, you risk losing the bonus and any winnings associated with it.
Bonus Types
Different bonus types have varying wagering requirements:
- Deposit Match Bonuses - often have moderate wagering requirements (20x-40x).
- Free Spins - the wagering requirement usually applies to the winnings you get from the free spins, not the value of the spins themselves.
- No-Deposit Bonuses- tend to have higher wagering requirements because you're not risking any of your own money.
Be in the Know
Casino bonuses are a great way to give you an advantage in your casino play and bag a big win. However, you should always be aware of wagering requirements related to this bonus and factor that into your casino play. Look for lower multipliers, reasonable time limits, and favourable game contributions to give yourself the best chance of converting your bonus into withdrawable cash.
Get Your Game On with Bonuses
At Goldrush, we ‘re famous for our generous bonuses and are always upfront about our wagering requirements. Feel the Rush of winning at www.goldrush.co.za