Wagering requirements explained: how betting bonuses really work

Whatever the name, you're looking at the same few questions: how much must I bet, at what odds, by when, and what do I actually get back?

The key detail is what the multiple applies to. "6× the bonus" and "6× deposit + bonus" sound similar and are very different.

That second offer needs more than three times the turnover of the first for the same £50 bonus. Always find the exact wording in the terms: "bonus amount", "deposit and bonus", "qualifying deposit".

Other details that change the maths:

• Minimum odds. Bets below the minimum (say 1.50 when the rule is 1.80) don't count towards wagering.
• Which bets count. Void bets, cashed-out bets and some markets often don't count. Some offers count only part of each stake.
• Time limit. Typical windows are 7 to 30 days. Whatever isn't completed in time is usually removed, often with the winnings.
• Maximum bet and maximum win. Some offers cap the stake per bet or the amount you can withdraw from the bonus.
• Withdrawing early. Withdrawing before you finish wagering often cancels the bonus.

Every bet you place to clear wagering carries the bookmaker's margin. Over many bets you should expect to lose roughly that margin on your turnover. That's the hidden cost of the bonus.

Offer 2 isn't free money at all: on average the wagering eats the whole bonus, and you take on a lot of variance while doing it. With higher-margin markets (accas, player props, in-play) the cost is higher still. That's why low multiples, low minimum odds and long time limits matter more than the headline figure.

These are averages, not predictions. You can lose the whole balance before you finish wagering, and many people do, because the minimum odds force bets you wouldn't otherwise place. To learn how margins are built, see implied probability.

Most free bets are stake not returned (SNR): if the bet wins, you get the profit but not the free bet stake itself.

Because you never get the stake back, a free bet is worth less than its face value, and its value depends on the odds you use it on. A rough estimate, assuming a 5% margin:

Free bet value ≈ stake × (odds − 1) ÷ odds × 0.95

So free bets are better used on longer odds, because a short-priced free bet throws away most of its value. That said, longer odds also lose more often; it's a better average, not a better chance of winning this bet.

A bonus is optional. Skip it when:

• The wagering is high (roughly 10× or more, or on deposit + bonus): the expected cost can match the bonus.
• The minimum odds push you into bets you don't want, such as accas to reach a minimum price.
• The time limit is short compared with how often you actually bet.
• It locks your own money. Some deposit bonuses block withdrawals of your deposit until wagering is done.
• You'd bet more than planned to clear it. A bonus that changes your budget isn't a bonus; it's a nudge.
• You're in a bad spell. "Reload" offers sent after losses are designed to keep you playing.

• Reading the headline, not the terms. "Up to £100" usually needs a £100 deposit and comes with conditions.
• Assuming a free bet returns the stake. It usually doesn't.
• Placing bets below the minimum odds and finding they didn't count.
• Forgetting the expiry date and losing bonus funds and winnings.
• Using a bonus to chase losses. A bonus never makes up for a lost bankroll; see bankroll management.
• Opening many accounts just for offers without checking licences, payments and limits; see choosing a bookmaker and our list of licensed bookmakers.

Bonuses are for adults (18+) and only through licensed operators. If you want to compare current offers with their full terms in one place, use our bonuses page and check the stats before you pick a market, not the other way round.