In an ideal world, sportsbooks and casinos would just throw money at us and let us play to our heart’s content. But luckily life teaches us from a young age “there are no free lunches” and most freebies come with at least some strings attached. The Free Bets and Bonuses given to you at online betting sites in South Africa are no different.
The Bright Side of Bonuses
But don’t stress, it’s not all bad news! Bonuses are a great way to win money from online betting as long as you know how to get the most out of them. In this guide, you’ll learn what wagering requirements are for online betting, how they work in South Africa and how to meet the criteria for withdrawing your bonus winnings.
What are Wagering Requirements?
Also known as rollover or playthrough, wagering requirements refer to the amount of money you must bet before withdrawing any associated winnings from your bonus. Completing the wagering requirements of any bonus will turn your play-play money into real money so you can withdraw the cash and enjoy spending it!
Why Do Betting Sites Have Wagering Requirements?
The reason why online betting sites attach wagering requirements to bonuses they give to players is two-fold. Firstly, it’s to comply with South Africa’s FICA and anti-money laundering laws. If betting sites didn’t have any wagering requirements, it would be too easy for criminals to clean illegitimate funds by depositing and withdrawing straight away. The second reason is to make it a bit more difficult for players to profit from free money. It costs bookies money to offer you a bonus, so it makes sense that it’s harder to win from a bonus compared to playing with real cash!
How do Wagering Requirements Work?
Wagering requirements vary for each type of betting bonus. With a Sports Bonus, you must always place bets of a certain multiple, e.g. 3x before making a withdrawal. Betting at minimum odds is usually required to meet the wagering requirements for a withdrawal. In some cases, specific Sport betting markets might also be off-limits and not counted towards wagering a Sports Bonus.
On the other hand, Casino Bonuses usually don’t require you to bet at specific odds but the percentage contribution towards wagering requirements of various games might differ from one to the next. For example, your bets on slots might count 100% towards wagering your Casino Bonus, but Live Games only 25%.
Since Free Spins aren’t allocated a cash amount, a multiplier is often used to measure wagering requirements. This applies only to the winnings you receive from the Free Spins. For example, a bookie might require that winnings from Free Spins be wagered at least 30x before players can request a withdrawal.
Regardless of the wagering requirements, players often need to deposit a certain amount before they can withdraw the bonus or any associated winnings.
Wagering Requirements Examples
Betway South Africa
- Sports Bonus: As a new customer, you are eligible for the Betway Sports Bonus equal to 100% of your First Deposit up to R1000. To get the bonus, you must place sports bets equal to 3x your First Deposit amount at odds of 2/1 (3.00) or greater. After meeting these wagering requirements, your Deposit Bonus will be credited to your Betway account.
Casino Bonus: As a new customer, you are eligible for the Betway Casino Bonus equal to 100% of your First Deposit up to R2000. Your bonus must be wagered at least 30x on Casino Games.For Casino Games, the contributing percentages are as follows:
- Slots: 100%
- Sic Bo: 50%
- Baccarat: 10%
- Craps: 10%
- Roulette: 2%
- Blackjack: 10%
- Poker: 50%
- Game Shows: 2%
Click here to claim the Betway Welcome Bonus of up to R2000!
Calculating Your Wagering Requirements
You can calculate your wagering requirements fairly easily by using this formula:
(Bonus Amount) X (Wagering Requirement) = Total Bet Amount
What Happens If You Don’t Meet Wagering Requirements?
If you fail to meet the wagering requirements, your bonus will either be removed from your account or the funds will never be converted from bonus money into withdrawable cash. In other words, meeting the wagering requirements of an online betting bonus is crucial for the chance to withdraw your winnings!
Other Wagering Requirements T&Cs
When we talk about online betting bonus wagering requirements, we usually refer to the number of times we need to rollover or playthrough a bonus but these are also often tied to other terms and conditions such as:
- Only Winnings Paid: When you bet with real money and win, you receive both your stake and winnings in return. But if you bet with bonus money or a Sports Free Bet, you only receive your winnings. So if you bet R100 on odds of 2.00, you’ll get R100 as the total payout as your winnings do not include the Free Bet stake.
- Minimum Odds: Some bonuses – mostly Free Bets – have minimum odds requirements, e.g. 1.80 for bets to count towards the wagering requirements. Bets placed under this threshold will not count towards wagering and therefore not get players any closer to making a withdrawal.
- Time Limit: Most Welcome Offers have an expiry date of 7-30 days. If the wagering requirements aren’t met within this timeframe, the bonus is usually forfeited, i.e. removed from your account.
Are Wagering Requirements Avoidable?
There aren’t any online betting bonuses that we know of in South Africa with no wagering requirements. But now that you’re more aware of how they work and what to do, we suggest embracing them with open arms!
If you don’t want the hassle of wagering requirements, you can always contact customer support and ask for any bonus to be removed from your account. Just be sure not to place any bets beforehand. However, we don’t recommend this because a bonus gives you more chances to win. So we say, go for it and best of luck!
Best Free Bets and Welcome Bonuses in South Africa
Online betting sites in South Africa have a comprehensive selection of Deposit Bonuses and Free Bets you can claim in a few easy steps. To find out more, read this article on the various types of offers available in South Africa and how they work.