If you are reading this, you are probably among those who are confused about how to cash out the bonus offers from the online casinos in Singapore. The wagering requirement is something new and seems complicating.
But fret not, this is very common among new players who just started online gambling. After all, the concept of casino bonuses does not exist in a physical casino. It is something exclusive to online casinos only.
What Is Casino Bonus?
Online casino is not new, but it is always evolving to remain competitive. Hence, casino bonuses are given as incentives to attract new players and retain old players as well.
Online casino bonuses are an integral part of any online casino now. So, there are various types of bonuses offered. From welcome bonus to attract new players, to deposit bonus on your initial deposit. And not forgetting no deposit bonus which basically is free cash lying on the table.
But when it comes to cashing out the bonuses, people often get confused. Since they need to fulfill the wagering requirement first. So, we made a beginner’s guide to wagering requirements. Which will help you to cash out your bonus winnings.
What Is A Wagering Requirement?
Let’s be realistic, free spins, free bets, free money…they do not come without conditions. Yes, they are given away for free. But in order to prevent abuse, players need to meet certain conditions before they are eligible to cash out their bonuses.
So, those conditions are known as wagering requirements. Basically, you are required to wager an amount of money first. Then only you are eligible to cash out any winnings from using those bonuses.
That is how the online casino operators ensure the bonuses are given to genuine gamblers, not scammers or hackers looking for free money. Without the requirement in place, the casino will go bankrupt. Because people keep creating new dummy accounts and claim all the cash bonuses without playing.
How Does Wagering Requirement Work?
Now that you understand that wagering requirements are just a set of conditions, you need to know how does it work. And this is where it gets a little complex and confusing. Especially for those who have been regularly playing in a physical casino.
Firstly, different bonuses work differently. Secondly, each casino has different wagering requirements. Lastly, different games have different wagering requirements too.
When you put all 3 together, it is confusing. But here are the basics, explained via examples;
For instance, you are entitled to a no-deposit bonus of SGD500, and the wagering requirement is x10 multiplier. That means, you need to wager a total amount of SGD500 x10 = SGD5,000 before you can cash out that SGD500 bonus.
That method of wagering requirement is often applied to table games.
For slot games with free spin bonuses or sports betting with free bets, that method does not work. Because the gameplay or betting mechanics are different. So, the wagering requirement for those is deposit amounts.
It is very straightforward as well. The wagering requirement is simply based on the amount of money you deposited. For instance, in order to claim your free spins, you need to deposit a certain amount of money first.
Some even work based on tiers. The more you deposit, the more free spins you will get to play with. This is to offer better rewards to loyal players.
Aiming For The Casino Bonuses
There are some additional terms that you need to take note of. Especially if you are aiming for the casino bonuses.
Some popular casino games like video poker, blackjack, baccarat and roulette may not count towards the requirements. So, people do make that mistake. Playing for weeks without fulfilling the wagering requirements. So, they are unable to claim their bonus money.
Most of the bonuses have expiry dates tied to them. Hence, you need to ensure the games you play, do contribute to the wagering requirement. Then, take note of the expiry dates on the bonuses you are aiming for.
Your efforts will be wasted if the bonus expires first. Even if you have fulfilled half of the wagering requirement. So before committing to get a particular bonus, pay close attention to its expiry date. Then, do a simple calculation of whether you can achieve the requirements in time or not.
How To Spot A Good Wagering Requirement?
From our guide above, you would have probably realized it by now. The lower the wagering requirements, the better it is for you. But, just because it is low, does not mean it is good.
The casinos are very creative as well. For those who offer low wagering requirements, generally the payouts are lower too. Or maybe the bonus expires really quick. Or maybe only games which high house edge will contribute to the wagering requirements.
Therefore, what makes a good wagering requirement? You need to find a balance that suits you based on;
- The wagering requirement multiplier
- The bonus expiry date to ensure you can accomplish the requirement in time
- Whether the games that you play do contribute to the requirements
- Whether the games you play contribute significantly to the requirements
That is why different gamblers have different favourites when it comes to online casinos. Some players may struggle to fulfil the requirements while some may breeze through easily.
Details of the wagering requirements and bonuses are usually in fine print. But you would definitely want to be familiar with it when choosing the best online casino Singapore to play in. If needed, contact the casino’s customer support to clarify all those details.
That is also a good way to evaluate the quality of the customer support. After all, a good online casino will invest heavily into good customer support.
Conclusion
All in all, wagering requirements can be confusing. It is designed to prevent abuse after all. So, some degree of complication is expected. But it should not deter genuine players from enjoying casino bonuses offered.
We hope that with this guide, it will help shed some light. And you will be able to select the trusted online casino that suits you.
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