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What are Bingo Wagering Requirements?
By Brodey Sheppard - September 08, 2016
Bingo is one of the most popular pastimes in the world, and the main reason it is loved by many is that it is a lot of fun. It is a very social game and players usually find that they spend most of their time talking to the people around them. Additionally, the friendly competition among hundreds of players can be quite entertaining. If you are new to bingo, you may not understand all the hype about it. However, once you’ve tried it, you will see why people enjoy playing it. Take advantage of available bingo promotions to experience the entertaining game for yourself.
However, before you try new bingo sites with no deposit, it would help if you equip yourself with some wagering knowledge. As a bingo novice, it is all too easy ran afoul of a site’s wagering requirements which determine the provisions in cashing out. So aside from learning how to play bingo online, get an overview of a bingo site’s wagering requirement by reading through the details below. You can also check out HitYah’s bingo reviews which go hand in hand with this article.
Bingo Wagering Requirement Defined
Online bingo sites – even the latest bingo sites – impose a minimum spend condition to its players when they offer bingo bonuses. This wagering requirement usually involves some multiple of the bonus, or the bonus in addition to any associated deposit. In general, the minimum spend has to be in the form of bingo tickets only, and money spent on other games on the site does not qualify or otherwise is counted at a discounted rate. While bingo wagering requirements may sound too strict for you, you must realise that casino and slot sites tend to require a much larger minimum spend compared to bingo sites.
Bingo Wagering Requirement Explained
Most bingo sites have a wagering requirements for two reasons. The first reason is their compliance with money laundering regulations. Secondly, they set out the wagering requirement to ensure that they get the ROI of the welcome bonus by having you play bingo for a long time. The most common wagering requirement for online bingo is triple the deposit and the bingo bonus combined:
3 x (deposit + bonus) = minimum spend
For instance, suppose you deposited £20 and you received a 200% bonus of £40. You have to wager the sum of your deposit and bonus at least three times, so your minimum spend would be £180.
3 x (£20 + £40) = £180
This means that you have to spend £180 on bingo tickets to clear the wagering requirement.
While there are sites that offer no deposit bonus bingo, you will find other welcome bingo bonuses that may look appealing but also tend to require higher wagering requirements. Make sure you read through HitYah’s bingo reviews on the newest bingo sites because you may find that some sites offer reload bonuses but carry a further wagering requirement which usually takes a long time to clear. But if visiting online bingo sites to play for fun and not really for money, you won’t mind the wagering requirements.
How to Identify the Bingo Wagering Requirement
Online bingo sites usually post their wagering requirement on small print. For your convenience, you can check out HitYah’s bingo reviews. Aside from posting bingo promotions and bonuses from sites like Mecca Bingo and Sun Bingo, we also research their wagering requirements.
The Types of Bingo Wagering Requirements
There are online bingo sites like PayPal bingo sites that offer convenient deposit and withdrawal methods. While it has become easier to withdraw your winnings, be aware of a bingo site’s wagering requirement to avoid forfeiting your bonuses. The first type of a bingo wagering requirement is the one that must be cleared before you can make any withdrawal. If you will not be able to meet this wagering requirement, all your winnings from the bonus wagering will be forfeited. The second type of bingo wagering requirement is the one that you don’t have to meet before you make a withdrawal. However, if you don’t meet this wagering requirement, any of your remaining bonuses will be forfeited.
If you’re asking if there’s a way around the wagering requirement, the answer is yes and no. There are online bingo sites that will let you out of the bonus offer so you won’t have to meet the wagering requirements. However, they will mostly require you to max out your deposit in one go so they can comply with money laundering regulations.
Bingo Wagering Requirements in the UK
In the UK on September 2013, the Gambling Commission released a consultation document which proposed changes to gambling codes of practice and conditions in relation to the legislation that was passed in October 2014. The commission identified the marketing of free bets and bingo bonuses as areas of concern due to misleading or unfair conditions and terms. According to the Advertising Standards Authority, the number of complaints about misleading bonus offers and free bets was increasing. Hence, the association took action by requiring bingo sites and other casino gaming operators to have their wagering requirements available in plain sight (some sites post it in small print).
Finding it difficult still to determine an online bingo site’s wagering requirements? Read through HitYah’s bingo reviews to conveniently find the wagering requirements of bingo sites like Tombola Bingo, William Hill Bingo and Jakpotjoy, among many others.