Given the fact that there’s competition among online gambling establishments it makes sense to offer visitors bonuses for signing up with them. However, in doing so many casinos opened the door for tricksters to try and take advantage of their generosity by trying to create multiple accounts in order to quickly cash out their bonuses. Well, if one were to do that it would be possible to reap large sums of money from hundreds if not thousands of accounts, correct? Realizing that this was a recipe for disaster, online casinos decided to implement some type of system which could help them avoid such losses from fraudulent account generation, it’s called “wagering”.
In short, wagering is a system which tabulates the total amount of money that a player / account holder has placed in bets. For instance, let’s say that you deposit £100, if the system dictates that you must reach a play through value equal to 15 x, then you must play enough games to allow for at least £1500 in wagers to have been bet. In other words, you would be required to wager over 15 times the amount of your initial deposit, which means that there will be multiple bets placed thereby increasing the odds for the house to offset the cost of the bonus.
However, the rules might be even more convoluted. For instance, you might find that certain games garner a higher percentage of the wagering value than others. Typically, games like slots, where the house has a distinctive advantage, tend to count for a higher percentage of the total value applied (perhaps even 100%). Of course the fact that it’s statistically likely that you’ll end up sinking that bonus in the slot machine tends to go over most people’s heads. Conversely, games where there is a higher statistical probability of you pulling out a win might only offer a fraction of the total wagering value required to get your bonus and cash out. For instance, if you’re going to be playing poker, you might expect anywhere between 25%-75% of the value added. In other words, if you win £100 playing poker right away and the wagering value is 75% you only put £75 toward freeing up your account so that you can cash out.
The point is, if you’re going to be signing up with an online casino it’s probably best to find out what their wagering requirements are up front. You can’t really blame the casino though; they’re just trying to prevent dishonest people from exploiting loopholes in their gambling system. Likewise, no one is forcing people to gamble, they’re doing it of their own accord, so the notion of fault on their part is perhaps greatly mitigated. Nevertheless, these kinds of sign up bonuses are extremely useful when it comes to testing out a new platform.