The Indian online betting and online casino market is evolving and expanding rapidly, especially with so many Indian celebs endorsing iGaming brands on social media. With the Millenials and Gen-Z having more and more disposable income, we’re also coming up with newer ways and pastimes on which to spend that money. Online real-money gaming/ betting is one of them.
If you’re active on social media, you must have seen paid promos of gaming platforms like Parimatch, 1xBet, and Fairplay. All these iGaming and gambling platforms offer something called a casino welcome bonus or sports betting bonus. This is a deposit bonus that is given to new users when they sign up and make their first deposit. Users are expected to use this bonus money to play online casino games or bet on a variety of sporting events.
But these bonuses come with a set of terms and conditions attached to them. There is something very important called “wagering requirements” or “bonus turnover”. This is a number denoting how many times you need to wager or turn the bonus over in order to redeem it.
Turnover (also called rollover) is the number of times a bonus must be bet before it can be withdrawn. This betting requirement varies for different promotions.
For example: accepting an INR 500 bonus with a x30 turnover means you must bet INR 15,000 on eligible games before you can withdraw your winnings.
Another condition that ties up with the wagering terms is bonus validity. If the above bonus in the example is valid for 30 days, then you have 30 days to redeem the bonus. If the example bonus is valid for 7 days, then you have to wager INR 15,000 in just 7 days.
So you always have to read the terms and conditions carefully before signing up for any casino or betting bonus. Ideally, the wagering should be low and the bonus validity should be high. “30x wagering and 30 days validity” is what we call a moderate bonus.
If the wagering requirement is a higher number and the validity is for lesser days, then it’s known as a high wagering bonus. Steep wagering requirements are understandably tough to complete and if left unfulfilled, you forfeit that bonus money (plus any winnings from it) at the end of the validity period.
We’re not saying that higher wagering bonuses cannot be redeemed. They can, but not by beginner-level players. If a punter or casino player is just starting out, it is advisable that they stick to moderate to low-wagering bonuses. High wagering bonuses are best left to people who have been gambling for a while and know what they are doing.
If you’re concerned about the amount of money it will take to redeem a bonus, keep in mind that the amount you wager will ideally turn into bigger winnings. But also always remember that gambling and betting come with a risk factor and you should only bet what you can afford to lose. Always practice responsible gambling when playing on these online platforms.