A Basic Understanding of Casino Wagering Requirements
July 17, 2013
One of the things that differentiates the online casinos from land-based casinos is the fact that a casino that operates online can offer something in the way of a "bonus" for people to sign up and start playing. And this is without a doubt one of the more fascinating subject when it comes to the world of online gaming.
Because the business is so competitive, you can see a virtual "race" to put the best possible bonus out there for the customer. So there are some attractive packages out there, one better than the other. The details are different for each one, and so it is advisable that players look into what is involved in terms of "cashing" these bonuses.
It is rather customary that a bonus for signing up would be equal to at least 100% of the initial deposit that is made on the part of the customer. Sometimes it is even more. But what needs to be taken into consideration are the obligations that have to be met for that bonus to actually become part of the customer's playing bankroll (i.e., where it can actually be put into play).
For example, the cornerstone of all these bonus programs is the "casino wagering requirement" that is in place, because after all, you have to prove yourself to a certain extent before being able to realize that bonus for yourself. A requirement means that you have to put a certain amount of money into action. But some clarification is certainly in order. If you have $100 that doesn't mean that you have put $100 into action. The formula is derived from how much each individual wager is.
Let's illustrate this the best way we can. Let's say you start with a bet of $5, and make 20 consecutive bets of $5 each. Then you step it up and bet $10 for ten consecutive wagers. You are going to wind up winning some of those and losing some of those, and in terms of your win/loss figure, you may be right back where you started at the conclusion of that cycle. But you have put a higher figure INTO PLAY than was represented in your original playing bankroll:
$5 x 20 + $10 x 10 = $200
So you have actually put $200 across the table, or through the slot game, depending on which game you are playing. If you originally deposited $100 and received a 100% bonus (which is $100), the amount of your deposit PLUS bonus is $200. So you have matched there with your play so far. The casino wagering requirement would mandate that you do that multiple times before cashing the bonus. It could be 25 times; it could be 40 times, it could be 100 times. It depends on the type of bonus and the game you're playing.
That should give you a pretty good picture of what it means to have to meet these requirements.