Bonus analysis glossary
Terms vary. The accepted offer and platform rules control.
Acquisition: Gaining a new customer. An acquisition offer may require first registration, deposit, or qualifying wager and exclude existing accounts.
American odds: Positive odds state profit on $100; negative odds state the stake needed for $100 profit. See the formula sheet.
Bankroll: Money deliberately allocated to gambling, excluding essential funds and restricted promotional balances.
Bonus balance: Promotional value or restricted winnings. It is not withdrawable cash unless the platform says so.
Bonus bet: An operator-supplied sportsbook stake. Common forms return winnings but not promotional stake and restrict odds, markets, splitting, or expiry.
Bonus credit: Promotional value governed differently from cash, often through playthrough or special settlement.
Bonus-only wagering: Applying the multiple only to bonus value, not deposit plus bonus.
Breakage: Value that expires, goes unclaimed, fails to convert, or settles at zero.
Break-even probability: The win rate where EV is zero. For an ordinary cash wager at decimal odds D, it is 1 / D.
Cash-equivalent value: Modeled withdrawable value after playthrough, expiry, caps, and conversion risk, not displayed face value.
Cashback: A return on defined eligible loss. Payment form, netting window, rate, and cap control value.
Completion probability: Estimated chance of finishing required steps before expiry without exhaustion or rule failure.
Contribution rate: Progress credited per eligible dollar staked. It does not measure RTP.
Conversion cap: Maximum restricted value or winnings that can become cash.
Conversion rate: Expected or equalized cash divided by promotional face value, not full-promotion ROI.
Correlation: Dependence that can make positions win or lose together and concentrate risk.
Decimal odds: Total cash return per unit staked, including returned stake. At 2.50, $10 returns $25 and profits $15.
Deposit match: Credit calculated from an eligible deposit, usually subject to a cap and conversion terms.
Drawdown: Decline from a bankroll’s previous peak rather than from its starting value.
Eligible handle: Actual qualifying stake volume, which can exceed published progress after contribution adjustments.
Eligible loss: Loss included after a cashback or insurance rule’s exclusions.
Expected value (EV): Probability-weighted average net outcome under stated assumptions, not a prediction or profit guarantee.
Expiry: When an offer, credit, claim, or required action ends. Record timestamp, time zone, and settlement rule.
Face value: Displayed promotional amount before conversion restrictions, not necessarily cash value.
Free spins: Promotional casino rounds with fixed game and stake rules. Winnings may be restricted.
Game weighting: Contribution rates by game or wager type. It measures progress, not return or variance.
Handle: Total staked, including reused returns, not deposits, losses, or current exposure.
Hedge: A position offsetting another’s outcome exposure. It adds liquidity and execution risk and may be prohibited.
Hold: Sportsbook revenue relative to handle in many reports, but sometimes a loose name for pricing margin. Check the formula.
House edge: Modeled casino loss per dollar, commonly 1 - RTP, not a session prediction.
Implied probability: A price’s break-even rate, 1 / decimal odds, which may differ from true probability.
Insured bet: A cash wager with conditional loss reimbursement that may be restricted or convert to zero.
Kelly fraction: Bankroll fraction based on edge and odds for modeled long-run growth, highly sensitive to probability error.
KYC: “Know your customer” checks of identity, age, address, payment ownership, or withdrawal activity.
Liability: Cash a lay position loses if the named selection wins, often more than displayed lay stake.
Liquidity: Cash available for deposits, hedges, settlement gaps, and withdrawals.
Matched betting: Combining permitted opposing wagers to reduce variance while acquiring or converting value. Execution can break the equalization.
Maximum bet: Largest permitted wager, possibly measured by round, ticket, event, or aggregate position.
Net loss: Qualifying stakes minus returns within a defined period. Deposits and withdrawals are not gaming results.
Non-sticky bonus: Bonus value that can convert after completion, subject to cancellation and caps.
Opt-in: Required enrollment action, such as selecting an offer or entering a code.
Playthrough: A wagering or rollover requirement. Identify its base, multiple, eligible activity, and completion event.
Positive EV: Average net outcome above zero under the model, with actual loss still possible.
Published target: Required progress before contribution adjustments, not always actual handle.
Qualifying bet: Cash wager meeting all offer conditions, including opt-in, timing, odds, market, stake, funding, and settlement.
Reload: Existing-customer deposit promotion requiring a fresh review of terms and affordability.
Return on investment (ROI): Expected net value divided by a stated cash-at-risk denominator.
Return to player (RTP): Modeled long-run payout per dollar for a specific game and configuration, not a session guarantee.
Risk capital: Money that can be lost fully without affecting essential commitments.
Rollover: A wagering requirement whose base and eligible activity must still be identified.
Site credit: Platform value with separate wagering, settlement, and conversion rules.
Stake not returned: A winning promotional wager pays only profit; face stake is removed.
Standard deviation: Square root of variance, expressing spread in outcome units such as dollars.
Sticky bonus: Promotional principal removed at completion or withdrawal rather than converted.
Stop condition: Preset loss, time, liquidity, record, or behavior threshold that ends activity.
Theoretical loss: Eligible handle times modeled edge, an average rather than a predicted result.
True probability: Estimated outcome likelihood, distinct from a price’s implied probability and always uncertain.
Unit: Standard preselected stake amount used to compare bankroll exposure.
Variance: Spread of possible results around EV. Equal EV or RTP need not mean equal risk.
Wagering requirement: Turnover required before conversion or withdrawal, defined by base, multiple, contribution, and deadline.
Withdrawable balance: Amount eligible for request but not received until payment clears.
Withdrawal lock: Restriction preventing withdrawal or canceling active promotional value if one is requested.