- Online casinos have lots of bonuses and each bonus has a “terms & conditions” page. And when you read these terms, you will see that “online casino wagering” is mentioned each and every one of them. In fact, casino wagering requirements are directly tied to these bonuses: Basically, you don’t get the bonus before completing them.
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Wagering requirement is a casino term meaning the sum of money that needs to be wagered before the given bonus will be turned into real money that you will be able to withdraw.
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Wagering requirements may be met upon receiving most of the bonuses. In this article, we will tell you the ways it is calculated, wagered, and withdrawn. Furthermore, you will find here some points, which, if not followed, may lead to bonus cancellation or even a closure of the account.
Bear in mind that the winnings received using the bonus money turn into real money after the wagering requirement is met. This money does not have any use restriction.
What is wagering in a casino?
Wagering requirement in a casino is a bonus that needs to be turned over a specific amount of times. This helps new players to adapt quicker.
This is usual point in terms and conditions of most casinos. This is a mandatory part of any loyalty program, rewarding players for their choice of casinos. Moreover, this is one of the methods of keeping the players from taking free money and leaving the website not using any of the services.
Wagering requirement has emerged at the start of online casino development. It became the cornerstone method of fighting against cheaters and players that are in a casino only for money and not entertainment. To secure themselves, online casinos started to write special terms and conditions to let players enjoy the experience and stay a profitable business.
From that time, there is a standard formula for calculating the wagering requirement of the bonus.
Wagering Requirement = Bonus Sum * wagering coefficient
Usually, the wagering coefficient is written in the following format: x40, x50, and so on. x40 coefficient is the most popular. The latter means that the given sum needs to be wagered a specified amount of times. For instance, if you received €100 bonus, you need to make bets worth €4,000 (€100×40=€4,000).
Other wagering requirements
There are some other wagering requirements in addition to the coefficient because of the sly bonus hunters that are trying to make fools out of casinos.
The most common requirements are:
- Wagering time. The bonus must be wagered in a specific amount of time, 12 hours, a day, a week. Otherwise, it will be canceled.
- Maximum bet restriction. This is done in order for the player to not spend their bankroll to quickly.
- Game restrictions. The limitations may be in a form of complete restriction or a maximum cap for bonus sum wagered. For example, most of the casinos do not let to play videopoker with bonus money, roulette, and progressive jackpot games, or they set a low bonus contribution for those games (10-15%).
Casinos always check the ways the bonus money was wagered. In case the rules of the promo were violated, all the winnings will be canceled. You will have to keep track of the T&Cs by yourself. The excluded games in the promo will not be blocked from playing, be careful!
Attention! Some casinos may have wagering requirements that apply not only to the bonus amount but to the deposit as well. This means that you will have to wager a much larger sum. In order not to make a fool of yourself, read the terms and conditions very carefully. If they are not clear enough, do clarify them asking the support team.
How to wager the money?
So, wagering the bonus money should be done following casino’s rules. It is important to choose the right games for doing it, having excluded the ones that are restricted to play. Furthermore, exclude the games that have a low bonus contribution percentage.
The optimal games to wager you bonus money are classic slot with the RTP higher than 97%. Why? Because after a set period, you will still have 97% of the bonus money.
In order to reach this number of RTP, the payers has to make hundreds of smaller bets. Only in this case will you be able to reach the RTP set by the developer. Trying to quickly wager your money, there is a chance of falling on the losing streak and flushing all of the bankroll.
What about not wagering the bonus?
If receiving an extra amount of money is not your priority, do not pay attention to the wagering requirements. In this case, the bonus money will be canceled after the wagering time has passed.
As a matter of fact, you may not withdraw the bonus money that is partly or not wagered at all. If the bonus wagering requirements are not met in full the bonus will be forfeited. The money will be available to withdraw only when the requirements were all done right.
What about a smaller wagering requirement?
Good news, you may find one! Some online casinos offer smaller wagering requirements, especially for high rollers. If you are interested in the gameplay and having a good tie in a casino, the management may offer you a lower wagering coefficient than usual.
Although, usually, these conditions are tailored personally. The designated casino manager may offer a lower wagering coefficient with a higher maximum bet amount.
Online casino ShangriLaLive offers classic wagering requirements with minimum restrictions. Furthermore, each player making the first deposit will receive hundreds of free spins in addition to 100% bonus.
Exotic Wager is a term generally associated with horse racing. However, in any type of gambling sport, an exotic wager or an exotic bet is an unusual betting. Unlike straight bet where the players bet on a winning “team”, an exotic bet is more complicated. In Bingo, exotic refers to an unusual combination of numbers that records a win. In Casino and online casino games, this term is rarely used but holds significant importance.
How does an Exotic Wager works
Wager or Betting go hand-in-hand with casino games. There are different types of wagers with different winning probability, risk factor, and payout. Any kind of wager work more or less in a similar manner. With every bet that a player places, the payout is won by correct predictions of the game.
Straight bets are the simplest types of wagers, bets are placed on the team or the player that is likely to win the game. An Exotic wager is more complex and it includes more terms than a simple bet. This includes any unorthodox casino game play. For example, an unusual strategy in roulette or placing a wager on an improbable poker hand.
Exotic Wager in Depth
Wager Rules
An Exotic wager is not placed on one direct outcome. It’s on a combination of correlated outcomes. These outcomes are highly improbable hence very risky. The chances of winning are very low and hence the payout is quite handsome. When similar bets are played for low-stakes they are called “chance bet”.
Exotic bets are usually played by experienced players. Veterans of the game often risk-high to earn more. The chances of winning are very low but the payoff is very big. Because of the high-risk factor involved, newbies and play-it-safe gamblers do not place exotic bets, instead and go for straight bets.
Gimmick bets, Accumulators, Round Robins, Box reverses are all a type of exotic wager. Moreover, any unusual combination of bets falls under the category of exotic bets. An Accumulator is another one of the exotic wagers.
Accumulator
Accumulator also knows as “Acca”, is a type of exotic bet. Acca depends on several different less likely outcomes. Thus, it involves high risk and high payout. The final payout in an Acca bet depends on “multiplied odds” of each single win outcome. Acca bets are generally seen in horse racing and soccer (football) games. However, Acca is enjoyed in almost every type of gambling and casino games.
How Acca works
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Placing an Acca bet means placing a bet on three or more co-related selections (probable winning outcomes). Unlike a straight bet, there are more than 3 results related to each other in one Acca. To win an Acca, a player have to win all the possible outcomes. Failure in winning any of the selections will lead to a zero payout. That’s why Acca is a high-stakes bet and is generally played by big gamblers. In Sports like soccer, Acca is very famous as it gives big payout from a significant low bet.
In casino games, Acca or exotic wagers work in an interesting way. The gamblers pick more than two selections or winners. If all the selected players by the gambler win, then a big profit payout is earned. However, if any of the selected outcome or player fails, the gambler gets paid nothing. And the final payout depends on individual bets placed on all the players or selections.
Sometimes, an Acca or the other type of exotic bets can be “folded”. If the gambler is unsure of all the selections, the bet can be cashed out. This will result in low-profit payout on individual bets. Exotic wagers involve very high risk, that’s why they’re rarely used in online casino games.