Wagering requirements are a common term in the T&Cs section of an online betting promotion. It shows the number of times you must wager using a bonus before you are able to take out any related profits.
Playthrough requirements and rollover requirements are common terms used to describe wagering conditions. However, “playthrough” refers to online casinos and poker sites, whereas “wagering” refers to online sports betting. In Canada, rollover is a somewhat uncommon term that can be used interchangeably.
How Wagering Requirements Work
The amount you must wager in order to take out all of the funds in your account is known as a wagering requirement. In case your account has $100, but $50 of that is bonus money, you will have to fulfil the wagering requirement in order to withdraw your winnings.
The wagering requirements for bonuses offered by online sportsbooks can vary from 1x to 5x. You have to bet the bonus money (and sometimes the entire deposit amount) that many times in order to meet the wagering requirement.
Assume you signed up for an online casino or sportsbook that offered a welcome bonus of a risk-free wager. When your $100 wager failed, the casino credited your account with $100 in bonus betting credits, subject to a one-time wagering requirement. In order to convert those credits into actual money for cashing out, they must then be wagered once, or 1x.
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Real Examples of Wagering Requirements
New players can earn a 100% deposit match up to $500 with 1x wagering restrictions when they use the online casino promo code. This implies that before you can take out all of your money, you must wager the deposit plus bonus amount multiplied by 1.
That is the simplest illustration. However, the conditions of wagering may also vary based on how you get your bonus money. Bonuses can be paid out in full or as a code that entitles you to a 20% deposit match up to $1,000 that isn’t applied right away. Rather, for every $25 wagered, you get $1 in extra money. It implies that there is a 5x wagering requirement on the deal itself. There would be a 1x wagering requirement if the payout was $1 for every $5 wagered.
The only kinds of offers at online sportsbooks typically have a wagering requirement greater than 1x, and these are deposit-match bonuses and no-deposit bonuses. The bonus funds you receive from the sports betting app when you wager or as part of its risk-free bet promotion simply need to be wagered once more in order to become withdrawable funds.
You should be aware of a few more terms and conditions, though, as they pertain to wagering requirements.
Other Wagering Requirement T&Cs
Wagering requirements are frequently linked to the following extra clauses:
Minimum Odds: Typically, eligible bets have odds of -300 to -250 or greater. A line with -350 odds would not count toward the wagering requirements, while -200 odds would.
Only Winnings Paid: You get paid for both your wager and earnings when you place a real money wager and gain. However, if you place a wager using bonus credits, the wager itself is lost and you only get paid your profits. Thus, the total payment for a $10 bonus credit wager on a +100 line would be $10.
Time Limit: The majority of initial deals expire after seven to ninety days. The sportsbook will cancel any leftover bonus credits if the wagering criteria aren’t fulfilled within that window of time.
For every deal, there are restrictions and limitations specific to each online casino and sportsbook. Before agreeing to any deals, make sure you have read them.
Free Bet Vs. Betting Credits
Bonuses from online casinos and sportsbooks come in two flavours: betting credits and free bets. With the exception of being subject to the additional wagering restrictions mentioned above, betting credits are regarded exactly like cash. You could place 100 $1 bets, for instance, if you had $100 in betting credits.
Free bets, however, have set stake amounts. The amount of the wager is the same if you are given a $25 free bet. It is not possible to get a $25 bonus bet and wager $5, $10, and two more times. The entire amount needs to be used at once.
However, in online sports betting applications, free bets and betting credits are typically subject to a one-time wagering requirement.