CASINO BONUS WAGERING REQUIREMENTS
Enormous competition in the industry means that online casinos are now offering more bonuses than ever before, the bonuses are growing in number and are becoming more and more generous. Casino bonuses are basically free money, but being fundamentally a business, a casino isn't about to give all its money away now is it. This is why wagering restrictions and requirements are used by casinos and applied to the bonuses they offer so as to readdress the balance.
These requirements and restrictions take the form of play through or betting limits and can often be found clearly stated in a casinos terms and conditions. Wagering requirements are usually about 20-30 times the amount of the bonus, so to put it simply you will need to bet 20 or 30 times the amount you have received as a free bonus in order to be able to withdraw the amount. In real money terms, if you are given a sum of $200 as a bonus from an online casino in order to be able to actually withdraw that money you will have to wager somewhere in the region of $4,000 (sometimes only on specific games) in order to be able to withdraw that initial $200. This is obviously because the odds are stacked in a way that means you will ordinarily fail to make such wagers with such a small amount before losing it.
Obviously every kind of online casino game has different odds so casinos are not keen on allowing you to meet these wagering requirements on the games with easier odds. Typically there will be bonuses that are offered for specific games and these bonuses will have wagering requirements that differ according to the game in question.
There are also percentages of eligibility applied to different games which make the wagering requirements even harder to meet. For instance take Sic Bo and Roulette, if your wagering requirement is 20X for a bonus amount of $200, then you will need to wager a total of $8000 (200 x 20 = 4000), but since there is a percentage of eligibility, in this case 50% then you will actually have to double the amount in order to meet your wagering requirements, this would ben2 x 4000 = 8000.
If on the other hand your game of choice is Blackjack, with your wagers only being 10% eligible, then you would have to wager a total of $40000 (200 X 20 = 4000, 4000 x 10 = 40000).
Generally it is thought best to make smaller wagers rather than blow all your bonuses too soon. They also help to reduce your overall losses if just using a bit here and there to bolster your bets that you make with your own money. If you are lucky and skillful enough to meet your wagering requirements then you can immediately use this money somewhere else or else withdraw it completely
We hope this has been a handy overview to wagering requirements. Please don't forget to check or list which is constantly updated of the most generous and most competitive casino bonuses that you can find on the net today.