Why do they exist?
Wagering Requirements exist to help stop bonus abuse. This is a problem very specific to the online casino industry. It is often the case that players (who don’t really enjoy playing) claim bonuses for the sake of making easy money.
It must be remembered that Online Casinos offer a service. They want players who are serious about finding an online casino, and who want to make a deposit. They aren’t a charity, they don’t want to be handing out cash to anyone and everyone.
Their trick to get around Bonus Abuse was to introduce Wagering Requirements. This allowed them to offer No Deposit Bonuses to prospective players, but with less risk of falling victim to Bonus Abuse. Both camps were happy with this compromise: winning is more difficult, but still possible – and the experience is just as authentic as playing with your own money.