If you’re diving into the world of online casinos, you’ve probably come across those sweet bonus deals. However, each of these bonuses comes with a cach, and it’s called wagering requirements.
Let’s break it down so you can level up your gaming without any surprises. So, what’s the deal with online casino bonuses? Think of them as the cherry on top when you sign up or toss some dollars into the virtual pot. They’re like extra gaming goodies, but there’s more to the story.
Now, here’s where it gets interesting. Wagering requirements are the gatekeepers of those bonus bucks. You need to understand this game to make the most of your wins. It’s like getting the key to the bonus kingdom. But why should you care? Stick around, because mastering wagering requirements is the secret sauce to turning those bonus dollars into real cash in your pocket.
What are wagering requirements?
So, when you’re playing at online casinos and they offer you bonuses or free spins, there’s usually a catch called “wagering requirements.” It’s like a rule they set to make sure you don’t just grab the bonus cash and run.
Here’s the deal:
- Getting a Bonus: Imagine you get a cool casino welcome bonus, like extra cash or free spins, when you sign up or deposit money.
- Wagering Requirement: But here’s the catch – you can’t just cash out that bonus money right away. They want you to play with it first. The wagering requirement is like a number (say, 20x) that tells you how many times you must bet the bonus amount. For example, if you get a $50 bonus with a 20x wagering requirement, you’d need to bet a total of $1,000 (20 times $50) before you can take out any winnings.
- Games Matter: Not all games count the same towards the wagering requirement. Slots usually count 100%, but things like blackjack might only count, say, 10%. Some games might not count at all.
- Time Limit: They give you a deadline. You need to meet the wagering requirements within a certain time. If you don’t, you might lose the bonus and any winnings.
- Hold Your Horses: Until you meet the wagering requirements, you might not be able to grab your winnings. So, no quick withdrawals.
How do wagering requirements works?
Bear in mind that if a wagering requirement of an online casino is NZ$5,000, it doesn’t mean that the player must lose NZ$5,000 to fulfil the requirement.
In most cases, online casino players meet the wagering requirement without knowing it.
For instance, most online slots have a Return to Player (RTP) percentage of about 95 per cent.
The remaining 5 per cent is the house edge. If the RTP is 95 per cent, it means that the slot pays out NZ$95 of every NZ$100 you wager.
Therefore if a player wagers $5,000, theoretically, the player is expected to receive not less than NZ$4,750 as winnings.
It could be more but hypothetically that’s the minimum amount a player is expected to win after wagering NZ$5, 000 on a slot game over time.
In the past, most online casino players opted for games with very low house edge like blackjack and roulette with approximately 0.5 or 2.25 per cent in most cases.
Based on this, the casino introduced a condition that not all games contribute to the wagering requirement.
What is a fair wagering requirement?
A fair wagering requirement is one with a low wagering condition. If the wagering requirement is harsh and high, it is completely useless.
Apart from that, a high wagering requirement makes it almost impossible for a player to win.
For instance, a wagering requirement of 50x makes it very difficult to win at an online casino and make a fast payout.
In other words, a fair wagering requirement should be at least 10x, 20x, or 30x. When it is higher than this, it becomes impossible to win and cash out.
No wagering requirement
As appealing as a no-wagering offer may sound, it is crucial to mention that these types of bonuses often offer only free spins. Also, you may not be offered a free fund in most cases. However, it remains a good offer that players can find at no wager casinos.
Nonetheless, if you opt for this type of bonus, you will still be required to deposit real money.
Then after you have made the deposit, the free spins and all your funds earned will be available without wagering the amount. In other words, the only difference is that you won’t have to fulfil a wagering requirement on your bonus winnings. However you can always try out free no deposit spins offers, but in most cases they also com with wagering requirements attached
Wrapping up
Since you now have a better understanding of a wagering requirement, carefully choose New Zealand online casino sites with fair wagering conditions.
Consequently, that’s the only way to win and cash out from an online casino.
Finally, stay away from harsh and high wagering requirements like 50x above. There is no way you can win and cash out here.