The online gambling market has exploded around the world. The popularity of this favourite pastime has set in motion a growing monster that needs to be fed. The sheer number of online casinos ensures that competition is at an all-time high. This has meant that casinos have had to strategise on how to bring the numbers into their casinos and keep them there. Failure to do so would result in patrons being snapped up by their fiercest rivals.
One of the primary ways in which online casinos draw players to their sites is by way of promotions and incentives in the form of various casino bonuses offered. These include various forms of Deposit and No Deposit Bonuses that are designed to give players free credits or spins on some of the most popular games out there.
The earlier days of online casinos (the 1990s) saw a massive abuse of online bonuses. This misuse caused massive losses for online casinos. Players would “conveniently” open up multiple accounts from different email addresses so that they could scoop up “Sign up” bonuses on all of their profiles. After playing for a very little while, they would cash the credits out as soon as possible to reap big rewards.
Casinos had to improvise a plan of action that would protect their interests without depriving their players of bonus rewards. The industry, therefore, put their heads together and engineered a set of rules known as “Wagering Requirements” or “Playthrough Requirements”.
Though many patrons dislike these terms and conditions, it is the only way to make sure that casinos are not manipulated into suffering big losses. Players who are looking for fun and entertainment will not be seriously affected anyway.
One will notice when looking at the fine print on casino bonuses, that a deposit amount must be played through a number of times before winnings can be withdrawn.
Players must make sure that they understand these Wagering Requirements, by reading through the general terms and conditions for bonuses on the online casino provider’s site.
There is no industry standard on these sorts of things, so the requirements can vary vastly from one vendor to the next. To maximise on the sort of terms offered to you, make sure that you make use of one of our top 5 online casinos, as casinos promoted on our site are not in the business of taking you for a ride. We have tried and tested them for their service excellence and work ethic, and each has passed the test as a reputable casino.
A theoretical bonus offer: Match Bonus of 100% with Playthrough Requirement of 20x.
You decide to activate this bonus by depositing €100. The casino will match your €100, thereby giving you a total of €200 to spend on games. The Wagering Requirement here will be applied to the €100 the casino gave you, with you having to make sure that you wager that amount through 20 times before being able to withdraw any winnings.
In short, you will need to wager €2000 before claiming any payouts. At this point, it would be pertinent to mention that many bonuses are subject to withdrawal limits that may result in you not being able to withdraw all of the winnings that you have made.
Failure to meet the requirements before the offer expires may result in the forfeiture of the deposit and any winnings made up to that point. Attempting to withdraw cash prior to meeting this requirement may see you to lose your account and money, though not possible to withdraw from the casino.
You will need to be thorough in your research on the terms of the Wagering Requirements, as different games are treated differently by the playthrough rules.
While it is common for 100% of your bets to be subject to Wagering Requirements in online slot offerings, games with a lower house edge, like Poker, Blackjack or Roulette may only count towards 40% or 50% of the funds contributed towards the requirements.
For example, €200 spent on a slot machine will count as €200 towards your Wagering Requirements, whereas €200 played on a Blackjack game might only contribute €100 towards the Wagering Requirements for the bonus. This is done because the casino is more likely to win against you on slot games than on table games.
The precise percentages applied may differ from casino to casino. This is, therefore, another reason to ensure that you read the terms and conditions of bonuses thoroughly before accepting them.
It is important to realise that “High Rollers” and VIPs are treated differently from regular players. Their status has been built on their loyalty to the casino in both frequencies of play and the level of cash deposited. Regulars will naturally get discounts and special promotions that other players won’t get. These perks are often afforded to VIP players in respect of Wagering Requirements too.
Wagering Requirements for High Rollers are generally set at a lower number than those of regular players, but one must understand that the deposits VIPs make are generally far higher than standard deposits, and therefore the amount of money the casino gets back is considerably more.
Withdrawal limits are likewise increased for this status of a player. It stands to reason that someone who consistently bets big should be able to withdraw big as well.
VIPs are members of a casino’s “Loyalty Program”, and as such can even skirt traditional bonuses to cash in their loyalty points for credits instead. This may lead to VIPs skirting the need to submit to any Playthrough Requirements whatsoever.
Online gambling can be fun, but it can also destroy you. Learn how to play responsibly with this handy guide!
Learn how to properly gamble your hard-earned cash with our guide to Online Vegas Slots.
Learn all you need to know about Online Roulette and its many variants. Discover how to re ...