Industry News
Are Free Spins Beneficial To Players?
Free Spins are one of the most popular casino offers available to new customers. Most online casinos have a welcome package that includes Free Spins, while others hand them out to returning customers. Free spins are also used to promote the launches of new slots. Slots are by far the most popular games in online gambling, which is why free spins are considered so attractive. They are one of the main ways in which online casinos appeal to new customers.
The Problem with Strict Wagering Requirements
Since their inception, free spins have always come with wagering requirements. These are conditions linked to the free spins in case you win a cash prize. Most free spins result in some kind of cash winning, but usually, the money is not withdrawable right away. Instead, the winnings have to be wagered a number of times. These are known as the wagering requirements. The terms rollover and spin through are used interchangeably with wagering requirements.
Wagering requirements are a basic ingredient in all casinos’ terms and conditions, as they try to balance the value of promotions and bonuses in their favor. Casino players are easily swayed by a large number of free spins or a major matched deposit bonus, but truly grasping the value of a free spins offer requires you to look at the wagering requirements.
If we look at some of the current free spins deals in the UK, separate casinos offer a different number of free spins on the same slot. For example, one casino offering 50 free spins on Starburst and another one 100 free spins. In this situation, most players would opt for the 100 free spins, seemingly getting the better of the two deals. Yet ultimately, you always have to factor in the attached wagering requirements. 50 free spins with a 1x wagering requirement is a far better deal than 100 free spins with a 10x wagering requirement.
Wagering Requirements Might Include a Maximum Stake
A lot of people have tried winning a delicate £20 from a free spins offer, and then having to comprehend a complex set of terms and conditions. Beyond the already mentioned wagering requirements, casinos often exclude certain games from the wagering. For example, roulette and other table games are often excluded from the wagering requirements. Any money wagered here will not count towards the total requirement.
Furthermore, stakes are often capped at a set maximum. That means you are only allowed to wager a set proportion of your free spins winnings in a single stake. If the maximum stake is £1, a £2 stake on a slot machine will only count £1 towards the wagering requirements. In some cases, casinos might confiscate your winnings all-together if the maximum stake is surpassed.
Restricted games and maximum stakes are not reasons to stay away from free spins, but it clearly highlights the importance of reading the terms and conditions thoroughly. If you don’t, you could up wagering money that does not count towards the rollover, and at worst, you could see your winnings confiscated by the casino.
Free Spins Are Not Worth A Lot Of Money
Let’s be honest: Free spins offer to seem far more lucrative than they really are. 50 free spins on a popular slot sound like an absolute bargain, but in reality, the value is limited. Each spin might have a value as low as £0.10, making the total value of the promotion a modest £5. The offer comes across as far more enticing than it really is.
Some free spins are branded as Mega Spins or Super Spins, and the value of these is significantly higher. However, they often come in much smaller numbers. The combined value of free spins – the number of free spins added against the value of the individual spins – is rarely higher than £10. When you factor in the wagering requirements and a potential cap on winnings, the value left is even smaller.
That does not mean free spins are unattractive or should be avoided. However, measuring the number of free spins against the value of the spins provides you with a better idea of their true value.
Caps on Winnings Are Frustrating
Although you might have initial success with your free spins, the amount of money won is often capped. Since the casino is handing out free money, they would rather have you don’t run away with a major win. Winnings are often capped at £100 or £200, although some free spin offers come without any restrictions on winnings. As a general rule, there is almost always a wagering requirement, while winning caps vary from offer to offer.
Winnings caps are not necessarily an issue. The casino is, after all, giving you free money to play with. Yet they do reduce the value of free spins notably. It can be frustrating to play without the chance for a major jackpot and to see a £1000 win reduced to £100 due to a winning cap.
Conclusion: How Good Are Free Spins Really?
Free spins are common among online casinos but often come with a complex set of terms and conditions. Wagering requirements, winning caps, and tricky rules are factors that make free spins less attractive than they would seem at a first glance. However, dismissing free spins would be a mistake. There are good reasons why free spins are beneficial to casino players.
Most importantly, free spins are an excellent tool to build your bankroll. Bankroll management is key to experienced and recreational casino players alike, and free spins are an important factor here. Online casino is all about calculating risk and reward and getting the right balance. With free spins you face no risk at all – you have everything to win and nothing to lose. Turning your nose at a free spins offer due to the terms and conditions is always a mistake. Free spins will not make you rich, but they provide small injections to your bankroll.
If you want to succeed with online casino games, offers and promotions are absolutely key. Online slots typically operate with an RTP between 95% and 97%, which means you will struggle to make a profit in the long run. However, bonuses and promotions give you the chance to break that trajectory. Although free spin offers are far from perfect, players should take advantage of them when the opportunity arises.
NuxGame, the experienced betting and casino software provider, has been recognised at this year’s EGR B2B Awards, receiving a nomination for its Aggregation Platform.
The EGR B2B Awards is one of the most esteemed events in the industry and this shortlisting solidifies NuxGame’s status as a leading casino software supplier and a one-stop shop for casino operators.
Winners are to be selected by a panel of industry experts ahead of the ceremony at The Roundhouse in London on 13th June.
NuxGame’s aggregation platform boasts over 13,600 slots titles from 135 leading providers, which has recently been bolstered thanks to partnerships with the likes of 3 Oaks Gaming, Vivo Gaming and Hacksaw Gaming.
The nomination follows a strong year for the provider, which has made strides in player retention and acquisition tools for its aggregation platform customers with features such as free spins, network tournaments, live streamer promotions and custom thumbnails.
This latest development for NuxGame serves as a testament to its philosophy of staying ahead of the tech curve and harnessing the latest technologies to provide a bespoke and customer-centric service.
Denis Kosinsky, Chief Operating Officer at NuxGame, said: “The EGR B2B Awards is one of the most important dates in the iGaming calendar, so we are honoured that our leading casino aggregation platform has been shortlisted.
“It’s fantastic to be recognised in these prestigious awards, as we are dedicated to delivering the most innovative casino game aggregation platform for our customers.”
The post NuxGame’s Aggregation Platform shortlisted in EGR B2B Awards appeared first on European Gaming Industry News.
Betsson AB has published its interim report for the first quarter of 2024.
Highlights
- Group revenue was EUR 248.2 (221.9) million, an increase of 12%. Organic increase of 25%.
- Casino revenue increased by 19%. Sportsbook revenue decreased by 3% and the sportsbook margin was 6.6% (8.0%).
- EBITDA was EUR 71.6 (54.3) million, an increase of 32%. The EBITDA margin was 28.8% (24.5%).
- Operating income (EBIT) was EUR 57.9 (43.0) million, an increase of 35%. The EBIT margin was 23.3% (19.4%).
- Net income was EUR 42.8 (36.6) million, corresponding to EUR 0.30 (0.28) per share.
- Operating cash flow was EUR 50.0 (48.8) million.
- Net debt was EUR -68.1 (-104.5) million.
- Active customers increased by 15% to 1,281,267 (1,115,641).
CEO’s Comments
“Positive start to the year for Betsson – continued high customer activity and the highest ever operating income”
For Betsson, the first quarter of 2024 was characterised by a continued positive development with high customer activity, good growth and strengthened profitability, as well as new growth-oriented initiatives. Revenue was up 12 percent year over year, and operating income (EBIT) increased as much as 35 percent to a new record level, while the operating margin strengthened to 23.3 (19.4) percent.
After the new president in Argentina took office, a devaluation of the Argentine peso of more than 50 percent was carried out in December, which had a negative effect on reported revenue for the Group in the first quarter. Organically, revenue increased by 25 percent compared to the corresponding quarter of the previous year.
The high customer activity drove strong growth in gaming turnover for both casino and sports betting, with year-over-year increases of 14 and 25 percent, respectively. Casino revenue increased by 19 percent year over year. The sportsbook margin amounted to 6.6 (8.0) percent, which was lower than the average margin for the past two years and meant that the high activity and increased turnover in sports betting was not fully reflected in revenue for the quarter. The lower sportsbook margin particularly impacted revenue in Latin America.
Betsson’s ambition is to generate stable earnings growth in the long run. The strategy to achieve this is based on geographic diversification and growth investments within existing markets, new markets, B2B and M&A. Within existing markets, it can be mentioned that the Betsson brand was introduced on the Italian market in March, at the same time as a collaboration was started with the former superstar of Italian football, Francesco Totti. Italy remains an important market with great potential for Betsson. In addition, Betsson went live in Cordoba, Argentina during the quarter, which means that the Group now offers games under local gaming licenses in three Argentine provinces. In new markets, a new online casino offering was launched in Belgium through the acquired company betFIRST, based on the category A+ license. The license enables a complete online casino offering including slots, table games and live casino. B2B continues to be an important strategic area where previous years’ investments continue to bear fruit and continued to perform strongly during the quarter. In terms of M&A, a gaming operator licensed in the Netherlands that offers casino games via the websites www.goldruncasino.nl and www.goldruncasino.com, and a game studio that develops casino games, were acquired in February. The transaction is subject to an approval from the Dutch gambling authority before the integration work can begin.
Sustainability is an important part of Betsson’s strategy and for the second year in a row Betsson sponsored the Consumer Protection Zone at the ICE gaming fair in London. This part of the fair aims to increase knowledge about responsible gambling and all proceeds from this part go to organisations that work with responsible gambling.
After the positive start to the year, we now look forward to following the final rounds of the European football leagues and cups, before it is time for the best national football teams to measure their strengths in the UEFA Euro 2024 and Copa America in June and July. There is football fever out there and within the entire organisation a number of activities are already underway to ensure that Betsson will be able to deliver a powerful player offering for new and existing customers during these major championships. See you this summer!
The post Betsson Publishes its First Quarter 2024 Interim Report appeared first on European Gaming Industry News.
This month The Navajo Nation Gaming Enterprise (Navajo Gaming) honored 186 of its total 1200 team members for reaching significant employment milestones including 15, 10, and 5 years of service for the enterprise. The event at Twin Arrows Navajo Casino Resort in Flagstaff, Ariz. showcased the impact and journey of each hard-working team member, with a special highlight for 29 employees who have served for 15 years.
Less than 10 years after Navajo Gaming was created by the Navajo Nation and charged with the mission of creating jobs, increasing revenues, and stimulating incremental economic development within the Navajo Nation, the gaming enterprise created over 7425 direct, indirect and induced jobs with an overall economic output of over a billion dollars.
“Navajo Gaming employs 1200 people, 85 percent of whom are Navajo citizens. The award-winning AAA’s coveted Four Diamond Twin Arrows Casino Resort shares Navajo Culture through architectural nuances and local artists. Each of the property dining eateries feature ‘Navajo Beef,’ and traditional cuisine of the Navajo people, and our invitation to stay, play and relax at one of our four properties or Travel Center is an open welcome to the Navajo Nation’s beautiful scenic transformation,” Matthew Shunkamolah, Interim Chief Executive Officer of Navajo Gaming, said.
Team members recognized for 15 years of services have worked their way up to a wide variety of position within the enterprise from General Manager and Executive Director of Slots, to Director of Security, Food and Beverage Supervisor and Executive Director of Government Affairs.
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