Bingo Bonus Wagering Requirements
Understanding Bingo Bonus Wagering Requirements & How To Benefit From Them
If you've been playing online bingo for a while you're probably already well accustomed to the various bonuses bingo sites throw at you - welcome bonuses, reload bonuses, cashback bonuses, free bonuses, you name it!
Whether you're new to online bingo or not, then this article is a must-read and could potentially save you £100s.
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What bingo sites don't make very clear to you when they shout about all their fantastic offers and sign-up bonuses is the terms and conditions that come along with them.
Sure, we all know nothing comes for free, but with playing bingo comes the chance to win money, and so nothing can be more aggravating and disappointing than to have your withdrawal declined when you go to collect your winnings.
Why does it happen? (And yes, it does happen, far too often) Because that lovely welcome bonus they promised you must be played over 10 times before you can withdraw any winnings - that's the wagering requirement, written in the bonus terms, usually hidden deep in the site's terms and conditions.
"..Often the wagering requirements can be so harsh that it would be better to skip the bonus and use your own money instead.."
Nowadays bingo sites are becoming more transparent about their bonus terms and wagering requirements, and people are wising up to them, but there's no excuse for not checking and understanding the terms of the bonus you're about to accept. Often the wagering requirements can be so harsh that it would be better to skip the bonus and use your own money instead.
Wagering requirements are in place to prevent abuse of the bonuses offered by gaming sites. If there were no wagering requirements or terms, then you could simply register with a new bingo site, claim your £200 bonus, and then withdraw it without even playing. There's not much in that for the bingo site and they would rather quickly go out of business!
The wagering requirements usually stipulate that as a minimum you need to play through your bonus before you can withdraw any winnings. What this means is that if you received a £10 bonus you would have to wager at least £10 before you could withdraw any winnings generated from it.
""..some wagering requirements out there might state that you need to play through the bonus as much as 20 times over before you can withdraw any winnings from it.."
That probably sounds reasonable to you, but some wagering requirements out there might state that you need to play through the bonus as much as 20 times over before you can withdraw any winnings from it. So, if you received a £10 bonus, you'd have to wager it over 20 times (£200) before you could make a withdrawal.
"How can I wager £200 from a £10 bonus?" I hear you ask - well imagine you kept winning small amounts at bingo and used those winnings towards the next game. Each time you play a game the buy-in amount counts towards your total amount wagered, which soon adds up and can be many times more than your initial deposit or bonus amount. Naturally though, whether you are able to fulfill the wagering requirement would depend on how much the bonus was and how much you win - a small win might not give you enough to keep playing through the wagering requirement - especially if it's very high.
As briefly mentioned above, if you've been lucky enough to win something off a bonus, it can be shattering to find out that you can't withdraw it because you haven't fulfilled the wagering requirements, which you later find out to be more than the winnings.
For example, let's say you received a £10 bonus, spent it on bingo tickets in a single game, and then won £20. Great! Well, maybe not - if the terms of the bonus stipulated that you had to wager the bonus 3 times over, then you haven't yet fulfilled the wagering requirements of the bonus, and so you wouldn't be able to cash-out.
To fulfill the wagering requirements you'd need to wager a total of £30 (£10 x 3), and so far you have only played one game and wagered a total of £10. You'd therefore need to spend another £20 before you could cash-out, and if you don't win again then that's your £20 in winnings all gone.
"..Imagine how ecstatic (and then peeved) you'd be if you had won £200, only to find out the wagering requirements are 20x. You'd have to spend that £200 before you could cash-out.."
Imagine how ecstatic (and then peeved) you'd be if you had won £200, only to find out the wagering requirements are 20x. You'd have to spend that £200 before you could cash-out, which might not result in any more winnings at all!
Additionally, as the amount you have to wager depends on the size of the bonus, then if you've received a large bonus it can take a very long time to fulfill the wagering terms if you're only playing for small amounts. For example - you've received a £100 bonus and the wagering requirements are 10x - that would mean you would have to wager a total of £1,000 (£100 x 10) before you could collect any winnings.
That might not be a problem if you are spending £100 a game, or per spin, but if you're playing for £1 at a time, then it would take 1,000 games to fulfill the wagering terms. At least you've had a bit of fun though right? Which brings me on to my next point...
Most of us enjoy the bonuses that are offered to us, whether they be welcome bonuses, reload bonuses, cashback bonuses or free bonuses. Just because they have wagering requirement terms attached to them it doesn't mean they are worthless. The bonuses allow us to play our favourite games for longer, and in many cases for free without even having to make a deposit. You just have to remember, that if you're playing with a bonus, then anything you win off it might not be withdrawable.
"..if they don't stipulate that you have to play through the bonus a certain number of times, then you probably only have to wager it once over before being able to withdraw the winnings.."
Don't let this put you off claiming the bonus though - just check the terms of the bonus and find out what the wagering requirements are - if they don't stipulate that you have to play through the bonus a certain number of times, then you probably only have to wager it once over before being able to withdraw the winnings. Those types of bonuses are known as bonuses with no wagering requirements.
If the terms state you have to wager the bonus anything up to 5x over then that's still a pretty decent offer and if you land a big win then it's likely you'll still have some money left to withdraw even after fulfilling the wagering requirement.
On the other hand, be aware of wagering requirements over 5x as you might not have anything left once you've fulfilled the wagering terms. This entirely depends on your win though - even a bonus with a 20x wagering requirement could still leave you with something to withdraw if the amount you won is sizeable.
For example, say you got a £10 bonus and won £300 from it. You'd have to wager £200 to fulfill the wagering requirement which would still leave you with £100 to withdraw.
Another thing to look out for is what the wagering requirement is based on. Most wagering requirements are based on the bonus amount only, as in the examples above, but sometimes they are based on the total of the bonus plus any deposit you had to make to get the bonus.
"..Most wagering requirements are based on the bonus amount only...but sometimes they are based on the total of the bonus plus any deposit.."
For example, if you had to deposit £10 to get a £20 bonus, then some terms might state that you have to wager the bonus amount plus the deposit 5 times over, which would equal £150 (£10 deposit + £20 bonus = £30 x 5) as opposed to £100 (£20 bonus x 5).
Another important factor to consider when fulfilling the wagering terms, is how much the games you are playing contribute to the wagering requirement. Some games might contribute 100% towards to the wagering requirement, whereas other games might only contribute 10%.
"..Another important factor to consider when fulfilling the wagering terms, is how much the games you are playing contribute to the wagering requirement..."
Bingo games usually count 100%, meaning that every £1 wagered on bingo counts as £1 towards the wagering requirement. Slots also usually count 100%, so if you like playing slots then there's no worries there.
However, games such as Video Poker, Roulette or Blackjack usually only count around 10 - 20% (and sometimes nothing at all), meaning that for every £1 staked on those games only 10 or 20p will contribute towards fulfilling the wagering requirement.
The reason for these different contributions has to do with the odds or overall payout of the game or bet.
For example, in Roulette you could place even bets (red/black or even/odd) all day long and theoretically you'd come out about even. That would be classed as bonus abuse, because you're playing low risk games in order to fulfill the wagering terms of the bonus and ultimately withdraw it, so the gaming sites put a stop to that by altering the wagering contribution.
If you're struggling to find the terms of a bonus, understand them, or simply can't be bothered with the hassle of it all, then your best bet is to sign up to a bingo site with no wagering requirements.
Bingo bonuses change quite often and so therfore do your options. Bookmark our page featuring the best bingo sites with no wagering requirements so you always have an up to date list to refer to.
A good alternative to bingo sites with no wagering requirement are those with low wagering requirements.
Typically, these would be bonuses which carry a 2x wagering requirement which isn't too bad at all. You would only have to wagering the bonus twice over before being able to withdraw any winnings. Again, bookmark our page featuring bingo sites with low wagering requirements so you have an up-to-date list of bingo sites to choode from.