what you need to know
So, about wagering requirements. We have all seen those ads for casinos that offer you free money right?
“Deposit £50 and get a £50 bonus”
Sounds too good to be true?
Well it is, sort of…
Casinos aren’t in the habit of just handing out cash, they want you to play with it. They want a chance to win it back so they attach various conditions to their ‘gift’.
All these offers have terms & conditions attached to them, including wagering requirements which essentially means that you have to play with that money a certain amount of times before you get to withdraw any winnings.
So how does it work?
Well in most cases you will have to wager at least 50 times your bonus value so for example £50 bonus x 50 = £2500.
So let’s say you bet £50 on a single spin of a slot and win £2500 on your first attempt, you would then need to bet that £2500 before being able to collect any winnings. That might be made up of 100 bets of £25 or 1000 bets of £2.50: so they make you work for it.
In addition, sign up bonuses like these usually have to be used in a certain timeframe (typically 30 days). Otherwise anything in your bonus account will be forfeit AND there may be a cap on what you can win with this “free” money.
The other thing to bear in mind is that the Terms & Conditions usually say that you must accept this bonus when making your initial deposit: you can’t go back and ask for it later.
And some casinos have a withdrawal cap which means anything you win above that will be null and void. So for example you might win £300 but the max withdrawal allowed is actually only £200: in other words you forfeit £100. It’s still a good result but it might make you feel a bit sick so best read the rules carefully to avoid disappointment.
So is it worth it?
Well yes, it probably is. The risk is low after all but then so are the rewards. You can have fun playing though, which after all is the name of the game – Right?