Use the BonusFinder casino bonus calculator to find out what a bonus is really worth. It goes beyond the headline number: enter the bonus details, the wagering requirement, and the game RTP, and it works out the total wagering needed and the bonus's true expected value (EV), so you can tell a genuinely good offer from one that only looks good.
How to Use It
- Enter bonus details: deposit amount, match %, free spins count, cashback/lossback %, and caps.
- Add wagering info: wagering multiple (e.g., 35x), eligible game type, RTP, and wagering contribution.
- Review EV: see the bonus amount, total wagering needed, and expected value with all ratios clearly shown.
What Is Casino Bonus Expected Value?
A casino bonus's expected value (EV) is what the bonus is realistically worth once you account for the wagering requirement and the house edge of the games you have to play through it. A big headline bonus can still have negative EV if the wagering requirement is high or the eligible games have a low RTP. This calculator estimates that real value so you can tell a genuinely good offer from one that only looks good.
How Bonus EV Is Calculated
The core idea is simple:
Bonus EV = bonus amount (total wagering required x house edge)
The house edge is 1 minus the game's RTP. The more you have to wager, and the lower the RTP of the eligible games, the more expected value the wagering eats away. The calculator does this for you once you enter the bonus, the wagering multiple, the game RTP, and the wagering contribution.
Because it also shows the total amount you need to wager to clear an offer, it doubles as a casino bonus wagering calculator, useful for seeing how much play a bonus really demands before you opt in.
Casino Bonus EV Example
Say you deposit $100 and take a 100% match, giving you a $100 bonus. The wagering requirement is 35x the bonus, so you must wager $3,500, and you play slots with a 96% RTP (a 4% house edge).
- Total wagering: 35 x $100 = $3,500
- Expected cost of wagering: $3,500 x 4% = $140
- Bonus EV: $100 - $140 = -$40
In this case the bonus has slightly negative expected value: the wagering costs more than the bonus is worth. If the wagering requirement were lower, or the eligible games had a higher RTP, the EV could turn positive. That's exactly the kind of comparison this tool is built for.
Great For
- Comparing similar offers across sites
- Spotting low-RTP promos and bad bonus terms
- Building bankroll efficiency strategies
Important Notes
- This calculator assumes optimal play and average RTP.
- Actual results may vary due to variance and game contribution rules.
- Always read bonus terms and conditions.
- Gamble responsibly.
Casino Bonus EV FAQs
Can a casino bonus have positive expected value?
Yes. Low wagering requirements (for example 1x to 10x), high-RTP eligible games, and generous caps can all push a bonus into positive EV. Many are negative, though, which is why it pays to check before opting in.
How does the wagering requirement affect EV?
The higher the wagering multiple, the more you must bet through the bonus, and the more the house edge chips away at its value. Wagering is usually the single biggest factor in whether a bonus is worth taking.
Does the game's RTP matter?
A lot. Clearing a bonus on a 97% RTP slot costs far less in expected losses than a 92% RTP game. Always check which games are eligible and their contribution rate.
This calculator is part of the full set of BonusFinder tools built to help you bet and play smarter.
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