Wagering requirements explained, with the maths
Short answer: a wagering requirement is the amount you must bet before bonus money, and sometimes your winnings, can be withdrawn. The cost to you is that amount times the casino's edge. A A$100 bonus at 35x on the bonus alone needs A$3,500 in bets and costs about A$140 on a 96% pokie.
The formula
Three steps cover almost every offer:
- Bets required = wagering base × multiple ÷ game contribution.
- Expected loss = bets required × (1 − RTP).
- Bonus worth = bonus − expected loss.
You can run these on any offer with the bonus calculator. The rest of this page explains each part and what to check in the terms.
1. What the multiple applies to
This single clause changes the cost more than any other. Some casinos apply the multiple to the bonus only. Others apply it to deposit plus bonus. With a matching bonus the second version needs twice the bets.
| Wagering | Applies to the bonus | Applies to deposit + bonus | ||||
|---|---|---|---|---|---|---|
| Bets needed | Expected loss | Bonus worth | Bets needed | Expected loss | Bonus worth | |
| 20x | A$2,000 | A$80 | A$20 | A$4,000 | A$160 | −A$60 |
| 25x | A$2,500 | A$100 | A$0 | A$5,000 | A$200 | −A$100 |
| 30x | A$3,000 | A$120 | −A$20 | A$6,000 | A$240 | −A$140 |
| 35x | A$3,500 | A$140 | −A$40 | A$7,000 | A$280 | −A$180 |
| 40x | A$4,000 | A$160 | −A$60 | A$8,000 | A$320 | −A$220 |
| 50x | A$5,000 | A$200 | −A$100 | A$10,000 | A$400 | −A$300 |
Read across any row: the same 35x costs A$140 when it applies to the bonus and A$280 when it applies to deposit plus bonus. Both are measured against the same A$100 bonus, so the second version turns a thin offer into a losing one.
2. Game contribution
Not every bet counts in full. A common pattern is pokies at 100% and table games at a much lower share, often with some games excluded entirely. A lower share multiplies the bets you need. Table games have a smaller house edge per dollar, which partly offsets it, as the next table shows.
| Where you play | Counts | Bets needed | Expected loss | Bonus worth |
|---|---|---|---|---|
| Pokie, 96% RTP | 100% | A$2,000 | A$80 | A$20 |
| Pokie counting 50% | 50% | A$4,000 | A$160 | −A$60 |
| Table game, 99% RTP, counting 20% | 20% | A$10,000 | A$100 | A$0 |
| Table game, 99.5% RTP, counting 10% | 10% | A$20,000 | A$100 | A$0 |
The 10% row is the instructive one. You must bet A$20,000 to clear a A$100 bonus, and even at a 99.5% return the expected loss is A$100, which erases the whole bonus. Check the contribution table in the terms before choosing where to play.
3. RTP and the house edge
Return to player (RTP) is the share of money bet that a game pays back over a very long run. A 96% pokie keeps 4%. Over A$3,500 of bets, 4% is A$140. Individual games publish different RTPs, and some casinos run lower-RTP versions of the same game, so use the figure shown in the game you are playing.
4. Maximum bet
Most bonuses cap your bet per spin while the bonus is active. The cap exists to stop you from clearing the requirement with a few large bets. Going over it can void the bonus and any winnings. At A$1 a spin, A$3,500 is 3,500 spins, which is why many players raise their bet and break the rule by accident.
5. Expiry
Bonuses expire, commonly within days. If you cannot place the required bets in time, you lose the bonus. Divide the bets required by the time you have to see whether the pace is realistic for you.
6. Variance: why an average is not a promise
The expected loss is the middle of a wide range. A volatile pokie can end the wagering far ahead, or empty your balance after a fraction of the bets. The formula tells you the price on average, not what will happen to you. It is a way to compare offers, not a reason to expect a profit.
7. Common multiples: what 10x, 20x, 30x and 50x cost
Players often ask what a 10x wagering requirement means. It means you must bet ten times the base amount. On a A$100 bonus that is A$1,000 in bets, and about A$40 expected loss at 96% RTP, so the bonus keeps A$60. At 20x the figures are A$2,000 and A$80, leaving A$20. At 50x on the bonus they become A$5,000 and A$200, which is a loss of A$100 on average. The break-even point for a 96% game on a bonus-only requirement is 25x: beyond that the expected cost exceeds the bonus.
8. Free spins and no deposit bonuses
Free spins usually pay out as bonus money, and that money carries its own multiple. Treat the winnings as the bonus amount. If 50 free spins win A$20 and the winnings carry 40x, you must bet A$800, which costs about A$32 at 96% RTP. That is nearly the entire A$20. No deposit bonuses follow the same arithmetic, with the extra catch that many cap how much you can withdraw from them.
9. Bonuses with no wagering
When the multiple is 0x, the bonus is paid straight into your balance and the formula gives its full face value. These offers are rare and often smaller, and may pair the bonus with a cash-out cap or a short expiry. Check those two clauses before treating "no wagering" as a free gift.
A full worked example
- An offer gives a 100% match up to A$200. You deposit A$150, so the bonus is A$150 (A$150 base on the bonus alone).
- The terms say 30x on the bonus, pokies count 100%, and the maximum bet is A$5.
- Bets required: A$150 × 30 = A$4,500.
- Expected loss at 96% RTP: A$4,500 × 4% = A$180.
- Bonus worth: A$150 − A$180 = −A$30. The expected loss is below your A$300 starting balance (A$150 deposit plus A$150 bonus), so finishing is plausible, though variance can still empty your balance first.
- At A$1 a spin that is 4,500 spins. At the A$5 maximum bet it is 900, with much larger swings in your balance.
Red flags in the terms
- The multiple applies to deposit plus bonus and the offer is advertised as "35x" without saying so.
- A very low contribution for the games you want to play, or a long list of excluded games.
- A maximum bet small enough that the required number of spins is unrealistic in the time allowed.
- A maximum cash-out on winnings from the bonus that is lower than what you could realistically win.
- Terms that let the casino change the rules or void winnings at its discretion.
- No clear statement of how and when withdrawals are processed.
Questions
Is 35x wagering good?
It depends on what it multiplies and how you play. On a A$100 bonus it means A$3,500 in bets if it applies to the bonus alone, or A$7,000 with a A$100 deposit if it applies to deposit plus bonus. At 96% RTP the expected losses are A$140 and A$280.
Can I withdraw before I finish the wagering?
Usually not without losing the bonus, and often the winnings made with it. Some terms let you withdraw your own deposit and forfeit the bonus. Read the withdrawal clause before you claim.
What is a 10x wagering requirement?
You must bet ten times the base amount, which is the bonus or the deposit plus bonus depending on the terms. On a A$100 bonus that is A$1,000 in bets. At 96% RTP the expected loss is A$40.
What does "no wagering requirements" mean?
The bonus or winnings can be withdrawn without betting them first. Check the maximum cash-out and expiry, because those limits often replace the wagering requirement.
Do free spins have wagering requirements?
Often yes. Winnings from free spins are commonly credited as bonus money with their own multiple. The formula is the same: use the winnings as the bonus amount.
What is the difference between a sticky and a cashable bonus?
With a sticky bonus the bonus amount is removed from your balance when you withdraw, so only the winnings above it leave. A cashable bonus is paid out with the balance once the requirement is met. Terms use different words for these, so check the exact clause.
Method and limits
The numbers on this page come from the same code as the calculator, which has 13 automated tests with hand-calculated expected values. Typical contribution shares and bonus structures vary by casino, so treat the examples as illustrations and confirm every term in the offer you are looking at. This is general information, not financial or legal advice. If gambling is causing you harm, see help and support.