Promotional offers are means by which many online casinos reward the loyalty of existing players on their sites. Additionally, promotional offers are used to entice new players to join an online casino. Ethereum gambling sites and other crypto casinos now offer cool promotional offers to new players to attract new users.
Generally speaking, promotional offers are excellent because they offer players a chance to win real money with bonus money. However, some offers are unsuitable for players due to the terms and conditions attached to such offers.
Several factors may make a promotional offer inappropriate: these factors may include time limits, bonus money attached to the offer, wagering requirements, to name a few.
In this article, we will focus on wagering requirements attached to welcome bonus offers related to crypto. Additionally, we will review what wagering requirements are. Players should avoid promotional offers with wagering requirements that exceed 35x and wagering requirements that are inappropriate. However, let us briefly explain what a wagering requirement means.
What is a wagering requirement?
Wagering requirements refer to the number of times casino players must wager bonus money attached to a promotional offer before claiming wins from such an offer. Many of the promotional offers available in an online casino have wagering requirements attached to them.
This means that players will receive free spins, bonus offers, table games, sports games, bingo, and live dealer games that meet these requirements. In most cases, sports betting, bingo games, table games, and live dealer games come with a lower wagering requirement than some Ethereum online slots games.
Why do wagering requirements exist?
Wagering requirements are used to protect online casino sites from going bankrupt financially. By demanding that casino players wager a bonus offer repeatedly, an online casino reduces the number of players who will end up winning real money from the bonus offer.
Let us illustrate this using an example, imagine if a crypto casino offered a £100 bonus to all new customers without attaching a wagering requirement? All new players on their site will be free to register and withdraw their bonus money without playing any Ethereum casino. That action would definitely bankrupt the casino.
However, with a wagering requirement, players would be forced to stake their bonus money and suffer losses during gameplay. That action will reduce the number of payouts the casino would make to winning players. However, for any promotional offer to be valid, the wagering requirement must be reasonable and fair.
How to calculate wagering requirements
It is relatively easy to calculate wagering requirements. Simply confirm the bonus money you will receive and the wagering requirement attached to the bonus offer. The formula for calculating the total bet is stated below.
(Wagering Requirement) X (Bonus Amount) = Total Bet
To illustrate, let us assume you receive a $50 bonus and the wagering requirement for the offer is 35X.
The calculation for this offer would look like this: ($50) X (35) = $1,750.
You may encounter a sticky bonus depending on the casino. In this instance, the calculation for the total bet changes. The calculation for this type of bonus is stated below.
(Initial Deposit) + (Bonus Amount) X (Wagering Requirement) = Total bet
To illustrate, let us assume you receive a $50 bonus after depositing $50 and the wagering requirement for the offer is 35X. The total bet will be calculated as
($50) + ($50) X (35) = $3,500.
This calculation also applies to free spins and no deposit bonuses.
Types of wagering requirements
There are different types of wagering requirements. However, there are three common types of these requirements attached to bonus offers in an online crypto casino. They are:
Match bonuses wagering requirements
The wagering requirements around match bonuses require players to wager the bonus money they receive after making deposits in a casino. To illustrate, If a player deposits $100, the casino will match that initial deposit with a $100 match-up bonus. Suppose the wagering requirement for that bonus offer is 20x, then players would need to wager that bonus offer 20 times, meaning a total wager of $2000.
Free spins wagering requirements
The wagering requirements around free spins require that players wager the free spins they receive several times before claiming any winnings. This wagering requirement is similar to the match bonus wagering requirement.
No deposit bonuses wagering requirements.
This type of bonus offer is handed out to new players who join an online casino. Players are not required to make deposits before receiving a no deposit bonus. However, the value of this bonus offer is usually low. As a result, wagering requirements attached to no deposit bonuses are low. No deposit bonuses are cool because it allows players to play for real money without making deposits into the casino.
What is a suitable wagering requirement?
For a promotional offer to be considered suitable, the wagering requirements attached to such an offer must be reasonable and fair. Generally, the wagering requirement attached to a bonus offer can be considered appropriate when it does not exceed 35x. Players should avoid promotional offers with wagering requirements that exceed 35xs. Such a promotional offer is not appropriate because the requirements are too high. When next you want to opt for a promotional offer, check the terms and conditions associated with such offers to determine if it is appropriate for you.
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