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Almost all online casinos give some kind of bonus to their players. There are many types of bonus: sign up bonus, cash back bonus, loyalty bonus, and many more. Given the great number of bonus variations, each one with their own rules, it's a good idea to know exactly what casinos are giving you to avoid complications. We publish some articles in this section to help you better understand all casino bonus rules and implications.
The Wager Requirement
Posted by: SharpGambler on Fri, 11 February 2005 21:41:32 +00:00 (987 Reads)
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If you have received any bonus from an online casino you should now be familiar with the wager requirement they impose. If you don't know what it is, you should read this article because this is an important issue.
Almost all online casinos offer bonuses to new players and to existing ones. The reason is to atract new players and to keep them loyal to the casino. These bonuses are an excellent leverage to your initial money, allowing you to play with 2 or 3 times the chips you purchase.
Even if you are not familiar with online casino gambling, you should have seen, by now, online casinos offering you 100% match bonuses and no deposit free chips to try them out. They want you to play at their casinos because they think they offer a good service and gambling experience and because there is a lot of competition amongst online casinos. These bonuses offers are quite tipical, and you should not be affraid of using the free money they give you. Although, there are some issues that you should care about in order to avoid problems when you win and want to withdraw your money. The most important thing you should look at is the wager requirement.
What is the wager requirement? Why this imposition?
Of course online casinos can not give you free money without imposing certain rules. They offer you free money in order to enhance your experience at the online casino and to catch your attention. They want you to play and not to receive the free chips and run away with their money. If there is no requirement, you could deposit $100, receive $100 free, and withdraw $200. That's very nice for you!!! Not for the casino, of course. That's why they impose a wager requirement.
The wager requirement is a certain number of times you must bet a certain amount of money. Online casinos usually require you to wager X times your initial purchase plus the bonus offer. For example, if you made a purchase of $100 and they gave you $100 free, you should place an amount of bets of X times $200. If X is 10, you should place a total amount of bets equal to 10 x $200 = $2000. Before you can cash in your winning you must place $2000 in bets.
You should look with care at the casino terms and conditions. All online casinos must have a page with terms and conditions where they explain all the casino rules and policies, and where an explanation of the bonuses terms and conditions must be. If you can't find the terms and conditions at the casino page, contact them, asking for the rules before using the bonus. We are also here to help. You can use our contact form to ask us for help regarding this kind of issues. We will be more than happy to help you.
Almost all online casinos impose a wager requirement but the 'X' I spoke above varies drastically between casinos. That's why you should look at the terms and conditions page. Some casinos will impose you to wager 5 times the deposit plus bonuses and others will impose you to wager 40 times the same value. 40 times is too much, and 5 times is a very generous offer.
I hope I have clarified you about the wager requirement. Please note that the wager requirement is not the only requirement online casinos have regarding bonus use. Sometimes they impose you other requirements like a maximum withdrawal, minimum withdrawal, non-cashable bonus, and other requirements.
Note : Online casinos usually impose some wager requirements on their bonus offers to guarantee that the player really uses the bonus to play.