Wagering requirements are one of the primary bonus conditions or ‘rules’ there are. The reason they’re imposed is to reduce the likelihood of bonus abuse. By asking players to wager a certain sum of money before they can withdraw the bonus funds, wagering requirements are an effective way for the casino operator to reduce the cost of the bonus and the risk of losses.
Let’s try understand how wagering requirements work, and whether low or zero wagering requirements are worth your time.
How are Wagering Requirements Calculated?
Working with an example is the easiest way to comprehend how wagering requirements are calculated. Let’s consider an example of a match deposit bonus with a 30x wagering requirement and dissect it.
Say you make a minimum deposit of $50 and receive a 100% match bonus up to a maximum of $200. Wagering requirements are 30x the bonus + deposit.
In this scenario, let’s assume that you make a deposit of $100. So, you’ll receive a 100% match bonus which is also worth $100. Now, the sum of the bonus amount + the deposit amount = $200. The wagering requirements are 30x $200 = $6000. Therefore, to properly and safely withdraw your $100 bonus funds, you first need to wager $6000. Needless to say, that’s a lot of money you need to wager just to withdraw $100.
Some casinos will apply the wagering requirements only to the bonus amount and not the sum of the bonus + deposit amount. For instance, in the above example, if the wagering requirement of 30x was only applied on the bonus amount ($100), then the wagering requirement to complete would be $3000 instead of $6000.
From the example, it’s easy to work out that the lower the wagering requirements are, the easier it is to withdraw the bonus funds. Ergo, the lower the wagering requirements, the higher the profit value of the bonus.
For example, if the wagering requirement in the above casino was 5x the bonus amount instead of 30x the bonus + deposit, then you would only have to wager $500 to withdraw your $100 bonus funds.
Low or Zero Wagering Requirement Bonuses are Certainly Worth it!
So, that makes it abundantly clear that the lower the wagering requirements, the more you can benefit from the bonus.
Sometimes, online casinos even offer zero wagering bonuses. These are a rare find, but they’re highly valuable since you can withdraw the bonus without wagering any money at all! It’s almost like getting free money by claiming the bonus.
Luckily, you can find plenty of low or zero wagering casinos at NoDeposit365, your only task is to filter out your options – and let’s be honest, it’s far from a burdensome chore, is it?
How Can Casinos Afford to Giveaway Zero Wagering Bonuses?
As we stated earlier, a zero-wagering bonus is basically a giveaway. The casino is giving you money without strings attached. The question is – how can online casinos afford to give away free money this way? And why do they even offer such bonuses?
The answer to the latter is really quite obvious! When you give away free money, you’re going to attract a lot of people and this is exactly what online casinos want to achieve with their zero wagering bonuses. They want lots of players to sign up with the casino. Hence, offering such a bonus is an effective way to grow their user base.
But… hold on! Keep in mind that online casinos have a few tricks up their sleeves which allow them to offer such zero or low wagering bonuses whilst ensuring they don’t go out of business.
The Usual Characteristics of a Zero or Low Wagering Bonus
Just because there are no wagering requirements imposed on the bonus, it doesn’t mean that there are no restrictions whatsoever. A zero or low wagering bonus will still have other terms and conditions that the claimant needs to abide by, such as:
Lower Bonus Value
In the example above, you received bonus funds worth $100 for making a deposit of $100. But the wagering requirements were 30x. When the wagering requirements are zero or very low (2x or 5x), then the value of the bonus will also be quite modest. Therefore, instead of $100, you may only receive $10-$25 with a low or zero wagering requirement. So, even if the casino is giving away free money, they’re giving away only a small amount of free money.
Lower Max Cashout Limit
Another thing to keep in mind is, if the zero or low wagering bonus is worth a good amount of money, a casino will generally impose a max cashout limit on the bonus funds which is quite low. Meaning – even if you claim a zero-wagering bonus and receive hundreds of dollars, you may only be allowed to cashout a maximum of $10 – $50 due to the max cashout limit.
Even with its lower cashout limit or low bonus value, a zero or low wagering bonus is certainly worth it. A player can use the bonus to play and win even more wager free funds. Such a bonus can also be used by a new player to play games at the casino and get a firsthand experience of the casino before they invest their own money into it.