No matter If you are a newbie or an experienced player, you’ve probably heard the term “wagering”. In this article, we would like to provide you with a detailed explanation about the meaning of this term, why do we use it and how to calculate it. By the time you finish reading it, you will know everything about it.
What does Wagering Requirements Mean?
First, we are going to explain the concept of wagering requirements and their role in the online gambling industry. A wagering requirement is the number of times a player must play the bonus money before being allowed to make a cash withdrawal. The casino bonus usually has a number of conditions that the player must meet.
When you sign in to an online casino and make a deposit, you usually receive cash amounts and free spins. However, before you make withdrawals, you have to fulfil the wagering requirements. And if you don’t meet those requirements, you won’t be able to withdraw any winnings in cash. That’s why it is important to read them before start playing. Every online gambling casino has its own wagering requirements. You can find them under the Terms and Conditions section.
How to Calculate Wagering Requirements?
This part is crucial because it will help you understand how does the wagering process work, especially for the new players. To know how to calculate the wagering requirements, let’s take a look at the following example. Imagine that an online casino offers a bonus of £60 and the bonus comes with a wagering requirement of 5x. If you claim this bonus, you have to wager or place total bets in an amount of £300 (£60 x 5) to complete the wagering requirements and make your bonus withdrawable.
When we talk about wagering requirements, it is important to mention the wagering requirements on free spins. They are tied with the wagering requirements and the players must fulfil them before they withdraw any wings received from the spins. Here is another example that will help you get a better understanding. Imagine that you are using the free spins from a welcome offer and you win £60. The wagering requirements for them are 20x. This means that you have to wager £1200 (£60 x 20) before you access your prize.
Why do Wagering Requirements Exist?
You have probably been asking yourself why do wagering requirements exist? There are a few reasons for such requirements which are explained below:
Firstly, the bingo site has to comply with anti-money laundering regulations. There has to be at least one playthrough of the deposit is required. This means that you can’t deposit money and take it straight out again.
Secondly, as the bingo site gives you a bonus to play with, it also wants to ensure that you keep on playing at the site for a while. And, when keeping playing, the bingo rooms are busy and therefore attractive to players in general.
Thirdly, as some of the casino sites offer bonuses, without wagering requirements, there would be nothing to prevent a player from repeatedly taking money out and then immediately depositing it again to stack up multiple deposit bonuses. As a result, casino sites have to protect themselves.
No Wagering Requirements
Sometimes, the bonus terms may state that there are no wagering requirements. This means that you don’t have to wager your bonus and all of your winnings will be paid in cash. However, before you choose a no wagering requirements casino, make sure that you read the Terms and Conditions for any additional and hidden conditions.
Blighty Bingo Wagering Requirements
At Blighty Bingo, we offer many offers including daily free spins. As you probably know, playing at Blighty Bingo means that you play in a safe and secure gaming environment. We follow all of the rules and regulations set by the authorities. That’s why at Blighty Bingo our offers come with wagering requirements.
Finally, we hope that we answered all your questions related to the wagering requirements. Here at Blighty Bingo, we offer many different games. You can find some of your favourite slot, bingo, bingo roulette and even Slingo games on our site. And the best part is that all of our games are available on mobile, tablet and desktop. So, you can play wherever you are – as long as you have a solid internet connection.