Wagering requirements, explained in euros.
A wagering requirement (WR) is the total amount you must bet before bonus money becomes withdrawable cash. The headline number is a multiplier (35x, 40x, 50x). The real cost is the euro figure it produces. This guide turns the multiplier into a number, then into expected loss.
what it is
The total wagering total an operator requires before bonus money can be withdrawn. Quoted as a multiple of the bonus or bonus + deposit.
why it matters
Wagering is where house edge is paid. Higher WR means more wagering, which means more expected loss. WR is the main EV killer.
common range
20x to 50x is typical. Below 20x is rare and usually paired with caps. Above 50x is almost always negative EV.
What a wagering requirement actually is
When you claim a bonus, the operator does not let you take the money straight to withdrawal. They require you to wager a multiple of it first. A 35x WR on a €100 bonus means you must place €3,500 in total bets before the bonus balance converts to cash you can withdraw.
That €3,500 is gross wagering, not net loss. You can wager the same €100 many times: bet €10, win €15, bet €15, lose, bet €5, win €20. Each bet counts toward the requirement. The math only cares about the total turnover.
From multiplier to euros
The conversion is straightforward. The base of the calculation depends on whether the WR applies to "bonus only" or "bonus + deposit".
wagering total
total wagering = multiplier × base
bonus only (better)
35x × €100 bonus = €3,500 of wagering. You keep your deposit; you only need to clear the bonus.
bonus + deposit (worse)
35x × (€100 bonus + €100 deposit) = €7,000 of wagering. Same multiplier. Double the cost.
The terms page usually buries the distinction in one line. Look for the phrase "applies to bonus" versus "applies to bonus and deposit". The second form is the industry default and quietly halves the EV of every comparable offer.
Game weighting: not all bets count equally
Most operators weight bets by game type. A €10 spin on a slot might count as €10 toward the WR. The same €10 bet on blackjack might count as €1, or zero. This is the operator hedging against you clearing the bonus on a low-edge game.
| Game type | Typical weighting | What this means |
|---|---|---|
| Slots | 100% | €10 bet = €10 toward WR |
| Roulette | 10% to 25% | €10 bet = €1 to €2.50 toward WR |
| Blackjack | 5% to 10%, often excluded | €10 bet = €0.50 to €1, or zero |
| Live casino | Usually 0% (excluded) | Does not count at all |
If a bonus restricts you to slots at 100% weighting, you cannot escape into low-edge games. The operator forces the wagering through a 4% to 8% house edge and the math does the rest.
A worked example
Same offer as the EV guide, with the wagering math laid out step by step.
step by step
€100 match bonus, 35x WR on bonus + deposit, slots only at 96% RTP
Step 1. Base for WR = €100 bonus + €100 deposit = €200.
Step 2. Total wagering required = 35 × €200 = €7,000.
Step 3. All wagering happens on 96% RTP slots. House edge = 4%. Expected loss = 4% × €7,000 = €280.
Step 4. EV = €100 effective bonus − €280 expected loss = −€180.
That is what "35x" looks like in euros when it applies to bonus + deposit. The headline says "€100 free". The math says you pay €180 on average to receive €100 of bonus credit.
Sticky versus cashable bonuses
Two structures hide behind the same "claim your bonus" button.
cashable
Once the WR is cleared, your full balance (deposit + winnings + bonus) is withdrawable. The standard structure for most welcome offers.
sticky
The bonus amount itself never withdraws. Only winnings made on top of it do. Lower headline cost to the operator. Lower EV to you.
Sticky bonuses are less common in MGA-licensed markets than they were a decade ago, but they still appear, especially on reload offers. The terms page will use the phrase "non-withdrawable bonus" or "bonus money cannot be cashed out". Read for that phrase.
Time limits make WR worse
Most welcome bonuses give you 7 to 30 days to clear the WR. Short windows force a higher bet size, which raises variance, which raises the chance you bust the bankroll before the bonus clears. The expected value calculation does not change. The distribution around it widens.
A 7-day window on a €7,000 WR is €1,000 of wagering per day. At €2 per spin, that is 500 spins. At €5 per spin, 200 spins. Pick a bet size you can sustain for the full window or do not take the bonus.
How to read the terms in 30 seconds
Three lines in any T&C page give you most of the WR picture.
- The multiplier. "35x", "40x", "50 times". Higher is worse.
- The base. "On bonus" or "on bonus and deposit". The second doubles the wagering.
- The eligible games. "Slots only at 100%" forces the house edge on you. "Table games excluded" usually means the same thing.
Once you have those three, plug them into the formula on the expected value guide and you have a usable EV in under a minute.