The number on the banner is only the first line of the offer
A promotion that promises a 100 bonus is not handing over a banknote. It is crediting an account with a promotional balance that behaves differently from a deposit. The credit exists inside the operator's system, and it only becomes withdrawable cash after a set of conditions is satisfied. Those conditions are printed in the offer's terms, and they determine whether the bonus has any practical value at all.
The 100 in the offer is a unit of account, not a payout. It could be a matched deposit bonus, a no-deposit credit, or a bundle of free spins with a nominal value. What matters is not the headline figure but the contract around it: how much must be wagered, which games count, how much can be withdrawn, and how long the player has to meet the terms.
Wagering requirements turn the credit into a task
A wagering requirement, sometimes called playthrough, is a multiplier that states how much must be staked before bonus-related funds can be withdrawn. The mechanism is simple to describe but easy to misread. If a bonus carries a requirement of a certain multiple, the player must place wagers totalling that multiple of the bonus amount. The requirement is a volume of turnover, not a target profit.
Because the multiplier is set per offer, no single number applies across operators. The figure that governs a specific promotion appears in the promotion's terms page, usually in a section headed "wagering" or "playthrough". The reader should read that figure before opting in, not after.
Wagering requirements interact with house edge in a way that quietly reduces the expected value of any bonus. Every wager placed to satisfy the requirement carries the built-in edge of the game being played. The longer the requirement, the more times that edge is applied to the player's turnover. A bonus with a generous headline amount and a steep multiplier can be worth less in expectation than a smaller bonus with a lighter one.
Game weighting decides how fast a wager counts
Not every game contributes equally toward clearing a wagering requirement. Operators assign a weighting to game categories, and that weighting changes how much of each stake counts toward the turnover target. A slot spin might count in full, while a table game wager might count as a smaller fraction, or not at all.
The reason is structural. Games with a lower house edge give the player less expected loss per unit wagered, which makes them less useful to the operator for clearing a promotional balance. Weighting steers play toward games where the requirement is met faster but the expected loss per wager is higher.
| Game category | Typical weighting pattern | What it means for clearing |
|---|---|---|
| Slots | Usually counted in full | Every unit wagered moves the requirement |
| Table games | Often reduced or excluded | Only a fraction of each wager counts, or none |
| Live dealer games | Frequently excluded | Play does not advance the requirement |
| Video poker | Sometimes reduced | Partial contribution, varies by title |
The exact percentages are printed in the promotional terms. A player who ignores weighting can wager heavily on a game that contributes nothing and find the requirement untouched.
Cashout caps place a ceiling on what leaves the account
A maximum-cashout cap is the upper limit on how much of the bonus-derived balance can ever be withdrawn. Even if the wagering requirement is met and the balance is positive, the cap may restrict the withdrawal to a fixed amount. Winnings above that amount are removed from the balance when the withdrawal is processed.
Caps are most common on no-deposit bonuses and free-spin promotions, where the operator has extended credit without receiving a deposit. The cap is stated in the terms, and it applies to the final withdrawable amount, not to the balance shown on screen during play.
A player evaluating an offer should read the cap before playing, because the cap changes what the bonus is worth. A bonus with a low cap and a high wagering requirement can require substantial turnover for a payout that is smaller than the turnover itself.
Expiry windows turn the bonus into a deadline
Bonus funds and the requirement attached to them do not sit in the account indefinitely. The offer carries an expiry window, after which the bonus balance and any progress toward clearing it are removed. The window is stated in the terms, and it begins when the bonus is credited, not when the player first logs in to use it.
Expiry interacts with wagering requirements in a practical way. A high requirement inside a short window forces a fast pace of play, which increases the number of decisions per hour and therefore the expected loss over the clearing period. A longer window allows a slower pace, but the requirement does not shrink.
Free spins often carry a separate, shorter expiry than the bonus funds they produce. The spins may need to be used within a day or two, while the winnings from them carry their own wagering requirement with its own deadline.
How loyalty and comp programmes calculate value
Loyalty programmes and comps operate on a different principle from a one-time bonus. Instead of a fixed credit, they return value based on tracked play. The venue or operator records how much is wagered, for how long, and on which games, then uses that record to calculate a theoretical value for the player.
The concept is theoretical loss: an estimate of how much a player is expected to lose over a session, derived from the volume of play and the house edge of the games chosen. It is not the player's actual result, which varies with luck. It is a long-run projection used to decide what the player is worth to the house.
The arithmetic is a multiplication of three inputs: average bet size, decisions per hour, and the house edge of the game. Suppose a player bets 5 units per hand at a table game with a house edge of 2%, and plays 60 hands per hour. The expected loss per hour is 5 multiplied by 60 multiplied by 0.02, which is 6 units. That is an example calculation, not a promise about any session. The actual result on any given hour can be far above or far below the theoretical figure.
| Input | What it measures | Where it comes from |
|---|---|---|
| Average bet | The typical stake per decision | The player's own betting pattern |
| Decisions per hour | How fast the game runs | Game type and table speed |
| House edge | The operator's mathematical advantage | The specific game and rule set |
| Theoretical loss | Expected loss over time | The product of the three inputs |
Comps are a small fraction of that theoretical loss, returned as meals, rooms, or loyalty points. The fraction is set by the venue, not by any universal standard, and it is not published as a simple percentage. A player can see the value of their tracked play in the loyalty account, but the formula behind it is the operator's own.
Reading an offer before opting in
The practical skill is reading the terms in the right order. Start with the wagering requirement, because it defines the size of the task. Then check game weighting, because it defines which games can complete the task. Then read the cashout cap, because it defines the ceiling on the reward. Finally, note the expiry window, because it defines the deadline.
Each of these numbers is printed in the promotion's own terms. No general article can state them, because they differ by operator, by offer, and sometimes by the player's jurisdiction. The reader's job is to find the terms page for the specific offer and read the four figures before depositing or claiming.
FAQ
Is a 100 bonus the same as 100 in cash?
No. A 100 bonus is a promotional balance that cannot be withdrawn until the wagering requirement is met and the cashout cap is applied. It is a conditional credit, not a cash balance.
Why do some games not count toward the wagering requirement?
Games with a lower house edge produce less expected loss per unit wagered, so operators weight or exclude them to keep the promotional cost predictable. The weighting table is printed in the offer terms.
Can a bonus be worth less than its headline amount?
Yes. A high wagering requirement, heavy game restrictions, a low cashout cap, or a short expiry window can all reduce the practical value of a bonus below the number on the banner. The terms, not the headline, determine what the offer is worth.
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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.