How To Understand The Wagering Requirements With Casino Bonus Offers
New players can now choose from a large number of enticing sign-up (or welcome) casino bonus promotions. If you are a new player, registering for the first time at an online casino, then you can enter a bonus code when you make your first deposit of cash into your account. The casino will then give you some free money or free chips. Sometimes there will be a separate bonus account, or sometimes it will just be added in to your main account.
The player will not be allowed to withdraw the bonus money straight away. He will have to meet the so-called wagering requirements for that bonus. This defines that he must wager a certain sum of money at the casino before he has full access to the bonus money, and any winnings he might have. The wagering requirements are usually expressed as a multiple of the bonus, for example 20x bonus, or a multiple of the bonus plus deposit, for example 10x bonus plus deposit.
Players of strategic games such as blackjack can use the bonus, by very skillful and consistent play, and eliminate the small house edge on those games. For that reason there are often restrictions on the games that can be played to meet the wagering requirements. Some bonuses will not allow strategic games at all, others will only allow a certain percentage, usually 10% or lower, from those games to contribute towards the wagering requirement.
On the other hand the house has a large edge in games such as slots. Generally 100% of money wagered on slots will count towards the wagering requirement.
A short example will help explain this. Suppose the bonus offer is “100% deposit match up to $100″, and the wagering requirements (WR) are 10x bonus plus deposit.
We will quickly calculate the WR (wagering requirement). If deposit is $100, then bonus is also $100 since it’s a deposit match offer. WR is 10x bonus plus deposit which make $2000.
Now you have played for a while and have wagered $1000 total on slots, and $1000 on blackjack. Have you met the $2000 wagering requirements yet?
Well, first you need to know what percentage contribution each game makes to the wagering requirement. You need to check the bonus offer terms and conditions for this, but in our example slots contributes 100% and blackjack contributes 10%.
This means that your wagers on slots contribute 100% of $1000 which is $1000, but the wagers on blackjack only contribute 10% of $1000 which is $100. Your total amount contributed to the wagering requirement is $1000 + $100 which is $1100, which is still $900 short of the full requirement.
You cannot withdraw your winnings yet. If you played slots only from now on you would have to wager another $900, but if you played blackjack only you would have to wager another $9000. It is important that you check the wagering requirement rules of any bonus offer carefully. You can sometimes get better deal by picking an offer tailored to your own favorite games.
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