The wagering requirement is the headline number
A 100% match bonus with 40× wagering on $100 means you must wager $4,000 total before withdrawing the bonus or winnings. With a typical 95% return-to-player game, expected loss across that wagering is around $200 — already more than the bonus.
Numbers to check beyond wagering
Same bonus can be very different deals depending on these.
- →Wagering applies to bonus only, deposit only, or bonus + deposit (worst case)
- →Max bet during wagering (usually $5–10) — bet more and you forfeit
- →Game contribution rates — slots usually count 100%, table games often 10% or 0%
- →Time limit — typically 7–30 days to complete wagering
- →Maximum cashout — some bonuses cap winnings at e.g. 5× bonus
- →Sticky vs non-sticky — sticky means the bonus disappears on withdrawal
When bonuses are actually good
No-wagering cashback (sometimes called 'wager-free') is the cleanest deal. Risk-free first bets (return your stake if you lose) are also player-friendly. Low-wagering offers (under 20×) and reload bonuses for established accounts tend to beat first-deposit welcome bonuses on actual expected value.