The moment a headline number stops being a gift
A reader lands on a promotions page and sees a large percentage, a pile of free spins, or a cashback figure. The first thing to understand is that none of those numbers is money. Each one is a condition attached to a possible future payment, and the only question that matters is whether the reader can satisfy the conditions without losing more than the offer returns. Cashed publishes its promotions on a dedicated page, and that page is where the conditions are stated. Reading it correctly means treating every headline figure as the start of a calculation, not the end of one.
The single fact that most changes how a promotions page should be read is this: the operator writes the offer so that the house keeps an edge on every bet placed with bonus funds. The reader's task is to find the five items that determine how large that edge is, and whether any of the advertised value survives contact with them. Those five items are the wagering multiple, the basis on which it is calculated, the games that count toward it, the time limit, and the maximum cashout. Each is explained below, and each is normally stated somewhere on the operator's own promotions page or in the terms linked from it.
The wagering multiple is a hurdle, not a detail
A wagering requirement is the number of times a bonus amount, or a deposit plus bonus amount, must be staked before any withdrawal of bonus-derived winnings is permitted. It is the single most important number on any promotions page, because it converts a headline offer into a total amount of betting the reader must complete. The higher the multiple, the more of the reader's own balance is exposed to the house edge before any cash can leave the account.
Across operators, wagering multiples on welcome offers commonly range from the low tens to well above fifty times the bonus. The figure itself is not standardised, and Cashed's promotions page states its own multiple in the terms attached to each offer. A reader who does not find the multiple on the main promotions banner should look for a link labelled "terms", "full terms", or "bonus policy", because that is where the binding figure is printed. If the page does not state a wagering multiple at all, there is no way to calculate the cost of the offer, and the only safe reading is that the offer is not worth pursuing.
| Item to confirm | Why it can change | Where it is stated |
|---|---|---|
| Wagering multiple | Different offers carry different multiples; a reload bonus often has a lower multiple than a welcome package | Terms link under the specific offer, or the promotions terms page |
| Basis of the multiple | Some operators apply the multiple to the bonus only, others to deposit plus bonus, which doubles or triples the total stake required | Same terms section, usually in a clause beginning "wagering is calculated on" |
| Eligible games | Slots often count fully, table games partially or not at all, and the list can differ per promotion | Game weighting table, usually near the wagering clause |
| Time limit | A welcome offer may allow several days, a free-spins drop only hours; the limit is set per campaign | Offer banner or the first paragraph of the terms |
| Maximum cashout | Free spins and no-deposit offers frequently cap winnings; deposit-match offers may or may not | Terms clause labelled "maximum withdrawal" or "cashout limit" |
The basis: bonus only, or deposit plus bonus
The wagering multiple means nothing until the reader knows what it multiplies. A multiple applied to the bonus alone is a smaller hurdle than the same multiple applied to deposit plus bonus. If a deposit is matched and the multiple applies to the combined sum, the total amount to be staked is more than double what a bonus-only basis would require for the same headline multiple. This distinction is the most common reason two offers with identical-looking percentages have very different real costs.
The basis is always stated in the terms, usually in a sentence that names the amounts included in the calculation. A reader should look for the phrase "deposit plus bonus" or "bonus amount only" and write down the resulting total stake before deciding whether to claim the offer. If the page does not say which basis applies, the reader cannot compute the wagering total, and any figure they produce is a guess. Cashed's promotions page, like most operators' pages, places this clause in the detailed terms rather than on the banner, so the reader must open the terms to see it.
Eligible games: where the multiple can be met
Not all games contribute equally to a wagering requirement. A promotions page typically includes a weighting table that assigns a contribution percentage to each game category. Slots commonly contribute fully, meaning every unit staked counts as one unit toward the requirement. Table games, live dealer games, and some video poker titles often contribute a fraction, or nothing at all. A reader who claims a bonus and plays only blackjack may find that none of their stakes count, and that the wagering requirement is effectively unreachable.
The weighting table is a separate block on the promotions page or in the linked terms. It is not decorative. It decides where the reader must play, and therefore which house edge applies to the wagering. A game with a low contribution percentage is usually one with a lower house edge, and the operator excludes it precisely because the player would otherwise have a better chance of completing the requirement while losing less. The reader should read the table before claiming, and should treat any game not listed as contributing zero.
The time limit and the maximum cashout
Two further items decide whether an offer can be completed at all. The time limit is the window within which the wagering requirement must be met. It is usually measured in days from the moment the bonus is credited, and it varies widely between offer types. A welcome package may allow a week or more; free spins may need to be used within a day. If the reader cannot meet the wagering requirement inside the window, the bonus and any winnings from it are removed, and the reader has spent time and possibly their own deposit chasing a target that was never reachable.
The maximum cashout is the ceiling on how much of the bonus-derived winnings can be withdrawn. It appears most often on no-deposit bonuses and free-spins offers, where the operator gives something for nothing and caps the upside. A reader who wins more than the cap keeps only the cap, and the rest is void. The cap is stated in the terms, usually in a clause labelled "maximum withdrawal", "cashout limit", or "winnings cap". If the page does not state a cap, the reader should not assume one does not exist; the absence may simply mean the cap is in a separate bonus policy document linked from the promotions page.
How the five items interact
None of the five items works alone. A low wagering multiple on a bonus-only basis with a generous time limit and full game contribution is a very different offer from the same multiple applied to deposit plus bonus, with only slots contributing, a two-day window, and a low cashout cap. The reader's job is to assemble all five numbers from the promotions page and its linked terms, and then ask a single question: after completing the wagering, is the expected remaining value greater than the amount the reader must deposit and risk?
The answer is usually no, and the promotions page is designed so that most readers never perform the calculation. The headline percentage is large, the wagering multiple is buried in a terms link, the weighting table is at the bottom of a long page, and the cashout cap is in a separate clause. A disciplined reader reads the page in reverse order: cashout cap first, then time limit, then game contribution, then basis, then multiple. That order reveals the offer's true shape before the headline number has a chance to mislead.
What the page does not state
A promotions page that omits any of the five items is not offering a better deal; it is offering an unreadable one. If the wagering multiple is absent, the reader cannot know the total stake required. If the basis is absent, the multiple is meaningless. If the game weighting table is absent, the reader cannot know where to play. If the time limit is absent, the reader cannot plan. If the cashout cap is absent, the reader cannot know the maximum possible return. In each case, the correct response is not to claim the offer and hope, but to treat the missing item as the answer: the offer cannot be evaluated, and an unevaluable offer is one the reader should decline.
Cashed's promotions page, like any operator's, is the only binding source for these items. A summary, a review, or a forum post may repeat a figure, but the only version that matters is the one on the operator's own page at the moment the reader claims the offer. Promotions change, terms are updated, and a figure read last week may not be the figure in force today. The reader should always open the live page and read the current terms.
FAQ
What is the first thing to check on a promotions page?
The wagering multiple and its basis. Those two numbers together determine the total amount that must be staked before any withdrawal is possible. The headline percentage is secondary to them.
Do all games count toward the wagering requirement?
No. Most promotions pages include a weighting table that assigns a contribution percentage to each game category. Slots commonly count fully, while table games and live dealer games often contribute a fraction or nothing. The table is the only reliable source.
What happens if the wagering requirement is not met in time?
The bonus and any winnings derived from it are removed. The time limit is stated in the terms, and it varies by offer. A reader who cannot meet it should not claim the offer.
Is there a limit on how much can be withdrawn from a bonus?
Often, yes. Free spins and no-deposit offers frequently carry a maximum cashout cap, stated in the terms. Deposit-match offers may or may not have one. The cap is binding, and winnings above it are void.
This page is an independent summary of what a promotions page covers and how to read one. It is not published by Cashed, and it states no figure or status for that operator. The operator's own promotions page and its linked terms are the only binding source for any offer's conditions.
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This article is general information about how these mechanics work. It is not legal advice and not a recommendation to gamble or to use any particular operator. Availability and legality differ by jurisdiction — check the rules that apply where you are.
