The thrill-inducing moment one gets from placing a small wager with the potential for it to grow into something more is tempting, to say the least.
It’s the thought of the unknown and ‘what if’ that excites. The risk can be calculated – (analyzing the game and the competitors; favorites, undercards, wildcards, etc) – and not so calculated (random). But ultimately, unless you have a crystal ball, you’ll never know the outcome for sure until it’s happened.
If you’re new to the game, then placing wagers and deciding on the amount to place can be quite daunting and the choices overwhelming. To help ease this process, here are eight useful tips you NEED to know before placing wagers.
But before we get to the techy side of things, the first and perhaps the most important thing to know is to have fun.
#1 Have fun, otherwise, what’s the point?
Your financial well being should be at the forefront of your mind before placing a bet. Ask yourself if you can spare a few dollars or pounds to make a wager in the first place. You should never be in a position where you feel pressured into placing a bet either due to peer pressure or lack of finances as the risks are far greater. It’s your well being at stake here.
Aside from that, nowadays, sports betting sites and online casinos follow stringent regulations and guidelines ensuring that the well-being of a customer is made a priority. Many have also taken a proactive approach in ensuring this, setting up responsible gaming initiatives such as Mates look after Mates by PaddyPower, which details the tell-tale signs of gambling addiction to help nip it in the bud as soon as it arises.
#2 Always see the wagering requirement of the bonus
When trying to benefit from a promotion it is always best to see what the wagering requirement is of that offer/bonus. This varies depending on the website as well as the vertical you are playing on, i.e sportsbook or casino (slots).
#3 What is a wagering requirement?
This refers to the total number of times you have to play through a bonus before you are able to withdraw any winnings from it. Say, for example, you’ve placed a $20 deposit on a machine or game that has a wagering requirement of ×30 and have in turn received $20 as a bonus. In order for you to actually unlock or withdraw this bonus or any subsequent winnings, you need to place bets of up to 30 times ($600 overall) the amount you received as your bonus.
#4 How is it Calculated?
It’s generally calculated by having the wage requirement and multiplying it with the bonus. So, a wagering requirement of ×40 (most online casinos) and a bonus of $30 would look like 40×30=$1,200.
Now that you have a better understanding of what a wagering requirement is and how it is calculated, it’s important to take note of the following factors before placing a bet.
#5 Not all sports betting sites and online casinos follow the same terms and conditions
Different sports betting websites and online casinos will have differing conditions for their wagering requirement so be sure to do your research beforehand. For example, popular mobile gaming and betting giant, LeoVegas have a wagering requirement of x40 for their online casino. Whereas some of their other games have a requirement of x70.
Furthermore, depending on the company, it is sometimes referred to as playthrough requirements, rollover requirements, or even wagering obligations but bear in mind these all mean the same thing.
#6 Some companies allow for use of phone bill to place bets
For those still unsure about placing cash on a wager, there is a faster and simpler method. Nowadays, there are many top betting companies where you can simply add cash and bet using phone bill credit. Although relatively new, this method is growing in popularity due to its simplicity and effectiveness with more and more iGaming companies taking note.
#7 Newcomers: Look for top-rated games or slots containing jackpots
Another tip for when you get started would be to just take a look at the top-rated games, they’re popular for a reason! It’s usually slot games as they are pretty straightforward to wrap your head around and attract a healthy number of returns (winners). Book of Dead for example is a hugely popular, fun game.
Another good word of advice is to play games connected to a jackpot. Although highly unlikely to win, some jackpots go for millions of dollars so you might as well give it a go.
#8 Play safe, bet wisely!
Furthermore, for newcomers, you need to be smart about how much you bet as well as the amount you bet in relation to what the wagering requirement is. This is to say, for example, if you have a wagering requirement of x100 after placing a $50 deposit, you will receive a bonus of $50.
Now, you can of course place two bets of $50 thus reaching your 100 wagering requirement. However, this is risky as your chances of getting any returns are slim. Instead of placing two bets of $50 each, a wiser option would be to place small bets to test the waters and see how your luck is turning out. It is better to bet and lose five times on a $1wage than to bet twice at $50 each. It’s usually because they attract a healthy number of returns and are quite simple to get your head wrapped around them.
It’s not worth getting into if you aren’t going to enjoy it. Make sure you are financially secure enough that you can afford to pay what is essentially a calculated game of risk. To increase your odds, study the game, that goes for the sport as well as the iGaming company in question.
See what their terms and conditions are regarding bonus offers and wagering requirements. What vertical are you playing on? Is it Sportsbook, Bingo, Poker, or Online Casino (slots)? Remember, some companies offer a higher wage requirement than others, whilst they may also differ from one vertical to the next.
Lastly, remember that there are also some sites/apps that will allow you to deposit money and bet by simply using your phone bill on your smartphone, saving you time and hassle. So play safe, bet wisely, and enjoy!