The Three Stages
| Stage | Match | Max bonus | Deposit for max | Free spins |
|---|---|---|---|---|
| 1st | 150% | A$1,500 | A$1,000 | 50 |
| 2nd | 50% | A$1,000 | A$2,000 | 50 |
| 3rd | 50% | A$1,500 | A$3,000 | 50 |
Your deposit, the bonus funds, the free spins and withdrawable cash are separate balances. Bonus money only becomes cash once the wagering is done.
Other Conditions
- Real money is wagered before bonus money.
- Neteller and Skrill deposits don’t qualify.
- The bonus must be claimed before any bet with the qualifying deposit.
- A withdrawal request before claiming, or after activating, voids the bonus.
- Activating another bonus, or claiming free spins mid-bonus, removes the current bonus and its winnings.
Game Contribution
| Games | Counts |
|---|---|
| Pokies (except those below), scratch cards, keno | 100% |
| Live games | 10% |
| Video poker | 10% |
| Plinko | 10% |
| Table and card games | 0% |
| Jackpot pokies, Slingo, bingo | Not playable with bonus funds |
A A$100 bet on live blackjack moves the wagering meter by A$10. A A$100 bet on a table game moves it by nothing.
Cost per A$1 of Bonus
This is the number that tells you what the bonus is worth.
| Stage | Example deposit | Bonus | Wagering | Wagering per A$1 of bonus |
|---|---|---|---|---|
| 1st (150%) | A$50 | A$75 | A$4,375 | A$58 |
| 2nd (50%) | A$50 | A$25 | A$2,625 | A$105 |
| 3rd (50%) | A$50 | A$25 | A$2,625 | A$105 |
The takeaway
Stage one is the most efficient part of the package by a wide margin.
On the second and third stages, you wager more than A$100 for every A$1 of bonus.
Worked Example: A$50 First Deposit
A$50 at stage one
- Bonus: 150% of A$50 = A$75
- Balance: A$125
- Wagering: A$125 × 35 = A$4,375
- Pace: about A$438 a day over 10 days, or roughly 4,375 spins at A$1
- Most you can convert: 10 × A$75 = A$750
Assuming a pokie that returns 96%, a common figure but not one specific to Cashed, A$4,375 of wagering has an expected cost of about A$175. That’s more than twice the A$75 bonus. In practice, you need an above-average run within the 10 days for the bonus to pay off.
The free spins run separately. A A$25 win from 50 spins needs A$1,000 of wagering (40x), and no more than A$75 can be converted.
Is It Worth Taking?
On the numbers, only stage one makes a reasonable case, and only for pokies players who were going to play that volume anyway. The 10x conversion cap does leave real headroom if you get lucky, and you can cancel the bonus from your profile at any time.
My take
The sports bonus, at 6x over 30 days, is the better-value welcome offer.
Stages two and three, at more than A$100 of wagering per A$1 of bonus, are hard to justify. Live and table players get almost nothing from any stage. Declining both leaves your deposits free to withdraw once they’ve been wagered once.
The full T&Cs on Cashed’s site cover further details, so read them before claiming. Compare: Cashed sports welcome bonus
Cashed is for adults 18+. A 35x target on a 10 day clock pushes towards longer sessions and bigger bets than most budgets allow, so fix your limits before opting in. Gambling Help Online offers support on 1800 858 858 or at gamblinghelponline.org.au.
Back to the full review: Cashed Casino review