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How Does the Currency System Work at Sweepstakes Sites?

If you are unfamiliar with sweeps or other sweepstakes casino slots, this playing format might initially seem a little confusing. However, once you understand the basic mechanics of how they work, the rules are easy to pick up.

How Do Purchases Work at Sweep Sites?

Unlike at a regular online casino, you don’t use cash directly to play your favorite slots at a sweepstakes casino. Instead, you purchase quantities of virtual currency, in exchange for real currency in units of $5, $10, $20, or more. These virtual currency units are often referred to as ‘sweepstakes coins’. This virtual currency can then be used as a type of ticket or token to enjoy sweepstakes casino games. Sweepstakes coins are also frequently given away for free during promotional periods.

  1. Check all the methods you have available.
  2. Some purchase methods can give you perks, so check out which fits you best.
  3. Check if the purchase method has a loyalty program (even more perks that you can take advantage of).

What’s the Difference Between Sweepstakes Coins and Gold Coins?

There are essentially two types of currencies used on sweepstakes casinos: sweepstakes coins and gold coins. Both of these are used when you are playing at a sweeps casino, however they do not strictly serve the same purpose or hold the same value. Gold coins do not have any real monetary value but can still be used to play games at the sweepstakes casino. As such, any winnings made using gold coins cannot be exchanged for real cash.

On the other hand, sweeps coins can be converted into real currency and can be cashed out. However, you can’t simply purchase sweep coins with real-world money. Instead, you will usually be given them as bonuses or prizes for doing certain tasks like creating an account or linking your social media.

How to Redeem Prizes at Online Sweepstakes Casinos

Unlike at a traditional online casino where you play with real cash funds that have been processed to your account, virtual currencies acquired at sweepstakes casinos must be exchanged if you want to claim any prizes you have won.

There’s often a handsome prize waiting for you – for instance, lots of sweeps coins casinos offer the chance to win gift vouchers in exchange for gold coins, which is a great incentive for players.

Here’s what to do if you want to redeem your sweepstakes coins for real money prizes.

  1. Read the terms and conditions, and make sure you have the minimum amount you need in order to redeem your prizes.
  2. Go to the redemption section (each casino can give it a different name – for example on Fortune Coins, the section is titled simply ‘Redeem’).
  3. Select your redeeming method.
  4. Enter the prize you want to get.
  5. If you didn’t add all your info in the signing process, you will add the rest of your info (ID, proof of residence, etc.)

What Do I Need in Order to Redeem My Prizes?

Before collecting any coins you have won, you will have to provide the following documents to verify your identity:

1. Government-issued photo ID

You will need to upload an identification document that contains your photo. You can use your State/National ID, passport, or your driver’s license.

2. Proof of Address

You will have to provide a utility bill that clearly states which address you reside in. This document can be photographed or color-scanned. Make sure it is not older than three months.

3. Bank Statement

Finally, you will have to provide a bank statement that proves you are indeed the owner of the bank account you plan on using to redeem your prize. This statement must be legible and clear and your address must be visible on it. This document cannot be older than three months.

Jonathan Hill - Author at sweepstakescasino.net

Jonathan Hill

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Jonathan Hill brings his extensive experience and deep passion for the social casino industry to Sweepstakescasino.net. With a background in journalism from the University of Texas, he initially focused on traditional casinos before transitioning to online social casinos. Outside of work, Jonathan enjoys camping in the Texan countryside and playing the guitar.

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