For anyone new to Matched Betting casino offers wagering is one of those concepts it’s really important to get your head round.
Fortunately it’s definitely one of those things that seems more complicated than it is!
What is wagering?
In Matched Betting casino offers, wagering is the act of spending (or betting) money – be it your own money or bonus money - on an online slot machine, or game of roulette, bingo, poker, BlackJack or other similar type of online casino game.
If we consider a typical online slot with a ‘spin bet amount’ set to £1, each time we spin the slot machine we will be wagering £1.
If we click ‘spin’ on this slot machine 10 times we would then have wagered £10.
If we’d clicked 25 times, then we would have wagered £25.
50 times, then we would have wagered £50, and so on.
It doesn’t matter if we are using our own money or bonus money, or if we win on a spin or not – none of these things influence the total amount that we have wagered.
Only the number of spins we use (or bets we place) and the amount of money we bet per spin (or bet we place) influence the total amount wagered.
Here’s a few different example scenarios to emphasize this point. In every scenario we have a starting cash balance of £5, and we have to complete £5’s worth of wagering, either with our own cash or with a bonus.
The key take-away here is that the Spin Bet Amount multiplied by Total Number of Spins you do = Total Amount Wagered
£1 x 5 spins = £5 wagered.
Spin Bet Amount, Number of Spins and Wagering
When using £1 spins it’s quite easy to understand that we have to do 5 spins in order to wager a total of £5.
Based on us still having to complete £5’s worth of wagering – how many spins would we need to do if we were betting 20p per spin instead of £1 though?
To work this out we just need to divide the total amount we need to wager by our new spin bet amount.
£5.00 divided by £0.20 = 25 spins
What if we were betting 10p per spin?
£5.00 divided by £0.10 = 50 spins.
Wagering Your Own Cash to Unlock a Bonus (or Free Spins)
When you get sent or see a casino offer from a bookmaker it’s really important to ALWAYS carefully read the terms and conditions.
If the offer says ‘Deposit £5 and Wager £5’ in order to receive a bonus/free spins of some kind, then to trigger the offer you must first deposit at least that amount and then wager the specified amount.
If the offer just says ‘Wager £5’ in order to receive a bonus/free spins – you do not necessarily have to deposit if you’ve already got cash in your balance!
This is even the case when you have a cash balance that’s smaller than the total amount you need to wager - as potentially you could complete the necessary wagering with that balance alone.
Here’s an example where we need to wager £5 to unlock a bonus, but we only have £2 in our cash balance.
The £5 wagering was completed without any need to deposit.
Now, we also could have lost on our first two spins and finished our £2 cash balance. We then would have needed to deposit a bit more cash in order to complete the remaining £3 of wagering.
Long-story short...when you see only ‘Wager’ don’t assume you need to deposit too – it might not be necessary.
Bonuses with Wagering Requirements
It’s frequently the case that when a casino gives you some bonus cash to use that the bonus will also have some sort of wagering requirements attached.
A wagering requirement is the amount of times you must wager the bonus money before you can turn it into cash and withdraw it.
In our example scenarios (3 and 4) the £5 bonuses had 1 x wagering.
This meant we had to wager the total bonus amount just once before any winnings we made with the bonus would turn into cash.
We had to do 5 x £1 spins and the £5 of wagering would be complete.
In scenario 3 we won on some of the spins, so when we completed the last spin to complete the wagering, any winnings we had made transferred to our cash balance.
In scenario 4 though we didn’t win anything while wagering the bonus so our cash balance just stayed the same.
What if our £5 bonuses had 2 x wagering though?
This would have meant we had to wager the total bonus amount twice before any winnings we made with the bonus would turn into cash.
To work out the total amount we need to wager we just need to multiply the wagering amount by the wager requirement amount. In this example it would be:
£5 x 2 = £10
Now we have to do 10 x £1 spins in order to complete a total of £10 of wagering with our £5 bonus.
Scenario 7 gives an idea of what this could look like.
So too does Screnario 8 – but in this instance, because we don’t win very much on our first few spins, we ‘bust out’ of our bonus before we could complete our required £10’s worth of wagering.
Here, after Spin 7 we would stop playing because we’ve finished all our bonus cash and we don’t want to start playing with our own cash!
You will see bonuses with all different kinds of wagering requirements on them.
Here’s a few more examples with the Total Amount that we need to wager calculated for them too.
The lower the bonus wagering requirement the better the bonus is for us – as the quicker we can (hopefully) turn the bonus money into cash in our pocket!
The higher the bonus wagering requirement the more likely we are to ‘bust out’ and not make anything (unless we happen to have a big win along the way of course). This is especially the case if we are required to use a slot or casino game that doesn’t offer a great ‘Return to Player’ (RTP) (i.e. a slot that doesn’t give us much chance of winning anything much at all).
Free Spins with Wagering Requirements
This is one to watch out for – don’t just assume when you see ‘free spins’ that they are completely free spins as sometimes they can come with wagering requirements too!
How do wagering requirements on free spins work?
Well, the wagering requirements get applied to any ‘winnings’ that you make from the free spins.
The 777 Casino Welcome Offer of No Deposit but get 77 free spins is a great example of such an offer.
Winnings from the 77 free spins have to be wagered x 50!
Win just £1 from the free spins and you need to wager this £1 in winnings 50 times (so a total wagering amount of £50) before you can make any cash profit.
Win the maximum winnings of £20 from the free spins and you’ll need to do a £1000's worth of wagering with the winnings before you can make any cash profit. (That's quite a bit of wagering!)
General Tips to Deal with Wagering on Matched Betting Casino Offers
- Always double check the wagering terms of any offer you receive. If you are unsure whether an offer is worth doing because it has wagering requirements of some kind attached to it, please ask in the forum or Facebook Group for help before depositing or attempting to tackle the offer alone!
- Before you start any offer, always check which spin or bet amount you are going to use and work out how many spins (or bets) you will need to use to complete your wagering. In our offer guides we usually try to recommend the best spin bet amounts to use (as well as the best slots and games)
- When you start an offer keep track of the spins (or bets) you’ve done! You do not ever want to wager more that you have to! If there is a lot of wagering to do you can consider with slots putting them on ‘auto-spin’. Just be careful to keep track of this too though.
- 1 x wagering requirements are the best, followed by 2x, 3x and so on. The larger the wagering requirements on a bonus or free spin winnings are the harder it is for us to make a profit.
- Completely free spins with no wagering requirements? Completely free bonus cash with no wagering requirements? Always use these freebies – you never know what you might win!
Advanced Wagering Strategies for Matched Betting Casino Offers
The general consensus when Matched Betting casino offers is to use minimum bet stakes (with maximum lines) when completing wagering. This is the strategy we recommend in most of our guides on Profit Accumulator – as it’s worked very well (for years!)
There are also now more advanced wagering strategies available – mainly thanks to the development of a nice piece of software called the Casino Simulator. This bit of kit basically tells you when it might be worthwhile deviating from the basic minimum stakes strategy depending on things such as the amount already wagered, your current ‘winnings’, slot RTP etc. If you’re interested in learning more about the Casino Simulator and advanced wagering strategies we’d recommend having a look at our dedicated casino site Bonus Accumulator and its accompanying 'BA' Facebook Group.