What is a wagering requirement?
A wagering requirement is a multiplier of the number of times that you have to play through or bet a bonus to be eligible to withdraw your winnings. With the majority of bonuses, you will not be able to withdraw the bonus money or winnings associated with that bonus until you have reached the wagering requirements set down by the operator.
For example: I am given a £10 Bingo bonus with a 2x wagering requirement. This means that I must spend £20 on any eligible games before I can withdraw any winnings gained from the bonus money.
Wagering requirements are universal in both the online bingo industry and in online gambling in general. However, these requirements vary drastically across the various operators and across the games within each operators site which affects your ability to access your winnings in a timely manner. This also affects the real value of your bonus. Sometimes a bigger bonus is not always the better value. For example, you may be able to get a £50 bonus with 2X wagering requirements or a £80 bonus with 4X wagering requirements. With 4X wagering requirements, you need to wager much more which also leaves your winnings at a higher risk of being lost in the interim. Additionally, many sites have an expiration on their bonus meaning that if you have not met the wagering requirements before the expiration date you will forfeit the bonus and potentially lose the winnings attributed to the bonus. You always need to do the math and consider which bonus will take the shortest possible time to clear.
Let’s look at some simple examples of wagering requirements in bingo to understand how they work.
What is a 20x Wagering Requirement?
Let’s say for example an online bingo site is offering a 100% bonus up to £100 with a 20X wagering requirement. You make your first deposit of £100 and receive £100 in Bonus money. The 20X Wagering requirement means that you need to wager 20x£100 = £2000 before the winnings on that bonus can be withdrawn.
What is a 30X Wagering Requirement?
Let’s say for example an online bingo site is offering a 100% bonus up to £100 with a 30X wagering requirement. You make the same first deposit of £100 and receive £100 in Bonus money. The 30X Wagering requirement means that you need to wager 30x£100 = £3000 before the winnings on that bonus can be withdrawn.
The same goes for 10X, 40X or 50X wagering requirements.
How does a wagering requirement affect my winnings?
Usually, the operator will store winnings you make while playing games with an outstanding wagering requirement until you meet that requirement. Additionally, you will not be able to spend these funds in order to bring down the wagering requirements. Instead, your cash balance will be used first. Once you have played through the wagering requirements with your cash balance your funds will be released to your withdrawable cash balance. If you happen to have bonus funds in the bonus all subsequent winnings created with those bonus funds will be also paid to your cash balance.
What wagers count toward my wagering requirements?
Depending on the bonus the operator will usually attribute the wagering requirements to a specific game. For example, on bingo bonuses usually only wagers on bingo games will count toward the wagering requirements. Whereas, on slots bonuses wagers only on slot games will count toward the wagering requirements.
How do I see how much I have left to wager?
Usually, if you navigate to the cashier section of the bingo sites you will be able to click on the cash balance and view your playable balance which will include free bets, bonus cash and withdrawable cash to give you a total cash balance. Sometimes, operators will include other information including pending transactions and pending winnings in this section of the site.
Where can I find the wagering requirements?
Thanks to the strict laws and regulation around online gambling and online bingo wagering requirements have become very visible when you are choosing a bonus. Always read the fine print below the bonus that tells you the minimum deposit, safety information and wagering requirements clearly. If you want more information to follow the terms and conditions to get a detailed breakdown of the wagering requirements on the bonus. If for some reason you cannot find the wagering requirements stated clearly in the site visit the live chat, email or call support on the phone to ask the wagering requirements before you begin playing. If you begin without checking the wagering requirements and try to withdraw in the middle of wagering because you are unhappy you will have to forfeit your bonus and any winnings related to that bonus.
Why do wagering requirements exist?
Wagering requirements are probably the worth thing a player can see. However, they are not just there to take your money. They have a legitimate reason to exist. Wagering requirements are in place to protect the operator in its compliance with anti-money laundering regulations. If gambling sites didn’t have them it would be easy for criminal enterprises to deposit illegal funds and withdraw them without wagering. The fines for a gambling site not taking its AML compliance duties seriously are huge.
How do I Beat Wagering Requirements
The honest answer to this question is that you cannot beat the wagering requirements. They must be met. What you can do nowadays is go to a no wagering requirements casino so that you can play and withdraw your winnings should you have any immediately. We have a full page about the ins and outs of No Wagering Bingo to check out. The second option to avoid wagering requirements is to not accept your bonus and to play only with the cash you deposit. However, it’s hard to say no to boosting your bingo bankroll by 2 or 3 times with a good welcome bonus.
What are low wagering requirements?
Low wagering requirements bingo sites and low wagering requirements casinos are operators who offer the player a much lower wagering requirement than the industry average. We would suggest that a low wagering bingo site is one that offers 2X wagering requirements on bingo games and anything under 45X on slot games. Take a look at our list of low wagering requirements bingo sites if you have interest in low wagering bingo.