We all know that casinos are a great way to mint side cash enough to consider it an extra income. People surely have to start somewhere if online gambling is of interest to them. Especially true if you are starting as a complete beginner.
For a beginner, of all the information available for casinos, it is important to learn what wager and wagering requirements are. If you already feel overwhelmed, then continue reading. In this article, we will try to help you understand what a wager is and try to explain the terms related to wagering so that you could have a basic understanding and successfully venture into the world of gambling:
What is a Wager?
Whether online or offline casinos, a wager has the same meaning. In simple terms, a wager is a bet that you place while playing a casino game. It is the amount of money you invest when playing a particular casino game. This amount invested helps give you a rough calculation of the profits if you won.
What Does Wagering Requirements Mean?
The wagering requirement is the process by which you will have to spend a minimum specified amount of cash in the casino to avail of various deals and offers.
Once you become a regular at your casino, you get various bonuses. Some of these might be cashback, free spins, and free wagers. All these can sound amazing to a beginner, but there is a catch. You cannot acquire or use it to your benefit until you complete a minimum wagering requirement.
How Do Wagering Requirements Work?
The working of wagering largely depends on different bonus types. Cash bonuses are usually accompanied by certain multipliers, with which you have to wager to be able to withdraw your bonus.
For example, say you bet for a cash bonus with a multiplier of 20X wagering requirement. To obtain this bonus, you will have to wager your bonus by twenty times to withdraw it along with your profits.
Whereas for free spins, where cash investment is not required, the multiplier is applied on the amount you win. Hence, the higher the multiplier, the more the profit.
Of course, the example mentioned above varies with different casinos and with different games in the same casino. Sometimes, winning the bonus also depends on having to bet on a particular sport with particular odds.
Calculate Your Wagering Requirements:
The formula to calculate wagering requirements is relatively simple.
Total Betting Amount = (Bonus Amount) X (Wagering Requirement)
Suppose if you bet $10, and your bonus receivable is $20 with a wagering requirement of 10X, you will have to bet a total of $100 to get a bonus of $10.
Now in case, the casinos ask you to include the initial deposit into the total betting amount, then the formula would be:
Total Betting Amount = [(Initial Deposit) + (Bonus Amount)] X (Wagering Requirement)
Considering the above example, you will have to bet with $200 to get a bonus of $10.
Start With These Useful Tips:
As wagering has a lot of options, a beginner can be pretty overwhelmed. Here are some helpful tips that ensure you don’t make a mistake most beginners make when starting.
1. As we have already mentioned, different games have different requirements. Hence read before to pick the one that meets your needs.
2. Another important factor in choosing the right casino. You may not have much choice for land-based casinos, as it depends on your location. But if you plan to opt for an online casino, make sure that the casino supports various games with affordable wagering requirements.
3. Know when to quit. Even if you are winning continuously, there will come a time when you will lose all your profits in a single bet. Hence, even if you are on a continuous winning streak, quit when you have to.
Casinos With No-Wager:
As the name suggests, no-wager casinos are just the opposite to wager casinos. These no-wager casinos are becoming increasingly popular, especially in the online casino gambling segment. These have fewer requirements for winning the bonuses as compared to wager-based.
But because of this, the bonus amount obtained is also not as huge as that in wager-based. Even a small amount of free cash is considerably better than no free cash at all.
As you now know what wager and wagering requirements mean, pick the casino of your choice and start earning that side income. First, however, remember to stick to the rules mentioned above if you want a successful venture in the field of gambling.