Casino Bonus Value Calculator

How to use the bonus value calculator

Take the welcome offer you are looking at, for example "100% up to €200, 35x wagering on deposit and bonus, max cashout €500", and fill in the fields:

1. Deposit amount: what you plan to pay in.
2. Match percentage: 100 for a 100% match, 200 for 200%.
3. Max bonus cap: the "up to" amount. Leave it blank if there is none.
4. Wagering multiplier: the number before the "x".
5. Max cashout: the limit on bonus winnings, if the terms have one.

The big green number is the real value of the bonus after the expected cost of wagering. Below it you see the bonus you get, the total you must bet and the expected cost of those bets. If the expected cost is larger than the bonus, the value shows €0.00 and a note shows how far below zero the offer is.

Three worked examples

The first offer looks the most generous and is worth the least. The third is small, yet it keeps most of its value because the wagering is only 5x. That pattern holds for most welcome packages we review: the multiplier and what it applies to matter more than the size of the match.

Expected value in plain words

Every casino game keeps a small share of each bet on average. That share is the house edge, and it is 100% minus the RTP. A 96% RTP slot has a 4% edge. When a bonus forces you to bet a set amount, the average cost of those bets is easy to estimate:

EV = bonus - (deposit + bonus) x wagering x house edge

A positive EV means the bonus adds money on average. A negative EV means the playthrough is expected to cost more than the bonus gives. The max cashout cap then limits the upside, and the calculator applies it last.

Keep two limits of the model in mind. It describes an average over many attempts, so one session can end much better or much worse. It also assumes you finish the wagering, while a player who busts stops betting and cannot lose more than the deposit. For offers with heavy wagering the true average is therefore a little better than the simple formula, yet still poor. The model is best used to rank offers against each other.

Before you claim

Check the terms for a max bet while the bonus is active, excluded games and the time limit for wagering. These do not change the formula but can void a bonus. Our guide to casino bonus terms lists the clauses that cost players most, and the wagering requirement guide explains how playthrough is counted.

For offers with no playthrough at all, see no wagering bonuses. To check only the turnover, use the wagering calculator, and for spin offers the free spins value calculator. Welcome offers of all the casinos we review are on the bonus codes page and in the free spins guide.