Worked Examples
Standard Casino Bonus
You receive a £50 bonus with a 35x wagering requirement on a minimum deposit of £20. Enter bonus £50, deposit £20, wagering multiplier 35x, and slot RTP 96%. The calculator shows total wagering required is £1,750, and your expected loss from wagering is £70 (4% of £1,750). Since the expected cost (£70) exceeds the bonus value (£50), this bonus has a negative expected value of -£20. You'd statistically lose money by accepting it.
High-Roller Bonus Evaluation
A casino offers a €200 bonus with a 40x wagering requirement. Enter bonus €200, wagering 40x, and RTP 96%. Total wagering needed is €8,000, with an expected loss of €320 (4% of €8,000). The expected cost (€320) far exceeds the bonus (€200), making this a -€120 proposition. Higher wagering multipliers make bonuses exponentially worse — compare this 40x offer to a 20x offer where the expected cost would only be €160, making the bonus +EV.
Low-Wagering Bonus (Profitable)
A sportsbook offers a €20 free play bonus with only 10x wagering. Enter bonus €20, wagering 10x, and assume 97% RTP. Total wagering is €200, expected loss is only €6. Since the bonus value (€20) exceeds the expected cost (€6), this is a genuinely profitable offer with an expected profit of +€14. Low-wagering bonuses under 15x on high-RTP games are typically worth accepting.