What is a wagering requirement, and how does it affect your ability to withdraw bonus-related winnings?

Wagering requirements are the conditions you must meet before withdrawing bonus winnings. For example, a 30x requirement on a $10 bonus means betting $300 before cashing out. At first, this confused me, but lunubet.net explained it clearly with examples. Now I always read the fine print so I know what I’m committing to before claiming any offer.