2024-10-07 20:28 Tips

How Wagering Bonuses Work: A Comprehensive Guide

A wagering requirement is a condition that online casinos impose on bonus funds to ensure they are used for gambling rather than being withdrawn immediately. These requirements determine how many times a player must wager before being able to withdraw the winnings.

For example, if you receive a $100 bonus with a 30x wagering requirement, you will need to wager $3,000 ($100 * 30) before being able to withdraw the extra funds.

Different casinos set different wagering requirements, ranging from as low as 10x to as high as 60x.

Specifics of Withdrawing Bonus Funds

The process of withdrawing these funds varies across platforms, and there are several conditions to consider:

Maximum Bonus Win: Some online casinos limit the maximum amount you can win, typically capping it at 20-30x the amount received.
Time Limits: Most casinos set a time limit, usually between 7 to 30 days must be met. Failure to meet the requirements within this time frame results in forfeiture of both the extra credit and any associated winnings.
Cash-Out Restrictions: Players are typically not allowed to withdraw any funds until the betting prerequisites are fulfilled.

Additional Wagering Requirements

Apart from wagering multipliers, online casinos may impose other conditions:

Game Contributions: Not all games contribute equally. Slots usually contribute 100%, while table games like blackjack and roulette may only contribute 5-10%, if at all. Always check the contribution percentages listed in the terms.
Restrictions on Slots: Certain high-return-to-player (RTP) slots may be excluded from wagering entirely, meaning bets on these games won’t count toward fulfilling the requirement.
Wagering on Deposit and Bonus: Some casinos apply requirements to both the deposit and the extra fund amount. For example, a 30x requirement on both a $100 deposit and a $100 extra credit would mean wagering $6,000 in total ($200 * 30).

Quick tip from the BCraft team
For faster progress on wagering requirements, stick to slots as they usually count 100%. Avoid high RTP slots (over 96%), as they make it harder to hit your target. Overall, keep it simple!

Wagering Different Types of Bonuses

Cashback Bonuses

Cashback allows players to recover a percentage of their losses over a set period, typically from 10% to 20%. These generally come low (around 20x), making them easier to withdraw once requirements are met.

Free Spins

Free spins are often tied to specific slot games. Any winnings from these spins are subject to wagering requirements that vary widely. For example, winnings from free spins could come with a 10x or 60x requirement, depending on the casino's terms.

No-Deposit Bonuses

No-deposits are the most attractive for new players since they don’t require any upfront investment. However, they often come with high ones, typically over 60x, to compensate for the risk taken by the casino.

Reload Bonuses

Reloads are offered to players who make additional deposits after their initial one. The requirements tend to be lower and easier to meet than welcome ones, often in the 20x to 30x range.

Common Pitfalls to Avoid

While managing your wagering bonuses, it’s essential to recognize potential pitfalls that could affect your profitability and user satisfaction.

Here are some common mistakes we want to point out for you:

1. Overcomplicated Terms

If your bonus terms feel like a maze, you’re losing players. Keep it simple and clear. Confusing terms frustrate users, leading them to quit before they even start.

2. Neglecting Player Segmentation

All players aren’t created equal. Some prefer high-value, complex bonuses, while others just want something simple. Don’t offer everyone the same. Instead, personalize them.

3. Focusing Only on High-RTP Slots

While high-RTP slots seem like a win-win, they can slow down bonus clearance for your users. So don’t forget to mix in lower-RTP games that still offer fun but allow for quicker progress.

4. Ignoring Regional Preferences

Different regions play differently. In one market, slots might be king; in another, sports betting rules. Tailor your offers to local preferences to keep the engagement high.

How to Track Your Wagering Progress

Many platforms now offer automated progress tracking, giving users real-time updates through their account dashboard. Consider integrating a progress bar that shows exactly how much of the bonus has been wagered and how much is left, alongside any time limits.

Offering these features not only helps with user satisfaction but can also reduce the risk of bonus abandonment, improving both your retention and revenue!

Conclusion

Understanding wagering requirements is crucial for maximizing the promotional benefits you can reap.

And nuances - such as time limits, game contributions, and different types of bonuses can make or break the gaming experience for your users.

So if you want to make it from scratch, contact us! We’ll be glad to share all the tips & tricks you need to create an amazing iGaming experience!