When you claim a bonus at online casinos, you are often required to wager a certain amount before you can withdraw any winnings. Using this information, you can make informed decisions about whether a particular bonus is worth claiming. We explain how to calculate the wagering requirements and choose the right bonus offer.
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Calculating bonus money in online casinos can vary depending on the type of bonus and the terms and conditions of the casino. Here are some common methods:
Bonus money calculator allows you to ascertain the wagering requirements for your bonus and the total amount you require to wager to meet those requirements. However, those who are a novice to bonus offers may come across some terminologies which can be a bit confusing. So, let’s look at the different sections of the online bonus calculator and understand what they actually mean.
The deposit amount is the real money you’ll deposit in your casino account. This amount ranges from casinos’ minimum deposit to getting their bonus up to the set limit. For convenience, you can use the up/down tool.
You need to choose the denomination you will use to play from the dropdown menu. They range from British Pounds, US Dollars, CA Dollars, Euros, AUD$, Crypto (Bitcoin) amounts, etc.
These are sometimes referred to as “playthrough amount”. It is the multiplier amount your bonus funds require to be wagered before it is released as cash that can be withdrawn. Thus, you need to input the number of times to wager the bonus. For example, if the wagering requirements of a casino are 25x, then enter 25 into field.
This is the amount a game can contribute to your requirements. The value differs from 100% contribution to a mere 10%. In most cases, the slots games contribute 100%, while classic table games tend to contribute less. Thus, if a game’s contribution is 100%, you must key in 100 in field.
This is the percentage in which a casino will match your bonus money to be received with the amount deposited. In this field, you need to input the bonus percentage rate. Most casinos offer 50%, 100%, or 200% as bonus rates. For example, if a casino offers a 100% bonus of maybe 100 Canadian dollars/US dollars/AUD/Euro/Pounds as a welcome bonus, you need to enter 100 in this field.
This is the maximum bonus amount offered by an online casino. In this field, you must key in the maximum amount of money to be added to your casino account.
Depending on the conditions of the offer, you can either go for “Deposit + Bonus” or “Bonus Only”.
As said earlier, wagering requirements (playthrough) are the restrictions that online casinos put on their bonuses before the winnings can be redeemed into real money or can be withdrawn. The wagering requirement is normally expressed as a multiple of the bonus amount, like 20x, 30x, 40x, 50x, etc.
For example, if a player gets $500, which has a wagering requirement of 20x, then the wagering requirement will be $10,000.
Remember, every casino game contributes equally to meeting the wagering requirement. Usually, slots contribute 100%, while video poker and table games contribute 10% or less. Therefore, the player who plays only table games may require to wager more to meet the requirement than a player who plays slots only.
The types of casino bonuses which can be calculated include loyalty programs, no deposit bonuses, free spins, deposit bonuses, reload bonuses, and cashback.
Wagering requirements are an integral part of online casino bonuses, and it's difficult to avoid them altogether. Some ways to help reduce the impact of wagering requirements include reading carefully the terms and conditions related to bonuses, sticking to games with higher contribution rates, etc.
To calculate the cost of wagering requirements, you must know the deposit bonus amount, wagering requirement, game contribution percentage, and percentage deposit bonus. Once you have this data, you can utilise the formula: Bonus Amount x Wagering Requirement/ Game Contribution Percentage.
Converting bonus to cash can be implemented by playing eligible games, betting, checking progress, and withdrawing cash. Remember, converting a bonus into cash needs that you meet the wagering requirements associated with the bonus.
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