Wagering Requirements and Maximum Value of Wager Monday, Apr 30 2012
Casino Bonuses 1:53 pm
Online casinos provide bonuses in order to attract new customers and retain existing players. Online casino players need to understand upfront that these bonuses that are offered are not funds that can be automatically withdrawn and taken home. These bonuses are strictly meant for wagering at online casinos and the players can only make withdrawals and come away with what they can win from the wagering of these online casino bonuses.
In order to enjoy these privileges offered by online casinos, players must comply with certain wagering requirements. One of the major requirements imposed on players involves the number of times that the bonus and the deposit amount are wagered before one is allowed to make their first withdrawal. You have to go through a number of conditions that are linked to the wagering requirements as described in the fine print of these bonuses that are offered by online casinos in order to understand how you can gain the benefits of these online casino bonuses.
Maximum Value of the Wager
One of the standard conditions on bonuses imposed by online casinos is the maximum value that can be wagered by players while the wagering requirements on specific bonuses are in force. For example, an online casino may set a condition stipulating a maximum wager amounting to $6 per slot machine while a player complies with the wagering requirements. This means that any winnings that are obtained by the player with wagers amounting to $6 or more per spin are automatically voided.
There are two implications of this condition when a player wagers $10 on a spin that is made on a slot machine covered by the online casino bonus. Firstly, the wagering amount will not have any effect on the wagering requirements. Secondly, the wagering requirements will remain where they stand prior to the instance when the $10 wager was made. Thus, if a player obtains a $20 winning from such wager that doesn’t meet the condition, then the winning is automatically voided and it is not credited to the balance of the player.
This condition cannot really be considered a perverse or unfair requirement that tends to unduly harass players. It is consistent with the main objective of the wagering requirements imposed on online casino bonuses. Let us try to analyze the implication of this condition by considering an example where an online casino offers a 100 percent deposit bonus and where a player makes a deposit of $100. Such deposit is matched with a $100 bonus by the online casino. If there is a stipulation in the wagering requirement that a player needs to wager the deposit and bonus amounts for at least 15 times, then the aggregate amount that has to be wagered would be equivalent to $3,000.
Thus, if the wagering requirement doesn’t provide conditions that would “limit” the amount that can be wagered, then the player can place a bet amounting to $200. The player would be able to meet the wagering requirements after 15 spins, assuming that they consistently bet $200 in each of the spins made on the slot machine. With the maximum bet limit pegged at $6 for ever wager, a player needs to complete at minimum of 500 spins in order to comply with the wagering requirements.
Average Return to the Player
One of the major issues that needs to be addressed relates to the difference or implication when a player completes the wagering requirement within a specific number of spins on the slot machine covered by the online casino bonus.
In order to appreciate the significance of the number of spins on the wagering requirements, it is important for us to understand the principle behind the average return to the slot player. The average return to players for online slot games is about 95 percent. This means that for every $100 that is wagered, a player is expected to recoup $95 of their wager and lose $5 from playing at the online casino. This is clearly explained in the payout ratio reports that are declared by the online casino.
Online casinos typically provide reports on the big wins that have been made from very small wagers and the amounts can run into several thousands of dollars. A few players will be lucky enough to stumble on several wins while playing online slot games in short wagering spans, but should expect to lose 5 percent of the aggregate amount that has been wagered in the long run.
The condition that sets the upper limit for each of the wagers made on the slot machine during the wagering requirement removes the option for players to comply with such requirement over a shorter period of time. This means that such compliance can only be made within a long period of wagering. The implication of this is that it would reduce the number of players who will come away with substantial winnings while complying with the wagering requirements. M.A.H.