Learn How Can We Wager Free Spins?
Today, almost all online casinos offer free spins and bonuses which players can use to their advantage. However, it’s important to note that these free spins come with bonus conditions which are referred to as wagering requirements. These requirements vary from casino to casino and even from game to game.
Keep reading to know what are wagering requirements and how to wager free spins.
What Are Free Spins Wagering Requirements?
Every single casino bonus offer has terms and conditions as well as wagering requirements associated with it. In simple words, wagering requirements are a set of non-negotiable conditions that must be met by players before they can cash out winnings from the free spins awarded to them.
Wagering requirements dictate the number of times free spins winnings must be wagered before it can be cashed out. For instance, a wagering requirement of 30x means that your bonus needs to be wagered 30 times, before converting it to real cash. So, if you’ve received a bonus of $5, you’ll have a wagering requirement of $150.
The wagering requirements offered by casinos vary. Some casinos offer free spins with requirements up to 20x, 30x or 40x, while others offer even higher numbers. So, it’s important for you to check the terms and conditions before wagering the free spins.
What Are No Deposit Free Spins?
No deposit free spins are the best kinds of spins that you can get when playing slots as they allow you to keep your winnings without having to wager at all. Basically, when you get a win from your free spins, you can make a withdrawal straight away. So, it’s no surprise that everyone goes crazy about these particular offers. Check out free spins no deposit NZ offers as they allow players to spin the reels of popular slot titles without risking their own cash.
How Are Free Spins Wagered?
Let’s assume that you’re rewarded with 20 free spins with a requirement of 30x and you’re able to win up to $100 from the free spins. As such, the online casino requires you to wager your winnings ($100) by the number of required times (30x) to make at least $3,000 (30x$100) before a withdrawal can be processed.
Furthermore, most free spins offered by online casinos often come with a maximum withdrawal limit. So, if the free spins bonus comes with a maximum win amount of $1,000, you’ll only be able to withdraw $1,000 and will forfeit the remaining $2,000. The reason for these limits is to prevent online casinos from going bankrupt as a result of having to pay out huge winnings to players.
Why Are Wagering Requirements Important?
Many players believe that the wagering requirements are in place in order to make it hard for them to cash out their winnings. This is not the case, however. Wagering requirements are placed by casinos to protect both themselves and the players, and to maintain the integrity of the free spin bonuses.
Another reason why free spins have wagering requirements attached to them is to limit the financial liability of online casinos. In other words, some players often rack up enormous winnings which, if uncapped, can cost millions to the casinos and affect their profitability in the long term.