No Wagering Bonus vs 45x–60x Wagering: Which Is Really Better?

Two online casinos both promise a 100% welcome bonus up to €2,000. One attaches a 45x or 60x wagering requirement. The other is a no wagering bonus. On the banner they look identical, but they are not worth the same money. This guide works through both offers with real numbers, sets out the pros and cons of each, and shows you what to check in the terms before you deposit.

What Wagering Requirements Mean at Most Online Casinos

A wagering requirement is the number of times you must bet a bonus before you can withdraw it or anything you win with it. At 45x, a €100 bonus has to be turned over €4,500 first. Many online casinos outside heavily regulated markets set this at 40x to 60x, and some apply it to your deposit plus the bonus, which doubles the work.

Regulators have started pushing the other way. Since 19 January 2026, UK-licensed operators can’t set wagering above 10x on any bonus. Most offshore online casinos still sit well above that, so the multiplier remains the single number that decides what a bonus is worth.

A no wagering bonus removes that step. Whatever you win is yours to withdraw, usually within a cashout cap and with ordinary withdrawal rules. You can read the basics in our guide to zero wagering bonuses explained. This article puts the two models side by side.

The Same €2,000 Bonus, Three Ways

Take the same offer at three casinos: 100% up to €2,000, and you deposit €2,000 to claim it in full. You start with a €4,000 balance in every case. The only difference is the wagering.

To compare fairly, we use one assumption throughout: slots with a 96% RTP, which means a 4% house edge. Over a long session, you lose on average about 4% of everything you bet. That is an average, not a prediction. Individual sessions swing a lot in both directions, and nothing here should be read as what you will win or lose.

	45x wagering	60x wagering	No wagering
Starting balance	€4,000	€4,000	€4,000
Bets required before withdrawing	€90,000	€120,000	None on winnings
Average cost of that betting (4%)	€3,600	€4,800	€0
Average balance left at the end	About €400	€0 (balance exhausted on average)	Your balance, minus normal play
Spins needed at €5 per spin	18,000	24,000	As many as you like

45x: the bonus mostly pays for its own wagering

At 45x, you have to bet €90,000 before anything can be withdrawn. At a 4% house edge, that much betting costs about €3,600 on average. Starting from €4,000, the average player who sees it through finishes with around €400. You put in €2,000 of your own money, so on average the bonus doesn’t just fail to add value. You end up behind where you’d be if you had simply played your deposit.

60x: the average player runs out of balance first

At 60x, the required betting rises to €120,000 and the average cost to €4,800, which is more than your entire €4,000 balance. On average, the balance hits zero before the wagering is complete. Some players will get lucky and clear it, but the maths is working against you from the first spin.

There is also the time it takes. With a €5 max bet, 60x means at least 24,000 spins. At roughly 500 spins an hour, that’s close to 50 hours of play inside a bonus window that’s often 7 to 30 days. Long sessions to beat a deadline are exactly the pattern responsible gambling tools are designed to interrupt.

No wagering: what you win, you keep

With a wager-free bonus, there’s no turnover target between you and your winnings. Play your €4,000 balance however you like, stop whenever you want and withdraw what’s left, subject to the casino’s cashout cap and standard checks. Some no-wager casinos ask you to play your deposit through once (1x) first, which at 96% RTP costs about €160 on €4,000 on average.

The difference in the result is large. After the required play, the no wagering player keeps an average balance of about €3,840 with no lock on withdrawing it. The 45x player averages about €400, and the 60x player nothing at all.

Pros and Cons of Each Bonus Type

High-wagering bonuses (45x–60x)

• Pro: headline amounts are often bigger, and more casinos offer them
• Pro: they extend playing time if you’d be playing that much anyway
• Con: on average, the wagering costs more than the bonus is worth
• Con: withdrawing your deposit early usually forfeits the bonus and its winnings
• Con: tight max bets, short expiry windows and game weighting make clearing it harder

No wagering bonuses

• Pro: winnings are withdrawable straight away, within the terms
• Pro: you can stop playing at any time without losing the bonus value
• Pro: the terms are simpler to understand and to check
• Con: they usually carry a cashout cap, often a multiple of the bonus or deposit
• Con: headline amounts are usually smaller, and fewer casinos offer them

What to Look for Before You Claim Any Bonus

Whichever type you’re looking at, these are the terms that decide its real value:

• The multiplier, and what it applies to. 45x on the bonus is very different from 45x on deposit plus bonus. On our €2,000 example, the second version would mean €180,000 in bets.
• Maximum bet while the bonus is active. Breaking it, even once, can void your winnings.
• Expiry window. Check how many days you have to finish the wagering, and how long free spins stay valid after activation.
• Game weighting. Slots usually count 100%. Table and live games often count 10% or less, or nothing.
• Maximum cashout. This applies to wager-free offers too. A 5x cap on a €2,000 bonus still leaves room for €10,000, but a cap of 1x does not.
• Sticky or non-sticky. A non-sticky bonus lets you play with your own money first and withdraw it if you win before touching the bonus.

Our free casino bonus calculator runs these numbers for any offer you’re considering.

Which €2,000 Bonus Is Better?

The no wagering version, clearly. On average, it leaves you with nearly ten times the 45x balance and avoids the 60x scenario where the average player loses everything before cashing out. It also lets you stop when you want, which matters more than any average.

The only case for the high-wagering bonus is if you would bet €90,000 or more anyway and only care about extra playing time. For everyone else, a smaller no wagering bonus is usually worth more than a bigger one with 45x–60x attached.

Some online casinos already build their welcome offers this way:

• Merlin Casino offers a wager-free welcome package of up to €800 and 300 free spins across four deposits.
• Hercules Casino has a wager-free welcome bonus of up to €1,000 and 150 free spins over three deposits.
• WinSpin runs a no-wager welcome package of up to €5,000 and 200 free spins.

Each has its own cashout caps and max bet rules, so read the full terms in our reviews before you deposit.

Frequently Asked Questions

Is a no wagering bonus better than a normal bonus?

For the same headline amount, almost always. On a €2,000 bonus at a 4% house edge, 45x wagering costs about €3,600 on average, while a no wagering bonus costs nothing beyond normal play. The trade-off is a cashout cap and usually a smaller maximum bonus.

How much do I have to bet with 60x wagering?

Multiply the bonus by 60. A €2,000 bonus needs €120,000 in bets, or €240,000 if the requirement applies to deposit plus bonus. At a €5 max bet, that’s at least 24,000 spins on the bonus-only version.

Do no wagering bonuses have a maximum cashout?

Most do. Caps are often set at a multiple of the bonus or deposit, such as 5x. Check the exact figure in the terms before claiming.

Can I withdraw my deposit if I don’t want the bonus anymore?

With most wagered bonuses, withdrawing your deposit before finishing the wagering cancels the bonus and its winnings. Non-sticky and no wagering bonuses are more flexible, but read the casino’s rules first.

If you’d rather keep what you win, start with our list of no wager bonuses and compare the terms side by side. A smaller bonus you can actually withdraw is worth more than a larger one you’re unlikely to clear.

Responsible Gambling: Gambling should be enjoyed as entertainment. If you feel your gambling is becoming a problem, please visit BeGambleAware.org for free support and advice.