If you are new to online gambling and betting, there may be a few terms that you are not quite familiar with. One of those could possibly be “wagering requirements”.
This term is widely seen throughout the casino industry, as it is a common condition that most iGaming sites will require players to meet before they are able to withdraw any of the winnings that they may have been able to achieve.
Wagering requirements will vary between operators, however they all have the same meaning: a minimum amount of money is needed to be wagered before a withdrawal can be made. They can typically be included in the small print of a number of bonuses and promotions that are typically offered, with welcome bonuses and free spins bonuses being particularly susceptible to these conditions.
How do wagering requirements work with free spins bonuses?
When casinos offer players a free spins bonus, they are doing exactly that to an extent. But there is a catch when it comes down to obtaining any wins that may be made when those spins are made. Remember, casinos are not in the business of giving money away for free!
Wagering requirements are almost guaranteed to be an aspect of the bonus terms and conditions; therefore, it is always highly recommended to check them out if you are looking to potentially win from them and withdraw any winnings as soon as possible.
An example of wagering requirements with a free spins bonus
With so many different free spins bonuses now available to choose from, it can be very difficult to know what the terms are and how to find them. Finding out what you need to know, though, can be very simple, although a quick example can be the best way to help you learn exactly what you need to know in regard to what you are supposed to be looking out for.
The 32Red promotions page helps to highlight things rather well with the example that they use, too. The British operator uses an example where they highlight that there are two elements to the wagering requirement.
The first part is in terms of how much needs to be wagered before a successful withdrawal can be made. The casino site uses an example of 50x the amount. This means the player has to wager 50x the value offered before they are able to withdraw any winnings.
The second part of the wagering requirement will typically be in regard to the timeframe in which the offer is valid, and winnings can be withdrawn from. Most free spins bonuses will have a timeframe of approximately seven days in which they need to be completed. This means 50x the value needs to be wagered within a week’s period before any winnings obtained using the promotion can be accessed and obtained.
Read the terms and conditions
Clearly, it is vital that players understand what they are getting into when they use promotions such as free spins bonuses. While they can be a great way to start playing your favourite games, it is vital individuals know what they are doing when they are using them.
As seen from the example above, it is not simply a case of using the number of free spins provided up and withdrawing whatever has been won when they have all been used up. Reading the terms and conditions of what the operator provides will clear any uncertainty.
Additionally, it will also make it evident whether the offer is right for you. Just because the offer is available, its specifics regarding wagering requirements may not always be as favourable as possible.
Can money be won from free spins bonuses?
Just because there are wagering requirements in place, it does not mean that there is not a possibility of being able to win money from a free spins bonus. Admittedly, you would have to be very lucky if you were to win, but there are instances where this can happen.
It is advisable to work out what the wagering requirement would be before starting to work out if you are able to win any money from the promotion, though. You may find you have to spend more than you could potentially win because of the conditions in place. The bonus might just be a great incentive and a way to start playing some of your favourite games.
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