How is the value of free spins calculated and is it worth using them?
The popular offer of free spins has become a real turning point. Here’s a brief story about free casino spins. Nowadays, free spins divide players into two camps, so we investigated whether they are worth using and how their value is determined.
The value of free spins depends on many factors
Ultimately, determining the value of free spins does not require a nuclear physicist's credentials. The calculation is quite simple, as it mainly involves four variables, which are:
- Number of free spins
- Bet per spin for free spins
- Return to player percentage (RTP) of the designated game
- Wagering requirements
First and foremost, the number of spins given affects the outcome. 100 spins is more than 10, but on the other hand, this does not tell the whole truth. Namely, 10 super spins at a €2.00 stake is fundamentally more than 100 spins at a €0.10 stake.
More differences arise from the selection of promotional games. On some gaming sites, free spins may be given for one game, while on others, players can choose their favorites from dozens of games. In this case, the variety of choices and the different return percentages of the games provide opportunities for healthy strategizing.
Last but not least, the wagering requirements come into play. The lower the wagering conditions, the better the chances a player has to win. In other words, such spins are also better in terms of expected value and monetary value.
This is how the monetary value of free spins is calculated
The formulas can be divided into two parts. Let's first start with free spins without wagering requirements.
The number of free spins (A) is multiplied by the bet per spin (B), and the result is multiplied by the game's return percentage (RTP). If a player is given 100 free spins worth €0.10 per spin on a game with a return percentage of 95%, the formula would look like this:
A x B x RTP = 100 x 0.10€ x 0.95 = 9.50€
If the wagering requirement were 10 times the winnings from the free spins, the calculation would proceed as follows:
| Winnings | 9.50€ |
|---|---|
| Wagering | 10x |
| Wagering requirement | 95.00€ |
| Bet per spin | 1.00€ |
| Spins required for wagering | 95 pcs |
| RTP of the selected game | 95% |
| Calculated loss per spin | stake x RTP = 0.05€ per spin |
| Cost of wagering | 0.05€ x 95 spins = 4.75€ |
| Cash left after wagering | 9.50€ - 4.75€ = 4.75€ |
From the formula, it can be seen that even small changes in the return percentage or wagering requirement significantly affect the outcome. For example, playing games with a 90% return would yield a calculated profit of zero in the long run. The same applies to a wagering requirement that is 20 times. If the expected value is negative, the player is most likely left licking their wounds.
How to effectively utilize free spins – strategy and tips
In summary, the most important variables when utilizing free spins are the wagering requirements and the return percentages of the games. Additionally, we could highlight no deposit free spins, as in these bonuses, players have only to gain.
The higher the RTP of the game, the less the player's bankroll is consumed for each spin that needs to be wagered. Conversely, the lower the game's wagering requirements, the less bonus money needs to be sacrificed in the games.
Only after these should attention be paid to the number of spins and the stake involved. The higher the ratio of these, the better it is from the player's perspective. If you plan to redeem free spins with a deposit, it’s worth comparing the value of the spins given in exchange for your payment before redemption.
Free spins: A mere marketing gimmick or a valuable bonus?
Many may remember unpleasant experiences with semi-fraudulent free spins that some dubious Scamburst game took away along with their deposit. Others may have experiences of winning tens of thousands of euros with free games at the casino's expense.
Nowadays, both extremes have almost disappeared, as both grey area tricks and the conditions for winnings have been tightened. Today, the situation remains that free spins can indeed win real money in large amounts, but also under poor conditions, customers can be driven towards almost inevitable losses.
In the short term, both are possible. In the long run, however, the curves level out, leaving the player with a slight advantage over the house, meaning the possibility of benefiting financially. Ultimately, it all depends on personal choices, the terms of the offers, and a bit of luck.
Free spins are still widely used in the marketing of gambling games, but not as abundantly as years ago. The basics, however, remain the same: spins are a cost and risk for casinos, but often a positive expected opportunity for players to make a profit.
Other benefits of free spins
Of course, not everything always needs to be measured in money. Free spins offer users other opportunities in addition to financial benefits. Thanks to them, you can try new games, their features, or entirely new online casinos as if sponsored.
No deposit spins allow you to test real games without using your own money or risk. On the other hand, by depositing, you can gain access to more spins and thus extend your gaming session and enjoyment with the help of free spins. Try something new or play more at the house's expense. Quite nice additional incentives for some players.
Should you use free spins?
In conclusion, it might be good to summarize the key points. Whether or not to redeem free spins ultimately depends on several different factors. From a financial perspective, this is influenced by the size of the wagering requirements, the number of allowed games and return percentages, the number of spins given, and the stake and any deposit requirement or lack thereof.
In principle, deals with a positive expected value should always be redeemed. A negative expected value does not automatically mean that the player will be left licking their wounds, but winning is less likely.
For some players, other than financial factors also motivate the use or non-use of free spins. If the goal is enjoyment and entertainment, choosing is easier. From a purely financial advantage perspective, it is worth considering multiple variables.