The Importance of Wagering Requirements

In the UK the online bingo market is fiercely competitive. To attract and retain players online bingo operators are offering bigger bonuses than ever. Welcome bonuses can be as high as 600% or more. Most bingo operators offer some sort of bonus for every deposit made. In addition online bingo operators are gearing up for the holiday season and are offering some spectacular promotions. Bonuses usually come with terms and conditions attached. It is very important that players read and understand these. Players should pay close attention to wagering requirements associated with bonuses.

So what is a wagering requirement? A wagering requirement is a multiplier that represents the number of times a player must play through before claiming any winnings received while using bonus money to play. At most bingo sites winnings are stored in a pending balance until the wagering requirement is met. Players cannot withdraw any money from the pending balance. Players can use pending funds to work down the wagering requirement until the requirements are met.

At some sites players must opt in or out of any bonus offers. If the player opts in he or she must accept the terms and conditions associated with the bonus. Once players use bonus funds they cannot opt out. Players that opt out forfeit the bonus and are ineligible to re-enter the bonus offer. Some bingo sites allow players to use bonus money on side games but most do not allow the use of bonus funds for side games. In most cases a bingo bonus can only be used to play bingo games. At most bingo sites players are able to keep track of their progress towards meeting the wagering requirements.

At many sites if players make a withdrawal while using a bonus with outstanding wagering requirements they may have to forfeit any remaining bonus funds. To release funds players must work down the wagering requirement for the specific bonus. Once the requirements have been met funds stored in the pending balance will be released to the player’s cash balance. Wagering requirements are tricky so players must make sure they thoroughly understand them. At some sites the wagering requirements are so stringent that they make any bonus worthless. Bonuses are good for players and operators. Players essentially get several free bingo games and operators have acquired a new customer.

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