Why choose the lowest wagering requirements?
Initially, casinos used wagering requirements as a tool to prevent bonus abuse by players. But over time, casinos also realized the potential of wagering requirements in other areas. To be precise, their utility in reducing the amount of money they have to pay out to players who make full, legal use of a bonus.
From a business perspective, a casino wants to minimize the money it pays out to customers. When that cash is won using bonus funds/spins, this need becomes even more urgent. And high wagering requirements are a massive help in this regard.
Take a look at our first example for calculating wagering requirements. With a 4x wagering requirement, you only had to place bets with $200 until you reach a cumulative value of $800. That is realistically achievable even with a few modest wins during the wagering process.
There is a high chance that you will have some cash leftover in your bonus balance when you reach the $800 wagering target. Your odds of getting a cash payout from your bonus are much higher with a low wagering requirement.
And 4x is incredibly low in the world of casino wagering requirements. You are more likely to see numbers like 30x, 40x and 60x at many online casinos. Just take a look at the following calculations to see the difference a change in the wagering multiplier can have:
- 4x wagering for $50 = 4 x $ 50 = $200 target
- 20x wagering for $50 = 20 x $50 = $1000 target
- 30x wagering for $50 = 30 x $50 = $1500 target
- 60x wagering for $50 = 60 x $50 = $3000 target
Keep in mind that in each of these situations, the amount of cash you have at your disposal to place the bets is the same – $50. With a 60x wagering, you have a near-zero probability of successfully reaching the wagering target. Instead, you will exhaust the $50 long before you reach anywhere close to that number.
The result is good news for the casino – it does not have to worry about paying you real cash. This is why bonus wagering requirements have steadily crept up over the years. As the business got more competitive, casinos started trying to reduce expenses.
While a high wagering requirement is good news for a casino, it is NOT good for players. Especially in the case of bonuses that require a cash deposit, a high wagering requirement can cripple your ability to withdraw any money at all.
High wagering bonuses are more acceptable in no deposit bonuses, as the casino carries a lot more risk here. But with a deposit bonus, high wagering requirements are considered unfair, as the casino is dealing with a paying customer.
But regardless of the type of bonus you claim, it is recommended that you pick offers with the lowest wagering requirements available. It has the following decisive advantages:
- Lower wagering requirements improve your chances of getting a cashout
- With lower wagering, you waste less time trying to fulfill the wagering target
- Low wagering bonuses lead to fewer chances of disputes with casinos
- You get faster cashouts with low wagering