How to wager free spins
Most free spins (promotional offers) offered by online casinos come with bonus conditions which are referred to as wagering requirements. These requirements, also known as “spin through”, “playthrough requirements”, “bonus rollover” or “turnover requirements”, refer to conditions which players have to meet before they can cash out winnings from the free spins gifted to them.
Factors to note before wagering free spins
1. Know if the wagering requirement is reasonable
The wagering requirements provided by casinos vary. Some are reasonable whereas some are simply ”Greek gifts”, intended to trick players into registering with the casinos. Some casinos come with requirements up to 20x, 30x, 40x whereas others offer even higher numbers. When you sign up on an online casino and you’re rewarded with free spins, it is important for you to check the wagering requirements attached to the offer. If the requirement is not attached, then you can check the Terms and Conditions of the online casino for more information on the playthrough requirements. Therefore, knowing the wagering requirement is the first step.
2. Wager the free spins in time
The free spin offers come with expiration dates. Some free spins must be wagered within 7 days, others have a longer expiration period up to even 30 days. This information is also attached to the offered bonus. You must use the free spins during the required time, or else you will end up forfeiting them.
3. Check the contribution percentages
Certain free spins are strictly offered for certain games. You need to wager your free spins on these games. Failure to do so will not count towards you meeting your wagering requirements.
How are the free spins wagered?
Let’s use an illustration for the sake of clarity; if you’re rewarded with 20 free spins with a requirement of 30x and you’re able to earn up to ₹2000 in winnings from the free spins, the online casino requires you to wager your winnings (₹2000) by the number of required times (20x) to make at least ₹40,000 (20x₹2000) before a withdrawal can be processed.
Furthermore, most free spin bonuses offered also come with maximum limits that can be withdrawn. For instance, in the scenario above, if the free spins bonus comes with a maximum win amount of ₹10,000, you will only be permitted to withdraw ₹10,000 and will forfeit the remaining ₹30,000. This is exactly how free spin wagers work.
Why do casinos have wagering requirement on free spins
Casino players tend to wonder why casinos add wagering requirements. While some wagering requirements are purely ludicrous, genuine wagering requirements are set for the sake of protection of the casino, the players as well as to maintain the integrity of the offered bonuses.
The common reason for bonus requirements is to prevent gamers from taking unfair advantages of bonuses offered. Without wagering requirements, fraudulent persons can simply register at online casinos, make use of the bonuses without even making any deposits and request for immediate withdrawals.
Indian online casinos therefore set wagering requirements as a means of self-protection against bankruptcy and to reduce being financially liable. For instance, while most customers exhaust their free spins and associated winnings with nothing for them to withdraw, if wagering requirements were left uncapped, then others could be racking up huge wins which would become financial burdens to the casino.
Also, Casinos rely on wagering requirements as a way of preventing money laundering and complying with regulations on anti-money laundering. This is in order to prevent persons from making huge deposits from ill-gotten sources and using bonuses to clean these funds and then request for immediate withdrawals.
Since these online casinos are businesses with the aim of making profit, wagering requirements function as tools which assist in curbing financial deficits.
What makes a wagering requirement good?
There are wagering requirements which can be regarded as good for gamers, these are genuine wagering requirements which aid you as you begin playing at the casino. Now, how can you identify a good wagering requirement and when should you accept free spins and their wagering requirements?
They are offered by renowned casinos:
Most renowned casinos offer reasonable wagering requirements with their bonus offers and free spins. Therefore, if the online casino you’re about to register on is an established name in the industry, you can rest assured the wagering requirement is most likely a good one.
Reduced number of wagers
This is a big factor in determining if a wagering requirement is good. A wagering requirement of 25x, 20x and below can be regarded as fairly low wagering requirements. Consequently, the lower the requirement, the more favorable the bonus winnings for the player as it becomes easy for the player to fulfil the wagering requirements and withdraw winnings. However, the downside to low wagering requirements is that the bonuses attached to them may not be as mouth-watering as those which come with higher wagering requirements. For instance, between 5 free spins with a wagering requirement of 10x compared to 100 free spins with a wagering requirement of 50x; on a superficial level, the latter is more attractive, but also more unfavorable to new players.
What makes a wagering requirement bad?
There are also certain wagering requirements which are totally “Greek gifts” and are intended to hoodwink you into signing up on an online casino. So, what makes a wagering requirement bad and when should you avoid such wagering requirements?
This is a red flag. If you’ve read the wagering requirements and you do not understand the terms provided, it’s most likely that such requirements are not favourable to you. The bonus offers might seem generous, however, if the casino is unclear about how the wagering terms work, you should avoid such bonus offers or free spins.
Increased number of wagers
The higher the number of wagers required, the less the favourability. Some wagering requirements are totally ridiculous for players, for instance some requirements are as high as 50x or 60x. Such wagering requirements are unfair and are only meant to discourage gamers from winning from the offered bonuses. At the end of the day, such bonuses are pointless as they have absurd requirements.
In all, the best free spins to accept as a new player are those which come with no wagering requirements or low wagering requirements (25x and below).