Wagering Requirements: Convert Bonus Money Into Real Money
Due to the increasing competition between casinos, they make efforts to keep and increase their number of customers. One of the main factors is the promotions and bonuses granted to bettors. Bonuses can be given for all types of gambling, including lotteries, sports betting, live casino games, and especially slots. The bonuses are varied and are given to players either on anniversaries, when registering an online account on the casino’s website, on the first deposit, on the second deposit, or on different occasions. Bonuses awarded to players can also be in the form of free spins on slots, bonus money, or credit, which can then be converted into real money. However, the bonuses come with certain wagering requirements.
What are Wagering Requirements?
Almost, if not all the bonuses granted to bettors involve certain wagering conditions. The wagering requirements may differ from one casino to another, depending on the casino policy. Still, mainly these conditions apply the same everywhere. Regardless of the bonus granted, to be converted into real money, the gambler must wager the bonus received a certain number of times. The most common wagering requirements involve 40 times the wager of the credit received as a bonus. These x40 conditions apply mainly to slots and winnings resulting from free spins. In the case of bonuses granted to lotteries or sports bets, the wagering conditions are lower, which can be x5 or x10, depending on the casino policy. Therefore, any bettor who receives and accepts a betting bonus must first consult the terms and conditions of that bonus.
How Does it Work?
As the betting and casino bonuses granted to bettors differ from one category of gambling to another, so do the wagering requirements. Thus, in the case of slots, if the bettor has received a $1000 bonus, and the wagering conditions are x40, to convert the bonus into real money, the player must wager the amount received as a bonus 40 times, which means $40,000. The good news in the case of slots is that the bet on which the bettor plays contributes 100% to the wager. Therefore, if the gambler plays on a $10 bet, each spin contributes $10 to the overall amount.
In the case of bonuses awarded to roulette or live table games, the bet chosen by the player does not always contribute 100% to the general wagering requirements. Depending on the conditions for granting the bonus, only a certain percentage of the bet contributes to the wager. It can be 10% or 20%, depending on the casino’s policy.
How to Best Convert a Bonus into Real Money?
Although casinos are generous when it comes to promotions and bonuses, the conditions for converting bonus money into real money are not always easy to achieve, but neither is it impossible. One of the best strategies to convert bonus money into real money at slots is to look for and play at slots that have low volatility. Even if each bettor has their favorite slots, they differ in Return to Player (RTP) and payment methods. So, there are slots that pay a lot but very rarely, as well as slots that pay a little but often and regularly.
Therefore, a high volatility slot can consume bonus money much faster, and even before the player meets the wagering conditions. However, a game with low volatility will keep the player’s balance longer, increasing the chances of winning as well as the playing time, during which time each bet contributes to the general wagering requirements. So, everything depends on strategy, but also luck; that’s why they are called games of chance.