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What is" a wager" for bonuses in Canadian online casinos

What is" a wager" for bonuses in Canadian online casinosWe will start this article with the essential thought that you should have when you start playing at an online casino – there is no online casino that works for the interests of its players, all that business owners want is to make a lot of money. What is “wagering”? This word is mostly used in gambling and it means “betting.”

In this article, we will talk about bonus wagering at Canadian online casinos. You also need to know that all of the bonuses given by the online casino are a way to attract new players to their online house. All of the “gifts” that casinos provide have rules, that’s why we recommend reading the terms and conditions (T&C) before saying yes to a bonus offer. A lot of the new players do not understand why they cannot withdraw their money before they fulfill the wagering requirements. Keep reading the article, and you will get familiar with the tricks that online casinos use when giving free bonuses.

What does online casino bonus wagering mean?

Let’s imagine that casinos offer a 100% bonus of up to 100CAD with wagering requirements of x40 or x50. You deposit 100CAD, and the casino puts 100CAD in your account (for free), thus in total, you will have 200CAD. If the casino rules require x40 wagering requirements, it means that you need to bet x40 ( from the " free money"). In this case, you will have to wager 4000CAD (100 x 40 = 4000).

Moreover, you will not be able to withdraw your money before all of the wagering requirements are fulfilled. There are also some restrictions that the punter must follow - the max bet per spin or slots that are forbidden when playing with bonus money. Remember, that if you break the rules, the casino can easily refuse your cashouts, that’s why it’s important to read the bonus's or T&C

Best online casinos in Canada

LogoName
(overview)
BonusPlay for real
Fastpay casino
Fastpay 150CAD
100%
Play for real
instantpay logo small
Instantpay 150CAD
100%
Play for real
Casumo
Casumo 500CAD
100%
Play for real
Joy
Joycasino up to 2000CAD
100%
Play for real
1xSlots casino
1xSlots 450€
100%
Play for real
BitStarz casino
BitStarz 400CAD
110%
Play for real
Riobet casino
Riobet 750CAD
100%
Play for real
Play Fortuna casino
Play Fortuna 750CAD
100%
Play for real
Booi
Booi 450CAD
200%
Play for real

Why are wagering requirements so big?

Wagering calculationMany years ago, when online casinos weren’t so popular, the wagering requirements were a lot lower. Nowadays, there are many bonus hunters that play in casinos using bonuses (they do not play if there isn't a bonus), and they actually make good money. That’s why casinos decided to make some decisions to stop players from winning so often, and what would the best move be? Of course, they made the decision to make the wagering requirements higher. 

Tips, Features and varieties

Next, we will describe a few types of wagering requirements

Cashing out the bonus money

In the most trusted Canadian online casinos (like Fastpay), you cannot cash out before you fulfill the bonus wagering requirements. Now, we will highlight the attitude of different casinos about bonus money:

  • 95% of the Canadian online casinos allow you to withdraw your money without any restrictions. Sadly, there are several gambling sites that will only let you cash out about 10%-20% of the bonus money they offered. During 2020, a new model of bonus wagering has become more and more popular; some Canadian online casinos do not allow you to withdrawals your bonus money at all; you can just play with them for free in the casino. 
  • There are still some Microgaming casinos (that have only Microgaming games), they only use bonuses for advertising. It means that you will still need to fulfil wager requirements but you will not be able to cash out bonus money (if you win) from the casino.
  • Casinos that only support Playtech software offer bonus money. After the wagering requirements are fulfilled, you will be able to withdrawal the money won without the bonus given by the casino.

Terms and conditions of the bonus

We strongly recommend you read the terms and conditions of the bonus before taking it. This is extremely important, here's an example of why: you can see that the casino gives x30 wager requirements, but when you take the bonus, you understand that these x30 are for the bonus + deposit money, so in total, you have x60 wagering requirements.

Can I win at Canadian online casinos using bonuses?

Many people don’t believe that you can win when playing with bonuses, but we can prove the opposite. If the bonus wager requirements are x40 or less and you select a slot with an RTP (return to player percentage) of 97% or higher, then you can get a positive mathematical expectation of winning at the casino. You can find more detailed information by reading the following link:

Bonus hunters

Many people live with the money won at Canadian online casinos with the help of bonuses. Moreover, gambling sites make the wagering requirements higher, this is mainly because of professional bonus hunters. The concept of what we described above is the same.

Restrictions when wagering

Maximum bet:

All of the modern Canadian online casinos add a little sum to the usual maximum stake (this is 10-20 CAD in most cases). We all know that casinos win when the player spins for a long time; that's why restricting the max bet, makes you play longer.

Games:

Are you wondering why casinos restrict several games when playing with bonus money, is it because you can just simply win money from these games? Most of the time, casinos limit live table games such as roulette, blackjack, baccarat, etc., another thing they might do is counting 10% of the bets you made while gambling with bonus money. Why are most of the slots allowed? Because most of them have a negative mathematical expectation for players. Even if 10 punters win, another 100 will lose. To be honest, the situation in casinos is similar, but we have completely forgotten the article's actual subject so let's get back to it. Before we do that, I just want to say that there are still some good slots, but of course, a lot of gambling sites restrict them from the bonus money wagering requirements. Some of these slots are The Dark Knight Rises, Scrooge, Secret of the Stones, Devil's Delight, Robin Hood, Tomb Raider 2, Blood Suckers, Kings of Chicago, Jackpot 6000, Mega Joker and many other slot machines.

Are bonuses profitable for Canadian online casinos?

Let’s just imagine that the casino has x45 wager requirements; this is a standard percentage. So, you get 100% which is up to 100CAD of your bonus with x45, this means that you need to make bets of at least 4500CAD before requesting a withdrawal. We also need to consider the average RTP (return to player percentage) of casino games – 97.5%. The calculations should be: multiply 4500 by 2.5%, and the real profit of the casino will be 112.5. So, even if they give you 100CAD, which is “free” money, they still win 12.5 CAD for each player who takes the bonus. 

Let's say, for example, a casino has x40 wagering requirements, then the percentage should be zero. But as we said above, all of the bonuses get used to“hook” new players and get them to start using their gambling site.

If a player sees wagering requirements of x30 it means that the casino works at a loss in total, but all of this gets used to attract new players. Again, all of this attracts new players, all of these punters end up losing a large amount of money in the future. 

Wagering for free spins, cashback and other bonuses

Free spins

This is the most common free bonus given by a big amount of casinos. A lot of very big casinos offer free spins as an extra bonus that comes with the welcome package. You need to know that free spins also have wagering requirements. Every casino has its own requirements; it can vary from x10 up to x60. It is Rare, but some online casinos give free spins without wagering requirements.

Cashback

CashbackMany online casinos especially the big ones are offering Cashback to players that lost money for the last week. Mostly the money that is given back varies between 10%-20%. To be honest, many players prefer this bonus that any other.

The no deposit bonuses

This is another trap for players. Some casinos give free cash, but the wagering requirements for such bonuses are usually pretty high - x50 to x60. Yes, you will get your free money, but withdrawing will not be an easy task. Just to make it clear, bonuses are not made to push the punter into making more deposits. 

Re-deposit bonuses

90% of the best casinos in Canada offer a chance to double your 2nd, 3rd, 4th, and even 5th deposit! The common wagering requirements for these bonuses are x40 – x50. 

Most common traps

Bonus trapsJust imagine seeing a bonus offer that says: "deposit in our casino, and you will get 100% of the bonus money which can be up to 500CAD with x30 wagering requirements". It looks very attractive, but when you deposit money, you realize that the wagering requirements aren't actually x30, but they are x60, why is that? The answer to this question is that a lot of casinos make wagering requirements for bonuses + deposits, so x30 + x30 = x60. That's why it's essential to read the terms and conditions before getting a bonus. 

The best Canadian online casinos (such as Fastpay) won't hide any information according to the bonus requirements. The requirements will be on the page where you saw the bonus offer, I recommend you pay attention to such things as they can save you a lot of nerves. 

So, let's conclude, is it profitable to take bonuses? 

If you read the entire article, you would have understood that our position isn't very positive about bonuses. Anyway, there are also pluses in taking bonuses, for example, if you play on small bets for a long time, then we highly recommend you to take the bonus. But if you are a high-roller or if you play on average bets, then all that bonuses do is put restrictions on the bet and the time you spend in the casino. Remember – Read the Terms and Conditions before taking any kinds of Bonuses at Canadian Online Casino!!!

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