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Let's Talk About Bonus Wagering Requirements

Discussion in 'Online Slot Bonuses' started by SherKev, Feb 22, 2016.

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  1. SherKev

    SherKev Moderator Staff Member

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    I will focus on wagering requirements of bonus money given by individual casinos. Feel free to add to this or ask questions!

    For example purposes, I will use the wagering requirements of Grand Fortune Casino (link) ...This is general information and is not specific to EVERY casino. You have to read the terms and conditions on each casino's website to get a full understanding of their terms.

    promotions-header.jpg

    This casino offers a FREE $35 welcome bonus. This means you do not have to deposit any of your money to get the $35 added to your bank to play with. They state that the bonus ($35) has to be wagered 50 times before a withdrawal will be authorized. This means you have to take that $35 and bet it 50 times the amount of $35 (which is $1,750).

    Let's say you are betting $2.50 each spin, each time and no other denominations. This means you would have to hit that spin button 700 times before you have reached your wagering requirement of $1,750. Whatever is left after doing this will be the amount that you will be able to cash out. They also have a withdrawal limit of $100 on this free $35. So let's say you have met your requirement and you are left with $300 in your bank, only $100 of that can be withdrawn for cash. The rest you would have to play out.


    Deposit Bonuses

    This casino offers 400% on any deposit that you make up to $4,000. This means if you deposit $100, not only will you have your $1oo to play with, but they will add 400% of that amount to your balance to play with. ( $100 of your money + $400 bonus money = $500 in your bank to play with)

    They state that the deposit and bonus amount must be wagered 35 times before a withdrawal will be authorized. Notice the difference here. This means you have to wager 35 times both your deposit and bonus amount to meet the wagering requirement. ($500 x 35 = $17,500). Yes, you would have to wager $17,500 before a withdrawal would be authorized. They also state that only wagering on Slots, Keno and Scratch Cards will contribute towards meeting your requirements and the max that you can cash out is YOUR DEPOSIT amount times 20, up to $5,000. So that means that in this example, you have deposited $100 so your max cash out on this one would be $2,000. ($100 x 20 = $2,000).


    (I know that sounds ridiculous, but hey.. they are in the business of making money and the free welcome bonus allows you to get use to and experiment with different machines to see which ones are worthy of your time. No business can literally give away free money!!)

    Important things to note: On these bonuses, a lot of times you are only able to bet a certain amount per spin depending on their restrictions. Using the example above where I talked about $2.50 per spin, Grand Fortune Casino has a limit of $5/spin. If you go over that amount per spin, that spin will not be counted towards your wagering requirement.

    Also note: If you deposit money and do not take advantage of any of their bonuses, your money is free and clear with no wagering/playthrough requirements and no cash out limit. (this is for Grand Fortune Casino in this example. Other sites may be different)


    All of the information in this post has been confirmed with Grand Fortune's live chat support. I hope this helps!! Post below if there are any other areas that need to be explained in detail!!
     
    Last edited by a moderator: Feb 22, 2016
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  2. RyanWeb

    RyanWeb Administrator Staff Member

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    Very well said and a great example of how welcome bonuses work! For this reason, I generally don't use bonuses unless they offer a lower (20x or less) play-through requirement. Even then it can be challenging to make it through, but bonuses are more about play time and hoping for some really good luck!

    In the example above, $1,750 may seem like a lot to play through but remember, you win some hands/spins you lose some hands/spins.. For example if you wager $5 ten different times, and you win half of your hands/spins and lost the other half, you will have broke even and have the same amount of money in your balance, but you have also just wagered a total of $50 towards your play-though requirement (for whatever reason this part has confused people in the past).

    As for no deposit bonuses, you really have nothing to lose there as your playing only with house money. One note, that nearly all casinos require you to deposit a minimum of $25 before you are able to cashout your no deposit bonus. This usually comes with no further restrictions, they just want to make sure you are a legit player who actually intended to play for real money, not just visiting solely for the freebies.

    Always make sure you read the terms of a bonus before accepting, so there are no surprises later down the line.

    Great explanation SherKev!
     
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  3. Vinaya

    Vinaya Basic Member

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    @SherKev I read your explanation line by line. Before reading this, I did not know about the basic requirements for using bonus. Even though you are talking about a particular casino, Grand Fortune Casino in this case, I know this also applies to other casino where bonus is offered.

    There is nothing such as free money.
     
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  4. petesede

    petesede Site Manager

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    You can bet that they have done the math to determine the play-throughs and the odds are very small that you make it. Most people probably sign up without understanding the rules. I would imagine they get a ton of support tickets from people not being able to withdrawel.

    In any event, it is nice way to enjoy their site and learn the games without using your own money.
     
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  5. Hedonologist

    Hedonologist Basic Member

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    It simply isn't worth it, the small house edge will eat into your bonus after x spins. I tried this once but will never fall for that trap again.
     
  6. James Gil

    James Gil Member

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    Clear and profound explanation right there mate! You hit the definition of wagering requirements on point. It's crucial for players, new players specifically, to understand a certain casinos terms with regards to their wagering requirements. If gamblers do not know this well, they sure would end up being confused and disappointed about withdrawing their winnings from welcome and deposit bonuses.
     
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  7. SherKev

    SherKev Moderator Staff Member

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    Thank you! I'm so glad it was clear and concise. I wish I had something like this to read when I first started gambling online. It would of saved me a lot of confusion and frustration.
     
  8. Kgord

    Kgord Basic Member

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    Thanks for that concise report. No way, am I spending that kind of money to get a welcome bonus! I mean why can't online casinos offer the same deal as brick and mortar casinos, where you can just get a sign up bonus and play? It seems that with most of them there is some kind of "catch" to getting to use your sign up bonus.
     
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  9. SherKev

    SherKev Moderator Staff Member

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    Something else that may help you when deciding on which casino to use is to look at their payout percentages. I know these bonus wagering requirements seem out of this world on some sites but on others, its not impossible to actually cash out on the free bonus money. It just depends on how good their return is on each $1 that you spend. I think the biggest mistake that people (me included) make is not reading the terms and conditions before accepting a bonus.
     
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  10. Suziq

    Suziq Member

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    Great thread! Thanks for enlightening me! I guess I have been a bit of a rube in the past. I thought that bonus was equal to more, or extra! Now that I see the online gambling math I can see that your right that bonus doesn't always mean better!
     
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  11. petesede

    petesede Site Manager

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    It is still free money. Imagine if someone gave you $1000 and took you to the mall and told you that you could only spend it in 3 of the stores, but they were stores you liked.

    Casinos are smart and do the math on everything. There is no doubt that the play-through requirements, game limitations, and max cash-out amount are all there to ensure that if 100 people take the bonus, it is a net gain for the casino based on some of those 100 making deposits later. But that does not mean that a few of those 100 people do not win real money they can cashout with just from the free money.
     
  12. acheno84

    acheno84 Basic Member

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    Thank you, thank you! This post definitely helped break down the bonus wagering system for me. I sort of understood how it all worked out before reading this, but your post definitely cleared it up and made it super easy to understand. It seems that you'll end up losing that free money and that it may be a technique to draw you in, but hey, free money is free money. You could hit it big, cash out at the limit, and have more than you originally started with. Great information on this! Thanks for sharing!
     
  13. Kgord

    Kgord Basic Member

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    Yes, Of course there is always a Catch 22. I don;t necessarily see it as free money, but it is a help and something that people can use when they are looking to play It is jut one of the ways and the helps to game and get people excited. I think some people may not understand these bonuses so it is helpful to have the info, in a useable format.
     
  14. Vinaya

    Vinaya Basic Member

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    Since the wagering requirements are very rigid, I am never attracted towards any casino just because it is offering free money. Usually, I play with my own money. Sometimes the casino gives bonuses when I add funds, I play with the bonus. However, the bonus is not an attraction for me.
     
  15. Kgord

    Kgord Basic Member

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    Yes, I think calling it free money is kind of a misnomer. Alot could happen in those 35 spins, and by the time you are done, you may not have any of the bonus money left. OF course, casinos want that to happen! I mean, nothing ventured nothing gained, but I am not in lose money mode!
     
  16. RyanWeb

    RyanWeb Administrator Staff Member

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    All that said, @SherKev has actually made it through a few free chips :)

    Not without effort, but the fact that she has done that more then once, I was actually amazed to hear!
     
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  17. SherKev

    SherKev Moderator Staff Member

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    Trust me, I was amazed too lol. I have learned a lot through those experiences (even the bad ones). You never know what will happen unless you try!
     
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  18. oportosanto

    oportosanto Moderator Staff Member

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    Thanks for that post @SherKev and in fact wagering is one of the most complex things in what concerns playing at the casino. So when we see that a bonus is X, we never really know if we can get it or not, but in reality we need to play through the bonus to see if we can get it or not. In a way it's fair, it's just the way the casino found to make us play there more.
     
  19. Mobcasinos

    Mobcasinos Active Member

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    I never knew that their is a post regarding wagering requirements. The information is very well said and 100% true. I will just show this to my friend who will ask me about wagering requirements on casinos. I'm not good at explaining and this one should do the job.
     
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  20. oportosanto

    oportosanto Moderator Staff Member

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    This is one of the most useful threads in the whole forum in my opinion, simply because if we read it we realize what wagering is and how we can get the most of our money, while having fun of course. :)
     
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