Traditional wagering has been present for decades, but the evolution of the internet directed bettors to online bookmakers.To indulge in betting, you need to know the basics of wagering and to understand how it works, and we will help you with that task.
Definition, elements, and basic types of wagers
The wager represents a certain amount of money you enter into a sports match, slot machine spins, one poker hand, one roulette spin, and other games. Basic elements of wagers are:
- Selection – implies your opinion on the outcome of the game.
- Stake – represents the money you pay to the bookmaker at the time of placing the bet.
- Odds – shows how much the bookmaker will have to pay you if you give an accurate forecast of the match results.
The main difference between online and classic betting is in the way you place your wager. Classic sports betting means walking to the bookmaker or calling the bookmaker by phone, while online betting takes place on the internet and casino sites. You can read more about the tradition and development of online betting at evolution of online casino.
Beginners in online betting are often very surprised by the large selection of bets offered by bookmakers. Some of the basic ones are Moneyline (win bet), double chance (two of three possible outcomes), accumulator (include as many choices as possible in one stake), total or under / over, and many others. Wagers can be placed on popular sports like basketball and tennis, but also on competitions such as the Winter Olympics.
Once you have chosen the desired online casino where you will place a wager, registration is required to earn real money. After creating an account, you will come across several bonuses and promotions.
Some of them include free bets, free slots, welcome bonuses, cash bonuses, and others. Free bet offers should represent a certain amount of money that you can use for free to place wagers.
Some bookmakers will require you to enter a promo code or verify your account before receiving free bets.
Others will place give bets after placing and calculating the first bet. You can get free bets as part of the welcome offer too. It is usually credited to your account after you register for the account and place your first deposit in the minimum amount bet. If you still don’t know on which event to place wagers, you can get informed about upcoming matches here.
Wagering Requirement and Welcome Bonuses
The usual welcome offer is 100% additional funds for certain deposits. If you deposit $100, the casino will give you an additional $100. However, there are limitations: the casino will not allow you to just take money, you have to bet. This is where the famous wagering requirements appear.
Almost all casino welcome bonuses have what is known as betting requirements. For example, the bonus wagering requirement can be x10 the bonus amount. This means that you have to multiply the amount you get as extra money by 10. If you receive a bonus of $100, you have to multiply $100 by 10. Simplified, you have to invest $1000 before withdrawing the winnings.
Where to find wagering requirements?
Each casino bookmaker must display the terms and conditions. Whether it’s free spins or another bonus, the terms must be available to the user. Always read the small print of promotions and bonuses. In case you cannot find the terms and conditions, contact the casino customer support.
The bonuses of these casinos come with fewer requirements. Basically, some casino platforms offer wager-free bonuses. Bonuses are calculated without having to play the game a certain number of times. They are given to beginners, but also to the experienced gamblers as a reward for their loyalty. However, no wagering casino offers usually don’t include large sums of money.
No-Wager includes the following:
- Wager-free deposit bonuses,
- Wager-free spins.
Casinos, where no-wager bonuses are available to new customers, may have a certain catch. Players will be required to deposit before the withdrawal.
Choose the right casino to set up wagers
When choosing an online casino, pay attention to several things. Make sure it is licensed. Having a prestigious license means that your wagers will be safe and secure. You can also check out populaire casino websites. See the games section, what bonuses are offered. Of course, check the bonus requirements. Read the reviews of some more experienced players who can help you make the final decision.