Casino bonuses with low wager requirements in 2020
Before you can start enjoying bonuses, you need to understand the low wagering requirements of online casinos first. You cannot really enjoy that bonus and any profit that you will get from it unless you meet the wagering requirement.
You have to remember that online casinos are still in it for the profit. Sure, they will give you a bonus just for signing up with them and creating an account. And when you make your first deposit, you are most likely to get a bonus as well. If you are a new player, you will be enticed to sign up if it means you are given this bonus money that you can play with. If you deposit €100 and they will give you another €100 as a bonus, that would leave you with €200 to play with. That is awesome, right?
It seems too good to be true – but what is the catch?
If you think that there is something fishy about all these freebies, do not fret. All of these are strategies are not there to trick you. These are actually part of a system that all online casinos implement to help protect the whole industry. At the very most, the bonus will encourage you to really commit and try out the online casino.
But for you to really enjoy the bonus – specifically the profit and winnings you will get out of it, you need to meet the casino bonus wagering requirements first.
What is a low wagering requirement?
Let us define a wagering requirement first. This is simply the number of bets that you need to meet in order to be allowed to withdraw the winnings you got from the bonus money. Basically, that means the bonus money is not really free. Before you feel like you had been tricked – that is not true. The bonus money is yours to use so you can play more games and explore more of the online casino and play longer without putting in more money.
Now that is clear, what is a low wagering requirement?
This is the minimum bets that you need to meet in order to cash out your winnings. When you get a bonus for either signing up or making a deposit or simply by being loyal to an online casino, you need to use that money first. You cannot cash it out.
Characteristics of a low wagering requirement
Here are the important things that you need to know about it.
- You need to use it to make bets depending on the “x” amount of times that the online casino requires. For instance, there is a wagering condition of 20x the bonus amount. If you got €100, that means you should bet €2,000 in the games.
- You can reuse the winnings that you got – as long as the worth of bets will reach that amount. Only after that can you withdraw any winnings you got from using the bonus money. You might think this is a huge amount but if you play the slots, you will reach this amount in no time at all.
- You have to consider the gaming contributions too. Some online casinos will not allow you to meet the wagering requirements by just playing slots. Some will require you to play a couple of table games too. Not only that, some casino games will only consider a percentage of your bet to qualify as a wagering requirement. For instance, a Roulette game will only contribute 10%. So if you bet €10, only €1 will be added to the wagering requirement.
With all of these, it is highly possible that there will be nothing left of the bonus money after you have met the low wagering requirements. However, you need to consider the fact that you could already have a substantial amount when it comes to the winnings that you got from betting the bonus money.
Make sure that you read the terms and conditions of the online casino so you know how to use the bonus to your advantage.
About low wagering online casinos
Maybe you are wondering, why do online casinos use low wagering requirements? As mentioned, this is not meant to trick you to play their games. It is a system that puts a certain balance in the industry. When you first understand what it is all about, you will think it is quite sneaky. But in reality, it is not.
In the past, online casinos did not have the wagering requirements. This led to some players abusing the bonus that they are giving away. Instead of removing it, the wagering requirement was implemented. This allows them to flush out the abusive players while still rewarding those who sincerely just want to enjoy playing online casino games.
Of course, this does not mean they are still above reproach. Some, admittedly, would impose difficult terms and conditions that will make it hard to meet wagering requirements. This makes withdrawal next to impossible. This is how low wagering casinos come out to balance the whole thing. With the presence of these online casinos, other sites have to stay competitive. That means they are forced to loosen the restrictions with their respective wagering requirements.
Over time, more and more online casinos have emerged with an offer of low wagering requirements. While this seems like good news for everyone, you still have to exhibit a certain level of cautiousness. A low wagering requirement should not be the sole reason for you to try out an online casino.
Make sure you have checked the signs that they are secure, safe, legit, and also trustworthy. Explore the games you see on their website and read reviews to see if the positive outweighs the negative. A low wagering requirement and a bonus should just be the icing on the cake.
Benefits of low wagering requirements
Probably the main benefit of low wagering requirements is in helping online players have enough funds to explore the online casino and play the games. However, there are other benefits that it can give to the industry as a whole.
- It keeps players from abusing the bonus. Some would just get the bonus and withdraw without really using it to play games or make bets. This will end up as a loss to online casinos.
- It forces online casinos to implement reasonable and transparent wagering requirements and withdrawal conditions. While the wagering requirement is for the benefit of the online casino, it can also be subjected to abuse. This will leave online players at a disadvantage. When some online casinos implement a low wagering requirement, this will force others to stay competitive by offering their own.
- It separates the online casinos who are fair. A low wagering requirement showcases the effort of an online casino to be fair and honest with the online players. This establishes trust and respect across the industry. It also becomes a sign of a reputable and trustworthy online casino.
As you can see, the low wagering requirement is not just there to make sure that you try out an online casino. It does have a role to play in maintaining a balance in the online casino industry.