Online casinos aren’t naive about marketing and promotional ideas; it’s a meticulous trial-and-error process that they have been chipping away at for over twenty years. They have also stayed ahead of the land-based competition by offering a convenient way to play that often includes consistent promotions and offers that dwarf what is available in more traditional casinos.
Free spins bonuses have positioned themselves as the dominant force in gambling marketing—and while they do exist in some capacity in land-based casinos, the mechanics work a lot smoother in digital gaming. Gambling platforms offering free spins on sign up are the most popular promotions out there in casino gaming.
Within this universe, there are many different free spins ideas, and there are factors to consider that will often distinguish between a decent free spin offer and one that is being used as a tool to simply get you onto their site, with minimal value and no scope.
The concept of free spins
Long before the concept of online casino gaming was unleashed into the gambling industry, many industries used advertising strategies that incorporated some form of try-before-you-buy or buy-one-get-one-free. Free spins are rarely used as the only part of a welcome offer, but they are the easiest to understand, automatically making them one of the most effective.
Once you’re using the online casino, the free spins promotion will open the door for you to explore all the available slot gaming options. While occasionally, free spins might focus on one game as part of a specific promotion linked to that game designer, the vast majority of free spins are all about getting you to that section of the site and advertising the broader library of games on display.
Online casinos have been using free spins promotions with great success since the early 2000s. If you’re registered with several casinos, you’ll see just how prevalent they are in promotions, with a steady stream of emails and advertising often referring to free spins. The fact that they are still so prevalent shows their success as a marketing strategy.
How casinos manage the business of free spins
Although it may seem like a free spins bonus is designed for you to play cost-effectively, plenty of stipulations ensure a casino can put a ceiling on the potential. For instance, free spins games have small max bet amounts. This is often £0.05, but it can be as high as £0.25—depending on the bonus.
So, let’s say you had £10 worth of free spins to use, and you had the option to do one free spin for that amount—if the bonus triggered, and it paid out a jackpot that was 100x or 1000x, this would result in a significant loss for the casino.
The aim is to get you on their site, allow you to play cost-effectively and ensure they do not lose significant sums. It’s hard to disagree with this because they are a business and, at the end of the day, they’re giving you the option to play for a much lower amount than you would if you weren’t using the promotion—but it’s not initially as it may seem. This is why it is always important to read the terms and conditions.
Wagering requirements, betting credits, and other stipulations
In addition to a low minimum bet amount, the terms and conditions include other criteria to ensure the promotion remains attractive while allowing the casino to manage risk accordingly. Free spins can range from a dozen to one hundred spins—depending on the provider and the promotion they’re running.
Any winnings you receive from the bonus will often be paid out in additional free spins or betting credits that can only be used on the site. If the bonus permits you to cash out for real cash, this is known as a wagering requirement and is detailed in the T&Cs as a multiplier.
On average, wagering requirements are about 35x, but they can range from 10x (which is the better end), up to 60x. If you deposited £10, you must play through £600 worth of spins with your betting credits before withdrawing any funds to your bank account. This is one of the many reasons why it is important to familiarise yourself with the terms and conditions before registering for any bonus, whether it is free spins or a different type. On paper the higher number might sound better to a beginner but in reality the lower the number the better in this case!
On top of this, there are also max cashout limitations. So even if you play through wagering requirements and win a significant amount, the max cashout means there is a ceiling to how much you can withdraw (and how much remains in your account as a betting credit or additional free spins). Max cashouts are usually around £50, but in rarer cases, they can reach as high as £100.
Industry-standard marketing
One of the key reasons free spins work as a marketing concept is because they are so revered and widely used across the online casino gaming world. You’d have to search far and wide to find a casino that doesn’t offer a free spins bonus, whether as a standalone marketing tool or fused with other promotional ideas.
Now that they have become industry standard, they have also become one of the most impactful ways online casinos onboard new customers. It’s become a battleground for marketers who work in the industry to piece together ideas that can generate results.
Conclusion—the future of free spins marketing
The iGaming industry does look to be one that follows the market’s appetite, and the rise of cryptocurrency could be one major change that we continue to see in the years to come. But if early indications have shown anything, online casinos that accept cryptocurrency tend to use traditional marketing methods (like free spins). So, while payment methods and digital currencies might be changing and evolving, the industry standard for marketing looks to be sticking to those proven methods that have stood the test of time already.
Even the rise of other avenues, such as influencers pushing products on social media, has resulted in those affiliated with casinos plugging referral bonuses and codes, often including free spins or other goodies. Referral bonuses and codes are a proven way to grow an online casino, as well as many other businesses, and remain at the forefront of marketing campaigns. As they bring in so many new customers, they’re not going anywhere soon, and neither is influencer marketing.
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