Wagering Requirements Explained: Casino Bonus Maths (2026)
The short answer
A wagering requirement is the total amount you must bet before bonus money (and often your deposit) can be withdrawn. Your expected cost of clearing it is roughly the total wagering multiplied by the house edge of the games you play. If that expected cost is bigger than the bonus, the bonus is worth less than nothing on average.
Everything below uses round, made-up numbers so the maths is easy to follow. They are examples, not offers. Offers we have actually checked are on our bonus codes page.
What does “40x wagering” actually mean?
It means you must place bets totalling 40 times a base amount. The key question is: 40 times what? Terms use two common bases:
- Bonus only: 40 x the bonus amount.
- Deposit plus bonus: 40 x (your deposit + the bonus).
The difference is large. Take a deposit of 100 with a 100% match, so you get a bonus of 100 and a balance of 200.
| Terms | Calculation | Total you must wager |
|---|---|---|
| 40x the bonus | 40 x 100 | 4,000 |
| 40x deposit + bonus | 40 x 200 | 8,000 |
Same headline, double the work. Always find the base in the terms.
The core formula: expected loss = wagering x house edge
The house edge is the average loss as a share of each bet. A slot with 96% RTP has a 4% house edge. If you bet a total of 4,000 on that slot, your expected loss is:
4,000 x 0.04 = 160
Now compare that with the bonus:
| Example | Bonus | Wagering | Edge | Expected loss | Bonus minus expected loss |
|---|---|---|---|---|---|
| A: 40x the bonus on a 96% slot | 100 | 4,000 | 4% | 160 | -60 |
| B: 40x deposit + bonus, same slot | 100 | 8,000 | 4% | 320 | -220 |
| C: 20x the bonus on a 96% slot | 100 | 2,000 | 4% | 80 | +20 |
| D: 40x the bonus on a 98% slot | 100 | 4,000 | 2% | 80 | +20 |
Two things jump out. First, the multiple and the base matter more than the bonus size. Second, the RTP of the game you play changes the result a lot, which is why bonus terms often limit which games count.
Why this is an approximation
The formula assumes you complete all the wagering. In practice many players bust before finishing, and your loss can never exceed your balance. Variance also means some players finish well ahead and most finish behind. So treat “wagering x house edge” as the average cost, which is the right number for comparing offers, not as a prediction for one session.
Game weighting: the hidden multiplier
Bonus terms commonly say slots count 100% toward wagering while table games count less, sometimes 10% or nothing. Weighting divides your progress:
- With 10% weighting, a bet of 10 only clears 1 of wagering.
- To clear 4,000 at 10% weighting you must bet 40,000.
Low-edge games look like a shortcut, but weighting usually closes the gap. Single-zero roulette has a house edge of 2.70% according to Wizard of Odds. At 10% weighting:
40,000 x 0.027 = 1,080 expected loss to clear a 100 bonus.
Even blackjack, where Wizard of Odds lists an edge as low as 0.28% under liberal rules with perfect strategy, often counts for so little (or is excluded) that it is not a way round the requirement. Read the weighting table before choosing your game.
The maximum bet rule
Most bonuses have a maximum stake per spin or hand while the bonus is active. Break it once and the casino can void the bonus and any winnings from it. The rule exists to stop players from betting big to get lucky fast. If you take a bonus, set your bet size to stay under the cap and check whether it is stated in your coin or in a fiat equivalent, since crypto prices move.
Expiry: time is part of the cost
Bonuses expire, often within days or a few weeks. Expiry turns a maths problem into a pace problem. Clearing 4,000 at 1 per spin means 4,000 spins. If you do not normally play that much in the window, the bonus pushes you to play more than you planned, which is a responsible gambling issue as much as a value issue. If the timeline does not fit your normal play, skip the bonus.
Sticky vs non-sticky bonuses
| Type | How it works | What it means for you |
|---|---|---|
| Non-sticky (sometimes called “parachute”) | You play with your deposit first. The bonus only comes into play if your deposit runs out | If you win early on your own money, you can usually forfeit the bonus and withdraw. Generally better for the player |
| Sticky | Deposit and bonus are mixed. The bonus itself can never be withdrawn and is removed at cash-out | Wins are possible, but the bonus amount is deducted when you withdraw |
Also look for a maximum win or maximum cash-out cap on bonus winnings. A cap can cut off the very wins that make a bonus worthwhile.
Rakeback and cashback: simpler alternatives
Many crypto casinos offer ongoing rewards instead of, or as well as, deposit bonuses.
- Rakeback returns a share of the house edge on your bets. In a made-up example, 10% rakeback on 4,000 wagered at a 4% edge returns 10% of 160, which is 16.
- Cashback returns a share of net losses over a period. In a made-up example, 10% cashback on a net loss of 200 returns 20.
These are smaller numbers than a headline match bonus, but they often come with low or no wagering, no max bet rule and no expiry pressure. For many players they are worth more in practice. Check whether the returned amount itself carries wagering before you count it as cash.
A five-minute bonus check
- Find the base: bonus only, or deposit plus bonus?
- Multiply to get the total wagering.
- Multiply by the house edge of the game you will play (100% minus RTP).
- Adjust for weighting if you play anything other than full-weight games.
- Compare the expected loss with the bonus. Then read the max bet, expiry and max win rules.
If step 5 comes out negative, or the expiry would make you play more than usual, decline the bonus. You can always play with no bonus at all, which keeps your deposit withdrawable at any time.
We score bonus terms this way in every review, as explained on our methodology page. For the bigger picture on picking a site, see how to choose a crypto casino.
Why regulators care about this
The UK Competition and Markets Authority investigated online gambling between 2016 and 2019 and raised concerns about promotions with “complex and strict requirements” that are “difficult to understand and may be unachievable”, and about restrictions on withdrawing winnings made with a player’s own deposit unless they met extensive wagering requirements. Offshore crypto casinos are not bound by that UK case. Curacao’s National Ordinance on Games of Chance does let the regulator attach conditions to a licence covering the content of the operator’s general terms and conditions (Article 5.8), but the law itself does not set a wagering cap. That is all the more reason to read the terms yourself.
Keep it a game
Bonuses are designed to keep you playing. Gambling is 18+ only. Set a deposit limit, decide your stop point before you start, and see our responsible gambling page for tools and support.
Sources
- Wizard of Odds, house edge definition and figures: https://wizardofodds.com/gambling/house-edge/
- UK CMA, online gambling case (2016 to 2019): https://www.gov.uk/cma-cases/online-gambling
- National Ordinance on Games of Chance (LOK), CGA consolidated text: https://gamingcontrol.spin-cdn.com/media/online_gaming/20241230_landsverordening_op_de_kansspelen.pdf