A guide to Understanding your Online Casino Bonus and Wagering Requirements
In some online casinos, depending on which type of online casino bonus you have been awarded, you may discover that there are certain “wagering requirements” necessary in order for you to fully realise your bonus.
For example, your casino may state that you are required to wager thirty times your online casino bonus to turn it into credits that can actually be cashed out. What does this actually mean and how does it work?
To clarify this, let us use an example. Let us say you have joined Golden Tiger Casino and won $100 new player bonus from their test play offer (read more about this offer in our Golden Tiger Casino review). You go on and place into your account the minimum deposit of $40 to redeem your bonus. Now you have a total of $140 in your casino account to play with at the casino. Now the terms and conditions of the casino state that to be able to cash out, you need to wager your bonus amount thirty times.
This means that to turn your bonus into credits you can actually cash out, you will need to wager 30x $100, or $3000 in total. This may sound like an incredible amount at first, but read on.
As you play, you will see two different balances on screen adding up to your total balance:
$100 bonus + $40 cash = $140
Now you go on and play your favourite slot. On your first bet, you bet $20 and lose, which takes your total balance to $120. You just wagered $20. If on your next bet you decide to bet another $20 and win $40, your balance will now be back at $140 and your wagering total will be $40 because you bet $20 in your first and $20 in your second bet. Once your wagering total reaches $100, $10 of your online casino bonus will roll over to your cash balance, so you will see your balance as
$90 bonus + $50 cash = $140
So by keeping an eye on your bonus balance, you can track your wagering progress. Remember, your wagering total will not reset no matter how much your balance changes. Your wagering total is only a sum of how much you have bet in total, regardless of any winnings or losses you have incurred.
Still doesn’t make sense? Try watching this video from Casino Rewards explaining wagering requirements with a visual example!
