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Withdrawing winnings derived from a No Deposit Bonus offered by an online casino may seem a bit overwhelming but as long as you follow the terms and conditions it can definitely be done. If you’re taking your first dip into the No Deposit Bonus pool, there are a few things you should know when it comes to cashing out.
Online casinos are quite generous when they offer players free chips but there is a protective mechanism in place on behalf of the casino known as the wagering requirement.
What is a wagering requirement, also known as playthrough or rollover? Wagering requirements are essentially the number of times you must playthrough the amount of the bonus. Playthroughs can be applied to all sorts of casino bonuses; however we’re going to cover No Deposit Bonuses specifically.
The wagering requirement attached to a bonus may range from 10 times up to and exceeding 99 times. This means that you must wager the amount of your free chip ten times in the case of a 10x wagering requirement. The lower the wagering requirement, the better your chances are of being able to meet it. Wagering requirements on the higher end may seem like it would take an act of God in order to meet and you will most often see this with rogue casinos so watch out for those. At best players can claim bonuses with higher wagering requirements for fun.
One quick note for the newbies, never redeem two No Deposit Bonuses at one online casino back to back. This will void your ability to cashout. It is critical to read the terms associated with the bonus you intend to claim to verify the wagering requirements, maximum withdrawal amount and withdrawal procedures.
Making the playthough applies to certain casino games as well so ensure that you are interested in the allowable games before you proceed. Some bonuses only allow Slots while others apply to Table Games etc. Only playing the allowed games will count toward meeting wagering requirements.
For example, you claim a $10 Slots No Deposit Bonus and the terms specify that you must rollover the bonus 30x.
10x$30 = $300
You will be required to make $300 in bets in order to meet this wagering requirement. So let’s say you decide to bet $1 per spin on a Slot Game. You will need to do this 300 times before your winnings will be eligible for withdrawal.
Another key factor to note is that some bonuses allow multiple games that will all count toward your wagering requirements; however the percentages that go toward the playthrough may vary.
For example, a player claims a $100 bonus with a 40x wagering requirement which means that $4,000 in wagers must be made. The allowed games include the following games and contributions:
Contributions refer to the percentage of each bet that goes towards meeting the playthough.
The player wagers $50 on Slots at 100% meaning that the entire $50 goes toward the wagering requirement.
The player moves on to spend $25 playing Video Poker at 80% meaning that only $20 will go toward the wagering requirement.
Finally the player heads to the Blackjack tables and bets $25 at 10% resulting in just $2.50 of the entire $25 wagered going toward the playthrough.
$50+$20+$2.50 = $72.50
In total, $72.50 of the $4,000 wagering requirement has been met. The player would be best to continue on Slots for the best chance of making the playthrough.
The moment arrives when you meet the wagering requirement. First, do a happy dance….. Then get paid for all your hard work!