The iGaming industry is a term commonly used to describe real money betting and gaming sites, such as online casinos, dedicated poker sites, bingo & lottery sites, and sportsbooks, all of which operate in regulated gambling markets.
The online casino industry, for example, is highly competitive, and there are now hundreds, sometimes thousands, of legally permitted online casinos for players to choose from, and there are over 120 different companies that specialise in developing and/or supplying games, such as online slot machines, to these sites.
With so many sites to choose from and so many games to play, it’s often difficult for players to choose which site might be worth joining, and if the site they have joined is the right one.
Therefore, iGaming operators and software providers/game development studios must always look for innovative ways to stand out from the crowd and gain a competitive edge over their rivals to boost retention, which means devising clever strategies to ensure people continue coming back to their website to play their favourite games, but also try new ones.
One of the ways they do this is to offer free spins without wagering requirements, which gives players a chance to play selected games for the chance to win real money. With that said, let’s dive straight in and learn more about how no-wager free spins have become an effective incentive to help boost player retention.
What wagering requirements?
Most online casino operators these days offer new and existing players free spins bonuses to try out some of their selected online slot machines in the real money mode, meaning they can use those free spins to try and win more money, no strings attached.
However, most free spins bonuses come with what many people refer to as wagering requirements, which are also known as rollover, turnover, or playthrough requirements. It all means the same thing.
The wagering requirement is there to protect operators and prevent players from receiving free spins, landing a huge win, and then simply withdrawing that money straight away and spending it elsewhere.
If every player who received free spins ended up winning big and withdrawing straight away like this, iGaming operators would quickly go out of business.
Therefore, instead of being able to do this, players must wager their winnings X amount of time first, which is typically anywhere from 20x to 50x times (always remember, the lower the better).
If you end up winning $/€/£20 from your 10 free spins for, say, the Book of Dead online slot machine, and each free spin was valued at $/€/£0.10 (or equivalent currency value), then instead of being able to simply withdraw your $/€/£20 winnings, you must first complete the wagering requirements.
If the bonus comes with a 20x wagering requirement attached, and you win $/€/£20, then you would need to wager $/€/£400 before you could withdraw, but if you win $/€/£100 with a 20x wagering requirement, then you would need to wager $/€/£2,000, and so on.
If you have any winnings left over in your account AFTER the wagering requirements have been cleared within the time given (can be anywhere from 24 hours up to one month), then you are now free to withdraw the winnings or spend as you please on the website.
Are there any free spins bonuses with zero wagering requirements, and if so, how do they boost player retention?
Yes, there is such a thing as zero wager-free spins, also known as free spins with no wagering requirements, meaning that any winnings you make from your free spins don’t have to be wagered a specific number of times before you can cash out.
These highly lucrative online casino bonuses are the most sought after by players for obvious reasons.
Although it’s risky for operators to offer zero-wager free spins on a regular basis, especially if players keep on winning and withdrawing straight away, it has become a highly effective marketing strategy for boosting retention.
In other words, players who see the true value of these bonuses are more likely to return to that same site in future and spend money on that site rather than play their favourite games on another rival iGaming platform that doesn’t offer zero wager free spins bonuses.
Market-leading iGaming operators tend to strike up exclusive deals with the top-tier companies that make these games, which is why you can often find many online casinos that offer new players free spins for certain well-known online slots, such as the aforementioned Book of Dead slot from Play’n GO.
Even if players don’t win more money using their free spins, and they enjoy playing that game (which they normally do because it is such as popular online slot), there’s a good chance they will deposit money in future to try out other slots, and they will keep on coming back in future to that same site in hope of being rewarded with another zero-wager free spins bonus.
Bonuses like this are also ideal for software providers who release new games because zero-wager free spins bonuses give players the chance to try out these games without any risk involved.
Final thoughts
The important thing to remember about online casino bonuses that come with zero wagering requirements attached is that they are a great way to hook players in and get you spending money, but to ensure you keep things safe and fun on any sites that you decide to join, don’t forget that there are many safer gambling tools available that you can use to ensure you always remain well within any sensible spending budget that you decide to set before depositing and playing.
Also, before joining a new online casino just because you like the sound of the generous no-wagering free spins bonus, you should always do your own due diligence and read the expert reviews first to determine if the site is safe or not.
