Often players feel confused about the wagering requirements imposed on online casinos. This confusion can lead to great losses and can demotivate players to play at online bingo sites. However, the real meaning of the wagering requirement is a minimum spend condition made compulsory by online bingo sites while giving out a bonus to a player.
This minimum spend condition includes multiple bonuses. In other words, bonus play associated deposit or initial winnings in case of slot spin offer. A bingo bonus wagering requirement specifies that it should be on bingo tickets only and nothing else is counted. However, the slot bonus wagering requirements are known to be higher as compared to the bingo bonus wagering requirement.
- 1 An Example for Wagering Requirement at Online Bingo Sites
- 2 What is the reason behind bingo sites having wagering requirements?
- 3 How can you know the wagering requirement?
- 4 What happens if the player withdraws his winnings without filling it?
- 5 Meaning of spend order and its importance
- 6 What are Win Caps and Max Convertibles?
- 7 Conclusion
An Example for Wagering Requirement at Online Bingo Sites
Most of the bingo sites offer 4x bonus wagering conditions. For instance, if you make a deposit of £10 and got a 300% bingo bonus, it means the site is giving you £40 to play right in the beginning. However, it varies from site to site. Some bingo operators include the real deposit in the multiple concept.
What is the reason behind bingo sites having wagering requirements?
Here are some of the reasons defining bingo sites having wagering requirements:
- Bingo sites have to obey the anti-money laundering rules. The players cannot put in the money and take it out straight again, one playthrough deposit is highly essential.
- The best online casino sites UK ensure that in return for the bonus, players stay on the site and play for a while. This keeps the casino halls busy and attractive.
- Any bingo site offering bonuses without the involvement of wagering requirements cannot take action against players taking money out and depositing it immediately.
How can you know the wagering requirement?
According to the Gambling Commission’s set license conditions and codes of practice, the wagering requirements are always specified when any bonus gets advertised or offered. Earlier things were different and these wagering requirements were hidden in small print. But since 2015, bingos sites have been more careful about these wagering requirements. The terms and conditions are now shown near the offer so that players don’t experience any nasty surprises.
What happens if the player withdraws his winnings without filling it?
Bingo sites allow the players to withdraw their cash anytime they want (rules are different for international players). Therefore, if the player is playing with cash he can take the money or winnings.
Meaning of spend order and its importance
The spend order decides what will happen after the player buys bingo tickets or play slots even if your account has both cash and bonus. The bingo sites with Cash First spend order will never let a player start playing with bonus first until there is zero cash in the account. Here are three scenarios to explain this:
- The player won by playing with his deposit and took the winnings immediately. Thus, he will lose the bonus and won’t be able to play again.
- The player lost the cash and gets to play with the bonus.
- You won with the deposit and further continued playing with the winnings, but still, the wagering requirements are to be completed. Thus, the player gets to keep the bonus while withdrawing. But won’t be able to play with the bonus till there is cash in the account.
However, many bingo sites offer bonus first spend order to the players.
What are Win Caps and Max Convertibles?
You will often come across these terms at online bingo sites. They are basically the conditions imposed by most of the online bingo operators in order to restrict their liability while paying bonus play money to players.
A winning cap is basically a limit on the amount that players can win with the bonus offered by the site.
A max convertible is a limit on all the bonus winnings that can convert into withdrawal cash.
Thus, bingo and casino operators limit their liability while paying free bonuses or spins.
The wagering requirements are important for both players and bingo sites. However, the players can still find a way out by playing at bingo sites that offer you to opt-out of the bonus. Also, there are some of the best new online bingo sites UK that don’t have wagering requirements.