The wagering trap explained
Wagering requirements (also called rollover or playthrough) tell you how many times you have to bet through the bonus before you can withdraw it. A 100% match up to $1,000 with 40x wagering on bonus only means $40,000 in total bets. With 40x wagering on bonus plus deposit, it's $80,000.
That number sounds enormous, and it is. But it is not the same as the amount you have to lose. If you play games with 96% RTP, your expected loss across $40,000 in bets is roughly $1,600. If you started with $1,000 deposit + $1,000 bonus, your expected balance after clearing wagering is $400. So a 100% headline match yields roughly $400 in expected real value, not $1,000.
A 200% match bonus with $100 deposit and 40x wagering on bonus = $8,000 total bets. At 96% RTP, expected loss is $320. Starting with $300 ($100 deposit + $200 bonus), expected balance after clearing is approximately negative $20. Compare to a 100% match with 5x wagering: $1,000 in bets, $40 expected loss, expected balance of $160. The smaller-headline bonus delivers far better expected value.
Max cashout caps
Many bonuses cap how much you can withdraw from bonus winnings, regardless of how much you actually won. A 50 free spins NDB with a $100 max cashout means you keep at most $100 even if the spins paid $1,000.
Game weighting
Slots typically count 100% toward wagering. Live dealer often counts 10% to 20%. Table games might count 0% on some bonuses. If you play table games while a bonus is active and the bonus excludes them, you can void the bonus entirely. Always check the eligible games list before claiming.
Time limits
A 7-day window to clear $40,000 in wagering is meaningfully harder than a 30-day window. The same bonus is worth more on a longer clearance period because you can pace your play instead of forcing volume.