40x Wagering at a 10% House Edge
A bonus with a 40x wagering requirement has to be wagered 40 times before it can be withdrawn. At a house edge of 10%, that is expected to cost 400% of the bonus, which is more than the bonus is worth: on average you finish 300% of its face value worse off than if you had never taken it.
The numbers for a bonus of 100
| Measure | Value |
|---|---|
| Bonus face value | 100 |
| Total you must wager | 4,000 |
| Expected cost of wagering it | 400 |
| Expected value of the bonus | -300 |
| Break-even wagering requirement at this edge | 10x |
| Bets of 1 needed to clear it | 4,000 |
How the maths works
Every unit wagered is expected to lose the house edge. Wagering 40 times a bonus of 100 means staking 4,000, and at 10% that loses 400 on average. Subtract that from the bonus and you have its expected value: -300. The break-even wagering requirement is 1 divided by the house edge, here 10x: above that, the bonus is expected to cost more than it gives.
What changes the answer
This is the average over many players, so any single bonus can finish ahead or behind. Real terms add things this simple model leaves out, and each one can only make a bonus worth less: wagering that applies to the deposit as well as the bonus, games that count for only part of the wagering, a maximum bet while the bonus is active, a cap on what you can withdraw, and a time limit. Read all of them before you accept.
What to check before you accept a bonus
Find the wagering multiple and whether it applies to the bonus alone or to the deposit plus the bonus. Find which games count and for how much. Look for a maximum bet and a maximum cash-out. Work out the house edge of the game you will play, then compare your number to the break-even above. If you cannot find these in the terms, treat the bonus as worth nothing.
Other combinations
- 30x wagering at a 10% house edge: worth 0% of face value
- 35x wagering at a 10% house edge: worth 0% of face value
- 45x wagering at a 10% house edge: worth 0% of face value
- 50x wagering at a 10% house edge: worth 0% of face value
- 40x wagering at a 5% house edge: worth 0% of face value
- 40x wagering at a 7.5% house edge: worth 0% of face value
- Is a Wagering Requirement Worth It?
- 10% house edge