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Online bingo can be a fun experience, but the terms and conditions of using the site are often overlooked by many. Given the vast amount of information written there, it’s understandable that users tend to skim through the content, not fully comprehending what they mean. However, knowing the wagering requirements of the bingo site should be a key priority before you start playing because it directly impacts your total winnings. Here’s all you need to know about wagering requirements for online bingo.
What Are Wagering Requirements?
Bonuses are great to have, but they’re rarely without conditions to fulfil. These conditions are also known as wagering requirements, set in place to ensure that bingo players don’t misuse and take advantage of the free credits, and to warrant a fair play. On top of that, wagering prerequisites also help prevent money laundering which could potentially jeopardize the entire online bingo community. Yes, restrictions are a bore, but it’s surely better to have them around to deter crime and unfair play.
While these wagering requirements are to the benefit of the bingo websites, not all sites have them. Instead, they may have their own rules or prerequisites to fulfil before being able to access the bonus premiums. Ideally, you’d want to find a site that has lower wagering requirements, as those would help you withdraw your rewards quicker. One good way to find out an appropriate site is to compare sites with Bingo Mum.
Meeting The Requirements
All online bingo websites are lawfully required to state the terms of their bingo bonuses within their terms and conditions such that they do not confuse the readers. Depending on the website, the condition of meeting the wagering requirement could be different. For example, if there is an X4 wagering requirement, this means that players will need to play the same amount for four rounds before they can access the bonus. Meanwhile, some sites might have a wagering requirement of topping up cash to level the stake.
If you’d rather not concern yourself with the seemingly tricky terms and conditions of wagering requirements when playing online bingo, you could, of course, choose to play with cash and forgo the extra bonuses. While choosing to opt out of receiving free rewards might sound ridiculous to most people, it is not entirely illogical because the prerequisites could be rather difficult to achieve.
To opt-out, users will usually be required to key in a code, tick a box to specify their option, or simply communicate with the customer support team. The requirements for each site can vary in nature so it’s important that you make sure that you’re aware of the site’s terms and conditions.
Fairness of Wagering Requirements
Wagering requirements differ greatly from site to site –– some requirements apply to the in-game bonuses, while others might involve actual cash deposits on top of the free game credits. So no, they’re not equal.
For some sites, their wagering requirements only apply to the bonus cash that’s given to you, which means that you don’t need to deposit real money. On other sites, their wagering requirements might require you to use real money deposits.
Cashing Out Rewards
To truly receive the full benefit of your premiums and withdraw the earnings from your account, you must clear all the bonuses you have, and this means fulfilling the prerequisites of wagering requirements. Otherwise, you will not be allowed to cash out on your bonus.
Occasionally, users might have more than one active bonus. In such cases, it is important to read through the terms of the bingo website as it is up to the company to decide on the rules. Some websites are slack on the restrictions while others are strict. Thankfully, most bingo sites have a notification system to inform players when they have hit the criteria to withdraw their winnings. That said, keep in mind the minimum withdrawal amount or you might not get any!
Certain bonuses have a specified time limit which will result in a complete wipeout of all bonus credits in your game account if unused or not withdrawn within the given time frame. This inevitably means players have to make use of the rewards earlier in the game to hit the prerequisites. Beware not to get caught in such a situation unknowingly –– hence, it’s important to exercise diligence to do research.
Your bonus credits could also get cancelled when you withdraw money from your account. While not all sites are the same, some do notify players should there be any credits in your account that could potentially face forfeiture.
On the Bright Side
Although it is understandably set in place for everyone’s benefit, having to go through the terms and conditions of anything is easily the bane of anyone’s existence, because of how confusing it can be. However, rejoice! The online bingo community is receiving much better regulations to ensure fairness in the games carried out by the websites. Several businesses even had their fine print reworked. Clearer and more defined restrictions are being introduced, but ultimately, it is up to the onus of every player to be well informed of the rules and regulations about the bingo website they use.
Be wary of sites that lack information on their wagering requirements as it’s simply illegal. All bingo websites should have their wagering requirements written clearly in an easily accessible place.
Cashing out on your games can be very exciting and instant gratification is the best, but different websites will require different lead times to process the transaction. While some companies can process the payment immediately, others might take a few hours or even days to complete the transaction. Further, the mode of payment that you opt to go by also weighs in on the time taken till you see the credits materialize in your bank account.
If there’s only one takeaway from this article, remember that the terms and conditions are of paramount importance. Read it, understand it, and remember it. Always keep yourself updated with the latest changes to the rules and regulations of the online bingo community, especially those that are specific to the bingo website that you frequent.
Don’t think of it as a waste of time to go through the nitty-gritty fine print of the wagering requirements because it could be a game-changer to your total winnings and how much, if at all, you can withdraw at the end of the day! That said, information on the wagering requirements is simply a small part of the sea of important content that you ought to know before jumping into online bingo.