Lately, the UK’s Competition and Market’s Authority issued warnings and required gambling operators to include promotion limitations to the advertisements. And the reasons are clear: many players don’t take them into account when choosing a game or a casino. However, it is evident that these requirements significantly influence the decision of whether to play or not and can be one of the tools when fighting compulsive gambling.
What if casino advertisements and commercials contained information on wagering requirements? Would players be more attentive and would they influence the decision? Is this a good chance for wager-free sites to start fighting for a place under the sun? After all, players prefer choosing sites without any requirements since casinos with no wager bonuses are making life easier for gamblers and direct advertising could be a gold mine for these gambling sites.
Wagering Requirement: Definition
According to The Institute for Social Marketing of the Stirling University research, 96% of participants under 24 have seen gambling promotions and eight out of 10 were able to name gambling logos correctly. Not surprising that the question of including wagering requirements and other restrictions to the commercials is so sharp. But let’s start with the basics:
A wager is a bet or money which is spent on a slot or another casino game. Wagering requirements are limitations on promotions and bonuses offered by the gambling site. For example, free spins, free bets, and cash bonuses. The requirements indicate how gamblers must wager a bonus or money before withdrawing it. Only when all the requirements are met, it’s possible to collect the winnings.
How They Work
Wagering requirements are different depending on the bonus type. They may change depending on promotion validity, bet limits, contributing titles, and the number of multipliers. For example, if you have an x40 wagering requirement, you need to bet the bonus amount forty times.
Let’s assume that you have a $100 bonus that has an x40 wagering requirement. This means that you’ll be able to cash out the winnings only when earning $4,000. The formula is rather simple:
Bonus amount x Wagering Requirement = Total Bet
When it comes to free spins, the restriction is a bit different. If the casino’s wagering requirement is x35, it applies to the winnings redeemed from the free spins because they don’t have a monetary value. Thus, if you win $100 from free spins, you’ll need to wager $100 35 times before cashing out.
Why They Are Used?
If these requirements harm players and prevent them from joining a gambling site, why anyone needs to apply these restrictions? There is a rather clear answer: wagering requirements prevent casinos from players, who take unfair advantage of bonuses and promotions. It’s rather unfair that a player joins a casino, claims a bonus, and then disappears with the money without making a single bet.
According to the eCOGRA Annual ADR Report, the total number of received disputes in 2018-2019 equaled 951. Some of them concerned wagering requirements and players complained that they weren’t able to withdraw the winnings and had to meet strict limitations. However, the requirements are always indicated in the Terms & Conditions section, and you need to read them attentively before joining a particular website and making a deposit.
The Future of Wagering Requirements
Around 50 members of the UK Parliament want to ban any TV and online advertisements related to the gambling industry. They think that gambling is out of control and this decision will solve the issues of problem gambling. However, the Advertising Association responded to the All-Party Parliamentary Group for Gambling Related Harm (GRH APPG) and rejected the offer of a complete ban. However, they agree that there should be partial limitations.
Most likely, they will concern wagering requirements which should be mentioned any time promotions and bonuses are advertised. Thus, gamblers will be aware of limitations and won’t have such a bright and attractive picture of free money and spins.
Luckily, there is a big number of no deposit and wager-free bonuses for those, who want to bypass the requirement and to get the maximum out of the game. We’ll keep you updated and will inform you once any clear decision will be made.