Wagering Requirement Maths: Worked Examples With House Edge

What the requirement actually multiplies

The multiple is the easy part. The base is where bonus terms differ. Operators word the requirement against one of two bases: the bonus alone, or the deposit plus the bonus. PlayNow's published conditions for its casino tokens are a plain example of the first kind. They define a wagering requirement as the minimum dollar value on eligible games a player must spend before withdrawing winnings generated from the token, and they set it at 30 times the value of the token. In that wording the deposit is not multiplied at all. Other operators multiply both amounts, and the difference in required turnover is enormous.

Every example below uses invented numbers so that the arithmetic is easy to follow. They are illustrations of method, not descriptions of any casino's offer, and you should replace them with the figures in the terms you are reading. We use a C$100 deposit with a 100% match, so the bonus is C$100.

35x the bonus versus 35x deposit plus bonus

Take the same multiple under both bases. If the 35x applies to the bonus only, the turnover is 35 x C$100 = C$3,500. If it applies to deposit plus bonus, it is 35 x C$200 = C$7,000. Assume a slot with a 4% house edge, which corresponds to a 96% RTP; our piece on how to check a slot's RTP shows why the real figure can differ by site. Expected loss over the required turnover is the turnover multiplied by the edge.

Bonus value here means the C$100 bonus minus the expected loss while clearing it. Compare it with the alternative of depositing C$100 and not taking the bonus: you keep C$100 in expectation. With a 35x bonus-only requirement you end up with C$200 - C$140 = C$60 in expectation, which is C$40 worse. With 35x on deposit plus bonus, the expected loss of C$280 exceeds the whole C$200 balance, so on most paths the balance reaches zero before the requirement is cleared. The expectation formula stops being a useful forecast at that point; the practical reading is that you are unlikely to ever withdraw.

The break-even multiple

You can solve for the highest multiple that still leaves the bonus worth at least zero. If the bonus is B, the multiple is m, and the house edge is h, the expected loss while clearing a bonus-only requirement is m x B x h. Setting that equal to B gives m = 1 / h.

• At a 4% edge, the break-even multiple on the bonus alone is 1 / 0.04 = 25x.
• At a 6% edge, which is a 94% RTP, it falls to about 16.7x.
• If the requirement applies to deposit plus bonus with a 100% match, the base is 2B, so the break-even is half as large: 12.5x at a 4% edge.

This is why a lower RTP build hurts twice. It raises the cost per dollar wagered and it lowers the multiple you can afford. For a view of how bonus types compare, our welcome bonus guide and the page on deposit bonuses cover the formats; here we stay with the arithmetic.

How game weighting changes the price

Terms usually say that not every game counts equally towards the requirement. A game with a 10% weighting adds only C$0.10 to the progress for each C$1 you wager. The next table keeps the 35x bonus-only terms from above and tests three games. The house edges and weightings are assumptions chosen for the example: slots at 4% and 100%, blackjack with basic strategy at about 0.5% and a 10% weighting, and single-zero roulette at about 2.7% and a 10% weighting.

The blackjack row shows the trap in the other direction. A low house edge looks attractive, but a heavy discount in weighting multiplies the number of hands so much that the expected cost ends up higher than the slot. Roulette at the same weighting is far worse. The correct comparison is edge divided by weighting: 4% / 100% is 0.04, 0.5% / 10% is 0.05, and 2.7% / 10% is 0.27 per dollar of progress. If a game is listed as excluded from the requirement, wagers on it add nothing, and a long blackjack session can leave the requirement exactly where it started. Our pages on online blackjack and online roulette describe how those games behave without bonus terms attached.

The wording that changes the answer

Four phrases decide most outcomes, and they are worth finding before you accept anything.

• The base. Look for the words bonus amount, deposit plus bonus, or bonus plus winnings. PlayNow's conditions, for instance, count the token's value and later winnings from it towards the total.
• Where the winnings sit. PlayNow places winnings from a token in a separate Held Funds balance that can be wagered but not withdrawn until the requirement is met. Check whether the operator you are reading does the same or locks the whole balance.
• The expiry. Those same conditions say a token must be used within 14 days of being credited. A short window forces higher turnover per day.
• Excluded games. PlayNow's welcome offer excludes live casino from its token. Always read the eligible-game list.

A fifth clause, the cap on the size of each bet while a bonus is active, can void winnings outright, and our guide to the bonus max-bet rule covers it separately. The conditions we quote were written for promotions dated 2024 and 2025, so treat them as an example of how an operator words these rules, not as a live offer.

What regulators say about bonus wording

In Ontario, the AGCO's Registrar's Standards for Internet Gaming set disclosure rules for inducements. Standard 2.06 requires operators to disclose all material conditions and limitations of an offer at its first presentation on the gaming site, with other conditions no more than one click away. An offer may not be described as free if the player risks their own money or conditions attach to it, and it may not be described as risk-free if the player must incur a loss or risk their own money to use or withdraw winnings. Standard 2.04 also prohibits offering a promotion that is not reasonably attainable without incurring substantial losses. Those clauses give you a concrete test: if the headline says free and the arithmetic above shows an expected loss of C$140 to clear it, the first presentation should have told you about the condition.

The Competition Bureau takes a similar view of advertising in general. It advises against fine print disclaimers because they often fail to change the general impression conveyed by an advertisement, and it adds that the ad and the disclaimer together must not mislead. This is general consumer law and not a gambling rule, but it is the framework behind the complaint that a big number on a banner can be undone by a small clause.

A five-line check before you accept

1. Write down the multiple and the base, then multiply them.
2. Multiply that turnover by the house edge of the game you intend to play, divided by its weighting.
3. Subtract the result from the bonus; if the answer is negative, the bonus costs you in expectation.
4. Check expiry, excluded games and the maximum bet.
5. Decide in advance whether you would play this game without the bonus, and stop if the answer is no.

The arithmetic uses long-run averages. Real sessions swing well above and below them, and none of this makes a bonus profitable or safe. For other offer types, the bonus overview lists the formats, and if play starts to feel like a need, ConnexOntario offers free, confidential support at 1-866-531-2600, with provincial lines elsewhere.