What are Casino Bonus Wagering Requirements?
Wagering requirements are conditions that players must meet before they can withdraw any winnings obtained from using casino bonus funds. In this article, we will delve into the reasons why casinos impose wagering requirements, help you understand what are average and fair wagering requirements, explore the consequences of not completing the wagering, outline the do’s and don’ts of wagering, and provide tips on quickly clearing wagering requirements.
Why do Online Casinos have Wagering Requirements?
Casinos implement wagering requirements to protect themselves from bonus abuse and ensure the sustainability of their operations. By imposing wagering requirements, casinos aim to prevent players from simply depositing, claiming a bonus, and immediately withdrawing funds without engaging in any actual gameplay.
As well as making sure you don’t just take the bonus money and run, Many NZ online casinos believe that the wagering requirements encourage new players to explore the casino’s offerings, and try out a variety of games whilst waiting to convert bonus funds into real money winnings.
What is the Average Wagering Requirement at NZ Casinos?
Wagering requirements can vary significantly across different online casinos and promotions. You will find the wagering requirement normally expressed as a multiple of the bonus amount received.
A common range for wagering requirements in NZ is between 30x and 40x, meaning that players must wager the bonus amount 30 to 40 times before they can request a withdrawal. A lower wagering requirement, such as 10x or 15x, is considered relatively low, while higher requirements, such as 60x or above, are considered high.
Check the terms and conditions carefully to check the amount you need to playthrough with the wagering multiplier. This can vary greatly depending on the wording and will normally be either:
- The value of the bonus received: either the match-up bonus, the cost of the free spins, or both
- The value of the bonus PLUS your deposit: in this case you will need to playthough the bonus amount, as in option 1, and what you deposited to claim the bonus.
- The value of your free spins winnings
Options 1 or 3 are the most common in NZ. If you see a low wagering offer in particular check that this is not option 2, as that effectively doubles the amount you will need to playthrough.
What Happens if I Don’t Complete The Wagering Requirements?
If you fail to meet the wagering requirements within the stipulated timeframe, as stated in the terms and conditions, the bonus funds and any associated winnings will be forfeited. No ifs or buts.
Anything in your cash balance will be safe, but it is crucial to carefully review the bonus terms and conditions to understand the wagering requirements and avoid any disappointment or loss of potential winnings.
Do’s and Don’ts of Wagering
When wagering a casino bonus, it is essential to adhere to certain guidelines. Firstly, carefully read the terms and conditions of the bonus to understand the wagering requirements, eligible games, time limits, and any other relevant conditions.
Stick to the games that contribute towards the wagering requirements, as not all games have equal weightage. Some casinos exclude certain games entirely, especially live casino games like Blackjack or Baccarat. If you want to play these games look out for a specific live casino bonus.
Additionally, avoid attempting to circumvent the wagering requirements through irregular betting patterns or placing large bets to quickly meet the requirement, as this may lead to the bonus being canceled. If you are able to play Roulette with your bonus funds, remember that covering over 67% of the table with your bets is considered in breach of the wagering requirements.
How to Clear Wagering Requirements Quickly
To efficiently clear wagering requirements, focus on games with a higher contribution percentage towards the requirements. Online pokies usually contribute 100% towards the wagering, while table games like blackjack or roulette may contribute a lower percentage, or even zero. By strategically selecting high-contributing games, you can expedite the wagering process.
We recommend finding games with a higher return to player percentage (RTP%), as statistically, you will lose less during the wagering. Anything with an RTP over 96% is considered high.
In Summary
Wagering requirements are an integral part of online casino bonuses, serving to protect the casinos. Understanding why casinos impose these requirements, knowing the average range of wagering requirements, being aware of the consequences of non-completion, and following the appropriate guidelines will enhance your overall gaming experience. By employing strategic approaches and selecting games wisely, you can efficiently meet wagering requirements and potentially convert bonus funds into real money winnings.
Playing through wagering requirements does take time, but being forewarned is to be forearmed. It is also possible to find free spins with no wagering at several NZ casinos, although typically you will have to compromise with a smaller casino bonus.
