Updated on : October 27, 2023
Key Takeaways
- Sweepstakes casinos are defined as casinos where you can play games with virtual currencies.
- The yearly revenue of the online gambling market is estimated to cross the 60 Billion USD mark by 2027.
- The gift cards aren’t flexible like the cash prizes, but there can be advantages, as they frequently have a greater value than the amount.
iGaming, which comprises online casinos, has long become a supplement to online gaming, which many people around the world enjoy. However, for several reasons, only some have access to or wish to play at regular online casinos.
In this article, we present an alternative to traditional casinos in the form of sweepstakes casinos, which can become the preferred type of casino.
When hearing the word sweepstakes, many might think of the type of lottery we’ve seen throughout history. In this context, sweepstakes are a type of contest where the winner can get a money prize. The word sweepstakes relates to the fact that the money prize consists of the stakes given by the competitors.
Today, they are regulated in many countries. This is why people will often experience being met with a general knowledge question to ensure they are eligible to participate in gambling. Whereas sweepstakes are somewhat similar, they are not entirely identical to online casinos. Instead, you play sweepstakes online for money through coins, which is why it is reminiscent of online casinos.
Sweepstakes casinos are defined as casinos where you can play games with virtual currencies. Players will still have to deposit money. However, players will play with virtual currencies in the form of golden coins.
The games will regularly be the same as in online casinos, with games like blackjack, poker, and many more. Some games will even be free when players are offered free bonuses. For those requiring money, players will have to buy a package of gold coins and sweeps coins, and if they win, they can redeem them for real cash.
Not all countries or states allow online gaming, and it is relevant to look at the legal jurisdictions of sweepstakes casinos. All U.S. states except Washington and Idaho allow for these sweepstakes casinos. On these sites, the sweepstakes casinos are regulated by the national sweepstakes laws.
This stands in contrast to the other online casinos, which are only regulated in seven states as of 2023: Connecticut, New Jersey, Pennsylvania, West Virginia, Delaware, Michigan, and Nevada. In other states where iGaming is not allowed, sweepstakes casinos can act as an alternative.
In short, sweepstakes casinos deal with real money and gold coins. Therefore, players can choose between playing with real money or these gold coins. Playing with gold coins is a possibility for those players who want to play games but have no interest in cashing in real money. However, they must opt for the secondary currency if they want to play with real money.
The graph below shows how much revenue the market has made over the years. You can also be a part of this market and fill your pockets out of those greens.
When players win games, there are two ways to cash their prizes: receiving real money or gift cards. Therefore, players need to find a sweepstake casino that meets their needs. Some casinos might offer rewards or bonuses, such as free coins or gold coin packages. Regardless of the players’ needs, knowing where to look for the different requirements is a good idea.
Many sweepstakes casinos used to be available on Facebook, where local communities were established. However, some of those communities still exist, just on other platforms. Today, these sweepstakes casinos are available on separate casino sites with their own operators. It can be tempting to search for sweepstakes casinos.
However, it quickly becomes an overwhelming experience as there are so many. This is why comparison sites can often act as a guide, where sweepstakes casinos are gathered and compared by types of bonuses, games, and much more.
It can be easier for players who have already visited online casinos to participate in sweepstakes casinos. Many of the same games are available, like well-known table games such as baccarat, blackjack, and roulette.
The games can typically feature a standard and a premium mode, where players can skip the ads with the latter version. Other casinos feature tournaments for the games, where experienced players can try out their luck.
When playing, make sure that you are going for a reliable or one of the best internet sweepstakes software providers. Knowing how to redeem the coins for prizes is a good idea. Here is a quick guide:
The gift cards can be emailed within minutes, whereas the cash prizes can take up to two days to be redeemed.
Whereas the gift cards aren’t flexible like the cash prizes, there can be advantages, as they frequently have a greater value than the amount. There are many options if players choose the option of redeeming a gift card.
Some gift cards come from retailers such as Amazon, Apple, and Walmart. Players must ensure they meet the requirements, such as wagering requirements, before they can redeem a gift card. Players also have to check the usage date when getting a gift card.