You’ve probably heard this term mentioned several times already as it’s a condition attached to the vast majority of deposit bonuses. But what is it exactly?
A wagering requirement is the amount of times a betting site requires you to wager your initial bonus sum before you can claim any potential winnings.
The wagering requirement you have to meet before you can claim your winnings often depends on what type of bonus you have opted for.
Percentage-based bonuses worked out from your original deposit will normally have a wagering requirement of 5-15 times the actual bonus sum. Whereas a free bet bonus usually has a wagering requirement that’s a lot lower, often 1-3 times the free bet bonus itself.
Then you’ll have ВЈ200 to bet with. But the wagering requirement for this deposit bonus is 10 times, meaning you would have to wager to a sum equivalent to ВЈ1000 of the original ВЈ100 you got as a deposit bonus to be able to cash out your winnings.
It’s important to note that betting sites present their wagering requirements in different ways: either in deposit sum + bonus sum or only bonus sum. This does make a difference.
We’ll continue to use the same example as we did before. Say you also make a deposit of ВЈ100 and then get a bonus of ВЈ100 on top of that. To be able to wager the bonus, you will need to wager your bonus + deposit. If we say the wagering requirement for this bonus would be ten times the deposit + bonus, then in order to cash out your winnings you need to wager a total of ВЈ2000 (i.e. ВЈ200 x 10 times).
To make it easy to compare offers from betting sites we always give you the total wagering requirement for the bonus sum. Therefore, in the second example we would write the wagering requirement as 20x.
Another important factor you should be aware of when you’re reading the fine print for your bonus is whether there is a requirement to play for minimum odds. Betting companies often stipulate that your bonus or free bet will only fulfil their wagering requirement if it is played in conjunction with the minimum odds that they have set. The minimum odds are usually somewhere between 2/5 and 1/1.
A welcome bonus or a free bet can often come with a limited period of validity. This is where the betting site only allows you to use your welcome bonus or free bet within a specific amount of time, usually from the point at which you register or setup your new account. This also means that you only have a limited time to reach to reach the wagering requirement on your welcome offer or free bet. A common mistake that can be made when it comes to reaching the wagering requirement is the validity period attached to bonus. Make sure you read the terms and conditions as not playing within the validity period often results in the player losing their original bonus sum!
Certain welcome bonuses often require you to enter a bonus code or promo code. If your welcome bonus or free bet has a bonus code it will be provided to you in connection with your initial deposit or after you have made any additional deposits. Many betting sites bonus codes and promo codes, but in a lot of cases newer betting sites don’t tend to use them.
Here are 3 simple steps to set you on the right track to finding the best deposit bonus for you: