The UK online casino market is highly competitive, with casinos constantly vying for players’ attention and loyalty. One critical aspect that can be a deal-breaker for many British players is the wagering requirements the casinos attach to their bonuses, but how important is this actually in terms of FTDs and retention?
We sat down with Christoffer Ødegården, the Head of Marketing at the award-winning UK iGaming comparison site Bojoko.com, to see what their data indicates. In this interview, Ødegården explains what casinos can “get away with” regarding these requirements and the benefits of offering low versus high wagering requirements.
The importance of wagering requirements
“Wagering requirements are a fundamental factor in the attractiveness of any casino bonus,” Ødegården begins. “They essentially dictate how realistic it is for players to actually benefit from a bonus. If the requirements are excessively high, many players quickly lose interest because it feels unattainable. In my view, it is very noticeable that many casinos underestimate just how aware British players are of the wagering requirements and how they work.”
He emphasises the key to understanding the balance between enticing players and maintaining casino profitability: “It’s a delicate balance. Casinos need to ensure their bonuses are appealing but also manageable from a business perspective. However, high wagering requirements can only go so far and will hurt your bottom line long-term as you will struggle with retention. If your wagering requirement is high, more knowledgeable players will simply look elsewhere, while the less experienced players that do sign up are less likely to stay.”
Low vs. high wagering requirements
“Low wagering requirements are undeniably attractive. They give players a real chance to win and withdraw their winnings, which boosts their overall experience and satisfaction. However, from the casino’s standpoint, low requirements can be risky. They need to find a sweet spot where players are happy, but the casino isn’t losing money. It’s about sustainability.”, Ødegården says.
He also adds that low wagering requirements can actually be used as a promotional tool. “British players are actively looking for casinos with low wagering requirements, and there are opportunities to increase your conversion rate with them.”
Ødegården highlights Bojoko’s page for low-wagering casino bonus offers available for UK players, explaining, “Brits searching for these offers, go to affiliate sites like Bojoko, and sign up to the casinos with the best deals from pages just like this one. Here, they can see the wagering requirements, as well as the other terms and make quick, informed decisions.”
He further explains that higher wagering requirements push players away long-term, while low wagering requirements can be part of a very successful retention strategy.
What casinos can ‘get away with’
When asked about what casinos can “get away with” in terms of wagering requirements, Ødegården offers a candid perspective. “UK players are savvy and well-informed. It is been the biggest iGaming market in the world for a long time, and British gamblers tend to have multiple accounts. They know what is out there, and you have to expect them to be able to spot a bad deal from a mile away. Casinos that try to impose overly strict requirements often see a drop in player interest.”
“If your question is about how high a casino can set their wagering requirements and still be fairly successful I’d say 50 is beginning to really stretch it, and those with wagering requirements of 60 or more will really struggle long term. However, I don’t think casinos should focus on what they can just get away with, but how they can thrive while making players happy”, Ødegården says.
He explains that the average in the industry is around 30-40, and there are benefits to offering lower wagering requirements that can be more beneficial down the line.
Ways to decrease the risks from low-wagering bonuses
Ødegården says casinos can take a few easy steps to manage risk while still offering appealing bonuses to players. He highlights three key approaches: max wins, max bets, and lower bonus offers.
“One effective way to manage risk is by setting maximum win limits on bonuses,” Ødegården explains. “This means that even if a player hits a big win while using their bonus, there’s a cap on how much they can cash out. It’s a fair compromise. Players are aware of the limits upfront, which maintains transparency. They still get the thrill of playing with a bonus, but casinos have a safeguard in place to prevent substantial financial loss.”
Another strategy Ødegården highlights is setting lower maximum bet limits when playing with bonus funds. “Max bet limits ensure that players don’t blow through their bonuses too quickly with high-stake bets. It also prevents them from using aggressive betting strategies to meet wagering requirements.”
Ødegården also highlights the benefits of offering lower bonus amounts. “Offering smaller bonuses with more favourable terms can be a win-win situation. Players appreciate bonuses that they have a realistic chance of benefiting from, even if the amounts are lower.”
We heard something very similar when speaking with Bojoko’s CEO, Joonas Karhu, a few months ago, when speaking about the bonuses that attract players, and we asked Ødegården if this is a general rule that their data has uncovered.
“Yes, that is correct. Our data shows that bonuses with better terms are more attractive, even when the bonus itself is smaller. We see this for instance when comparing a bonus of 100% up to £1,000 with a bonus of 200% up to £100. The latter will perform better.”
Building long-term relationships
Ødegården underscores the importance of looking beyond immediate bonuses. “Loyalty is often assumed or ignored by many new casinos, and this can be a fatal flaw. Offering bonuses that get players excited, such as low-wagering bonuses, is a great way to increase retention. Casinos should look to loyalty programs and ongoing promotions to give players a reason to stick around.”
He adds, “A successful casino needs to foster long-term relationships. Fair wagering requirements are just one part of this. Regular bonuses, cashback offers, and transparent communication all contribute to a player’s overall experience.”
