With the success of online gambling, more and more online casinos pop up every day. With thousands of online casinos to choose from, these businesses must offer what might seem like unrealistic opportunities to get people to sign up and play at their casinos instead of their competitors.
This is why you see some sites offering sign-up bonuses, stating that they will pay a 500% match up to $5,000, which just sounds incredible. However, there are some stipulations, and that is where it can get confusing for people.
What Are Wagering Requirements
What does it all mean? Let’s break it down; look at it step-by-step. First, you see the offer claiming to match you 100% up to $100, with a $10 minimum deposit. Naturally, you sign up, and let’s say you deposit $10. Now you are committed at least $10 to this casino, and this is where you find out about waging requirements. You have to play through 40 times before you can be eligible to receive the bonus money.
This means you will have to use the $10 bonus and place a bet worth $400 or win $400 over a series of bets before you are eligible for real money withdrawal. Did you honestly think the casinos were handing out free money on that large scale; that would be bad for business.
Why We Have Wagering Requirements
Wagering Requirements are a necessary evil when it comes to online casinos. These requirements do not exist to make it more difficult for players to get money out of the casinos. I know that might be hard to believe, but it is true. The first reason for these waging requirements is so that the online casino can comply with regulations aimed at targeting money laundering scams. Hence the necessary evil, they confuse the heck out of new players, but they stop criminals.
How To Beat Wagering Requirements
To claim your bonus money and overcome the wagering requirements, you will need to use the bonus money and place bets until you have reached the predetermined amount that sets your cash accessible. To stick with the example above, you deposited $10 with a 40x the wagering requirement, so you must reach $400 before the money can be withdrawn. The good news is every bet you make (on eligible games) is added together. That is how you turn your bonus money into real money.
Not all casinos have waiting requirements of 40x, but that does seem to be the norm. However, I have seen some as low as 15x and all the way up to 50x. The lower the waging requirements, the better chances you have of being able to keep your bonuses. Keep in mind when you are shopping for an online casino. Don’t necessarily look at the first thing they are offering, but do a little digging and see what the wage requirements before making any final decisions.
Being able to gamble online can be a fun way to entertain yourself; please always remember not to take it seriously. If you suspect you have a gambling problem, please reach out and ask for help. Always be safe while an online-only gamble, only play on legal online casinos, and don’t always fall for what is on the surface. Do a little research, read the fine print before making a final selection.
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