Wagering requirements (also called playthrough or rollover requirements) determine how many times bonus funds must be wagered before any winnings can be withdrawn. These requirements fundamentally alter the true value of promotional offers and represent a key factor in gambling industry economics.
Understanding bonus value is essential for multiple stakeholders. According to the UK Gambling Commission's guidance on terms and conditions, operators must present bonus terms clearly and fairly. This calculator helps analysts and compliance professionals evaluate whether promotional mathematics are reasonable and transparent.
Calculate Bonus Expected Value
Enter bonus details to calculate the true expected value after wagering requirements.
Bonus Value Analysis -
Note: This calculation assumes consistent play at the specified house edge. Actual results vary based on game selection, variance, and specific bonus terms. Always review complete terms and conditions.
Advanced Bonus Analysis
Detailed analysis including max bet limits, time constraints, and game-specific contributions.
Game Mix & Contributions
Comprehensive Bonus Analysis -
Breakdown by Game Type
Note: Analysis assumes optimal strategy for table games and video poker. Slots house edge varies significantly by machine. Time estimates assume continuous play.
Compare Bonus Offers
Compare two bonus offers side-by-side to determine which provides better value.
Offer A
Offer B
Comparison Results
Note: This comparison considers only the mathematical expected value. Other factors such as game variety, withdrawal limits, and terms complexity should also be considered.
How Wagering Requirements Affect Bonus Value
Wagering requirements create a mathematical cost that offsets the nominal bonus value. Each time bonus funds are wagered, the house edge extracts a percentage. Over multiple wagering cycles, this cost can exceed the bonus itself, resulting in negative expected value.
Expected Loss = Total Wagering x (House Edge / 100)
Bonus EV = Bonus Amount - Expected Loss
Effective Wagering = Wagering / (Game Contribution / 100)
The Malta Gaming Authority's Player Protection Directive requires operators to present bonus terms in a "clear, accurate and not misleading" manner. This includes transparent disclosure of wagering requirements and their practical implications. Understanding the mathematics helps analysts assess whether promotional materials meet these standards.
Example: Standard Welcome Bonus
Consider a typical 100% match bonus with 35x wagering requirements applied to the deposit plus bonus:
| Component | Calculation | Amount |
|---|---|---|
| Deposit | Initial investment | $100 |
| Bonus | 100% match | $100 |
| Wagering Base | $100 + $100 | $200 |
| Total Wagering Required | $200 x 35 | $7,000 |
| Expected Loss (3% edge) | $7,000 x 0.03 | $210 |
| Net Bonus Value | $100 - $210 | -$110 |
Factors Affecting Bonus Value
Several variables influence the true value of gambling bonuses. Compliance teams and analysts should consider each when evaluating promotional structures.
Wagering Multiplier
The multiplier is the most significant factor. Industry standard welcome bonuses typically range from 25x to 50x, though outliers exist at both ends. Lower multipliers generally indicate better value, assuming other terms are comparable. According to European Gaming, several jurisdictions are implementing caps on wagering requirements to enhance consumer protection.
Wagering Base (Bonus vs. Deposit+Bonus)
When wagering applies only to the bonus amount, total required wagering is halved compared to deposit-plus-bonus calculations. This distinction can transform a negative EV offer into a positive one. For a 100% match at 35x:
- Bonus only: $100 x 35 = $3,500 wagering (EV: +$5)
- Deposit + Bonus: $200 x 35 = $7,000 wagering (EV: -$110)
Game Contributions
Most bonuses specify different contribution percentages by game type. Slots typically contribute 100%, while table games may contribute only 10-20%, and some games contribute 0%. This affects both the effective wagering amount and the optimal strategy for clearing requirements. Our house edge calculator can help determine the cost-benefit of different game choices.
Additional Terms
Other terms can significantly impact bonus value:
- Maximum bet limits: Typically $5-$10 during bonus play, affecting variance and completion time
- Time limits: Often 7-30 days to clear wagering; failure forfeits bonus and winnings
- Maximum cashout: Caps on withdrawable winnings from bonus funds
- Game restrictions: Some games excluded entirely or have 0% contribution
- Withdrawal requirements: Deposit must sometimes be wagered before withdrawal
Industry Applications
Compliance Review
Compliance teams use wagering requirement analysis to ensure promotional terms meet regulatory standards. The Advertising Standards Authority (ASA) requires gambling promotions to be presented clearly and not misleadingly, which includes honest representation of bonus achievability.
Market Analysis
Investors and analysts use bonus structure analysis to evaluate operator marketing efficiency and competitive positioning. Operators with more generous terms (lower multipliers, bonus-only wagering) may attract more customers but face higher promotional costs. Our M&A analysis often considers promotional economics when evaluating operator valuations.
Responsible Gambling Research
Understanding bonus mathematics informs responsible gambling initiatives. Research suggests that complex bonus terms can contribute to excessive play as users attempt to clear requirements. Transparent analysis tools support informed decision-making, aligning with the principles outlined in our responsible gambling standards coverage.