If you’re looking to bag some bingo bonuses and play for free then you need to know all about wagering requirements. These are terms and conditions that go along with your bonus and dictate what you can do with them.
Wagering Requirements Explained
The ins and outs of the terms of a site might not be something that you usually check out. Wagering requirements should be part of your vetting process before you play somewhere though, as it will affect your winnings. Basically, these are conditions that come along with your bonus and you’ll need to satisfy them to withdraw.
These come in all shapes and sizes, but ideally you want to find a site with a lower wagering requirement, as you’ll be able to withdraw that cash quicker.
Best Sites with Low Wagering Requirements
mFortune has an excellent ‘keep what you win’ policy on their £5 free no deposit bonus. There are no wagering requirements whatsoever!Visit website for full T&C's.
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Lucky Cow Bingo
Lucky Cow Bingo offers low wagering requirements & an excellent welcome bonus. You can get up to 500 free spins every single time you deposit.Visit website for full T&C's.
What Are Wagering Requirements And Why Do They Exist?
So, who exactly invented wagering requirements and why are they around for us players? For as long as there have been bingo bonuses there have been limits on how you can spend them. Sites want to offer players a great deal without them being able to take advantage.
As you’re playing with what’s essentially free cash, wagering requirements are in place to make sure that each game is fair. For example, funded cash players wouldn’t want to be beaten to a jackpot by someone playing with a no deposit bonus. It’s also really important from a legal standpoint for the site, as they use these requirements to combat money laundering. Although wagering requirements may seem like no fun, if money laundering was an issue there could be no more online bingo!
Sites are legally obliged to place the terms of their bingo bonuses in their overall bonus policy, which should explain it in no uncertain terms. Unfortunately, it all tends to get a bit complicated when you’re working out the figures, so here’s a no fuss guide for you.
What Do Wagering Requirements Look Like?
Wagering requirements are usually expressed with the letter X and then a number. The X simply stands for times and the number how many, simple enough so far. So, if a site has an X4 wagering requirement on their bonuses, you need to play through the same amount 4 times. This is where it starts to get confusing!
If you have a 100% bonus on a deposit of £10, then you have £10 of bonus funds in your account. If the site has a wagering requirement of X4 then you must play through £40 to withdraw.
How Do I Meet the Requirements?
Playing through the bonus is a term that you’ll see on lots of bingo sites but the definition can vary. On some sites this may mean wagering the bonus a number of times (in the above case X4) or adding more cash to get you on an even keel.
Can I Opt Out?
If you’d rather just play with your cash and not become concerned with these details then you can usually opt out of welcome bonuses. This can be done by inputting a code, checking a box or talking to a representative from the site. It might seem bonkers to some players but others on the site might not want bonuses because their requirements are so harsh.
Are All Wagering Requirements Created Equal?
The short answer to this question is ‘no’ as terms vary hugely from site to site. Some of them have different bonus policies that make the minimum withdrawal limits on bingo sites much lower than others.
With some sites, your wagering requirement only applies on the bonus cash given – whether this is a no deposit bonus or a deposit one. On other sites, your real money deposit can be included in the wagering requirement too.
To go back to our earlier example, this would mean your £10 real cash would be added to the £10 bonus funds, to give a necessary play through of £80 before you could withdraw. This makes a really big difference to players, so check out the terms to make sure you don’t get a shock when you withdraw.
Are There Time Limits On Wagering Requirements?
On some sites, you may need to use your bonus funds sooner rather than later to satisfy the requirements. This can be because of a time limit, which will clear all of the bonus funds out of your account when the deadline hits. In this case, it’s absolutely essential to know this information beforehand so you don’t get caught out.
Another way that you may lose all your bonus funds is by forfeiting them, which can happen when you make a withdrawal. Usually, if you have funds in your account that you would lose the site will inform you of this but this can’t be said for all sites.