Every Lizaro Bonus Rule, With the Arithmetic Done

Lizaro’s promotional shelf is unusual in one respect that matters more than its size: the arithmetic behind it is written down. Version 1.12 of the General Terms and Conditions, dated 19 August 2026, states the multipliers, the withdrawal ceilings, the clearing window and the order in which balances are consumed, in figures, in an annex. This page does the sums those figures imply and shows what each offer is worth once the ceiling is applied.

A note on method, because it changes how much weight the numbers deserve. No bonus was claimed for this page. The evidence here is documentary: the live promotional banners in the English, Polish and French editions of the site, captured on 27 October 2026, and the terms themselves, read clause by clause rather than summarised from a promo page. Where a rule exists, it is quoted. Where one does not, that absence is stated rather than filled in.

The short version

Three numbers govern every casino bonus on the site. Turnover is x35 of deposit plus bonus for a deposit offer and x40 of the bonus for a no-deposit offer. Withdrawals from a cleared bonus are capped at x10 the bonus on the deposit route and x5 on the no-deposit route. The clock runs 10 days for casino bonuses and 30 for sports. Everything else, including the headline €16,000, is a function of those three.

What is on offer, by edition

The first thing to establish is that there is no single Lizaro welcome offer. The headline match percentage holds across editions, but the ceiling, the currency and the second promotion all change with the locale, and the second one changes category as well as amount: a deposit bonus in English, a sportsbook bonus in Polish. Anyone comparing notes across borders will be comparing different products.

Two things follow. First, the match percentage is the only genuinely global figure; quoting one edition’s ceiling as the brand’s offer is wrong in two of the three editions. Second, the Polish second offer sits on the sportsbook, which runs on the 30-day window rather than the 10-day one, so a Polish reader comparing it with the English deposit bonus is comparing offers with three times the clearing time.

There is also a quieter difference in what the editions do not say. None of the three banners carries the wagering multiplier, the withdrawal cap or the window on the banner itself. All three of those live in the terms, which is where the rest of this page comes from. A tier-by-tier walkthrough of the 350% package covers how the match and the spins are structured across the qualifying deposits.

Why €16,000 is a match size, not a payout

The single most consequential clause in the bonus annex is not the wagering multiplier. It is the maximum-withdrawal rule, and it is easy to miss because it is phrased as a multiple of the bonus rather than as a number.

For a deposit bonus, the most that can ever be withdrawn from bonus-derived funds is ten times the bonus amount. The terms give their own worked example to remove any ambiguity: a €10 bonus caps the withdrawal at €100. Everything above the ceiling is removed at the withdrawal stage rather than blocked at the point of play, which means a balance can legitimately grow past the cap during the clearing run and then shrink back to it when the payout is requested.

Apply that to the headline. Reaching the full €16,000 match requires a qualifying deposit of roughly €4,571 at 350%. The ceiling on that bonus is €160,000, which sounds generous until the turnover is calculated alongside it. The headline figure is a statement about how large a match the system will pay, not about how much money can leave the account.

The x35 arithmetic, at six deposit sizes

This is the part the banners leave out, so here it is in full. Turnover on a deposit bonus is x35 of deposit plus bonus, not of the bonus alone, which is a materially heavier requirement than the same multiplier applied to the bonus by itself. At a 350% match, the bonus is 3.5 times the deposit, so the combined base is 4.5 times the deposit, and the turnover works out at 157.5 times whatever was paid in.

Read the last two columns together, because that is where the offer reveals its shape. The withdrawal cap scales linearly with the deposit, and so does the turnover, which means the ratio between effort and ceiling never improves no matter how much is paid in. What does change is the daily pace. A €20 deposit needs €315 of turnover a day to clear inside the window, which is achievable at low stakes. A €500 deposit needs €7,875 a day, which is not a casual pace, and the full-ceiling row needs €71,999 a day, which is a professional one.

That is the honest read on the 350%: it is a small-deposit offer wearing a large-deposit headline. The arithmetic is friendliest down at the small-deposit end, where the cap is modest but the pace is reachable, and it stops being realistic long before the ceiling is reached. If the multipliers themselves are unfamiliar territory, our explainer on how turnover requirements are calculated works through the mechanics without reference to any one operator.

The no-deposit route: x40 and a x5 ceiling

A separate set of multipliers governs no-deposit bonuses. Turnover rises to x40, applied to the bonus amount alone because there is no deposit in the base, and the withdrawal ceiling falls to x5 the bonus. The annex supplies its own illustration: a €20 no-deposit bonus requires €800 of turnover and caps the payout at €100, with anything above that voided when the withdrawal is submitted.

Compared with the deposit route, the no-deposit rules are harsher on the ceiling and lighter on the base. €800 of turnover for a potential €100 is a ratio of eight to one, against the deposit route’s 4.5 to one at the same cap-relative scale. Neither is unusual by offshore standards; the point is that the two routes are not interchangeable and a player who learned the x35 figure from the welcome banner will underestimate a no-deposit offer by a fifth on turnover and overestimate it by half on payout.

One practical caveat on this section. Lizaro does not currently advertise a standing no-deposit bonus on any of the three editions I captured. The x40 and x5 rules sit in the terms ready to govern one, which is how operators normally handle seasonal or support-issued credits, so the figures are worth knowing before accepting anything a chat agent offers.

The ten-day window, and the thirty-day exception

Turnover has to be completed inside a fixed period or the bonus and everything it generated are removed. The window is 10 days for casino bonuses and 30 days for sportsbook bonuses, measured from the point the bonus is credited rather than from first use.

Ten days is at the demanding end of the market, and it interacts badly with the cashier. The finance team has three business days to act on a payout request, so a bonus claimed on a Thursday and cleared on day nine leaves almost no slack between clearing and the payout queue. The cashier limits and payout mechanics page sets out those timings per rail; the relevant point for bonus planning is simply that the clearing clock and the payout clock are separate and only one of them is under a player’s control.

The three-times difference between the casino and sportsbook windows also deserves a flag for Polish readers, whose second headline offer is the sportsbook one. A 30-day window on a sports bonus is a genuinely different proposition from a 10-day window on a casino bonus, and the figures are not comparable just because the match percentage is.

Real money first: the clause that decides where losses land

One sentence in the annex changes the economics of every bonus on the site, and it is almost never mentioned in operator marketing. The Real Money Balance is wagered first and the Bonus Balance second.

Mechanically, that means the deposit is consumed before the bonus is touched. A €100 deposit with a €350 bonus attached does not play as €450 of shared funds; it plays as €100 of real money, then €350 of bonus money, in that sequence. Three consequences follow.

• Losses hit the deposit first. A losing opening session spends real money, not bonus money, so the player is down actual cash while the bonus sits untouched and the turnover counter has barely moved.
• The cash-out option disappears early. Once the real-money portion is gone, the only balance left is bonus balance, which cannot be withdrawn until the full x35 is complete.
• Winning early helps twice. Wins during the real-money phase land in the real-money balance, which extends the phase and pushes more turnover through before the bonus is engaged at all.

The alternative arrangement, where bonus funds are consumed first, lets a player exhaust the bonus and keep the deposit intact. Lizaro’s order does the opposite. It is not a hidden clause, it is stated plainly in the annex, but it is the sort of rule whose effect is invisible until it has already happened.

Withdrawing before the turnover is complete

The terms are blunt here, and the wording matters. Requesting a withdrawal while a bonus is still active forfeits the bonus balance and every win traceable to it. Not the pending amount; the derived winnings as a whole.

Combined with the balance order above, this produces a specific trap. A player whose real-money balance has grown during the first phase might reasonably assume those funds are withdrawable, since they are real money and sitting in the real-money balance. The safe reading of the clause is that they are not withdrawable while the bonus is live, because the request itself is the trigger. The clean way to handle it is to decide before claiming whether this is a bonus run or a cash run, and not to mix the two in one session.

The full rule set in one place

Everything the terms state about an active bonus, collected, with the gaps marked as gaps rather than smoothed over.

The Prohibited Games list

Most casinos handle bonus-unfriendly slots with a contribution percentage: play them and the turnover counts at 10%, or 20%, or not at all. Lizaro takes the blunter route. A named Prohibited Games list applies for as long as a bonus is active, and the titles on it are barred rather than discounted.

The names I found in the annex include 10x Rewind, Le Kaffee Bar, Scarab Treasure, Aztec Emerald, Wild Hearts, Starfang, Guardians of Inari and Cave of Fortune. The list is longer than that and the operator can revise it, which is the reason to check it on the day a bonus is claimed rather than trusting a figure quoted anywhere, including here.

Two observations. The named titles skew towards high-volatility slots and bonus-buy mechanics, which is the pattern across the industry and tells a player roughly what else is likely to be on the list. And because the restriction is binary rather than fractional, there is no partial credit for a session spent on a barred game; the turnover simply does not accrue, and a player who did not check the list may have spent a chunk of a ten-day window on nothing.

No published maximum bet, and why that cuts both ways

Here is the gap I found most interesting. A maximum-stake-while-bonus-active rule is standard across the market, usually set somewhere between €5 and €10, and breaching it is the most common reason a cleared bonus gets voided after the fact. I searched the full terms for one. There is no figure.

The optimistic reading is that there is no cap to accidentally breach. That is genuinely worth something: max-bet confiscations are the single largest category of bonus dispute at offshore casinos, and a rule that does not exist cannot be broken.

The pessimistic reading is the one I would plan around. An unpublished rule is also an unpublished defence. If a cleared bonus is later queried and an agent cites an internal stake limit, there is no clause to point at that says otherwise, and no regulator to take the disagreement to. Since no operator entity, licence or supervisory body is published anywhere on the site, the complaints route runs to the operator’s own desk and then to a commercial mediation portal, which is a different proposition from a licensing authority.

The defensive habit is cheap: keep stakes modest relative to the bonus during a clearing run, somewhere in the range most operators would consider unremarkable, and save a copy of the terms version in force on the day the bonus was claimed. Version 1.12 is already a revision, which tells you the document moves.

One bonus per person, household and IP address

The eligibility clause is drawn widely. A bonus is limited to one per person, per household, per address, per telephone number, per e-mail address, per shared computer and per IP address. Residents of the excluded jurisdictions cannot take any promotion at all.

The breadth is worth taking seriously because it catches honest cases, not just abusive ones. Two adults in the same flat, a student in shared accommodation, anyone behind a carrier-grade network address that rotates across subscribers: all of these can look identical to a duplicate-account check that works on household and IP rather than on identity. The clause does not require intent, and the remedy for a duplicate bonus is removal of the bonus and its winnings.

If a connection is shared with another player, the conservative approach is to assume one bonus between the pair of you and to decide in advance who claims it.

Where the 350 free spins sit in all this

The spins attached to the welcome package are a separate instrument with their own mechanics, and the headline count of 350 is a pooled figure spread across the qualifying deposits rather than a single grant. Winnings from free spins convert into bonus balance and therefore inherit the turnover and the payout ceiling rather than arriving as cash.

That is the point most often misread. A good spin round can produce a satisfying number on screen that is still bonus money, still subject to x35, and still capped at ten times the bonus it belongs to. Our page on how the spin rounds are credited and cleared handles the per-deposit distribution and the eligible-slot question in detail.

The rewards layer, which plays by different rules

Running alongside the bonus system is a gamification layer that does not use the same arithmetic at all, and in some respects is the more interesting half of the offer. Coins accrue from weekly and one-time challenges and from finishing high in in-house tournaments. The Shop converts coins into rewards. The Wheel of Fortune awards spins for wagering on eligible casino games and pays cash, bonus funds or free spins, with the annex committing to a reward on every spin and no empty segments.

The commitment to no empty segments is a real one, written into an annex rather than a banner, and that is more than most gamified casinos put in writing. What is absent is the pricing. Nowhere does the operator publish how many coins a given Shop reward costs, nor the expected value of a wheel spin. A reward that cannot be priced cannot be compared against the bonus it sits next to, which is why I treat this layer as entertainment attached to play rather than as a quantifiable return. The coins, challenges and Wheel of Fortune mechanics are set out in full on their own page.

What the bonus terms do not say

A fair assessment of a promotional system includes the questions it leaves open. These are the ones I could not answer from the published material:

• No maximum stake while a bonus is active. Discussed above; the most consequential omission of the set.
• No game-contribution schedule. The terms bar named titles but publish no percentage table showing how slots, live tables, roulette or video poker each contribute to turnover. On a x35 requirement, a 10% contribution on table games would change the picture entirely, and there is no way to check.
• No published tier breakdown for the 350%. How the match and the 350 spins split across qualifying deposits was not reachable without an account on the day I captured the site.
• No cashback percentage. Five VIP levels exist, provably, because withdrawal limits are set by level. No cashback rate, level-up criterion or benefit schedule is published for any of them.
• No coin-to-reward exchange rate. The Shop exists; its prices do not appear anywhere public.
• No expiry rule for unclaimed offers. The 10-day window governs claimed bonuses; nothing states how long an offered but unclaimed bonus remains available.

None of these is unique to this operator, and several are common enough to be unremarkable. The game-contribution gap is the one I would most like closed, because it is the difference between a turnover figure that can be planned and one that can only be attempted.

Who this bonus system suits

The system matches a narrow player profile well and a wider one badly, and the dividing line is deposit size rather than taste.

It suits the small-stakes slots player funding €20 to €100. At those sizes the daily pace sits between €315 and €1,575, which is reachable in a fortnight of ordinary evening sessions, and the x10 ceiling of €700 to €3,500 is well above anything a player at that level is likely to reach anyway, so the cap never binds. For this profile the published arithmetic is a genuine advantage: the numbers are knowable in advance, which is more than many rivals offer.

It suits the player who reads terms before claiming. The balance order, the Prohibited Games list and the early-withdrawal forfeiture all punish assumption rather than ignorance, and all three are plainly stated for anyone who looks.

It suits the sportsbook-leaning Polish player better than the equivalent casino player, purely because 30 days is three times 10 and the second headline offer in that edition runs on the longer clock.

It fits the mid-stakes player depositing €500 or more poorly. We do not recommend claiming the 350% welcome match on deposits at or above €500, because €7,875 of daily turnover for ten consecutive days is the commitment that buys a €17,500 ceiling, and the ratio between effort and headroom is identical to the one available at €50. The deposit buys a bigger number, not a better deal, and the pace required to clear it pushes play beyond what most people at that level would choose unprompted. Depositing without the bonus keeps the balance withdrawable and the stake sizes free.

It fits the player who wants certainty about what counts poorly as well, for as long as the game-contribution schedule stays unpublished.

If you are deciding right now, the practical sequence is short. Work out what you would deposit without any bonus at all. Multiply it by 157.5 to see the turnover a 350% match would attach to it, divide by ten to get the daily pace, and ask honestly whether you would play at that pace for a week and a half. If the answer is yes, the published arithmetic is on your side. If it is no, decline the match and keep the cash withdrawable, which is a perfectly ordinary way to use a casino and costs you nothing but a headline.

Sources

• Lizaro’s General Terms and Conditions, version 1.12 (19 August 2026) and the live promotional banners: read on 27 October 2026; the origin of every multiplier, ceiling, window and named title quoted on this page.
• Casino Guru’s bonus and terms database: independent coverage of how wagering multipliers and maximum-withdrawal caps are assessed across offshore operators, and the basis for calling x35 and a ten-day window demanding rather than typical.
• GambleAware: free, independent guidance on gambling spend and on recognising when a bonus chase has stopped being a leisure decision.

Frequently asked questions

How much turnover does a €100 deposit bonus require?

€15,750. The x35 multiplier applies to deposit plus bonus, so €100 plus a €350 match gives a €450 base, cleared within ten days.

What is the most a Lizaro bonus can pay out?

Ten times the bonus amount on a deposit offer, five times on a no-deposit offer. Anything above the ceiling is removed when the withdrawal is submitted.

Is there a maximum bet while a bonus is active?

None is published. The terms set no stake ceiling for bonus play, which also means no clause protects a player if one is cited later.

Which balance is spent first, the deposit or the bonus?

Real money first, bonus second. The deposit is consumed before the bonus is touched, so early losses come out of actual cash.

Can bonus funds be cancelled part-way through?

Requesting a withdrawal while a bonus is live forfeits the bonus balance and all winnings derived from it. There is no partial exit.

Are any slots barred during a bonus?

Yes. A Prohibited Games list applies, naming titles such as 10x Rewind, Scarab Treasure and Cave of Fortune. Barred, not discounted.

Do the welcome figures differ between countries?

Yes. The 350% match holds everywhere, but the ceiling, the currency and the second promotion change by edition, and the Polish second offer is a sports bonus.

Can two people in one house each claim a bonus?

No. Eligibility is one bonus per person, household, address, phone, e-mail, shared computer and IP address, regardless of intent.

Do games contribute differently to wagering?

No contribution schedule is published. The terms bar named titles outright but give no percentage table for slots, tables or live play.

How long is the clearing window?

Ten days for casino bonuses, thirty for sportsbook bonuses, counted from crediting. A part-cleared bonus is voided in full when it expires.