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Sweepstakes Casinos / Casino Guide / From Coins to Cash: Understanding the Redeem Process in Sweepstakes Casinos

From Coins to Cash: Understanding the Redeem Process in Sweepstakes Casinos

Mike Osbourne
Mike Osbourne
Publish Date: 31/07/2023

Coins to cash

Given the dizzying rate at which sweepstakes casinos are growing popular, it makes sense that more people want to try them. Players get to indulge in casino gaming for free and later may exchange their sweepstakes casino coins for cash.

Although sweepstakes casino games are mostly for fun, at some sites you can redeem your virtual coin winnings for alternative prizes like gift vouchers, cash, branded merchandise, gadgets and coin packages. Because you’ll only play with virtual currency, sweepstakes and social gaming websites are legal in almost every US state.

How the Coin System Operates

If it's your first time using a sweepstakes casino, you may be a bit overwhelmed by how this particular type of gaming works. How can you get rewards from free games? Sweepstakes casinos use two kinds of virtual currencies, one to play games for fun or entertainment only and the other to enter sweepstakes contests.

You can play a variety of games using either type of currency, but their functionality is a little different. The first, usually called ‘Gold Coins’ are used for social gaming only and have no monetary value. Should players run out of Gold Coins, they can be purchased in bundles. Gold Coins are the perfect way to try out the games on a sweepstakes site.

Sweeps Coins are where redemption comes in. This type of virtual coins allow you to play sweepstakes games where any Sweeps Coins winnings can be accumulated until you have sufficient to exchange them for alternative rewards. If you win sweeps cash games, you can accumulate the coins and redeem them.

The Sweeps Coins Redemption Process

Converting sweepstakes casino coins to cash is not complicated and the process is almost the same at all sweepstakes casinos. However, a new player may still need help, especially with operators that have varied prizes. Find out what to do when you wish to convert coins to prizes in this next section of our guide.

Play with Sweeps Coins

Don’t forget, if you want to play games for prizes, then you must play games with Sweeps Coins. Playing with Sweeps Coins is just the same as playing at regular online casinos, except you won’t be using real money.It's all pretty straightforward. If you are playing a slots game, for example, then every time you wager Sweeps Coins and spin the reels, you are gaining a further entry into the overall sweepstakes pool. If you hit a winning line, you’ll get paid out with more Sweeps Coins.

Most beginners worry about playthrough requirements. At some sweepstakes casinos, you may need to play through your Sweeps Coins one to five times before your balance is eligible for a redemption.  Ensure you confirm the exact requirement at your chosen sweepstakes casino before playing. Sweeps casinos also hold contests where players are ranked on leaderboards and top-ranking contestants are rewarded with bonus Sweep Coins.

Meet the Minimum Requirements

You can't redeem free Sweeps Coins without satisfying the minimum prize conversion amount defined by the operator. Sweepstakes casinos set minimum requirements to avoid redemption abuse. Sweepstakes casinos are required to such limits to comply with US sweepstakes regulations.

Minimum redemption amounts also differ according to the alternative prizes available. So while you might need 100 Sweeps Coins to request a cash alternative, it may be as few as 20 Sweeps Coins for a gift card. Make sure to confirm this information with the operator before trying to redeem your Sweeps Coins.

How to Redeem

Getting your chosen prize at a sweepstakes casino is not different from cashing out at a traditional online casino. Here's a quick rundown of how to do that:

  1. Navigate to your sweepstakes casino account area
  2. From the options, select 'Redeem' or ‘Exchange Coins’
  3. Select your prize from the options available
  4. If you select ‘Cash’ you will need to enter details of a suitable account
  5. Enter the value of Sweeps Coins you intend to convert
  6. Confirm your redemption request and submit it
  7. Wait to receive your prize within the duration indicated

Account Verification for Withdrawals

Even though sweepstakes casinos don't offer cash wagering, they must still comply with regulations regarding account verification. Before approval for a Sweeps Coin redemption, a legitimate operator will need to verify your account. Some sweepstakes casinos will do this during registration, while others leave the process for when you make your first withdrawal.

Verification usually involves you submitting documentation to prove your identity and permanent address, such as an image of your official government ID, driver's license or passport. Most sites will also require you to take a photo of you holding your ID to match them. Additionally, you may be asked to provide proof that the account details on your casino account are in your name and registered at the same address.

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The Redemption Methods at Sweepstakes Casinos

Another aspect of the coin redemption procedure to factor in is the payment methods available for both the purchase of Gold Coins and for Sweeps Coin redemption. If you want to exchange Sweeps Coins for cash prizes, then you require a reliable banking solution.

Casinos with cash rewards usually offer standard online banking solutions, although the choice of redemption payment methods varies from one casino to another. Most offer reliable options like e-wallets, credit cards, debit cards, online banking and wire transfer. MasterCard, American Express, Visa, Skrill Neteller, PayPal, Paysafecard and Trustly are examples of some banking options available on sweepstakes platforms.

When converting sweepstakes casino coins to cash, you must decide which alternative meets your demands best. Payout times are not the same for all payment methods. Virtual wallets can take a maximum of 2 days, while a wire transfer could take up to 5 days. You must also consider the period the operator takes to process your request. The average is 24 hours, although your first redemption might take longer than that, though, particularly if you have to complete the KYC procedure during withdrawal.

Gift Cards

A number of US sweepstakes casinos offer gift vouchers as alternative prizes. The best thing about this option is that it's simple to redeem. You only have to select a gift card and wait for it for the casino to deliver it digitally. Sweepstakes sites often have a broad range of gift vouchers, which is why they appeal to many players. Uber Eats, Sam's Club, and Nike cards are some of the most common alternatives provided. Another reason gift cards are popular with players is their low minimum Sweeps Coin redemption limits. Some operators ask for as few as 20 Sweeps Coins to claim a gift voucher, which also means you don't have to wait too long before you can claim a decent prize.

How to Get Free SC for Your Gaming

Your redemption choices are limited to the amount of Sweeps Coins in your account. For this reason, you should try to collect as many Sweeps Coins as possible to increase your chances of winning. You have several ways to gather more coins at sweepstakes casinos.

Welcome bonuses are the go-to because they usually offer sizable Gold Coin and Sweeps Coin packages as an incentive to sign up. In most cases, you only have to register an account for a sweepstakes casino to award you with a new customer offer. Some sites also have promotional codes for extra benefits you may wish to claim.

Daily login bonuses are the best way to top up your Sweeps Coin balance. Casinos reward loyal users with Sweeps Coins and Gold Coins when they log in every day. You can usually collect your bonus as soon as you log in, rather than having to play for a fixed period.

Another method of rewarding loyal customers is a VIP program and many leading social casinos have one. A reward scheme lets you collect points for playing, which you can convert to Sweeps Coins as you level up..

Social media competitions are another of the marketing tactics sweepstakes platforms employ to gain customers. They usually reward players with coins for participating. Check out if your chosen sweepstakes casino has plenty of these types of opportunities and take advantage of the giveaways as much as possible.

Are Sweepstakes Winnings Taxable?

Sweepstakes winnings count as income in the US, meaning you need to pay applicable taxes. The IRS requires you to declare any winnings received from playing sweepstakes games on your tax return. As part of your income, state and federal tax applies according to your bracket. So, make sure you calculate winnings accurately to avoid getting into trouble. Don't expect a casino to withhold your prize for tax purposes. You should confirm if state tax applies where you are, but for reference, these states don't impose a tax on sweepstakes winnings:

  • Florida
  • Nevada
  • Tennessee
  • Alaska
  • New Hampshire
  • Wyoming
  • South Dakota
  • Texas
  • Washington

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Conclusion

Sweepstakes and social casinos in the US offer more than fun gaming. With more than just virtual currency at stake, players may enjoy the thrill of playing knowing there are prizes they can claim by converting Sweeps Coins winnings later on.

Sweepstakes casinos may allow you to redeem Sweeps Coins for a range of prizes, including bonus entries, electronics, cash and gift cards. Consider the prizes carefully before choosing one. Additionally, check that you meet all requirements, especially promotional terms for a smooth redemption process.

Sweepstakes casinos are easy to use, safe and the redemption process is not difficult to complete, so even beginners don't have to struggle to claim prizes. You only have to know how to select a suitable sweepstake casino that offers the games and the prizes you want.

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Our Team
Mike OsbourneAnnie Callahan
Mike Osbourne
Mike Osbourne
Expert Social Casino Writer
Annie Callahan
Annie Callahan
Expert Social Casino Writer

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