Wagering Requirements Explained
In the terms and conditions of every bingo site, you’ll find information on wagering requirements. These can be confusing for even the most experienced of players, as the concept can be hard to get to grips with. We’re here with a handy guide that takes all of the mystery out of wagering requirements.
What Does "Wagering Requirements" Mean?
We’ll start with the basics, what are online bingo wagering requirements? Simply put, they signify the amount of times you would have to wager a bonus to withdraw it. This is always expressed as a number and then a times symbol, as it’s based on the amount of times you must use it.
For example, if you deposited £1 on a site with a wagering requirement of 35x, then you’d need to wager the equivalent of £35 before it became real cash. This can seem simple but every site is different and even different bonuses on the same site can have differing requirements.
There may also be withdrawal limits in place on a site on top of the banking policy. These would generally specify how much you can win from a bonus and any restrictions that may apply. The terms and conditions of a site hold all of this information but it can be a bit tricky to decipher.
What Are The Wagering Requirements On Lucky Touch Bingo?
LuckyTouch Bingo is a bingo site with low wagering requirements so we don’t impose harsh terms. The wagering requirement for your bonus on our site is 40x so you need to play through your funds 40 times before they transfer over to your real cash balance. If you win funds as a result of free spins, then the total amount won is subject to the wagering requirements.
We try our best to keep things simple but unfortunately terms and conditions can get tricky. Remember that you can get in touch with our support team if you want to know about your own bonus or balance in particular.
Why Do Bingo Sites Have Wagering Requirements?
You might think that wagering requirements are just an unnecessary headache and they shouldn’t exist at all. There are some very good reasons that bingo sites have them in place though and as long as they are fair they are a positive feature.
The main reason they are in use is because otherwise players could abuse the bonuses that we give them. If you were given a bonus without wagering requirements then you could withdraw it right away and basically double or triple your money. This might seem like a great idea but if this were the case then it would most definitely lead to your favourite bingo sites going out of business.
There are also legal issues surrounding wagering requirements, as sites without could be used for money laundering. This would involve a player with illegitimate money basically running it through the site to make the money appear legitimate.
Finally, at LuckyTouch Bingo we want you to come back and play so it makes sense that our bonuses want you to do that too. It is possible to win real cash from them and we make sure that our players are happy, so there’s no need for you to want to withdraw and go elsewhere.
If you’d rather not deal with wagering requirements then you can always feel free to opt out of a bonus. Hopefully our guide has made it all a bit clearer for you and you can check our T&Cs for further information on our policies. Then, once you know all there is to know there’s nothing to prevent you from just having fun on the games.