Online gaming in Sweden has increasingly become a popular pastime for many, especially after the pandemic. One of the main similarities between video games and online casinos that has become apparent is the rewards or bonuses players get in both.
What are Wagering Requirements?
Most Swedish online casinos offer their players a form of reward or bonus. The bonus can be in the form of money or payouts or free spins. If you get money as your bonus, you cannot withdraw the amount to spend on anything else. The bonus amount is kept in a “separate” account till you spend it on a casino game.
Either way, each bonus offers usually comes with terms and conditions, and for a casino bonus, these T&Cs are known as wagering requirements. The wagering requirements may apply to the sum of money you must wager in order to obtain a bonus, the restrictions on how you may use a bonus, or both. Basically, you must fulfill certain requirements set forth by the casino before claiming a casino bonus.
Why Wagering Requirements?
There are two main reasons why casinos use wagering requirements.
- To prevent bonus abuse. Casinos use bonuses to attract new customers. However, customers can easily use join casinos to just claim bonuses. To avoid that, they add wagering requirements to ensure the money is spent on the casino.
- To make a profit. Wagering requirements ensure that players spend the bonus on the casino. Without the requirements, online casinos would end up losing more money than they make.
How do Wagering Requirements Work?
Each casino and bonus wagering requirements work differently. For example, if you receive a cash bonus with a wagering requirement of 10X, the casino requires you to bet the bonus amount you receive at least 10 times before you cash out the bonus or the winning you get.
If you receive free spins or free bets, there could be a multiplier requirement attached to any winnings you get. In sportsbooks, the wagering requirement could be placed on the bets with certain odds.
You won’t be able to withdraw money or utilize the bonus if you don’t satisfy the specified wagering requirements. You will effectively have lost your bonus.
Understanding Wagering Requirements
You must first get familiar with the terminology used to define wagering requirements in order to fully comprehend how they operate. The terms below should be kept in mind.
- Game Exceptions. In some casinos, some games are exempt from a bonus and are highlighted in the wagering requirements.
- Maximum Withdraw. In some casinos, the amount of money you can withdraw is capped. Most times, the value of that amount is linked to an active bonus.
- Maximum Bet Limit. As you work on your wagering requirements, some casinos include a maximum bet limit, which means you can only bet up to a certain level. With this limit, it might take you longer to complete said requirements.
- Time Limits. A time limit is the amount of time you have to complete the wagering requirements. The incentive expires after the allotted time period and is no longer available for use or access.
- Stacked Bonus. If multiple bonuses are in play and all are active, the casino may combine the wagering requirements of all the bonuses before you can cash out.
- Held Funds. His refers to the money that the bonus casino keeps on your behalf until you complete the wagering requirements.
Calculating Wagering Requirements
Most casinos are transparent enough to show you how to calculate your wagering requirements. But for those that don’t, it is not a complicated task. Calculating how much your payout will be depends on whether the deposit amount is included in the wagering requirements.
For example, if you deposit $50 a casino can offer you a 100% match bonus with wagering requirements of 10X. If the deposit amount is included in the wagering requirements, your calculation will look like this:
$50 (Deposit) + $50 (Bonus amount)* 10 (wagering requirements)=$1,000 (total payout)
If your deposit is not included. Your calculation will look like this:
$50 (Bonus amount)* 10 (wagering requirements)=$500 (total payout)
Use a wagering requirement calculator, which is simple to locate online, if you still don’t feel like performing the math or if you want to know exactly what to expect.
Factors That Influence Wagering Requirements
There are several factors that affect how to complete your wagering requirements.
Choosing the Right Casino
Choosing the best casino is the first step in determining the proper wagering requirements. The Swedish Gambling Authority, which oversees online gambling in the nation, makes sure that it is transparent, equitable, and balanced.
Having said that, not all casinos are bonus friendly. In fact, certain casinos often have greater wagering requirements and maximum withdrawal amounts than others. Read the fine print to understand the specifics of the bonus deal before selecting a casino, and check out the casino’s reviews to determine whether it is a fair establishment.
Choose the Right Games
Some casinos have restrictions on the kinds of games you may use your bonus on, as was already discussed. Even if all games are available, it’s still a good idea to choose those that will help you complete your wagering requirements the quickest and provide you with the biggest payouts because each game might offer a different percentage of your payment.
For instance, the majority of table games do not give 100%, and you could only receive 50%. Slots on the other hand more often than not offer the full 100%.
In Summary
No matter how experienced or inexperienced you are as a gambler, bonus wagering requirements will definitely come up. Make sure you are aware of the terms before choosing a bonus to prevent disappointment. If you believe it will be too difficult to satisfy the wagering conditions, you can also decide to refuse the bonus.
