What are bingo wagering requirements? They are a term or condition used by bingo sites that must be met to complete a bingo bonus. It is usually expressed as a multiple of the bonus amount, e.g. 4x (bet the entire bonus amount four times).
I have claimed bonuses from all of the websites featured here at Bingo Sites Guru. I have experienced the highs (completing the wagering requirement and withdrawing cash) and lows (usually from not reading the t&cs properly :/ ). This guide has been created to help you know what you are signing up for.
Most wagering requirement guides online are written for casino bonuses. So I set out to fix that.
Many bingo wagering requirements are different at each bingo site. However, there are some standard features.
Here is the guide:
What Is A Wagering Requirement?
– Example wagering requirements
Why Do Bingo Sites Have Wagering Requirements?
Where Can I Find The Wagering Requirement For An Offer?
What Are Wagering Requirement Terms And Conditions?
What Happens When I Complete The Wagering Requirement?
Always read the terms and conditions of a bingo bonus before claiming.
Keep reading to find out everything about bingo wagering requirements.
What Is A Wagering Requirement?
A wagering requirement is the amount of money, usually a multiple of the bonus amount, that a player must wager before being allowed to make a cash withdrawal. A wager is another term for a bet placed on a game. When you claim a bonus, you are paid the money in bonus and not real cash.
This bonus money is usually kept in a separate wallet. It comes with a wagering requirement and other terms and conditions attached to it. Bonus money can not be withdrawn until you complete the wagering requirements (and any other terms). Many online bingo players struggle with these terms.
Example wagering requirements
4x on bingo – If you receive a bingo bonus with a wagering requirement of 4x, that means the bonus must be wagered (or bet) 4 times on bingo games before it is completed. For example, if your bingo bonus is £10, you will need to buy £40 of bingo tickets to complete the bonus.
40x on slots – If you receive a slots bonus from a bingo site and it has a wagering requirement of 40x, that means the bonus must be wagered (or bet) 40 times on slot games before it is completed. So, for example, if your slots bonus is £10, you will need to buy £400 of spins on a slot machine game to complete the bonus.
Why Do Bingo Sites Have Wagering Requirements?
The number one reason bingo sites have wagering requirements on a bonus is that it keeps players on the website. It stops players from taking the bonus money straight out. When players continue betting with their bingo bonus, it increases the bingo game prize pots (liquidity).
It keeps more players in the room, so there is a busier, lively chat forum that is much more fun! Wagering requirements get new players in particular familiar with how to play. This ultimately allows the bingo sites to give you a bigger bonus! You get to play more games and buy more tickets than you would with your cash only.
Where Can I Find The Wagering Requirement For An Offer?
In the UK, regulated gambling firms’ promotions and terms & conditions must be displayed clearly, be fair and not misleading. [1]
Bingo sites have to be upfront and transparent about the offer’s details, including the wagering requirement. They must provide this promotion information before the players sign up to evaluate if they actually want to.
The terms have to be shown on the advert for the offer, on landing pages, on sign-up pages and once the offer is claimed, within a single click from the bonus tab on the player’s account. [2]
What Are Wagering Requirement Terms And Conditions?
In addition to the amount that must be wagered, here are some other terms & conditions you should be aware of:
What happens if I withdraw before completing a wagering requirement?
UK players at UK Gambling Commission licensed bingo sites always have the right to withdraw winnings made from gameplay with their deposit. This means that wins made from cash bets always pay to your cash balance, and you can withdraw.
You can withdraw your own money even when you play as part of a bonus promotion. [3]
However, making a withdrawal from most bingo sites will result in forfeiting any remaining bonus.
What is a max bet, max win and max transfer?
A max bet is a maximum allowed amount of money, or limit, that can be placed on a single game round whilst your bonus is active.
A max win is a maximum amount of money or limit paid out by a single game round.
A max transfer is a maximum amount of money or limit that will be paid to your withdrawable cash balance when you complete the wagering requirement.
What is cash-first wagering?
Cash first wagering is when your wager is firstly taken from cash balance rather than your bonus balance. Some bingo sites use cash-first wagering on all of their offers.
Other sites use split-wallet wagering. Split wallet wagering is where your bet amount is taken partially from your cash balance and partly from your bonus balance.
What Happens When I Complete The Wagering Requirement?
This is the best bit! Completing the wagering requirement will turn your bonus money into real money! In addition, your bonus balance will transfer automatically over to your cash balance (up to the max transfer amount, if the bonus has one) as the wagering requirement is completed.
Once it is in your cash balance, it is up to you what you do next. You can keep playing, or you can withdraw it back to your payment method.
One thing to be aware of is that not all bingo sites will notify you immediately as the bonus transfers to your cash. Suppose you intend to withdraw as soon as possible. In that case, it is recommended that you monitor how much you have wagered. This is shown within your ‘Account’ section of the website.
What to do next?
Now we can answer ‘What are bingo wagering requirements?‘ knowing that they are a term or condition you must meet to finish a bingo bonus.
Whether a bingo wagering requirement is 4, 5, or 10x, we know it is an amount of money that we need to bet on bingo games. We also see why they are used by online bingo sites (to keep players on the website) and where to find them (in the terms and conditions of the bonus).
You are now one step closer to achieving online bingo nirvana! Be sure to read our other bingo guides and continue to learn from your master bingo teachers, the Bingo Sites Guru team 🧘🏽♀️
