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Casino bonus value calculator

Enter a bonus and its wagering terms, or load one of the five welcome offers in our ranking, to see what it’s worth after the house edge, and whether it’s worth claiming at all.

Casino bonus value calculator

Load a welcome offer as of September 30, 2026
Bonus type
The wagering multiple applies to
Site credit, casino bonus or no-deposit bonus
Shown in the app or the terms
What you’d be down after the first day
0x if winnings are paid as cash
Game you’ll clear it on
Game contribution in the terms

Net value of the bonus, on average

Worth claiming

+$40.00

$100.00 in bonus, minus $60.00 expected loss while clearing it

Bonus you receive
$100.00
Wagering required
$1,500.00
Turnover on your game
$1,500.00
Expected cost of clearing
$60.00
Share of the bonus you keep
40%
Break-even RTP
93.3%

Value ≈ bonus − (wagering ÷ contribution) × house edge: an average over many players who finish the wagering with flat bets. Variance, time limits, maximum-bet rules and taxes all make the real outcome worse than the average.

The five welcome offers compared

Each offer in our ranking, valued on a 96% slot with the full offer taken, as the presets load it. Terms as of September 30, 2026; they vary by state and change often, so read the casino’s terms before you opt in.

Casino Offer Type Wagering Value on a 96% slot
BetMGM Casino Our review 1,000 bonus spins + Spin the Wheel MI, NJ, PA, WV Bonus spins 10x +$57.60 $96.00 received, $38.40 to clear · assumption, see preset
FanDuel Casino Our review $25 casino bonus + 1,000 bonus spins for a $5 deposit MI (FanDuel’s terms); NJ, PA and WV per reviewers Site credit 1x +$24.00 $25.00 received, $1.00 to clear
DraftKings Casino Our review Wager $5, get up to 1,000 Flex Spins MI, NJ, PA, WV; Connecticut unverified Bonus spins 0x +$220.80 $220.80 received, $0.00 to clear · assumption, see preset
BetRivers Casino Our review Up to $500 lossback + up to 500 bonus spins MI, NJ (reported); PA and WV differ Lossback 1x +$480.00 $500.00 received, $20.00 to clear · assumption, see preset
Caesars Palace Online Casino Our review 100% deposit match up to $1,000 + $10 sign-up credit MI, NJ, PA, WV Deposit match 15x on the bonus +$400.00 $1,000.00 received, $600.00 to clear

Headline size and value are different things: BetRivers’ $500 lossback at 1x keeps almost all of its value, while a $1,000 match at 15x keeps less than half. The spin offers are valued at the stake per spin, which BetMGM doesn’t publish, so that row rests on an assumption the preset explains. Our guide to casino bonuses walks through the math, and RTP and house edge explained gives the numbers for each game.

How the calculator works

  1. Bonus you receive. For a deposit match, your deposit × the match percentage, up to the cap. For a credit, the credit. For spins, spins × stake × the slot’s RTP (the expected winnings). For a lossback, your net loss × the refund rate, up to the cap.
  2. Wagering required. The multiple × the bonus, or × deposit plus bonus when the terms say so. For spins, the multiple applies to the winnings.
  3. Turnover on your game. Wagering ÷ the game’s contribution: a 20% contribution means betting five times as much.
  4. Expected cost. Turnover × the house edge (100% − RTP). The slot preset uses 96%; Pennsylvania’s online slots paid back 94.9% in 2025.
  5. Net value. Bonus − cost. Positive means the offer is worth claiming on average; the break-even RTP is the return at which it stops being.

Regulated states protect you here: in New Jersey, Pennsylvania and Michigan, casinos must publish the wagering terms by game type, let you cancel a bonus, and can’t cap your winnings once you’ve met the terms. Set a deposit limit before you claim anything, and remember that winnings are taxable (see our gambling tax guide).

Compare the 5 best online casinos in the USA Ranked on regulation, fees, features and payouts · BetMGM Casino, FanDuel Casino, DraftKings Casino and more See the ranking

Frequently asked questions

How do you calculate what a casino bonus is worth?

Value ≈ bonus − (required wagering ÷ game contribution) × house edge, the rule of thumb from the Wizard of Odds that our bonus guide explains. A $100 bonus at 15x on a 96% slot needs $1,500 of play, which costs about $60 on average, so it’s worth about $40.

What does “bonus only” versus “deposit plus bonus” mean?

Which amount the wagering multiple applies to. A $100 match at 15x on the bonus alone means $1,500 of bets; on deposit plus bonus it means $3,000, which on a 96% slot turns a +$40 offer into a −$20 one. Always check which one the terms use.

Why does the game I play change the value?

Two reasons. Low-edge games such as blackjack lose less per dollar wagered, but casinos usually count them at only 10–20% toward the requirement, or set a higher multiple, so you have to bet far more. The calculator applies both the RTP and the contribution of the game you pick.

How does the calculator value bonus spins?

Spins × the stake per spin × the slot’s RTP gives the expected winnings; any wagering on those winnings costs the same as clearing a credit. 100 spins at $0.20 on a 96% slot are worth about $19.20 before wagering. Where a casino doesn’t publish the spin stake, the preset says what we assumed.

How does a lossback bonus work in the calculator?

A lossback refunds part of your net losses in a set period, as credit with its own wagering. The calculator takes the loss you enter, applies the refund rate and cap, then values the credit. Remember it only pays if you’re down, and the play that produced the loss carried the normal house edge.

Does a positive value mean I will make money?

No. It’s an average over many players who finish the wagering with flat bets. Variance can bust you before you clear it, time limits can expire, maximum-bet rules can void the bonus, and winnings are taxable. Set a deposit limit before you claim anything.

Sources

We verify facts against primary sources (regulators, court records, operators’ own terms) wherever possible.

  1. Understanding Bonus Terms / Casino Bonus House Edge Calculator — Wizard of Odds , accessed 2026-09-30
  2. N.J.A.C. 13:69O-1.12 — Internet and mobile gaming promotions — Cornell Legal Information Institute , accessed 2026-09-30
  3. 58 Pa. Code §813a.3 — Promotions — Cornell Legal Information Institute , accessed 2026-09-30
  4. Mich. Admin. Code R 432.649 — Cornell Legal Information Institute , accessed 2026-09-30
  5. House Edge of casino games compared — Wizard of Odds , accessed 2026-09-30
  6. Monthly Interactive Gaming Report Summary, FY2025/26 — Pennsylvania Gaming Control Board , accessed 2026-09-30