What does "no wagering" mean, and why is it advertised so much?
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Some casinos came under fire a few years ago for having confusing promotional terms. Now, players are demanding more transparent T&Cs and fairer practices. This has led to the invention of bonus deals without wagering requirements attached.
Today, we take a look at wagering requirements and gambling rules. We also discuss how these rules have shaken up the gambling industry in recent years.
Wagering requirements are a caveat in the terms and conditions of almost every bonus deal on offer at an online casino. They affect how a player can use their bonus and the likelihood of the player being able to cash out real winnings using bonus funds.
Wagering requirements refer to the amount of times a player must play through their bonus cash before they can withdraw any real-money winnings.
The wagering requirement for a casino bonus is 50x the amount of the bonus. This means that the player must turn over 50 times the money they received from the casino to be allowed to take cash out any real money. The waggering requirements are not just for bonuses, but also for the games that players enjoy. Some games have a low game weighting and this can make it difficult to calculate the wagerting requirement. Some versions of blackjack count for as little as 10% towards the requirement and some games for 0%.
No wagering is a way for casinos to prevent players from taking too much money from bonuses and not getting it back. Many casinos have been hit with complaints from players who were not informed about the waggering requirements before they were offered the bonuses. NoWagered.com discovered that most of the complaints were due to the fact that the requirements were never communicated clearly to players.
No wagering casinos offer bonus deals without waggering requirements attached. UK Gambling Commission and ASA cracked down on some casinos. Some casinos saw the potential of no wagerering bonuses as a way to gain a better reputation and level of trust with players. No wageering casino offers are a powerful marketing tool.
Both wagering and no waggering casinos offer different bonuses. Traditional casinos can offer match deposit bonuses where you can pick up hundreds of pounds in bonus funds. No wags casinos are not free of other terms and conditions. It's still advisable for players to read through all of the terms on any offer before they take it on.
No wagering bonuses are good marketing tools for casino brands. They are also fairer to players all-round. After all, a bird in the hand is worth two in a bush.
