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What is this bonus actually worth?

The calculation from the wagering requirements page, on your numbers: multiply the bonus by its multiple to get the amount to stake, multiply that by the house edge to get the expected cost, and compare it to the bonus.

The multiple applies to

Typical online slot: 3 to 6. European roulette: 2.7.

Total you must stake
1,000
Expected cost of clearing
40
Net value of the offer
60

On average this offer is worth taking, before its other conditions.

The result is an average, not a promise: any single attempt can end far from it. A negative net value means the offer costs more to clear than it gives, and the full reasoning lives on the wagering requirements page.

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