The first thing I learned when I started gambling online is wager and wager requirement. It doesn’t take long to know what it means, but it takes a bit of practice to understand how it applies to online gambling. But in order to be truly proficient at online gambling, you need to understand how these two are related and how you can use it to maximize your winnings. Each casino requires a different wager requirement and depending on the game you play, it can either be a disadvantage or an advantage. Most players claim that wager requirement is just another way for casinos to leech money off of players, a sort of fee for players to pay before they can play, but they do serve a more practical purpose that not many people know about.
Frequently Asked Questions
What is wager and wager requirement?
Basically, a wager is money that you bet in a game. A wager requirement is an amount you need to bet so you can claim your winnings. For example, if I receive a winning of $50 with a 5x wager requirement, I need to spend at least $250 on games before I can claim any winnings I have gained. Each casino has their own house rule of how much wager requirement they charge to their players but they pretty much work the same way.
How can I know a casino’s wager requirement?
There are certain laws in place that require casinos to make their wager requirements public knowledge. This is usually found in the Terms and Conditions page. This is the part where players should read the fine print especially when they are offered a cash bonus or free spins by online casinos. Some of these bonuses require a minimum wager requirement before any winnings can be claimed. You can also ask customer support for the information if it is not provided clearly in the brochure or in their site.
Why it exists?
There are many players who think that wager requirements are in place for casinos to make as much money as they possibly can off of their players but that’s not actually the case. Wager requirements, by law, are enforced for casinos to comply with anti-money laundering. Without this law in place, it would be so easy for criminals to use online casinos to clean their illegal money through depositing and withdrawal.
How do wager-free bonus work?
Many casinos know the appeal of a wager-free bonus and take full advantage of them to lure new players into their doorsteps. These are bonuses or freebies that casinos give out to customers which can then be used to play any number of games. Any winnings that they accumulate can be withdrawn without any wager requirements. To offset the casinos’ expenditure, these bonuses have a small value, usually not amounting to more than $5. This is a good way for online casinos to promote their offerings and get people to sign up to their website.