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Sweepstakes casinos are popularly known as free-to-play gaming platforms. This is a stark difference from traditional online casinos, which tend to be real-money gambling sites. Does this mean that sweepstakes casinos do not profit?
They are not non-profit organizations, but they use different methods to earn revenue. Here is a look at how sweepstakes casinos make money despite offering free gaming services.
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The “no purchase necessary” laws surrounding sweepstakes
The no-purchase requirement on sweepstakes casinos is the reason they are acceptable in places where real-money gambling is not permitted. Sweepstakes laws prevent social casinos from making it mandatory for players to purchase coins or make other financial contributions before enjoying their favorite games.
Sweepstakes operators can create incentives for purchases as long as the sweepstakes model allows for gameplay without deposits. Other requirements by US laws and regulations for sweepstakes promotions include:
- Players should be allowed free entry if the sweepstakes casino allows purchases.
- Sweepstakes platforms must announce the opening and closing dates for entries.
- Operators should make it clear how and when winners are selected.
- They must announce the date of awarding the prizes and contact the winning entrants.
Sweepstakes revenues from purchases
Under sweepstakes laws, gaming must be free, but operators can provide bundles for purchase while staying in line with sweepstakes rules. Gold coins are often the fuel of these gaming platforms and are the major currency that players can buy.
Players obtain these coin tokens for free upon registration, but only in limited amounts. If you’re a consistent player and a high roller, you can easily exhaust them before the next bonus replenishment. Should this happen, you can purchase more gold coins.
The gold coins package up for sale are the main source of revenue for sweepstakes casinos. Depending on the casino, you can find bundles worth as little as $0.99 or as much as $999. Unlike in regular online casinos, this revenue is not in the form of stakes, and the dynamics do not depend on odds or winning chances. Purchases are non-refundable payments for the opportunity to enjoy popular sweepstakes games.
Why players are comfortable making purchases on sweepstakes casinos
Although one of the major selling points of sweepstakes is the no-purchase requirement, many players still choose to make purchases. Here are some reasons why they find this option appealing.
Ease of transactions
These social casinos are modern businesses using the latest software tools. They are highly mobile-oriented, enabling players to navigate through the site with a smartphone or tablet. It’s just as simple to make a purchase with a few taps. Because it is such an easy and seamless process, players are more inclined to make quick purchases to boost their gameplay.
Lots of games to play
Another major reason registered users exchange their money for these virtual currencies is the array of exciting sweepstakes games available for play. On these platforms, players will find some of the most exciting slots and table games from renowned software providers.
These casino slots come with exciting themes, graphics, and features. Classic table games such as blackjack, baccarat, and roulette are not left out. Buying gold coins will allow players to extend their gaming session and enjoy more of the games they love.
Sweeps coins bonuses
Gold coin packages often come with free sweeps coins bonuses, so players who are looking for this redeemable currency have plenty of motivation to purchase gold coin bundles.
Payments on sweepstakes casinos
On these platforms, every player has a profile from which they can make payments. All they have to do is select “Buy Coins” to make purchases or “Redeem” to redeem prizes.
Just like regular online casinos, sweepstakes payment methods include some of the most popular solutions, such as credit and debit cards, bank transfers, and e-wallets like PayPal and Skrill.
How players win real money in sweepstakes casinos
Players can win real money in sweepstakes casinos. However, to enjoy such wins, they must play in promotional mode funded by sweeps coins. The winnings here are not directly paid as cash prizes but as sweep coins.
Players can redeem the coins for real USD after meeting some requirements for redemptions. First, they may only be able to withdraw a minimum of 50 or 100 sweeps coins, depending on the casino.
Another major requirement is the playthrough condition, suggesting how many times you must play the virtual currencies before they become redeemable. Some will allow you to withdraw any sweep coins winnings after using the bonus sweep coins once. Others will only honor your redemption request if you have rolled over your sweeps coins at least three times.
Another crucial step before you can redeem your cash prizes is KYC verification. Just like regular casinos, sweepstakes sites are looking to create a safe gaming environment. Therefore, they make sure to verify customers’ identities before awarding prize payouts. This means you will need to provide your passport, driver’s license, utility bill or proof of residency.
Every type of online casino, including sweepstakes social casinos, aims to deliver gaming entertainment while profiting from players’ activities. Unless it’s a charity casino, you can be sure that any platform that manages to stay afloat must earn revenue somehow.
For sweepstakes casinos, the major source of revenue is purchases. While the casinos earn money, players also get more coins to play their favorite games and earn free sweeps coin bonuses as well.