Wagering Requirements Explained: How does wagering work?
Whenever you claim a bonus or promotion at a casino site, it’s likely that wagering requirements will be attached. Found in the terms and conditions of the bonus, these must be adhered to if you intend to withdraw any winnings from the bonuses you claim.
But exactly how wagering requirements work can be quite confusing. They can be calculated in different ways, and they are implemented differently at the many online casinos in Canada. In this guide, we’ll explain how to calculate the wagering requirements yourself, and highlight a few other key terms, so that you know what to look for when checking your obligations.
What are wagering requirements?
The wagering requirements is the number of times you must bet your bonus before any winnings or profits can be withdrawn. It’s also known as playthrough or rollover requirements.
When browsing the many casino bonuses available, you’ll notice that the majority of them include the number of times the bonus needs to be wagered in the terms. It will often look something like x40 wagering requirement. In this case, you would need to bet your bonus amount 40 times to complete the wagering requirements.
Bonus money wagering
Example bonus: 100% up to $500 with x40 wagering
- You deposit $500 and get $500 as a bonus
- Wagering requirement: $500 x 40 = $20,000
You need to use your $500 bonus to bet a total amount of $20,000 to beat the wagering. If successful, any remaining bonus money will be converted into real money that can be withdrawn.
Exactly how big the wagering requirements are depends on each casino. The usual range is between x30 and x40. Of course, the lower the better as you don’t need to bet the bonus as much to convert it into real money. There are even a few no wagering casinos where you win real money straight away.
Another big factor is whether the wagering requirement applies to the bonus amount only or to the deposit amount as well. If you need to wager both then this makes the overall target much higher and more difficult to achieve. If we take the example above, the wagering requirement would double to $40,000 ($1000 x 40). Needless to say, this makes it even harder to achieve and would likely result in not being able to retrieve any winnings at all.
Free spins wagering
If you get a batch of free spins to play slot machines, most of these also have wagering requirements where you need to bet any winnings to convert them into real money.
Example: 100 free spins with x40 wagering
- You get 100 free spins and win $10
- Wagering requirement: $10 x 40 = $400
You need to use your $10 winnings from the free spins to bet a total amount of $400 to complete the wagering requirement. Any remaining winnings will be converted into real money if successful.
Other conditions associated with bonuses
While wagering requirements are one of the main terms attached to most bonuses, they are not the only obligations. You must completely understand all terms and conditions if you are to successfully use any offers while playing.
Here are some of the other important bonus terms and conditions.
Eligible games
When it comes to meeting the wagering requirements, you will need to play various games to spend and playthrough the money needed. However, every casino has games that are not eligible for this.
For free spins, you will only be able to play slots. Usually the casino will give one or a small number of options. For bonus money, slots are always eligible, though some casinos will have a list of very specific slots that are not. Other casino games such as video poker or live dealer games tend not to count at all, or contribute tiny amounts.
As such, it’s essential to check out which games are eligible. If you are playing ineligible games, you will simply be wasting your own time and bonus money.
Deposit limits
Every bonus that’s activated with a deposit will require a minimum amount. In Canada, that’s usually either a $10 deposit or a $20 deposit, depending on what the casino decides. However, it has been known to be higher in some cases – so make sure to choose an offer that’s within your budget.
Some casinos will only allow you to use certain payment methods to trigger bonuses too. Some of the most common payment options like Interac or credit card are usually eligible. However, sometimes e-wallets are excluded, even the popular ones like PayPal.
Sticky vs Non-sticky
Once a bonus is activated, do you bet first with your own money or the bonus money? That depends on whether the bonus is sticky or non-sticky:
- Non-sticky: You play with your own money first. If you lose it then the bonus money can be used.
- Sticky: You play with the bonus money first.
Non-sticky is generally favoured. As you play with your own money first, if you manage to win big then you can choose to withdraw it straight away! No need to complete any wagering as it’s your own money, the only thing is you need to forfeit the bonus amount to cashout. However, if you lose your own money then the bonus is a second chance to win.
However, in some cases, a sticky bonus is preferred. For example, let’s say you wanted to try out a slot or game first to see how it works. Using your bonus money first makes more sense here, as you can play without worrying about losing your own cash.
It’s all down to each player’s preference, so make sure to check the terms and conditions to see which money you’ll be using first.
Betting limits
All casinos only allow you to bet a maximum amount when using a bonus. Typically, this is around $5 but it can be slightly more or less. This prevents the player from rushing through the wagering requirements by placing high bets.
You must only bet the maximum amount at all times. Failing to do so will violate the terms and conditions, even if you only do it once by accident. As a result, the bonus (and any associated winnings) could be taken away from you.
Time limit
Every bonus offered has a time limit in place. The terms and conditions will tell you exactly how long you have to use the bonus and complete any wagering requirements. If you fail to meet the requirements in time, then the bonus credits and winnings accrued will be removed from your account.
Depending on the site, these time frames can be as little as a day (often the case for free spins), or as much as 90 days. Make sure to check the expiry date to avoid being disappointed.
Winnings cap
Always check if there’s a maximum amount you can win from a bonus. Not all casinos include a winnings cap but some do. This can hinder how attractive the bonus is if the max win is low.
For example, you could win $300 from a bonus but only be allowed to claim $100 at the end of it. So, it’s always smart to check this before you start placing your bets to avoid any disappointing surprises.
Tips for comparing bonuses
Now that we have covered all you need to know to understand wagering requirements and other key terms, here are a few tips to consider when comparing bonus deals.
1. Is a big bonus always better?
Casino players in Canada can be treated to huge offers. Some offer thousands of Canadian dollars in total. While these can be very enticing, there are drawbacks as well as advantages. Here are a few things to consider:
Pros
- Possibility for a big bankroll
- Can be used on multiple games
Cons
- Wagering requirements are often huge
- Usually require a big deposit
2. The lower the wagering the better
While a small number of casinos don’t have any wagering, most do. So it’s best to look for those with low requirements in place, ideally under x30. This is because these are easier to complete. Anything above this is unlikely to be achievable, and you won’t be withdrawing any money from those bonuses at all.
Make sure the wagering only applies to the bonus amount too! Some casinos might have under x30, but if the deposit amount is included in that then it’s likely to be unachievable too.
3. Check the game restrictions
Games with a high return to player percentage (RTP) are often excluded from bonuses. This is common at most online casinos.
However, make sure the casino doesn’t exclude too many slots and games so the bonus isn’t worth it overall.
4. Read & understand all terms
Before playing, we always recommend reading all of the casino’s terms and conditions. Not just the bonus terms, but the general conditions too. This is so you understand all of your obligations before committing your own money.
If you don’t fully understand anything then it’s best to check with customer support so they can explain it. The last thing you want is to think you’ve won, only to be tripped up by something you didn’t think was an issue.