At Spin247, there are wagering requirements that apply to any bonus credit you receive from us. This is something that most online casinos have in place, but it can sometimes be difficult to understand. With that in mind, we’ve put together a guide to Spin247’s wagering requirements to make everything clear and straightforward.
What are Wagering Requirements?
If a bonus has wagering requirements, that means it must be played through (or wagered) a certain number of times before you can withdraw any winnings generated from it.
That is why wagering requirements are never a set amount of money. Instead, they will be a multiplier of the bonus you receive. At Spin247, the wagering requirement on bonus credit is 40x.
This 40x wagering requirement applies ONLY to bonus credit and winnings from free spins. That means it does not apply to any deposits you make using your own money. Deposits are subject to a separate 1x wagering requirement, but you can withdraw any unspent deposits at any time.
How do Wagering Requirements Work?
Before we talk more about wagering requirements, we need to look at the difference between ‘Cashable Credit’ and ‘Bonus Credit’. Credit in your account is split between these two types of credit.
|Cashable Credit||Bonus Credit|
|When you make a deposit, it will go into your cashable credit. This has a 1x wagering requirement. When bonus credit has passed its wagering requirement, it will be transferred into cashable credit.||Your bonus credit consists of any bonuses received from Spin247. This includes winnings from free spins, and any deposit match bonuses you receive when you join. Bonus credit has a 40x wagering requirement.|
You are free to withdraw any cashable credit that has passed its 1x wagering requirement. However, it’s important to remember that if you choose to do so, you may forfeit the equivalent proportion of bonus credit. Let’s see how this works, step by step with an example scenario:
- You make a $50 deposit and receive 200% deposit match, equalling $100 . The $50 deposit will go into your cashable credit, with a 1x wagering requirement. The $100 deposit match bonus goes into your bonus credit and has a 40x wagering requirement.
- If you played through your $50 deposit and had $200 winnings, you could withdraw this before meeting the 40x wagering requirement on your deposit match bonus. However, you would forfeit the $100 deposit match bonus credit.
- If you decided to withdraw only half of your $200 win, that would be OK too. In that case, you would only forfeit the same proportion (50%) of your bonus. So in this case, that would be $50 . This works the same with whatever proportion of your winnings you decide to withdraw.
- The bonus that has been forfeited will stay attached to your withdrawal. So if you reverse the withdrawal, your cashable credit will return to your account, and the bonus you forfeited will be returned to your bonus credit.
Which Games Count Towards Wagering Requirements?
Playing any Spin247 slots game counts 100% towards your 40x wagering requirement. That means that if you wagered $25 for example, then $25 would be removed from the wagering requirement remaining on your bonus.
How does Wagering Apply to Free Spins?
Whenever you receive free spins from Spin247, either as part of your welcome package or as an existing player bonus, the winnings from those free spins will have a 40x wagering requirement. This is because those winnings are classed as bonus credit.
Let’s use our no deposit welcome bonus as an example. When you first join Spin247 and verify your account, you’ll receive up to 100 free spins. In this scenario, after playing through your free spins, you have winnings of $100 . That $100 goes into your bonus credit and needs to be wagered 40x before you can withdraw any associated winnings.
*All information correct at the time of writing. All bonuses referenced are subject to Spin247 general terms and conditions.