The wagering requirements have made their way ahead in the past few years. The wagering requirements began in 2013 when the UK Gambling Commission published a document stating all the lawful changes that were to be adopted by all the online gambling sites in order to possess a UKGC licence.
WHAT IS WAGERING REQUIREMENT?
The minimum spend condition set by online gambling sites while giving out the bonus. This spend part is generally multiple times of the bonus or the initial winnings. The bingo bonus wagering requirement is usually over bingo tickets only with no other spend counted.
Bingo sites are bound to pay players’ money anytime in cash. Thus, the winnings can be taken out anytime the player wants.
Reasons for having the option of wagering requirement by online casinos-
1. The bingo site has to follow anti-money laundering regulations which means one can’t put money in and take it out time and again.
2. The bingo site ensures that the player sits and play for a definite period of time in return for the bonus the bingo site offers.
3. Without a wagering requirement, a site offering reload bonuses can’t prevent a player from taking money and depositing in again and again.
HOW TO FIND OUT WHAT THE WAGERING REQUIREMENT IS?
The Gambling Commission requires the wagering requirement to be mentioned at the time when bonus is offered. Few years back this used to be mentioned in small print but with the growing changes, it needs to be shown near the offer clearly. But now all the bingo sites need to state everything clearly while laying down the offers on the site itself. Nowadays it is even mentioned in bingo reviews.
WHAT HAPPENS TO THE AMOUNT SUBJECT TO A WAGERING REQUIREMENT?
The rule is that the wagering amount along with the winnings can be obtained until the playthrough requirements are met. Generally, such amount can be used for buying bingo tickets on the bingo site and the rest amount can be used for meeting the wagering requirement.
HOW TO FULFIL A WAGERING REQUIREMENT?
One easy way to fulfil the wagering requirement is to play and win more and more until the wagering amount is spent. Well, you can only hope that the money you spend as the wagering requirement is earned as winnings. In the game of online gambling, there is no surety of anything. The game is of chances and includes risk.
HOW TO WITHDRAW FROM YOUR ACCOUNT
Withdrawal of amount is generally restricted for the wagering requirements. But once the requirements have been met, one can withdraw from the account.
One should understand the wagering requirements before accepting bonus amount in the account. Since every bingo site has different types of bonuses and wagering requirements, a complete information about these terms is required. The most important part is to go through all the terms and conditions mentioned on the bingo sites. Also go through the bonus and promotion policies mentioned on the page. Try to clear your doubts through the chat, phone or email option.