Sweepstakes and social casinos are taking the US by storm, but if you haven’t tried one out yet, all the talk of coins, redemptions, bonuses, and prizes can feel like learning a new language. The good news is, it’s all pretty simple to understand, especially when you have a guide like the one you’re looking at right now.
Understanding Sweepstakes Casino Currencies
Read on as we explain how coins and currencies work at sweepstakes and social casinos. Soon you’ll have all the knowledge you could need to start playing and winning real cash prizes online!
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What Are Sweepstakes Casino Currencies?
To start with, there are two virtual currencies used at almost all sweepstakes casinos: Gold Coins (GC) and Sweepstakes Coins (SC).
Some casinos call these currencies by different names, or offer a third currency (we’ll get onto that later), but this dual coin system is the foundation of how all sweepstakes casinos operate.
The Basics of the Sweepstakes Model
Matched up with the two types of coin, sweeps casinos offer two types of gameplay, commonly termed fun play (Gold Coins) and promotional play (Sweepstakes Coins).
Fun play, as the name implies, is simply for fun. Or you could say it’s for the satisfaction of building up your GC balance, or trialling out a game before you spend the more ‘valuable’ SC on it.
On the other hand, promotional play works with SC and leads to an opportunity to redeem these coins for real prizes later on.
| Gold Coins (GC) | Sweepstakes Coins (SC) |
|---|---|
| Fun play | Promotional play |
| Can’t be redeemed for real prizes | Can be redeemed for cash or gift cards |
This model is how sweepstakes sites work within US law. You see, Sweepstakes Coins are always given away in some form of promotion, or wagered and won on games. Also, they aren’t technically cash, but they can be redeemed and turned into cash if you choose.
By following these concepts, sweeps companies are able to offer their platform in states where traditional online gambling might be prohibited. It all started with Chumba Casino in 2012, and since then the industry has grown massively to include many different casinos.
How These Currencies Work in Gaming
Once you’re logged in and playing, it’s really simple to switch between GC and SC. It’s usually as easy as looking in the top right corner of the screen and clicking a toggle/switch to choose which mode you’re in.
Basically, it’s always up to you whether you want to play with GC or SC, and you’re free to switch between the two modes from spin to spin.
The Social Casino Model
While not as popular as sweepstakes casinos, pure social casinos are available in the US too, and the difference is easy to understand now that you understand the two coins. Social casinos don’t offer Sweepstakes Coins or redemptions – they only offer fun play with Gold Coins.
You might find social casinos in states where even sweepstakes sites are banned, or some players enjoy playing purely for fun.
How to Get Hold of Gold Coins and Free Sweepstakes Coins
Now, back to sweepstakes casinos, let’s go through the main ways you can get your hands on the two coin types:
- Welcome Bonus: All sweepstakes casinos offer a package of coins simply for signing up. It’s the main way to get new players through the door, so sites make these no deposit bonuses as enticing as possible.
- Purchasing Coin Bundles: Once you’ve signed up, you can purchase coins from the store – this is a very quick and easy way to increase your balance. The thing to note here is that technically you are always buying Gold Coins, with the Sweepstakes Coins bundled in for free. This is one more way the casino stays within the bounds of sweepstakes laws. You’ll always find first purchase discounts too, meaning that you get the best deals on coin bundles as a new customer.
- Winning Via Games: Of course, you can play and win coins on games and slots, just like you would at a traditional casino.
- Alternative Method of Entry: Often abbreviated to AMOE, this describes mailing in a request on a letter or postcard, after which you’ll be credited with free SC. This is another way that sites ensure free entry for all players and stay within regulations. Casinos will often have a sweepstakes rules page that details how to go about sending in your entry.
- Daily Login Rewards: Not all sites offer this, but they should do. Simply by logging in daily, more coins will be credited to your account – you don’t even have to play that day.
- Social Media Promotions: Sites will often run competitions on their social media accounts. The scope can vary but it usually involves you receiving a few coins for some type of interaction, like leaving a comment or guessing the correct answer to a question.
Playthrough Requirements
One thing to bear in mind is that Sweepstakes Coins usually come with a wager requirement. This means that you must play and win the coins back at least once for them to become eligible for redemption. This is essentially to stop people from signing up for various promos and simply redeeming the SC straight away.
The requirement is often 1x – meaning you must play through the coins once – but it can be higher. For example, if it’s 5x, you’ll have to play through the coins 5 times. We’ve heard of even higher amounts in rare cases too, and your chance of actually having any SC left starts to dwindle the higher the requirement is.
It’s something to be aware of when you’re selecting a casino to play at, and the rate will often be mentioned in the Terms & Conditions.
Time Limitations
Something else to note is that SC can expire after a certain period of time, e.g. 60 days. Therefore it’s in your best interests to play and redeem the SC within this period. Again, the Terms & Conditions for the site in question should provide you with further details on this.
Alternative Names, Extra Currencies and Conversion Rates
Differing Names
As I hinted at earlier, some sites will diverge from the standard naming conventions of Gold Coins and Sweepstakes Coins. Sweeps Coins is a very popular but abbreviated alternative, but there are lots of unique variations. As you’ll see below, some platforms use their brand name in the coin name.
- Sweeptastic uses Lucky Coins and Sweepstake Coins.
- WOW Vegas uses WOW Coins and Sweeps Coins.
- Stake.us uses Gold Coins and Stake Cash.
- Fortune Coins uses Gold Coins and Fortune Coins.
- Funrize uses Tournament Coins and Promotional Entries.
- Ruby Sweeps uses Gold Coins and Emeralds.
Extra Currencies
Then some casinos introduce a third type of currency with a separate function. For example:
- High 5 uses Game Coins, Sweeps Coins, and Diamonds. These Diamonds enable players to buy and activate in-game boosts, giving them a better shot at winning.
- Chip’n WIN uses Gold Coins, Sweeps Coins, and Crystals. These Crystals are what you use to make free spins on the rewards wheel, in turn winning Sweeps Coins.
Whether you’ll want to play at a casino that throws a third currency into the mix is completely up to you. Some players will enjoy the novelty, while others will prefer to keep it simple!
Conversion Rate
Most casinos make it easy for us to calculate potential winnings by using an exchange rate of 1 SC to $1. However, there are some sites that use different ratios. For example:
- Fortune Coins uses a rate of 100 Fortune Coins to $1 at redemption.
- Funrize uses a rate of 100 Promotional Entries to $1 at redemption.
- Carnival Citi uses a rate of 1,000 Sweeps Chips to $1 at redemption.
It’s usually pretty easy to spot this, especially when you see a welcome bonus that looks too good to be true. If that’s the case, it’s very likely that there’s a non-standard conversion rate at play.
How to Redeem Sweepstakes Coins for Cash Prizes
Now let’s assume you’ve secured an amount of SC that reaches the minimum redemption threshold, and played through any wagering requirements too. We’ll also assume you’re eligible (e.g. you’re old enough) and hold the necessary ID documents for redemption. Now it’s time for the part many of us look forward to: turning those coins into cash or gift cards!
The Redemption Process
- Sites will have slightly different processes, but you’ll generally want to locate the ‘Redeem’ option and click through to it.
- If you haven’t passed the Know Your Customer (KYC) checks previously, you may have to provide your proof of ID.
- Then it’s simply a case of selecting the redemption method you want, providing any related information, and waiting for the cash to hit your account (or gift cards to hit your email).
- Different casinos have different time periods for how quickly they’ll process your redemption. Sometimes it’s within hours, and sometimes it takes days.
Final Thoughts on Sweepstakes Casino Currencies
I hope that clears up any questions you may have about currencies. For more information on the features and policies of different casinos, you can always read our detailed reviews here on SweepsPlays. These will help you choose the casino that’s the best fit for you and your preferences.
Then, once you’ve made a choice and signed up, the platform’s support team will always be on hand to answer any more questions you might have along the way. Happy gaming!
Author: Bogdan Lunkan
Updated:
Bogdan has been playing sweepstakes casino games before it was cool! He has achieved top VIP status on a number of sweepstakes casinos and regularly bets the max when playing his favorite slots. Bogdan takes you inside the mind of a high-stakes player, and following his tips, you too can redeem lots of sweeps coins.
Bogdan has been playing sweepstakes casino games before it was cool! He has achieved top VIP status on a number of sweepstakes casinos and regularly bets the max when playing his favorite slots. Bogdan takes you inside the mind of a high-stakes player, and following his tips, you too can redeem lots of sweeps coins.