Just like any other sector, the gambling world comes with its own peculiar terms, rules and regulations, as well as customs. These have evolved over time and are either set in stone or change according to popular sentiment.
A term that’s often employed in reference to gambling in an online casino and occasionally in a land-based casino is the Wagering Requirement. The Wagering Requirement despite the high-sounding name is a simple concept that is mostly aimed at preventing customers from taking casinos for a ride.
To put it simply, it refers to the amount of Minimum Wagering Requirement that players are required to gamble and widely varies depending on the casino at which it is enforced or the bookmaker that happens to be offering the particular bet. Usually, small gambling houses lacking the more extensive resources of their bigger brethren have a more rigorous Wagering Requirement.
All About The Minimum Wagering Requirement
There are a bewildering array of games covering every sector, sports and theme offered by both bookies and casinos that gamblers looking for thrills can bet on for the chance of getting romanced by Lady Luck! Every one of these casinos and bookies has a strict Wagering Requirement. This varies from one bookie or casino to the other, as well as the exact event or sport that is being bet on or the game that is to be played.
As an example, in live horse racing, the vast majority of bookies you will meet at the racetrack will only accept bets that start out at ₤5. This, therefore, means that their Minimum Wagering Requirement is set at ₤5.
On the other hand, a high street bookmaker might be prepared to accept bets of ₤0.50 or even lower, with that amount, of course, being his/her Minimum Wagering Requirement. From this, one can infer that the size of the Wagering Requirement is directly proportional to the size and extent of resources held by the bookie or organization offering it.
Thus, a small bookie with a small business will be forced to put out a high Wagering Requirement so as to make ends meet. A big casino or betting organization, on the other hand, has lots of resources and can easily get away with undercutting the small bookie by offering lower Wagering Requirement than the bookie can, without feeling his/her pocket pinching madly.
Another example has to do with the casino game of blackjack. On entry into a casino anywhere on the globe, you are likely to see multiple blackjack tables, with these having signs that show the minimum bet for each particular table. For most casinos, this minimum is usually set at ₤2.
However, a high-end casino might set the minimum bet at the blackjack tables at ₤5, as a means of weeding out the less affluent, who might be coming to have a taste of their premium services. There are also tables with minimum bets of ₤10, ₤25 and up to ₤50, with these of course offering the most exclusive services for the sinfully well-heeled.
And that’s all about Minimum Wagering Requirement for today, folks!