Wagering, it’s what gambling is all about, right? You’ve played the slot, put your money where your mouth is and won! But now you can’t even access the winnings without going through a whole load of complicated steps that might blow the winnings away altogether. With the advent of no wagering sites, this is becoming an issue of the past. If this has piqued your interest, read on for our handy guide to wager-free casinos.
The History of Wagering
The concept of wagering was born from the problem of online casinos being used to launder money. Essentially, criminals would go into these institutions, pay in using illegal currency, then take out the equivalent in clean money. Wagering was brought in to ensure that players must at least play before withdrawing. While the reasons for its introduction are understandable, there is no question that wagering has gotten out of hand, in some cases, since then. That’s without mentioning the fact that the vast majority of slots players are there to do just that, play slots, and it’s unfair to punish those people for the actions of a minority.
What is Wagering?
To put it simply, a wagering requirement is a multiplier applied to a bonus which signifies the number of times you have to play it in order to take out any earned winnings. Let’s have a look at an example of this; you sign up to a site called ‘X Casino’. They offer you a bonus of £100 to put on a selection of eligible games, but with the caveat that there is a 10x wagering requirement. This would mean you would need to spend ten times the value of the bonus, which in this case would be £1000. Any winnings you make before this requirement is met will be stored in your balance and, though you won’t be able to withdraw any of it, you can use it to play.
Some sites do allow these funds to be withdrawn before the wagering requirement is met, but usually at the expense of something else. More often than not, you will lose any of the bonuses or benefits you initially received in the offer, so depending on when you decide to end it, this might be worse than meeting the wagering requirement. Additionally, some players used to use games with a lower house edge to drive the wagering down without losing much money, mostly using casino-based games like Blackjack. It seems the providers caught on though, as now not all games contribute the same towards the wagering requirement.
Why is Wagering Becoming a Thing of the Past?
In recent years, many online casinos have popped up that have no wagering requirements whatsoever, and there are several reasons for this change. Many of these come from the owners themselves, but a big factor in the recent shift is the action of the UK Gambling Commission. This is the institution responsible for all the regulations and policies that govern gaming in the United Kingdom. It doesn’t matter if it’s online, in an arcade or even a full-blown casino, the Gambling Commission is responsible for them all. Recent changes have made it easier for no wagering casinos to exist, and this governmental aid will no doubt see more crop up.
What is a Wager-Free Casino?
A wager-free casino is an online gaming site that does the reverse of everything we’ve just covered! There aren’t any wagering requirements to meet, and you can take your winnings out whenever you want without having to put them back into the slots. They are heavily outnumbered by wagering casinos, as this is essentially an industry standard, but there are many available at the moment, that are great alternatives to the established names.
Can you still get Welcome Bonuses?
Now, considering that wagering is used in the context of welcome bonuses and other benefits casinos have, you might assume wager-free casinos would feature no instances of these tantalising offers. However, you would be wrong as there are plenty of providers that have a variety on display. One of the most common you’ll see on casino sites are 100% bonuses, which means they will match your initial deposit up to a certain figure. Obviously, if there aren’t wagering requirements, this bonus is going to be a lot friendlier to the player.
Free spins are another feature that can come with no wagering requirements. Usually, any wins you made using spins from a welcome offer or something similar would have to be wagered several times before they could be withdrawn. However, at these casinos, this would most likely be replaced with a depositing requirement which you would have to put down before you got access to the spins. This is a pretty decent compromise in our books, as you’re never left in a situation where you can’t access your winnings. Other restrictions they might have would apply to things like a maximum win, so always make sure to check the terms and conditions before playing.
Should You Play at a Wager-Free Casino?
This is all down to personal preference. As we’ve previously mentioned you can still get bonuses from a wager-free casino but, generally, these won’t be anywhere near as lucrative as the ones offered by wagering sites. While the requirements can be completely over the top sometimes, they are justified, in many cases. On top of that, most players tend to wager a lot more than they lose and payout percentages show this.
In the end, it’s up to you to decide if the chance of those bonuses paying out massively is worth the huge wagering requirements. If not, there are plenty of options on the other side.