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This is the number of times you'll need to bet the bonus amount before you can withdraw it. For example, if a site offers a 100% match bonus up to $100, and the bonus wagering requirements are 5x, that means you need to wager $500 in total before you can withdraw any of the original $100 first deposit bonus.
What Does Wagering Mean? (Gambling Bonuses Explained)
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You must wager bonus bets to turn them into cash. Then you'll keep any profit from those bets, but not the bonus bet itself. So if you put a $50 bonus bet on the Bucs to beat the 49ers at +400, you'd earn $200 in cash if the Bucs win ($50 x 4.0). If the Bucs lose, the bonus bet just goes away.
How Do ESPN BET Bonus Bets Work? - Action Network
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