Unravelling the complex world of online slot games, we come across numerous terms that can leave even some of the more experienced players perplexed. One such term is 'wagering'.
This article aims to dissect the concept of wagering, how it works, and much more.
What Does Wagering Mean On Slots?
When it comes to online slot games, 'wagering', in most contexts, is essentially another term for placing a bet or stakes on a particular slot game.
This concept becomes slightly more complex when we introduce the term 'wagering requirements'. These requirements are attached to the bonus offers provided by online casinos, which could take different forms, such as free spins or deposit matches/bonus funds.
Wagering requirements signify the number of times a player is required to bet the bonus amount before they can withdraw any winnings derived from it. Therefore, understanding wagering requirements becomes crucial for players looking to claim any promotional offers.
How Does Wagering Work?
If you choose to claim an online casino's promotional offer of bonus funds or free spins, it is more than likely going to be subject to wagering requirements. As mentioned before, this is the stipulated number of times you must wager an amount before you can withdraw any winnings made from the bonus.
But what is the amount? Well, that depends on whether the offer is bonus funds or free spins.
If it is bonus funds being offered by the bonus, then the bonus amount is the number subject to the wagering requirements - e.g. if you receive £20 in bonus funds through the offer, this is the amount that has to be wagered the stated number of times.
If the bonus offers free spins, then you play through the free spins and the total winnings earned from the spins (if any) is the amount that is subject to the wagering requirements. So, if you won £5 from the spins, then this is the amount that has to be wagered a certain number of times before any withdrawals can be made.
Wagering Requirements Example
Wagering requirements are typically represented as a multiplier, such as 10x, 20x, or 40x. This multiplier indicates the number of times you have to bet, or 'wager', the potential bonus amount.
What Does 40x Wagering Mean?
To illustrate, let's consider a 40x wagering requirement. If you win £10 on a free spins bonus offer that is subject to this requirement, you will need to place bets totalling £400 (40 x £10) to meet the requirement.
Only then can you withdraw any winnings derived from the bonus. The main purpose of this is to ensure that players utilise their bonuses to wager on games rather than withdrawing them immediately.
Can You Beat Wagering Requirements?
While wagering requirements might seem daunting, they're not impossible to overcome. The key is understanding how they work. However, it's worth noting that there's no way to 'beat' wagering requirements other than meeting them.
There are a few strategies that could potentially make meeting these requirements slightly easier:
- Choose Games Wisely: Opting for slot games with a high Return to Player (RTP) and low volatility may increase the frequency of small potential wins, helping you to meet your wagering requirements. However, as slots are random games of chance, any winnings can never be guaranteed. Also, the bonus may require you to play a specific slot game.
- Keep Track: Keep a close eye on the games you're playing and the amount you're betting. This can help you manage your budget and track your progress towards potentially meeting the wagering requirements.
- Read the Fine Print: Always read the terms and conditions of any bonus offer before claiming it. This can help you understand any specific wagering requirements as well as how different games are weighted towards meeting them so you can plan your gameplay accordingly.
No Wagering Requirements Casinos: The Downsides
While some (very few) online casinos offer 'no wagering' slots, meaning players can withdraw any winnings from these games without needing to meet any wagering requirements, these offers are relatively rare and might come with other restrictions.
Such offers are often smaller than those with wagering requirements and may come with a maximum withdrawal limit. Therefore, it is essential to read the terms and conditions carefully before accepting any bonus offers.
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