Heard of wagering requirements but don't exactly know what they are? We've got you covered as we explain wagering requirements in fiat and Bitcoin casinos.
Ask online casino players what makes them attracted to a casino, and they will most likely say that casino bonuses often do the job. This is how crucial the role of bonuses and promos are in inviting new and more players, and this is a known fact among casino operators. This explains then why fiat-money and Bitcoin casinos come up with exciting and eye-catching bonuses wherein the phrase ‘the bigger, the better’ mostly applies to. But what most players, especially the new ones, fail to realize is that there is a catch. And this is no other than the existence of a wagering requirement. But what exactly is it and how does it work?
What is Wagering Requirement?
-It determines the number of times players must bet the bonus money in order to be able to make a withdrawal.
-It is a condition, besides the minimum deposit and completion period, that you should meet to fully enjoy the casino bonus.
But is it necessary for online casino bonuses to have a wagering requirement, you ask? Well, the quick is answer is yes. After all, it exists not just to serve as an obstacle before you can enjoy the bonus, but to serve specific purposes that benefits players, operators, and the state as a whole.
Wagering requirement exists as part of the compliance of online casinos with anti-money laundering regulations. It is known that criminals may launder money via online betting. By setting up the wagering requirement, criminals will be prevented from using illegal money in online casinos where they can deposit and easily withdraw right after.
Besides compliance with AML regulations, the existence of wagering requirement also protects online casinos. How? It prevents players from abusing the freebies given by casinos, wherein a player would sign up, claim the bonus, then withdraw money right away. This practice would leave the casinos at a disadvantage.
Now that you know what wagering requirement is and its relevance, it is now time to know how to calculate for it, what to look for, and how to beat it.
How You Can Mathematically Calculate the Wagering Requirement of a Casino Bonus
Never think of skipping this part because you definitely need to know by how many times you need to wager your bonus money or your bonus money and deposit amount before you can make a withdrawal. Yes, not knowing how to calculate the wagering requirement and that it exists are common reasons why withdrawals fail or get rejected.
Not only that, being able to calculate the wagering requirement of a Bitcoin casino bonus will help you choose the right bonus for you in relation to your bankroll. Imagine a Bitcoin casino that gives a 0.5 BTC Welcome Bonus when you deposit 0.0001 BTC, with a wagering requirement of 30x. This is how this bonus’ wagering requirement works:
Example: 1 BTC (welcome bonus) x 30 (wagering requirement) = 30 BTC
This means that before you can withdraw from your casino account, you must wager a sum of 30 BTC. This is the case if the terms of the Welcome Bonus only consider the bonus amount. But it is a different story of the wagering requirement applies on both the deposit amount and the bonus.
Example: [0.0001 BTC (money deposited) + 1 BTC (welcome bonus)] x 30 (wagering requirement) = 30.0003 BTC
How to Find the Wagering Requirement of a Casino Bonus
The next thing you should know is where to look at to know more out about the bonus wagering requirement. You should be able to see it as online licensed casinos are obligated to clearly state their bonus terms and conditions. Here are useful tips to find the wagering requirement of a casino bonus:
Check the bonus or promotions page.
Most online casinos have a dedicated page about the casino free spins, deposit bonuses, and other bonus deals they offer. Look at the bonus descriptions for the wagering requirement. If you cannot see anything on that page, there should be a link to the casino’s bonus terms and conditions.
Read the bonus terms and conditions.
This is where you should be able to see everything that a casino’s bonuses require, such as the minimum deposit, the maximum bet, and the wagering requirement, among others.
Talk to the casino customer support.
You can save yourself from reading the promotions page or the bonus terms by going straight to customer support, although it is necessary to read the bonus terms at least once. Ask the support agent via live chat about their wagering requirement, and you will most likely receive an answer or a link to the casino’s bonus terms page.
How to Beat Online Casino Wagering Requirements
Is this even possible? Not really, unless you simply do not claim the bonus or renounce it. But there are ways on how you can outwit online casinos with problematic wagering requirements.
Research and make the right choice.
You have to be smart to win big in online gambling using strategies and tricks. But you must be even smarter in choosing the fiat-money or Bitcoin casinos you want to join. Picking online licensed casinos is the better choice as you can guarantee that they comply with AML regulations, which as discussed earlier, obligates operators to clearly state their bonus terms and conditions. Check our Bitcoin casino review section to find out the list of licensed Bitcoin casinos.
Read the bonus terms and conditions, again.
We have already mentioned this earlier, and now we are stressing it once more. You absolutely must read the bonus terms to know all the requirements and conditions for each bonus, Yes, one bonus may have a different set of conditions from another. This explains why an online casino can have bonuses, each with different wagering requirements. Reading the bonus terms will help you find out what the wagering requirement is, which slots are qualified, and more. You will also discover what not to do when playing with bonus money.
Sign up and be ready with your bankroll.
Of course, you must always check if the casino bonuses match your bankroll. Better yet, it is wise if you wager the max bet amount allowed only in eligible games as specified in the bonus terms. This is important for you to be able to complete the wagering requirement as fast as possible.
Wagering Requirements of Top Bitcoin Casinos
Think you got everything you need to know about wagering requirements? If you are nodding, then it is time for you to know about the bonus wagering requirements of top Bitcoin casinos today.
FortuneJack Wagering Requirements
Cryptocurrency-only casino FortuneJack comes with a variety of bonus deals. One of which is the 110% First Deposit Bonus up to 1.5 BTC plus 250 Free Spins. This specific bonus requires a minimum deposit amount of 0.002 BTC. It comes with a max bet of 0.0014 BTC and must be wagered 30x. The FortuneJack wagering requirement is a standard among online casinos and is considered to be the average rollover. The second and third deposit bonus offers also come with a 30x wagering requirement and considers only the bonus money for the rollover. The 50% Weekly Reload Bonus up to 3.5 BTC, however, requires the bonus money to be wagered 40x for a 0.002 BTC minimum deposit.
mBit Casino Wagering Requirements
mBit Casino is a popular casino in the Bitcoin gambling scene. Accepting only BTC and selected altcoins, mBit Casino comes with an array of casino bonuses and promotions. For instance, it gives away a Welcome Bonus package good for the first three deposits. It gives away a 110% First Deposit Bonus up to 1 BTC plus 250 Free Spins. If this looks familiar, that is because this is exactly the same with the FortuneJack bonus. But you will see how the mBit Casino wagering requirements notably differ from the FortuneJack wagering requirements. With mBit Casino, you must deposit at least 0.0003 BTC to claim the bonus, which must be wagered 35x. This is five times more than FortuneJack’s 30x wagering requirement. The second deposit bonus must be wagered just as much as the first, while the third requires only 30x.
BitStarz Casino Wagering Requirements
Undoubtedly one of the popular Bitcoin casinos today, BitStarz Casino is known for its huge 5 BTC Welcome Package. While it gives away a massive bonus, you must deposit at least 0.5 mBTC and wager the deposit bonus 40x, though, in order to withdraw your funds. This BitStarz Casino wagering requirement applies to all BitStarz Casino bonus deals, except for the Bitcoin casino no deposit bonus and free spins.
* * * *
Ready for the real thing? Follow our tips about online casino wagering requirements and enjoy the games and bonuses offered by the top Bitcoin casinos today, especially the top welcome bonuses in Bitcoin casinos. Want a level-up? Play Bitcoin casino progressive jackpot slots and win much bigger.
If you’re interested in getting an updated 2020 list of all Bitcoin casino reviews for this market, check out the casino review section.