Beware Of High Wagering Requirements And Unfair Bonus Terms

by - March 25, 2022

The betting space is a large industry. What’s more, all projections indicate that it is only likely to continue growing, and it is also fiercely competitive. Even though more people are coming to see the perks of betting, many gambling sites don’t know the level of action they would like. As a result, these platforms continue to devise new and creative ways to attract punters to their corners.

One commonly adopted measure to gain new punters is to offer supposedly lavish welcome bonuses or free bets. It can range from matching your first deposit with free cash to providing you free bets when you stake a certain amount of money. However, the saying goes that when something sounds too good to be true, it usually is. These seemingly generous offerings often come with a bit of clause attached; wagering requirements.

Wagering Requirements – What Are They And Why They Exist

In simple terms, a wagering requirement is a play-through condition you have to meet before you get any bonus or perk. It appears in the form of a minimum betting threshold a punter must reach before they can claim any bonus/winnings that they have.

Wagering requirements exist to accomplish two things primarily. The first is to offer punters a means to make even more winnings while putting themselves at little to no risk. The second is to ensure that these gambling platforms gain at least something from leveraging their bonus services. To further understand wagering requirements and the impact they can have on your betting experience, we’ll be looking at some of the typical bonuses that online casinos offer and the conditions they have.

Types Of Bonuses And Wagering Requirements

The Free Spin

It is likely to be one of the first offers any punter will get from a gambling site. It offers you free spins at the online slot games. The requirement here is that you would also need to wager a certain amount before taking out your winnings. As an example, if you win $20 from your free spin, and the wagering requirement of the platform is “15 times”, you would have to wager $20 a total of 15 times ($300) before you can claim your winnings.

The Match Bonus

Here, you get an equal sum of any initial deposit you place as a “match bonus.” For instance, if you deposit $100, your match bonus will also be $100. Now, if the wagering requirement of the betting site is 15 times, you would need to wager $100 15 times before you’ll be able to withdraw the match bonus.

The No-Deposit Bonus

Similar to the Match Bonus, the only difference is that you don’t need to deposit beforehand. The gambling site provides you with a certain sum you can use to place bets. However, most gambling sites will still ask that you meet specific benchmarks before withdrawing what you win. For instance, if you have a $100 no-deposit bonus, and the wagering requirement is ten times, you would still have to bet $1000 to claim your winnings.

What To Watch For With Wagering Requirements

The fantastic deals that these bonuses and offers present are undoubtedly impressive. However, many punters have tried to cash in on it only to regret those actions later. These days, many online betting platforms offer sweet deals that come attached with high wagering requirements. The worst part of it all is most bettors don’t realize what they’ve gotten into until it’s too late.

The best way to stop this is to take the time to go over the Terms and Conditions of these bonuses before you opt for them. That way, you have prior knowledge of what you’re getting into, and you know how best to handle it.

In addition to the wagering requirement terms listed above, others you’re likely to encounter include but aren’t limited to;

  • Having your bets count after you’ve cleared your deposit,

  • Certain games don’t get counted towards fulfilling the wagering requirements,

  • Bonus validity is only available for a limited time,

  • Embargo on certain types of games, bets, and strategies, and so on

Ultimately, you should note that not all bonuses come attached with a wagering requirement. Still, to ensure you don’t trap yourself in an inconvenient situation, it’s always best to research the gambling site before you try to leverage any freebie.

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