Understanding Online Casino Wagering Requirements
Online casinos have wagering requirements or playthrough requirements. These are part of the casino terms and conditions that players have to comply with before they are able to withdraw from an online casino bonus and promotion. However, very few players understand what wagering requirements and why they are important. That is why below we will give you a brief guide so as to help you to understand online casino wagering requirements.
What are casino wagering requirements?
This is the amount of money that the player must use before they are able to cash out the casino bonus. In most cases it a multiple of the bonus amount, and there is in most cases a minimum amount as well as the maximum amount that a player must be aware of.
How do I calculate wagering requirements?
This is the mathematical part of online casino wagering requirements, and for many, it is boring to read. However, if you want to understand wagering requirements at the casino, it is a vital part that must be covered.
To explain, we will give an example.
Online Casino Wagering Requirements
Let’s say that you want to sign up as a new player at casino X, and as part of the casino sign up bonus, you will be able to get A$60 when you make a deposit of A$20 with a wagering requirement of 5x. This is how it will work.
A$60 (casino bonus) x 5( wagering requirement) = A$300
Therefore, in order for you to be able to withdraw the money that is offered in the bonus, you will then have to play with A$300.
However, at the same time, you will have to make a deposit as well, and we had said the minimum deposit is A$20. Therefore, the full bonus will be as follows:
A$20 (money deposited) + A460 (casino bonus) x5 (wagering requirements) =A$400
Why do casinos have wagering requirements?
Many players assume that the wagering requirements are a means for the casino to make money of the player. But this is not the case, as there is a valid reason for this. And that they are in place due to the fact that casinos need to meet the anti-money laundering regulations.
This is because, without the wagering requirements, criminals would have an easy time cleaning online casino funds and never coming back.
