Everything you need to know about free spin promotions
First some brief history about online casinos.
It all started as soon as 1994 when the Caribbean twin-island country Antigua and Barbuda got through the Free Trade & Processing Act. This law opened up the possibility for online casino organizations to be granted licenses if their applications were successful.
The first online casinos can agree that the first couple of years were rather bumpy, the real popularization of online gambling didn’t see a breakthrough until the late 90s. By 1997, there was around 200 online casino websites, and the evolvement of this industry took off in a way that couldn’t even be imagined. In a report revealed by Frost & Sullivan, revenues in the following year were up $830 million, and those numbers consider 1998 alone. Around 2001, it is believed that the number of people involved in online gambling was around shocking 8 million. The industry has been growing at a pace like none other in the history of time.
The revenue numbers we saw for 1998 exploded throughout the years and by 2008, the total revenue was around $21 billion.
In 2010, the amount of operating online casinos were over 865.
The next year was historic; a Norwegian student hit the jackpot of €11.7 million playing the slot machine Mega Fortune at Betsson.
The digital world is the fastest-changing environment, and it didn’t take long until the majority of online casinos had adapted their mobility, in 2013 most online casino games could be enjoyed on several smart devices.
And the future of online gambling? It’s already here; gambling has been more and more accepted as a social activity and Casinos are now rapidly evolving towards “Social gambling.” Players can now interact with each other making the whole experience feel realer than ever, especially with the VR technology that is becoming a huge trend in 2016.
Now to something more exciting, what are free spins?
They are actually nothing more than a warm welcome, a chance to try out the casino at hand before you choose to deposit any money.
They credit your account with usually 20 – 250 free spins as soon as you register, each turn is played on one of their eligible games for the maximum amount of lines. I say eligible games because the Casinos regularly hand pick the games on which the free spins can be played.
Technically, a free spin bonus works the same as if you would make a deposit and play for real money. The free spins allow you to win real money in the end just like regular money does; the only difference is that there is a wagering requirement bound to them. Meaning if you win $100, and the wagering requirement is set to 20x, you have to turnover (play through) $2000 before you are qualified to make a withdrawal.
The whole wagering thing might seem like a difficult requirement to pass, but turning over money on slot machines goes much smoother than one can imagine.
So yes, you can make money without the need to invest any money at all, and the best thing is that you get to keep all your winnings. Some people are even making a fancy living out of hunting down free spin offers on a daily basis. The Casinos normally have new promotions now and then including new free money packages, making it possible for players seeking a free ride to maintain a luxurious lifestyle.
What’s the difference between free spins and no deposit bonuses?
With free spins, you don’t have as much control as you have with no deposit bonuses. A no deposit bonus is literally the same thing as free money. You get around $5 – $20 to spend any way you like. It does, however, come with a wagering requirement similarly to the free spin bonuses.
With a free bonus of this kind, you have the free choice to spend them any way you like; you are not limited to selected games.
And to clarify the function of a free spin, the only thing you get to do is spin the reel on one of the eligible slots. Of course, you can split up your spins in any way you prefer. You might spend half of them on Starburst for instance, and the other half on another slot, giving you the possibility to try as many games as possible before you make a real deposit.
How long does it take before my account gets credited these free gifts?
It depends on the casino of choice, in our free spins guide, we have included the amount of time it takes to get the free bonus credited.
Normally this happens instantly or as soon as you verify your email address. Some casinos might let you wait up to 48 hours or longer though, so just throw an eye to the time column as we have already included this information for each casino in our free bonus list.
Can I hit a progressive jackpot using free spins or free bonuses?
Casinos have already thought about this loophole, and it wouldn’t be realistic nor fair for free spin players to scoop a jackpot. Since free spins automatically activate the maximum number of lines on a slot machine, the possibility to hit a jackpot would be higher than normal.
Though as mentioned earlier, Casinos have a few selected games on which the free bonuses are eligible, and these games are exclusively non-jackpot games.
Has anyone actually made any money with these free spins?
The popularity of these free sign up bonuses is greater than ever, and these promotions are here to stay. That leaves us with only one logical conclusion; we are living in a digital world in 2016, and the online casinos don’t want any bad reputation linked to them. If there weren’t real money to be made with these free welcome bonuses, these casinos would be called out a long time ago.
In other words, casino managers are smart; they wouldn’t put something out in the world unless their audience truly appreciates it.
Having been in the business since the early days of online casinos, we know for sure that people are making a living on playing free spins.
Give it a try yourself; you don’t have anything to lose.