As online casino players, one of the frustrations you may have suffered is wagering requirements. We all know they are there, and we all know they have to be met before we can withdraw winnings but that doesn’t make them any less frustrating.
bgo Casino have recently announced that there are to be some major changes at their site to be implemented on 15th October 2017. These amendments are game changers in our opinion.
Bonus funds will no longer have to be wagered before players can withdraw from bgo as of the date above!
The news is that from 15th October 2017 any bonuses given by bgo Casino, or its sister site Powerspins, will be awarded as real cash or free spins that are ‘wager-less’.
This will be, to the best of our knowledge, the first online casino to take such a bold step. This will be a change that will put the brand in a really good position to attract players and a move that may incite an overhaul of the bonus deals available in the whole gambling landscape.
Wagering conditions on bonuses restrict players from cashing out winnings until they have met the terms of the offer. The wagering requirements vary from casino to casino but can be as much as 60x the amount of deposit + bonus. On average though, they are more like 35x the deposit + bonus.
This means, using the current bgo Casino offer as an example, a player who makes an initial deposit of just £10 will receive a 200% bonus (£20). On the current T&Cs of the site, this would mean that a player would need to wager £1,500 before being eligible to withdraw ( x50 wagering x deposit + bonus (£30) ).
The CFO of bgo Entertainment, Hanna Westley, explained that it has been felt for a while now that the online gaming market is ‘over-bonusing’. She goes on to say
It used to be that a player was offered a 100% match bonus with a 20x wagering requirement.
If you look at the offers we see today from various operators, these are much larger and include no deposit bonuses, free spins but with higher wagering requirements, less contributory games and max bet limits.
She attributes the lack of player loyalty to a brand to bonus cash and their T&C’s and the consumers resentment of them.
It will be interesting to see how the change at bgo impacts on their revenue and whether it invites an increase in player numbers and deposits.