If you have been actively reading about the online Bitcoin casino scene or plays Bitcoin casino games, then you would have heard or seen wagering a couple of times. It is a popular term in the casino world that is mostly tied with bonuses.
However, despite its popularity, several casino players still don’t know what it means or how to take advantage of it on a bonus. One of the most vocal complains by Bitcoin casino players is the lack of bonus payment by the platforms. In most cases, the players don’t know what wagering requirements are or how they affect their bonuses.
In this post, we will explain what wagering requirements mean and why Bitcoin casinos apply them to their bonuses.
What are the wagering requirements?
Wagering requirements are multipliers that represent the number of times you are required to play using a bonus before you are allowed to withdraw your earnings. In other words, wagering requirements are conditions that have to be met before a Bitcoin casino can allow you to withdraw your earnings.
For instance, if you have 1 BTC bonus with a wagering requirement of 10x, it means that you will have to spend 10 BTC on eligible games on a platform before you are allowed to withdraw any pending winnings you make, such as the 1 BTC bonus.
The wagering requirements are usually regarded as the ‘play through’ as they tell you how much Bitcoin or other cryptocurrencies you need to stake in order to activate and claim your bonus. The wagering requirements are present in virtually every bonus offered by online Bitcoin casinos including no deposit bonuses, welcome bonuses, reload bonuses, cashback, and more. In some cases, the wagering requirements are present in promotions and tournaments.
How do they work?
Wagering requirements are easy to understand. Let’s a Bitcoin casino has a first deposit bonus of 100% up to 1.5 BTC, with a 10x wagering, you will be given a bonus of 100% for any amount you load not higher than the stipulated BTC. Thus, if you deposit 10 mBTC, you will earn an additional 10 mBTC as a bonus. However, you will need to spend 100 mBTC before the platform releases your bonus and allows you to withdraw it.
The wagering requirements will enable casinos to offer bonuses to their customers without the fear of users abusing it. Because of the wagering requirements, casino players will have to spend more on games to unlock their bonuses. Thus, the casinos continue to offer their services and bonuses and protect themselves financially.