Bonuses are a way for online casinos to get new players and keep the current ones interested. The bonus money cannot be taken home, though. It has to be spent in the casino. Only the winnings from wagering the bonus money can be withdrawn. Before it can happen, wagering requirements need to be met.
There are some fine print conditions regarding wagering requirements. Maximum bet is one of them. You cannot wager more than the set upper limit, for example $6 per spin in a slot machine, otherwise both your winnings are voided and the wagering requirement won’t get any smaller. There’s logic behind these conditions.
For example, with a 100% deposit bonus, a player deposits $100 and receives a $100 bonus. The wagering requirements say they need to wager 15x the deposit and the bonus, which means $3,000. Without a maximum bet limit, it could be achieved in 15 spins with $200 per spin. With a limit of $6 per spin, at least 500 spins are necessary.
What’s the difference between 15 and 500 spins? The average return to the player in online slots is about 95% – for every $100 wagered the player loses $5 in the long run, while in a short span they can win a lot and not lose at all. Thanks to maximum bet limits, the players go from short-term to long-term wagering, which is much more likely to be beneficial to the casino.