If you frequent online casinos, such as playsugarhouse.com, or if you are interested in a bit of gambling, then you need to watch out for wagering requirements. Unfortunately, not everyone is aware of these "small print" rules that can make the difference between a great payout and losing big.
When given free play, or money given to you by the casino that often matches money you have put in yourself, this sneaky requirement could make you lose it all.
"In a land-based casino, if you get free play, you play it and whatever you win from the machine is yours. At playsugarhouse.com we work in the same way the land-based casinos do it, anything you win from a bonus is yours to keep.” However, online, what some other operators do, is they give you a bonus but tie the release of the bonus money to unrealistic play through requirements," says Mattias Stetz, COO at Rush Street Interactive/playsugarhouse.com.
Stetz warns that many of those online casinos have fine print requirements that the player can't keep any earnings from that bonus until they turn over, or wager/play, that same money a certain number of times. “Our goal is to always be the fair and honest casino, so players don’t feel the need to read the fine print on our site because they know they can trust us.”
"A wagering requirement is a multiplier that indicates the number of times you have to play a bonus before you are able to withdraw any winnings," explains Casinopedia. "Wagering requirements can vary drastically between different online casinos. For example, it is not uncommon to see very high wagering requirements set at around 25 times."
For instance, an online casino could give players a $100 bonus to play. However, if the establishment has a rule that gamers must play with that same money 20, 25, or even 40 times (20X, 25x or 40X) before they get to keep any of their earnings, then the chances of them having anything left of the $100 would be very small.”
If putting any bonus money into a game and being told you have to play a certain amount of times to get any winnings seems unfair, it's because it is. Without the option to pull out of the gaming streak while you are ahead, more money could end up being lost than earned.
So how do players avoid getting hit with bonus requirements? Especially when they make getting the full winnings back extremely difficult?
The simple answer is to look for an online casino that doesn't use these unfair bonus requirements. Ideally, gamers would only be required to play their money 1x time instead of 25x or 40x times.
For example, the Sugarhouse Online Casino has a wagering requirement of one time (1X).
"What we do is exactly what the land-based business does," says Stetz. "We have a one-time wagering requirement. Just one time. Meaning that if you get $100 from us ... you only have to turn that money over once ... Whatever you win playing this bonus is yours. If you put a dollar in the machine and you win three? That's your money already."
“The player may then choose to continue playing the bonus, but if they do, all of those earnings are theirs to keep,” says Stetz.
When first signing up for an online gaming site, players should take certain precautions to avoid being tricked.
"(Players) need to look in the fine print for that wagering or play-through requirement. What is it? If it's one time, then it's the same as land-based. If it's anything more, then people should be aware of that. That if it says a thousand (dollars) and 25X, that doesn't mean that they're going to get a thousand at the end," explains Stetz.
He describes that if you are forced to play that money multiple times, that money will be quickly gone if the player gets the average payout.
Barring a major, extreme win, players may run out of this money quickly. While major wins happen from time to time, these bonus requirements are detrimental to the average player.
When starting as a new player on any online gaming site, gamers should make sure to read the fine print and read in detail the requirements of that particular site.
For more information about 1X wagering requirements, visit playsugarhouse.com.