The offer is a match, not a gift
A 100 deposit bonus means the operator adds bonus funds equal to the amount you deposit. Deposit fifty units and the cashier shows fifty units of bonus money alongside your own. The word that matters is "bonus." Those matched funds are not withdrawable cash. They are a promotional balance with its own set of rules, and those rules decide whether any of it ever becomes money you can take out.
What you are really being offered is a conditional discount on your play, not free money. The condition is almost always a wagering requirement, and the requirement is attached to the bonus funds, sometimes to the deposit amount as well. Before you accept, you want to know four things: how much must be wagered, which games count toward that total and at what rate, whether there is a ceiling on how much you can withdraw, and how long you have to meet the terms.
How the wagering requirement turns a match into a target
A wagering requirement, also called playthrough, is a multiplier stating how much must be wagered before bonus-related funds can be withdrawn. The multiplier applies to a base amount, and the base amount is not always the same across offers. Some operators calculate it on the bonus alone; others calculate it on the deposit plus the bonus. The difference is material, so the first thing to check is which base the terms page uses.
As an example, suppose a 100 deposit bonus on a fifty-unit deposit comes with a wagering requirement of thirty times the bonus. That means thirty multiplied by fifty bonus units, or fifteen hundred units, must be wagered before a withdrawal is possible. If the same multiplier applied to deposit plus bonus, the target would be thirty multiplied by one hundred, or three thousand units. Both versions are common. The only way to know which one you are facing is to read the promotion's own terms, which must state the base amount and the multiplier.
Wagering is not the same as losing. You can wager the same unit many times over as wins and losses cycle through your balance. The requirement is a measure of turnover, not of loss. But because the games you are playing carry a house edge, expected loss accumulates with every unit of turnover. The wagering requirement is the mechanism that gives the operator a predictable cost on the promotion, and it is the main reason a matched bonus is rarely as generous as the headline number suggests.
Game weighting decides how fast the counter moves
Not every wager counts toward the requirement at the same rate. Operators assign a weighting to each game category, and the weighting is expressed as a percentage of each wager that counts. A slot might count at one hundred percent, so every unit wagered moves the counter by one unit. A table game might count at a small fraction of that, so the same wager moves the counter far less. Some games are excluded entirely and contribute nothing.
The reason is structural. Games have different house edges and different rates of play. A game with a low house edge gives the operator less expected revenue per unit wagered, so the operator discounts its contribution to the playthrough target. The weighting table is part of the promotion terms, and it is worth reading before you play, because a game you enjoy may be contributing so little that the requirement becomes impractical within the time allowed.
| What you need to find | Why it matters | Where it is stated |
|---|---|---|
| Wagering base | Whether the multiplier applies to bonus only or deposit plus bonus changes the total target | Promotion terms page |
| Wagering multiplier | Sets the total turnover required before withdrawal | Promotion terms page |
| Game weighting | Determines how much of each wager counts toward the requirement | Bonus terms or game contribution table |
| Maximum cashout | Caps how much of the bonus-derived winnings can ever be withdrawn | Promotion terms page |
| Expiry window | Sets how long you have to meet the requirement before the bonus lapses | Promotion terms page |
Cashout caps and expiry windows set the ceiling
Even after you meet the wagering requirement, the operator may limit how much of the resulting balance can be withdrawn. A maximum-cashout cap states a ceiling on withdrawable winnings derived from the bonus. Any amount above the cap is removed when you withdraw. The cap is a fixed figure set per promotion, and it is printed in the terms. It is not a percentage of your deposit or a function of your wagers; it is a number you should read before you start, because it defines the best possible outcome of the promotion.
Expiry windows work the same way. The bonus, and sometimes any winnings generated from it, must be used within a set period. If the wagering requirement is not met before the window closes, the bonus balance and any winnings attached to it are removed. The window is stated in the terms, and it interacts with the wagering requirement: a high multiplier combined with a short window may be impossible to complete on games with low contribution weighting, regardless of how carefully you play.
How promotional value is constructed
The operator is not giving away money. A deposit match is a marketing cost with a controlled maximum exposure. The wagering requirement, the game weighting, the cashout cap and the expiry window are the four dials that set that exposure. A generous-looking match with a high multiplier, low table-game weighting, a low cashout cap and a short expiry can be worth less than a smaller match with modest terms. The headline percentage is the least informative part of the offer.
To evaluate a bonus, convert the terms into a single question: how much of my own money must I risk, and on which games, before any of the bonus becomes withdrawable, and what is the most I could take out at the end? The answer is always an estimate, because outcomes vary, but the terms give you the boundaries. If the terms do not state the base, the multiplier, the weighting, the cap and the expiry, treat the omission as a reason to look elsewhere.
Loyalty and comp value come from tracked play, not from bonuses
Separate from deposit bonuses, many operators run loyalty programmes that award points or tier status based on tracked play. The value of those programmes is built on a different calculation, and understanding it helps you read any promotional offer in context. The operator estimates the revenue your play is expected to generate, then returns a portion of that estimate as points, comps or tier benefits.
The core concept is theoretical loss, sometimes called theo. It is an estimate, not a statement about what you will lose in a session. As an example, suppose you play a game with a known house edge, and you wager an average amount per decision, and you make a certain number of decisions per hour. Multiply the average bet by the decisions per hour, then multiply that product by the house edge expressed as a decimal, and the result is the theoretical loss per hour. If a player averages ten units per decision, makes sixty decisions per hour, and the game carries a house edge of two percent, the theoretical loss is ten times sixty times zero point zero two, or twelve units per hour.
That is a labelled example, not a prediction. Actual results swing around the theoretical figure, sometimes far above it, sometimes below. The operator uses the theoretical figure to decide how much loyalty value to attach to your play. A programme might return a small fraction of theoretical loss as points, with the fraction set by the venue and printed in the programme rules. The fraction is not a secret, but it is also not a promise. Loyalty value is a rebate on expected loss, and it is always smaller than the expected loss itself.
Reading the terms before you opt in
The practical skill is not memorising what a 100 deposit bonus means in the abstract. It is knowing which documents to open and which fields to read before you click accept. The promotion terms page carries the wagering base and multiplier, the game weighting table, the maximum cashout and the expiry window. The loyalty programme rules carry the earning rate, the tier thresholds and the redemption options. The cashier screen shows you the bonus balance and the remaining wagering progress, where the operator provides that display.
When a term is missing or ambiguous, ask support before you deposit. A promotion that cannot be fully read is a promotion whose value cannot be estimated. The operator is required to state the material terms, and a refusal to clarify them is itself information. Your deposit is real money the moment it leaves your account. The bonus is conditional money until every condition is met. The difference between those two things is the entire subject of this article.
FAQ
Does a 100 deposit bonus double my money?
It doubles your displayed balance, but not your withdrawable money. The matched amount is bonus funds subject to wagering, game restrictions, cashout caps and an expiry window. It only becomes withdrawable if you meet every condition before the window closes.
Can I withdraw the bonus without wagering it?
No. The wagering requirement exists precisely to prevent that. The bonus balance is locked until the required turnover is complete. In some cases the deposit itself remains withdrawable, but withdrawing it before meeting the terms usually forfeits the bonus and any winnings attached to it.
Why do table games count less toward wagering?
Because they carry a lower house edge than most slots, so each unit wagered generates less expected revenue for the operator. The weighting is the operator's way of equalising the promotional cost across game types. The contribution table is specific to each promotion and is stated in the terms.
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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.