Online casinos often offer players promotional bonuses, with a common one being free spins on specific slot games.
However, these perks come with certain conditions known as wagering requirements, which may be confusing to new players or those who have never come across the term before.
In this post, we will delve into the intricacies of wagering requirements for free spins, explaining how they work, how to meet them, and what happens if they aren't met.
Wagering requirements are essentially the conditions that a player must fulfil before they can withdraw any winnings derived from the free spins.
Wagering requirements are typically represented as a multiplier (e.g., 10x, 20x, 50x) of the bonus amount or the winnings from the free spins. For instance, if you win £10 from free spins and the casino has a 20x wagering requirement, you would need to bet a total of £200 (£10 x 20) before you could withdraw the £10.
Thus, wagering requirements are a mechanism for casinos to ensure that players use their bonuses to wager on games rather than simply withdrawing them, which would be financially detrimental to the casino.
How Do You Meet Wagering Requirements?
Meeting wagering requirements involves placing bets on eligible games to the value of the specified multiple of the bonus or winning amount. The process varies depending on whether the bonus is a deposit bonus or a free spins bonus.
Deposit Bonus
For a deposit bonus, the process is straightforward. Suppose a casino offers a 100% deposit match bonus up to £50 with a 35x wagering requirement. If you deposit £20, you will receive an additional £20 as a bonus, totalling £40 in your account. To meet the wagering requirement, you need to place bets worth £700 (£20 (bonus funds) x 35).
Free Spins Bonus
For a free spins bonus, the process is slightly different. Suppose a casino offers 20 free spins on a specific slot game with a 30x wagering requirement. You use your free spins and win £10. To meet the wagering requirement, you need to place bets worth £300 (£10 x 30).
What Happens If You Don't Meet Wagering Requirements?
If you fail to meet the wagering requirements within the specified time limit, the casino will typically forfeit the bonus and any associated winnings. This means you will not be able to withdraw the bonus or any winnings derived from it.
Therefore, it's important to understand the wagering requirements and ensure you can realistically meet them before accepting a bonus. It's crucial to read the terms and conditions to understand what is required to fulfil the conditions of the bonus offer.
Are There Any Free Spins With No Wagering?
Yes, although relatively rare, some online casinos do offer free spins with no wagering requirements. This means that any winnings you earn from these free spins can be withdrawn immediately without having to meet any wagering requirements.
However, these offers are typically much smaller than offers that have wagering requirements attached to them. They also may come with other conditions, such as a maximum withdrawal limit.
Be sure to read the terms and conditions carefully and only accept bonuses after understanding what they entail.
Conclusion
Wagering requirements for free spins may seem confusing at first, but the more you read about the subject, the more straightforward you find they actually are. They are essentially a way for casinos to protect themselves against players from taking advantage of the bonus offer.
Wagering requirements are also a security measure that helps to prevent money laundering.
They are a key aspect of how online casino bonuses operate, ensuring that bonuses and free spins are used for gameplay rather than simply being withdrawn. Therefore, familiarising yourself with how these requirements work, how to meet them, and the implications of not meeting them can help you to know what to expect if you encounter them.
Always read the terms and conditions before claiming any bonus offer, so you know what you're signing up for, and, as always, please gamble responsibly.
*All values (Bet Levels, Maximum Wins, etc.) mentioned in relation to these slot games are subject to change at any time. Game features mentioned may not be available in some jurisdictions.