A playthrough requirement (also called rollover) is the amount you must wager before a sportsbook bonus becomes withdrawable cash. A deposit match is worth the bonus minus the expected cost of that wagering, and that cost is the total you must wager times (1 - payout) of the markets you bet. For example, a $200 bonus with a 5x playthrough at -110 costs about $45.45 to clear, so it is worth about $154.55.

How does a deposit match bonus work?

A deposit match adds bonus funds in proportion to your first deposit, up to a cap. With a hypothetical "100% deposit match up to $200", a $200 deposit gets $200 in bonus funds and a $100 deposit gets $100. A "50% match up to $500" pays $0.50 per dollar deposited, so you would need to deposit $1,000 to get the full $500.

The bonus funds usually cannot be withdrawn straight away. The terms set a playthrough requirement first, and that requirement decides what the bonus is really worth. Some sportsbooks pay the match as bonus bets instead of bonus funds; those carry no playthrough on the winnings, and you convert them as explained in how to convert bonus bets into cash.

What does the playthrough multiplier apply to?

The multiplier tells you how many times something must be wagered, and the "something" matters as much as the number:

• On the bonus only: 5x on a $200 bonus means $1,000 of wagering.
• On bonus plus deposit: 5x on a $200 bonus and a $200 deposit means $2,000 of wagering, twice the cost for the same bonus.

Read three more lines of the terms before you deposit:

• Minimum odds: for example, only bets at -200 or longer count, so heavy favorites do not reduce the requirement.
• Eligible markets: some promos exclude certain sports, live bets or parlays, or count a parlay only above a minimum number of legs.
• Time limit: the requirement must be met within a set number of days, or the bonus and its winnings are removed.

Sportsbooks often also exclude bets that are voided, cashed out, or placed on both sides of the same market at that sportsbook. The promo terms are the rule, not this article.

How do you calculate the cost of a playthrough?

Every market at a sportsbook carries a hold, also called the vig: the sum of the implied probabilities of its outcomes minus 100%. A spread priced -110 on both sides implies 52.38% for each side, 104.76% together, so the vig is 4.76%. The payout is 100% / 104.76% = 95.45%: on average, every dollar wagered on that market returns about 95.45 cents and loses about 4.55 cents. Hence:

Expected cost of the playthrough = total to wager x (1 - payout).

Note that 1 - payout (4.55% at -110 / -110) is a little smaller than the vig (4.76%). That is not an error: the vig is measured on the 104.76% book, while the cost is measured on each dollar you actually wager, which is why the playthrough calculator asks for the payout.

Worked example, with hypothetical terms:

1. Deposit $200 and receive a $200 deposit match.
2. The playthrough is 5x on the bonus only: 5 x $200 = $1,000 to wager.
3. Bet at -110 on markets priced -110 on both sides (vig 4.76%, payout 95.45%): $1,000 x (1 - 0.954545) = $45.45 expected cost.
4. The bonus is worth about $200 - $45.45 = $154.55.
5. If the same 5x applied to bonus plus deposit, you would wager $2,000, at an expected cost of $90.91, and the bonus would be worth $109.09.

The playthrough calculator does this for any bonus: enter the bonus, the deposit, the multiplier and the payout of the market you bet, and it shows the total to wager, the expected cost and the expected value of the bonus. To find the payout of a market, enter its prices in the no-vig calculator.

How much is a $200 bonus worth at different multipliers and holds?

For example, a $200 bonus with the playthrough on the bonus only, wagered on two-way markets priced the same on both sides (expected values, before any hedge; "cost" is 1 - payout, the share of each dollar wagered that you expect to lose):

Playthrough	Total to wager	-105 / -105 (vig 2.44%, cost 2.38%)	-110 / -110 (vig 4.76%, cost 4.55%)	-120 / -120 (vig 9.09%, cost 8.33%)
1x	$200	$195.24	$190.91	$183.33
5x	$1,000	$176.19	$154.55	$116.67
10x	$2,000	$152.38	$109.09	$33.33
15x	$3,000	$128.57	$63.64	-$50.00

Two things stand out. The multiplier and the cost per dollar multiply each other, so a high playthrough on high-hold markets can make a bonus worth less than nothing: at 15x on -120 / -120 markets the expected cost ($250) is larger than the $200 bonus. And the cheapest way to improve any row is to bet lower-hold markets, which is why low hold betting matters so much for promos.

Why hedge the playthrough bets?

The figures above are averages. Wager $1,000 on single bets without a hedge and you can finish far above or far below the expected cost, and a losing run can empty the balance before the requirement is met. Hedging each qualifying bet with a bet on the other outcome, at another sportsbook or on ProphetX (a prediction market), locks in the result of every bet: you lose a small, known amount whoever wins.

The catch: only the bet at the promo sportsbook counts toward the playthrough, while the hedge is extra money staked elsewhere. So a hedge is cheap only when the two prices are close. For every $100 wagered at the promo sportsbook, for example:

• -105 hedged at +100: hedge stake $100 x 1.9524 / 2.00 = $97.62. If the sportsbook bet wins you collect $95.24 and lose the $97.62 hedge; if the hedge wins you collect $97.62 and lose the $100 bet. Either way you are down $2.38. For the $1,000 playthrough that is $23.81, and the $200 bonus is worth $176.19, fixed.
• -110 hedged at -110: hedge stake $100, loss $9.09 per $100 wagered, $90.91 for the $1,000 playthrough. Hedging a wide pair costs twice the unhedged average.

So the aim is a hedge on a tight pair of prices across two sportsbooks, or a sportsbook and ProphetX. You can enter both prices by hand in the matched betting calculator, or let the tools search for them.

How does the Bet Finder help with a playthrough?

1. Open the Bet Finder and pick the promo sportsbook as the first sportsbook.
2. Choose the Playthrough mode and enter your balances and the amount still to wager in Left to Wager.
3. Set the minimum odds from the promo terms in the filters, so every pair you see qualifies.
4. Pick a pair near the top of the list, place the sportsbook bet first, then the hedge with the stake the tool shows.
5. Update Left to Wager after each bet and repeat until it reaches zero.

In Cash mode the same tool shows the plain cost of each hedged pair: a rating of 97.62 means you keep $97.62 of every $100 bet at the sportsbook, so the pair costs $2.38 per $100 of playthrough. The free account uses the Bet Finder with DraftKings and ProphetX; Premium unlocks every sportsbook in your state. Results are an estimate rather than a promise: prices move between the two bets, and a hedge placed at a worse price costs more.

Is a deposit match worth it?

Usually, when three things line up: the multiplier applies to the bonus only or is small, the minimum odds let you bet near even money, and you have time to clear the requirement before it expires. Price it before you deposit: the playthrough calculator gives the expected value, and a hedge on a low-hold pair keeps the real cost close to it. If the expected value is small or negative, skip the promo; there are other offers on the welcome offers page, each with a step-by-step guide.

Frequently asked questions

Is playthrough the same as rollover?

Yes. Playthrough, rollover and wagering requirement all mean the amount you must bet before a bonus can be withdrawn.

Does the hedge bet count toward the playthrough?

No. Only the bet placed at the sportsbook that gave the bonus counts toward its requirement. The hedge sits at another sportsbook or on ProphetX, which is why a tight pair of prices matters.

What payout should I use in the playthrough calculator?

The payout of the markets you actually bet. Enter both prices in the no-vig calculator: a -110 / -110 market has a vig of 4.76% and pays 95.45%, a -105 / -105 market has a vig of 2.44% and pays 97.62%.

Do parlays clear a playthrough faster?

Each parlay counts once at its stake, and parlays usually carry a higher hold than single bets, so they tend to make the requirement more expensive, not cheaper. Check whether the terms count them at all.

What happens if I withdraw before finishing the playthrough?

Under most terms the bonus and the winnings made with it are forfeited. Read the promo terms before requesting a withdrawal.

Is a bigger deposit match always better?

No. A larger bonus with a 15x playthrough on bonus plus deposit can be worth less than a small bonus with a 1x playthrough. Compare expected values, not headline amounts.

Sources

• NinjaBet free calculators: playthrough calculator and no-vig calculator (the formulas used in this article).
• NinjaBet tools: Bet Finder (Cash and Playthrough modes), matched betting calculator.
• NinjaBet.com help center: Which US states does NinjaBet support? and the guide How to use ProphetX.

You must be 21 or older (18 in a few states) to bet in the United States, and bet only with operators licensed in your state. Gambling can be addictive: if you or someone you know has a gambling problem, call or text 1-800-GAMBLER, or the National Problem Gambling Helpline at 1-800-MY-RESET (ncpgambling.org), free and confidential, 24/7. Results vary and require time and capital; this article is information, not financial or legal advice. Last updated: October 12, 2026.