Wagering requirements with bonus codes exist to protect casinos from what is known as bonus abuse. Without them, people could simply join the venue, collect on an offer and then cash out huge winnings if they are lucky enough. It is important to have wagering explained in order to understand what truly must be done to cash out.
Sometimes referred to as 'play-through requirements', these are essentially a set of rules that dictates how much money a gambler must spend outside of the bonus in order to withdraw any winnings. This makes it impossible for anyone to cash out a bonus as soon as it is collected.
As an example, assume that a player has taken advantage of a $100 no deposit bonus from a casino. Next, imagine that this venue has imposed a 20x wagering requirement with bonus codes that it offers. This means that the player will need to spend 20 times the $100, or $2000, before he or she can withdraw either the bonus that was earned or any of the winnings that were earned with that bonus.
In most cases, all of this information can be found in the terms and conditions that are associated with each individual promotional offer. However, in others, the venue may have the same set of rules for every single promotion it offers. This differs from site to site and players should be very careful to review all of the terms carefully before entering any code.
Finally, it is important to note that some venues will assign percentages to some of their games that reflects the maximum amount of money that can come from those games to clear the requirements. For instance, if blackjack is limited to 50%, then only $50 out of every $100 will go toward clearing out the bonus cash or winnings. It is also important to understand the differences between cashable and sticky bonuses; cashable bonuses are released after some time while sticky bonuses 'roll off' once they have been used up.