Frost Wager
The Effective Bonus Rate, explained in full
Method version 1.0 · Applied to all scores on this site
Banks quote an APR so borrowers can compare loans whose fees hide in different places. Casino bonuses have the same problem: a "100% up to C$200" headline says nothing about wagering multiples, game weighting, expiry windows or bet caps. The Effective Bonus Rate (EBR) is our answer — one 0–100 score that prices every offer by the same rules.
The formula
EBR = (adjusted value ÷ face value) × 100, where:
- Face value is the maximum bonus a typical deposit can capture, in Canadian dollars. Tickets and credits are converted at their cash-equivalent value.
- Adjusted value is face value minus the expected cost of conditions.
What the conditions cost
The expected cost of completing a wagering requirement is the total required turnover multiplied by the house edge of the games a typical player uses to clear it. We assume slots at a 4% average house edge unless the offer's weighting rules push players elsewhere. Three further adjustments apply:
- Scope penalty — requirements applied to deposit + bonus (rather than bonus alone) increase required turnover and are costed accordingly.
- Expiry penalty — windows under 14 days lose points because realistic play schedules can't complete them; 30 days or more is neutral.
- Friction penalty — max-bet rules, excluded games and staged releases each shave points based on how much they constrain normal play.
A worked example
| Offer | 100% up to C$200, min deposit C$10, 15× wagering on deposit + bonus, 30-day expiry |
|---|---|
| Face value | C$200 (deposit C$200 → bonus C$200) |
| Required turnover | 15 × (200 + 200) = C$6,000 |
| Expected wagering cost | C$6,000 × 4% ≈ C$240 — but play is funded by the combined balance, and expected loss is capped by what's at stake; our model caps the cost at the balance actually exposed |
| Adjustments | 30-day expiry: neutral · deposit+bonus scope: applied above · weighting: minor penalty |
| Result | EBR 74/100 |
What the EBR is not
It is not a prediction of your result — every game keeps its house edge, and most bonus play ends in a net loss. It is not a "value bet" signal, and a high EBR is never a reason to gamble more than planned. It is simply the fairest way we know to compare one set of conditions against another.
Data and verification
Offer terms are taken from the operator's published terms and re-verified on a fixed schedule; each page shows its last-verified date. Licence claims are checked against regulator registries (MGA, AGCO, AGLC) rather than operator marketing. When terms change between verifications, the operator's current published terms always prevail over this site.
Independence
Frost Wager earns commissions on referrals, disclosed on every page. Commercial relationships never enter the EBR formula: the inputs above are the only inputs. If a partner's offer scores poorly, the score stands. Read the full affiliate disclosure.