Almost all online casino bonuses have wagering requirements and with reason. Whether or not you are able to complete the wagering requirements is largely a matter of luck. Expert players have a few tricks up their sleeve by which they can increase the chance of meeting the wagering and cashing out from the bonus. These are based on mathematical reasoning and we will share them with you. However, we first explain a few basics about wagering of bonuses for newbie online casino players.
In this article you will learn about:
- Why bonuses have wagering requirements
- How to calculate wagering requirements
- How to choose the best bonuses
- How to wager the bonuses effectively
Players should remember to choose to play at casinos that have approval of reputable licensing boards because they make sure that the wagering requirements laid out by the casinos are fair and attainable.
Why Bonuses Have Wagering Requirements
Bonuses are free playing money offered by online casinos to attract players. If all players could immediately cash out the bonuses and take the money home then the online casinos would be out of business. On the other extreme, if there was no possibility of winning any amount from the bonuses then they would cease to be attractive.
Wagering requirements provide a middle path through which the online casino’s interests are protected and players’ get an opportunity to make real money from the bonus. When you claim a bonus, you know that there is no guarantee of a payout at the end, but you also know that you have nothing to lose. If luck favours you and you complete the wagering then you take home the prize.
How to Calculate Wagering Requirements
Before we highlight how to choose bonuses and how to deploy them based on wagering requirement, you should know how to calculate the amount you will have to wager. Wagering requirements are specified in different ways based on the type of bonus and we illustrate a few of them.
- For free spins: X times the winnings from the free spins
- For no deposit bonus: X times the bonus amount
- For deposit match bonus: X times the deposit and the bonus
Wagering Requirements for Deposit Match Bonus
Consider a bonus that is 100% of the deposit with wagering of 25 times the deposit and bonus.
- You deposit $50 and get a bonus of $50, the total working out to $100
- 25 times $100 is $2500 and you have to wager that amount before you can cash out from the bonus
How Wagering Requirements Are Met
The question that stares newbie players in the face is with only $50 bonus (continuing from the above example) how will one wager a large amount of $2500. The mathematics is not as difficult as it seems.
- You start with $50 in your bonus balance and $2500 as pending wagering
- You bet $1 from your bonus
- Your new bonus balance is $49 and $2499 is pending wagering requirement
- If you lose the bet there is no change to the situation
- But if you win $10 from the bet then you bonus balance increases to $59
You have to grind your way winning enough over numerous bets to cover the wagering requirement amount. If you are unlucky and deplete your bonus balance before meeting the required wagering you will not cash out from the bonus. However, it is only an opportunity loss – you have not paid anything from your pocket.
How to Choose the Best Bonuses
Keep these three numerical indicators on your radar when choosing deposit match bonuses.
· The percent of the deposit that will be given as bonus
· The maximum bonus allowed irrespective of the deposit amount
· The wagering requirement
The first two are prominently displayed in the bonus offer, whereas the wagering requirement is usually given in the fine print. Online casinos put in very attractive bonus percentages and maximum bonuses and compensate by stipulating high wagering requirements. Players go for the big bonus only to find the wagering beyond their reach. Our mathematical analyses of bonus says that players should claim bonuses with lowest wagering requirements, even if you get a small bonus. The probability of completing the wagering and cashing out will be greater.
We have seen bonus offers that clearly specify zero wagering requirements. No wagering casinos are not very common, so once you find one bookmark it in your favourites. Then look for bonuses where the wagering is on the bonus amount only. Our experts have claimed thousands of bonuses and we feel that wagering of more than 40x the deposit and bonus is almost impossible to meet.
How to Wager Bonuses Effectively
Many online casinos allow players to wager the bonuses on a cross section of game categories and here the game selection becomes very important.
Bonus Wagering and Game Selection
The bonus terms and conditions invariably state that different game categories contribute differently to wagering requirements and you need to understand what this means in number terms.
- Slot games usually contribute 100%. This means $1 bet reduces the balance wagering by $1.
- Table games contribute less, say 10%. This means $1 bet reduces the balance wagering by only $0.10. So, the calculated wagering increases ten-fold.
It is a no-brainer that you should wager bonuses only on games that contribute 100%.
Which Slot Games Are the Best for Wagering
If you want to keep it simple, follow this rule blindly. Wager bonuses only on slots games. Expert players know that all slot games are not alike mathematically. You would have realised by now that you need a few big wins to get sufficient money in your bonus balance and you need those wins quickly.
High volatility slots are more likely to do the trick for you, but the problem is you have to figure out which these slots are. Follow these pointers.
- The payout for the highest winning combination is way more than others
- There is an abundance of bonus features with benefits like payout multipliers
Heed the Numbers
Lady Luck does play an important role in online casino gaming and your gut feel also counts for a lot. However, if you want that extra bit on your side, which makes the difference between a winning and a losing session, then you must know the mathematics involved.