Understanding Wagering Requirements
We briefly covered wagering requirements in our Understanding Bonuses article, but I’d thought I’d dedicate a complete article to the subject as some find it confusing.
Virtually all bonuses will have set wagering requirements, that in effect means that players have to wager the bonus amount multiple times before they can cash out. If you read the terms and conditions of the bonus it will give details of the wagering requirement. So lets take a look at the terms and conditions for a 100% Bonus Up To £100 Plus 50 Free Spins Offer.
18+. New players only. One bonus offer per player. Minimum deposit of £20 Max bonus bet £5 Bonus funds must be used within 30 days and bonus spins within 10 days, otherwise any unused bonus or spins shall be removed. Bonus spins are valid on Starburst video slot game only. Bonus spins winnings are credited in form of bonus funds and are capped at £50 Bonus funds are 100% of your first deposit up to £100 Bonus funds are separate to Cash funds and are subject to 35 x wagering the total of bonus.
So for the above example the £100 bonus has a 35X wagering requirement which would require the player to make (3 x £100) wagers, which of course is £3500 before they could withdraw any of the bonus. So let’s say with your £100 bonus you spent it all on bingo tickets and slots, got lucky and won £5000. You’d have to wager another £3400 before you could make a withdrawal. So as you can imagine most who claim the free bonus money never get to withdraw it. It’s not all bad news though because the player has enjoyed the thrill of gambling the free bonus plus the reality is that you should not gamble with the expectation of making a profit as it should be fun.
Also of note is that the bonus includes 50 free spins. Note that the winnings from the free spins are capped at just £50.
Understanding the wagering requirements of deposit bonuses will make you realise that all such bonuses are not equal. For example a 100% Bonus Up To £100 with a wagering requirement of 5x is far better deal than one with 50x.