Comparing casino bonuses like for like

Comparing casino bonuses: the five numbers that matter

Headline offers are built to be compared on the wrong thing. To compare them on the right thing, pull five numbers out of each set of terms. Everything else is detail. These casino guides use the same five numbers throughout.

The basis matters as much as the multiple. A 30x requirement on the bonus alone is far smaller than 30x on deposit plus bonus. Our guide to wagering requirements shows both versions.

Headline offer vs published package: why the numbers differ

Before comparing anything, know which offer you're looking at. Our links carry headline offers supplied by the site owner, and the casinos' own pages often advertise something else. The terms shown at sign-up are the ones that apply.

Miami Club needs a note of its own. Its Terms of Use (version 2.1, September 28, 2026) list the United States as a prohibited jurisdiction in section 1.6, while the site owner's affiliate program confirms US players are accepted, so confirm your eligibility at sign-up. It runs WGS (Wager Gaming) software rather than RTG. Our Miami Club review covers both points in full.

How to compare casino bonuses on the same deposit

Pick the amount you'd actually deposit and run every offer through it. That removes the distortion of "up to" figures most players never reach. Then apply two formulas.

• Total wagering = wagering basis × multiple. On "deposit + bonus", the basis is your deposit plus the bonus.
• Expected loss while clearing = total wagering × house edge.

We use a 3.75% house edge, from the 96.25% RTP that third parties list for RTG's Sweet 16. Your games may differ, so swap in your own figure. A final number, expected loss per $1 of bonus, makes offers of different sizes comparable: below $1 means the bonus outweighs its average cost, above $1 means it doesn't. Our bonus value method walks through the same steps.

Comparing casino bonuses at a $200 deposit: worked numbers

Here are all seven partners at a $200 first deposit, using the terms each source gives. Where sources disagree, both versions appear. The arithmetic is shown so you can check it.

Silver Oak's pages don't say whether the multiple applies to the bonus or to deposit plus bonus; we've assumed the larger basis, so its figures may be lower in practice. Decode's 111% figure comes from a third-party listing of the code DECODE111, and codes change. Planet 7's 200% offer has no published maximum, so the full $400 is assumed.

What a bonus comparison shows: bigger matches carry bigger bills

Every loss-per-dollar figure in the table is above $1. At a 3.75% edge, the average player gives back more than the bonus while clearing it. SlotoCash comes out lowest at $1.41, helped by its 25x multiple. Silver Oak's 40x version is highest at $3.00.

A bigger match adds more wagering in step. Slot Madness's 275% gives the largest bonus, $550, but also the largest bill, $843.75. Miami Club has the lowest multiple, 20x, yet its $100 cap per deposit pushes its per-dollar cost up at $200; at a $100 deposit it would be $1.50. That's why the deposit size has to be fixed before you compare. Our match bonus explainer shows how percentages scale.

These are averages over the full wagering. Any single session can end well above or well below them, and losing the whole deposit is common. A bonus adds playing time with conditions; it doesn't change the house edge.

Max cashout caps: the number that can cancel a big match

A cap limits what you can withdraw from bonus play, however well a session goes. Third-party listings say Royal Ace caps welcome winnings at 10x the deposit, which is $2,000 on a $200 deposit, and Planet 7 at $1,000. SlotoCash's own pages say no max cashout, Silver Oak's offer page says no max withdrawal and Slot Madness is reported as having none.

Caps on no-deposit offers are tighter still. SlotoCash's general terms cap free-bonus cashouts at $200, Silver Oak caps its no-deposit chips at $100, and Miami Club gives two figures, 5x the bonus in its bonus terms and $150 in its Terms of Use. Our guide to max cashout rules shows how to price a cap into the comparison.

Eligible games, weighting and max bets compared

Two bonuses with the same multiple can play very differently if their game rules differ. Bonuses are built for slots, and table games are often excluded or weighted lower.

Weighting multiplies the work. At Miami Club's 5% for blackjack, $6,000 of required wagering would take $120,000 of blackjack bets. Breaking a max bet rule can void a bonus outright, so set your stake below it. Our page on bonus game weighting has more examples.

One-deposit vs multi-deposit welcome bonuses

Large "up to" figures usually spread across several deposits. SlotoCash's published package covers five deposits, Miami Club's eight and Silver Oak's ten. To reach the headline, you'd need to deposit, wager and repeat each step.

Order rules add friction. SlotoCash's terms say bonuses must be claimed in order with deposits one to five, and coupons redeemed before or right after a deposit and before any wager. When comparing a multi-deposit package with a single match, price only the deposits you'd really make, not the full ladder.

Comparing free spins and bonus games in welcome offers

Spins are the hardest part to compare, because casinos rarely publish a spin value. SlotoCash's own pages name 100 spins on Charms of the Forest for the first deposit, though its homepage FAQ names Cleopatra's Gold instead. Miami Club's published welcome package includes no free spins, while the offer via our link adds 285 Bonus Games. Silver Oak's published package also lists none.

Without a stated value per spin, treat spins as a small extra, and expect wagering and caps on their winnings. Our guide to free spins explains the usual conditions.

A step-by-step method for comparing casino bonuses

1. Choose the deposit you'd actually make, such as $100 or $200.
2. For each offer, write down the match, any per-deposit cap, the multiple and its basis.
3. Work out the bonus and the total wagering on that deposit.
4. Multiply total wagering by a house edge to get expected loss, then divide by the bonus.
5. Note the max cashout and compare it with the balance you'd hope to withdraw.
6. Check eligible games, weighting and the max bet against how you like to play.
7. Check the weekly withdrawal cap, since it sets how fast any win is paid.
8. Rank the offers on expected loss per dollar and cap, not on the headline.

When skipping the bonus wins the comparison

Declining is always one of the options you're comparing. Without a bonus there's no max bet rule, no excluded games and no cashout cap, though some casinos still ask you to wager a deposit before withdrawing; Silver Oak charges 8% if a deposit wasn't wagered once. Our page on bonus vs no bonus sets out when declining makes sense.

The legal picture belongs in any comparison too. Every partner here is an offshore casino that no US state licenses or regulates, so there's no state regulator behind the bonus terms. Read whether offshore casinos are legal and check your state's law first. Treat any bonus as entertainment with conditions, and if play stops feeling affordable, the National Problem Gambling Helpline at NCPG (opens in a new tab) is there by call or text at 1-800-MY-RESET (1-800-697-3738).

Partner bonuses via our links, ready to compare

Run the method above on these three offers before you choose. They're offshore casinos, not licensed by any US state, so check your state's law first. Offers are for new players aged 21+ (18+ where allowed), terms apply, and the casino's own pages may show a different package from our link.

• Royal Ace Casino: $2,500 Welcome Bonus + 35 Free Spins, via our link (new players, 21+ or 18+ where allowed, terms apply). Its own terms couldn't be read; one third-party listing (opens in a new tab) reports 30x (deposit + bonus) on slots, 60x on blackjack and video poker, a max cashout of 10x the deposit and $30 card minimums. Third-party reports also say it doesn't accept players from Ohio.
• Slot Madness Casino: $2,500 Welcome Bonus + 50 Free Spins, via our link (new players, 21+ or 18+ where allowed, terms apply). A third-party listing (opens in a new tab) reports 30x (deposit + bonus) on slots, a $30 minimum and no max cashout; it's reported as not accepting Ohio players, and Michigan's regulator named it on August 14, 2025.
• SlotoCash Casino: $6,000 Welcome Bonus + 60 Free Spins, via our link (new players, 21+ or 18+ where allowed, terms apply). Its own welcome bonus terms (opens in a new tab) say 25x (deposit + bonus), $20 minimum per bonus, $10 max bet and no max cashout; Michigan's regulator named it on October 8, 2026.

For comparison, Miami Club's bonus terms (opens in a new tab) list 20x on deposit plus bonus, and Silver Oak's new-member offer (opens in a new tab) lists 30x. Full reviews: Royal Ace, Slot Madness and SlotoCash.

21+ (18+ where allowed). Every casino game has a built-in house edge, so over time you should expect to lose what you stake. Set a budget before you play and stop when it’s gone: responsible gambling tools and free help. Gambling problem? Call or text 1-800-MY-RESET (1-800-697-3738).