The online casino industry is booming, with hundreds of casinos competing for a larger piece of a nearly $70 billion USD pie. To stay competitive, online casinos are constantly adding new games and new slots offerings, updating promotions and bonus opportunities, and of course, offering match play and free spins!
A recent consumer survey of the online gambling industry indicates that the most popular feature in online casinos today is video slots. As such, many online casinos are continually focusing their efforts on keeping the slot choices up-to-date, adding new slots regularly, and offering plenty of bonus opportunities that focus on slot play. By far, the most popular casino incentive relative to slot gaming is free spins! In fact, almost every online casino offers some sort of spin promotion. However, all free spins are not created equal. We are going to break down how free spins work, and take the guesswork out of this popular casino promo!
Unlike the traditional no-deposit dollar amount promotions and incentives that are nearly exclusive to new players, most online casino's offer spin promotions for both new and loyal customers. With several types of free spins available, we are going to break them down for you.
First, the no deposit free slot spin bonuses for new customers. This is a common promo that many casinos offer to entice new slots players. Since slot play accounts for anywhere between 75% and 80% of total online gambling revenue, many promotions will be geared toward driving new slots players into various gaming sites. These promos are a variation on the classic no deposit bonuses, but players are given a total number of free slot spins, not a dollar amount to play.
Next, deposit-based free spins for new and established customers. These are free spins that are part of a larger bonus incentive. Casinos offer free spins for higher deposit amounts in an attempt to pull more cash into their casino site. For example, players may be offered 100% match play with 10 spins for deposits over $100 and 100% match play with 20 spins for deposits over $200. Other times, casinos may use free spins promos to introduce new slots games, offering 10 free spins on a new slots game with every deposit made over $25.
VIP program free spins. To encourage repeat business, many online casinos offer VIP or loyalty programs. Some programs offer weekly free spins for all active members who made a deposit in the prior week. The higher the VIP level, the higher the number of free spins!
With each type of promotion, there are variables at play. It is important as a player, to read the rules surrounding any spin promo, to truly gauge the worth and value of the specific incentive. For example, some promotions have no playthrough requirements, so if money is won, it is cashable! While this is a fantastic promotion benefit, oftentimes no playthrough, spin bonuses will include a maximum cash payout amount. For example, 20 free spins, no playthrough, max cashout $150.00, which means even if the player "wins" $1000, only $150.00 is cashable. Once the player cashes out their winnings, the non payable amount goes back to the casino
Spin promotions that are tied to deposits typically have a playthrough requirement, which is usually 30x, 40x, or 50x of the match play or deposited amount. For example, if a player deposits $100, and is given $100 match play plus 10 free spins with a 30x playthrough, they player is required to bet $3000 on the slots before winnings are cashable.
New slots spins promotions can vary widely. Many times, to add value and truly promote the new slots game, online casinos will give players a specified number of free spins with no playthough requirement, with all winnings made immediately cashable. These promotions are great - for both the player and the casino. The player can cash out their winnings, and typically, the casino can count on having a new customer, as casino surveys suggested that once players win at a specific casino, they are much more likely to return, rather than seek out a new gaming site.
VIP program based free spins, like new slots promotions, are also quite often immediately cashable, especially when they are not tied to any single specific deposit amount. As a way to incentivize regular gamers to make weekly deposits and play frequently, the spin promotions that are based on VIP levels can be very lucrative.
While free spins promotions and their subsequent payouts can vary widely, they remain the most popular casino incentives offered to players. While the vast majority of players will not cash out huge winnings on free spins, they still serve a purpose. Slot games are fun! They didn't become the #1 casino attraction by accident. The fact is, slot play is simply enjoyable, and sometimes quite exciting!
Spin promotions are also a great way to introduce new slots games to players. New slots promotions also provide casual players the best chance at actually cashing out winnings. Its also a great way to familiarize gamers with new slots as soon as they are added to the casino offerings.
For regular gamers, VIP program spin incentives are the best of both worlds. Providing a player has made a deposit in the past week, the spins are typically simply added to the player's casino account, with no additional deposit necessary. Best of all, the vast majority of the time, players can typically cash out their winnings immediately! However, VIP based spin incentives definitely have a expiration date, so for regular gamers, it's important to check VIP offerings weekly, so you don't miss out on any of your hard earned benefits!
That wraps up our discussion of the various free spins available through incentives! Happy spinning everyone, and please remember to gamble responsibly.