Like any online site that offers a prize, online bingo sites need a special way of protecting their offers and promotions. It’s a business after all and they’ll always try and safeguard their financial interests. The majority of reputable online bingo sites do offer a kind of free bingo play in the form of a deposit bonus. This deposit bonus is a way of attracting new customers like you to their bingo site. There are however some minimum wagering requirements, and even though you’ll find this information in the fine print, it’s not always explicit, especially to the bingo novice.
How do these requirements work?
It’s simple mathematics; say you deposit ‘x’ amount into your online bingo account, the site will then reward you by doubling or trebling the deposit. Sometimes if you land on a decent site, the return is even higher. This is a way that you’ll be able to boost your balance, but it’s also when a bingo site’s minimum wagering requirements come into play. All online gambling sites, bingo included (yes, it’s a form of gambling) have a special system that requires the player to accomplish a set number of wagers before they’re allowed to consider withdrawing any of their monetary rewards. It’s completely fair and it’s transparent. Read up on the site’s terms and conditions to check out the minimum wagering requirements before committing to one particular site otherwise you may end up getting disappointed and frustrated. Bonuses on bingo sites differ greatly, so there’s no standard rule for each bingo site online. It depends on the bonus you’re getting and it also depends on the site you choose to play on.
A common wagering requirement
One of the most popular and common minimum requirements regarding wagering on bingo sites is that you have to wager a specified amount of money before you’re able to withdraw it. In the majority of cases you’ll be required to make at least one deposit that has been completely spent before being able to withdraw your bingo winnings. This is the bingo site’s way of protecting themselves. It means that you can’t simply walk away with the free bonus money without having wagered anything. For example, if you make a deposit of £10 into your bingo account online, and you’re given an extra £20 by the site for free, you’ll have to wager the bonus money to be able to withdraw the original deposit of £10 and any extra winnings you may have accumulated. However, many bingo sites are tightening up and believe this method is still too simple, so it’s now not uncommon for a site to state that a player must wager their bonus amount at least two times or maybe even three times before they can withdraw any cash. Another trick a bingo site may use when it comes to implementing their minimum wagering requirements is to separate the bonus and deposit and place them into two different funds, making it impossible for a player to withdraw their bonus. This means that the bonus is only able to be used for one purpose only – using it to play bingo games online. However, you need to note that all the extra bonus money must be used in order to withdraw your winnings.
Are there any wagering requirements for bingo bonuses?
In short, yes. These minimum wagering requirements that are implemented by sites don’t only apply to your withdrawals. They’re often applied to various bonuses that you may wish to claim. For example, there are many bingo bonuses that clearly state that if you want to be able to claim your bonus, it’s necessary for you to wager ‘x’ amount of money on certain bingo tickets. This has nothing to do with online bingo companies being tight it’s related to them protecting their interests and not being taken for a free ride. They want to keep providing a fair online bingo service to you, which is why you need to oblige to their rules – it’s only fair.