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Become an expert in casino wagering requirements
Wagering and playthrough requirements have been put in place by online casinos that offer players free money as an incentive to their players. This is when you redeem the sign up bonus, reload bonus or cash back bonus. These are structured requirements and are used mostly to make up for the risks that a casino takes when they offer bonuses to their players. Even though wagering and playthrough requirements are not attractive in casinos; there is a need for them. They are at times difficult to trace in online casinos. Each casino has various terms and conditions that are put up in a particular bonus. These terms and conditions will be available in the promotions page of the casino.
Wagering requirement mostly means that for you to be allowed to cash out a particular amount of money you have to playthrough a number of times with the bonus or the bonus plus deposit in a given online casino. The risk management team that represents the casino is responsible for assigning the number that represents the playthrough needed for a particular bonus. Most times playthrough requirements range between ×15 for less strict bonuses and 40× for strict bonuses. There are a number of examples given as calculations online, where the betting amount is placed 20× and the bonus being offered is 100% match bonus, to determine the bonus the playthrough will be calculated as 20x your deposit + your bonus. Thus the playthrough required will be $4000.
In most cases casinos will have different percentages on various specific games that will in turn account for the playthrough requirements. Blackjack and Roulette games at i=times do not have fixed wagering requirements or have none at all. In slot games the wagering requirement is placed at 100%. Casinos that are run by Microgaming software and make use of the Clear Play Bonus System have standards that apply to all casinos that are powered by their software. Let’s take for example a player who has a bonus of $100 and a playthrough requirement of 20×, the player then makes a bet of $20 on video poker, $20 on Roulette, $30 on slots and $20 on blackjack. The total wagering requirement contribution will be calculated as follows; +80% of $20 (Video Poker) + 10% of $20 (Blackjack) + 25% of $20 (Roulette)+ 100% of $30 (Slots). The 2000 wagering requirement is calculated as follows $30 + $16 + $2 + $5 = $53.