Numbers Before Narrative: Why Bonus Ledger Exists
We read the terms sheet before the marketing page, then show you the arithmetic. Here is who writes this site, how we work, and where the line sits between a free bonus and a free trial.
By Owen Delacroix · Reviewed by Hannah Whitmore · Updated July 20, 2026
Our mission, stated plainly
The arithmetic behind the headline number
Bonus Ledger explains how no-deposit casino bonuses actually work in the United States: what they pay out, what they cost in wagering, and where the law currently stands in a given state. We built this site because most bonus pages lead with the headline number and bury the arithmetic that determines whether that number means anything. A $25 no-deposit bonus at 40x playthrough requires $1,000 in wagers before a withdrawal is possible. That single calculation, not the $25, is the fact that should drive a reader's decision.
Two markets, kept separate
We cover two distinct markets and keep them separate rather than blending them into one vague "bonus" category. Sweepstakes, or social, casinos run on a dual-currency model available in roughly 40 states, generally for players 18 and older, though a growing list of states, including California under Assembly Bill 831 (effective January 1, 2026), along with Washington, Connecticut, Montana, New Jersey, and Michigan, have restricted or banned that model. Real-money online casinos, by contrast, operate under state gaming licenses in only eight states, with a minimum age of 21 everywhere; Maine became the eighth in 2026, through a tribal-exclusive framework still in rollout. Confusing the two markets produces bad reader decisions, so we don't.
Independence: what we do and do not accept
Bonus Ledger does not hold affiliate agreements with any casino, sweepstakes operator, or payment processor. We do not accept payment for placement, and we do not rank or recommend specific brands. That is a deliberate constraint, not a marketing claim: the moment a site earns commission on signups, its incentive shifts toward encouraging play rather than describing it accurately. We built this site to avoid that conflict entirely, which is also why you will not find a "claim now" button anywhere on it.
Our revenue, such as it is, comes from standard display advertising, unconnected to any single operator's performance. No individual casino's signup numbers affect our editorial calendar or our conclusions. This is the least dramatic sentence on the page and also the most load-bearing one: nothing here is written to move a reader toward a signup, and no paragraph is scored on click-through.
How we work: sourcing and update cadence
Where our numbers come from
Every figure on this site traces back to a public source: the IRS for tax thresholds and reporting rules, the Federal Trade Commission for sweepstakes and promotions guidance, the American Gaming Association for industry and legality overviews, and the National Council on Problem Gambling for responsible-play resources. We do not invent statistics, and where a number is uncertain or state-dependent, we say so rather than rounding it into false precision.
How often we update, and who checks the work
State law in this space moves fast. The 2026 W-2G reporting threshold rose to $2,000 from the long-standing $1,200 figure set in 1977, and six states adjusted or banned sweepstakes-casino rules in the same window, with a seventh (Oklahoma) scheduled for November 1, 2026. We review every published page on a rolling basis and update the "dateModified" stamp whenever a fact changes, rather than leaving stale numbers live because a page performs well in search.
Owen Delacroix, lead writer, builds each guide's numbers directly from operator bonus-terms pages, state gaming regulator filings, and the specific statutes cited throughout this site, then runs the wagering and expected-value math by hand rather than repeating a vendor's marketing claim. Hannah Whitmore, reviewer, checks every cited figure, tax threshold, and state-law claim against its primary source, IRS, FTC, or a state gaming board, before a draft is scheduled. The publication standard is simple: if a claim can't be traced to a regulator, a statute, or a government tax page, it doesn't go on Bonus Ledger. That standard occasionally makes our pages less exciting than a marketing blog. It also makes them more useful.
Responsible gambling comes first, not last
Nothing on this site is designed to encourage anyone to gamble who is not already choosing to, and we are explicit that gambling of any kind, sweepstakes or real-money, carries real financial and personal risk. If gambling has stopped feeling optional, or if you are gambling to chase losses, help is free, confidential, and available 24 hours a day: call or text 1-800-GAMBLER. You can also reach the National Council on Problem Gambling at ncpgambling.org/help-treatment for state-specific resources and support programs.
We treat this section as mandatory context on every page that discusses a bonus, not as a footnote required by convention. The math we publish, wagering multiples, redemption minimums, expiry windows, exists to help readers see a bonus's realistic value before they commit time or money to clearing it.
Contact us
Questions, corrections, or a fact you think we've gotten wrong: email us at [email protected]. We read every message and correct verified errors promptly, with the dateModified stamp on the affected page updated to match. If you are a state regulator or a representative of a source we've cited and need to flag an inaccuracy, that same address reaches our editorial team directly.
Bonus Ledger is an independent information site. We are not a casino, not a sweepstakes operator, and not a state gaming regulator, and nothing on this site is legal, tax, or financial advice. For those, consult the IRS, your state regulator, or a licensed professional.