All legit sweepstakes casinos operate on the “no purchase necessary” model. You are guaranteed free daily coins and can play casino-style games without spending a dime, ever.
Sweepstakes Casino Payment Methods
However, you can still purchase additional Gold Coin packages that include free Sweeps Coins. And this is where sweepstakes casino payment methods come in.
The list of payment options at sweepstakes casinos varies but usually includes bank transfers and credit/debit cards at the very least. In some instances, e-wallets like PayPal and Skrill are also available, and so is crypto.
This guide will cover the basics of sweepstakes casino banking and dive deeper into the full terms players should know before purchasing virtual coins at sweepstakes casinos.
SweepsKings treats readers like royalty. Our team works around-the-clock to source you with honest and in-depth information on sweepstakes casinos. Our reviews, guides, bonuses, and coverage are based on hands-on testing and 100+ years of combined industry experience.
We may receive financial compensation if you play at the legal sweepstakes gaming sites we advertise. Still, our content remains impartial to financial or outside influence and is guided solely by our ethos, research, and industry knowledge.
Social Casinos with Varied & Trustworthy Payment Methods
1
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Gold Coin Purchases and Sweepstakes Coins Redemptions 101
Before proceeding, let’s cover what you’re buying at sweepstakes casinos. Two virtual currencies are at play: Gold Coins and Sweeps Coins.
When making a sweepstakes casino purchase, you are always buying Gold Coins. This virtual currency has no real-world value and is for free play only. GCs are not redeemable for cash prizes.
Sweeps Coins, though, are redeemable for real cash prizes, pegged 1:1 to USD. You technically cannot buy Sweeps Coins, but they are awarded for free when you buy a Gold Coins package.
A quick point that we will also cover later on. Sweeps Coins must be used on casino-style games at least once to become redeemable. And then, you need a minimum number of redeemable SCs in your account to make a redemption request and claim real cash prizes.
Banking Options at Sweepstakes Casinos
Banking options at sweepstakes casinos typically fall into three categories: traditional methods like credit/debit cards and bank transfers, modern solutions like e-wallets (PayPal, Skrill) and mobile wallets (Apple Pay, Google Pay), and crypto.
A lot of sweepstakes casinos also offer gift cards as a redemption option. Let’s examine these methods in depth, with all the pros and cons, to help you find your best match.
Credit/Debit Cards
Pros
- Safe, secure, reputable
- Fast transactions, especially purchases
- Easy to track spending for responsible gaming
- No expiry balance
Cons
- Transaction fees apply
- Full details required
Mastercard, Visa, American Express (AmEx), Discover: the four major credit/debit card providers we look for at sweepstakes casinos. If bank cards are not supported, that’s cause for alarm for the SweepsKings team (unless covering crypto sweepstakes casinos).
Credit and debit cards have the safety net of major financial institutions backing them. The downside is the transaction fees they incur. Purchases are near-instant, and redemption times vary but typically fall within 48 hours.
Note that not all sweepstakes casinos support redemptions with bank cards. Also, the SweepsKings team urges all potential players to stick with debit cards and never go into credit card debt over gaming.
Online Bank Transfer
Pros
- Maximum security
- No credit involved, only money you own
- Direct connection to bank account, no third parties
- Large transaction limits
- Compatible with Trustly for extra convenience
Cons
- Slower processing time
- Fees and potential declines
ACH bank transfer is another highly reliable, old-school payment method at sweepstakes casinos. We consider it fundamental. You use your traditional bank account with no third parties involved. All the top US banks are included: Chase, Wells Fargo, Bank of America, etc.
All bank transfer types mean no credit allowed, so you can’t spend more money than you own. Sure, that doesn’t prevent overspending altogether, but at least you can’t go into debt.
This method is widely used for sweepstakes casino redemptions because of the high transaction limits. On the downside, redemptions can take a while, often upwards of 48 hours and as long as a full business week.
Some sweepstakes casinos, like WOW Vegas and High 5 Casino, support Trustly. It’s an open banking system for instant account-to-account transfers. It cuts down the processing times and speeds transfers up. You can read more in our dedicated article on Trustly sweepstakes casinos.
E-Wallets
Pros
- Very fast transactions
- Only e-wallet info required, no personal bank data
- Lower transaction fees compared to traditional banking
- Easier budget management
- High flexibility, valid for purchases and redemptions
Cons
- Not that widespread at sweepstakes casinos
- Fees still may apply
When we talk about sweepstakes casinos that accept e-wallets, we usually refer to PayPal and Skrill. Venmo is a rare option, and we still haven’t identified any sweepstakes casinos accepting Neteller, Payz, or other mainstream digital wallets at online casinos.
The first benefit here is the layer of data privacy. You make the payments through your e-wallet account, even if a bank card is connected to it. That means your banking data remains private.
Or you can use the funds from your e-wallet account, of course. That brings us to another benefit: fund separation. You can allocate a sum for gaming and stick to it. And if it’s gone, you’re done. Responsible gaming for the win.
If available for redemptions, e-wallets are smooth, with transactions taking no longer than a day. Transaction fees may still apply, though, but they’re lower than using credit/debit cards.
Mobile Wallets
Pros
- No sensitive data shared
- Highly convenient
- Extra security features via biometric verification
- Fast transactions
- Very easy to use
Cons
- Fees for linked cards
- Dependant on your mobile device
Apple Pay and Google Pay are the top options when it comes to mobile wallets at sweepstakes casinos. They are mobile apps serving as intermediaries to your bank card. The number of sweepstakes casinos supporting them is on the rise and now includes Mega Bonanza, McLuck Casino, PlayFame, Funrize, and many more.
Similarly to e-wallets, mobile wallets keep your card details hidden from the sweepstakes casino. Once you connect your card or digital banking app to a mobile wallet, you don’t have to type any card data, it’s smooth sailing.
The transactions are fast, and the apps are very user-friendly. Also, transactions are initiated by the user entering a code or even through a face scan. That’s an extra safety layer right there. But note that the apps are entirely dependent on your mobile device. Fees still apply to any of the linked cards.
Crypto
Pros
- Very fast transactions
- Extra privacy
- Low fees
- High transaction limits
Cons
- Limited regulation
- Price volatility
- Irreversible transactions
- Can be associated with shady sweepstakes casinos
Cryptocurrency has changed the online gaming industry, but the SweepsKings team is still a bit on the fence about it. On one hand, we can’t deny that crypto transactions are super-fast, that fees are near zero, and the layer of privacy that comes with using cryptocurrency at sweeps casinos.
On the other hand, you have zero financial institutions behind your funds. Also, transactions are irreversible, and the price of Bitcoin and all altcoins—especially altcoins—can heavily fluctuate.
Still, we can’t deny things have improved a bit over the years. While many of the shady sweepstakes casinos we run into are crypto-exclusive, there are exceptions. Stake.us is an industry trailblazer, obviously, but newer sweepstakes casinos like Casino.click and Bitsler.io also offer fiat gaming experiences.
Gift Cards
Pros
- Significantly lower minimum redemption
- Fast processing
- No linking, extra privacy
- One-time use eliminates long-term risk
Cons
- Restrictions to how funds are spent
- Can be difficult to spend full sums
- Can’t be reloaded
- Risk of hidden fees
A lot of sweepstakes casinos let you redeem Sweeps Coins as gift cards. This can mean a dedicated gift card like an Amazon or Visa gift card. Some sweepstakes casinos, like Hello Millions and RealPrize, support Prizeout, which is a service that lets you choose your gift card provider. This is pretty convenient.
Casinos give extra incentives to use gift cards by lowering the minimum redemption requirements. For example, all you need at Spree are 10 redeemable SCs to get a gift card redemption. Usually, you need at least 50 redeemable SCs, and often 100.
Gift cards are also processed fast and require no sensitive data. But, obviously, you are limited in how you can spend your winnings even if Prizeout is included in the mix. Also, gift cards can be tricky to spend in their entirety. This leads either to “wasted” funds or having to add funds from your pocket to redeem a specific item.
Safety First: Evaluating Sweepstakes Casinos Before Making Payments
Before you buy anything at a sweepstakes casino site, check the safety measures. Every site recommended by the SweepsKings team is spotless in this department, so you don’t have to worry. But it doesn’t hurt to know this stuff nonetheless.
- SSL Encryption: Before you even register an account, check the little padlock in the URL bar next to the site’s link. Click it, then select “Show Certificate” to see that 256-bit SSL encryption is used to protect all user data.
- Payment Gateway Security: Assess the payment gateway used for transactions. It should align with PCI DSS (Payment Card Industry Data Security Standard) compliance guidelines.
- Check Location-Based Restrictions with VPN Detection: Confirm if the platform has systems to block VPNs and enforce location-based restrictions. Legitimate sweepstakes casinos must actively comply with jurisdiction-based usage restrictions and prevent unauthorized access.
- Two-Factor Authentication (2FA): After registering your account, open the profile and see if Two-Factor Authentication is available for extra security.
Not exactly 100% safety-related, but reach out to the support team and ask around, too. See how much it takes to get a hold of a human support agent. Ask about the company that owns the sweepstakes casino and any extra questions you might have about the payment option you plan on using.
How to Buy Gold Coins at Sweepstakes Casinos
You can buy Gold Coins as soon as you register a sweepstakes casino account and verify your email and phone number. Before we go through the steps, here’s a brief rundown of things to do before you can buy your first Gold Coin package.
Again, it’s not always mandatory, but I actually recommend handling the KYC right away. You won’t be able to redeem your SCs without it, and if you hit a snag during verification later on, then all the games played were in vain.
Now, the steps.
1. Once logged in to your account, click the button for buying Gold Coins. It’s usually in the top menu, saying something like “Get Coins.”
2. Select the Gold Coin package you wish to buy. If this is your first purchase, the casino will likely highlight your first purchase bonus. It might even send a pop-up message.
3. Select your preferred payment method.
4. Follow the steps to make the payment. This can mean inputting your card details or your e-wallet email and password or your cryptocurrency wallet.
5. Complete the payment and check the funds are in your sweepstakes casino wallet.
Can I buy Sweeps Coins?
Technically, no, you cannot explicitly buy Sweeps Coins at any sweepstakes casino. You can only buy Gold Coins. But, pretty much all sweepstakes casinos include free Sweeps Coins as a gift for purchasing a Gold Coin package.
Usually, you get the amount of SCs that matches the price of the GC pack. For example, a $15 pack includes 15 free SCs.
Some casinos increase the SC value for larger packages, e.g., Mega Bonanza grants 104 SCs for its $99.99 GC pack, or RealPrize goes even further, handing out 60 free SCs for its $50 GC package.
Do sweepstakes casinos support the same purchase options?
Although sweepstakes casino payment options differ, bank cards and e-wallets are usually supported. Therefore, you’ll always need to do some research before joining a new sweepstakes casino.
Do I need to purchase Gold Coins?
Since the no-purchase-necessary model is the backbone of sweepstakes casinos, many users often wonder if there is any need to purchase additional coins. It all boils down to personal preference and your desire for real cash gaming.
Remember, sweepstakes casinos offer thousands of free Gold Coins daily, but free Sweeps Coins are usually limited to 0.2 – 1 SC. With this small amount, there is a severe cap on your potential winnings, meaning much lower redemptions.
With many sites offering jackpot games with high potential payouts, having a decent amount of SC is often the best option for anyone who wants an experience like what real money casinos offer. By purchasing a GC package, you get free SC that you can use to place more bets and, in some cases, remove annoying ads on sites like Pulsz Casino or access live chat support like on PlayFame.
Sweepstakes Coins Redemptions
The only way to claim real money prizes from any online sweepstakes casino site is by accumulating enough redeemable Sweeps Coins through playing casino-style games.
I’ll point out once again that only Sweeps Coins are eligible for real cash prizes. Gold Coins are not and can be used for gaming only.
Sweeps Coins Redemption Rules
The redemption process at sweepstakes casinos is simple once you get a grasp of how these sites operate. So go through this list first and understand every point. Then, we will cover the actual steps for redeeming SC for real cash prizes.
Redeeming SC for Cash Prizes: Step-By-Step
Once you understand the redemption rules outlined in the previous section (and take the appropriate action to meet the requirements), sweepstakes redemptions are easy-peasy. These are the steps to follow.
1. Find the Redeem page at the sweepstakes casino. It’s usually within your account or in the top menu in some cases.
2. If you haven’t completed the KYC steps, you will have to do it now.
3. The sweepstakes casino will display the number of redeemable SCs in your profile. If you have enough to meet the minimum redemption requirement, set the amount you wish to redeem.
4. Select your redemption method.
5. Depending on the redemption method, enter the required data. This can include anything from your bank info to e-wallet details to crypto wallet to gift card settings.
6. Initiate the redemption and keep track of the process until complete.
In some cases, redemptions can take under an hour (usually for crypto, maybe some e-wallet transactions). With bank transfers, you might be looking at up to 10 business days.
Don’t hesitate to reach out to customer support and inquire about your transaction’s status.
Before doing so, consult our reviews or the casino’s T&Cs for their approximate payout processing times – some casinos take up to 72 hours to internally review requests before clearing the payment.
Avoid unnecessary delays by selecting the same method you used for purchases when redeeming Sweeps Coins, unless that’s not feasible.
Playthrough Requirement Explained
I’ve seen players on the SweepsKings Forum ask us why they have to play through their Sweeps Coins to make them redeemable. It’s simple; this prevents abuse.
Without the playthrough requirement, players could use the sweepstakes casino as an exchange service – just buy the coins and redeem them. That goes against Anti-Money Laundering (AML) measures.
And if that wasn’t enough, players could buy larger GC packs that include more SCs than the package is worth and redeem more money than they deposit. It would be like a money-printing machine!
Thankfully, sweepstakes casinos set the wagering bar lower than real money casinos, which are known to require playthrough of at least 40x when it comes to bonus funds.
Finding the Best Sweepstakes Casino Payment Option For You
The best sweepstakes casino banking method really comes down to preference. We covered the pros and cons of the most common options, but let’s now draw a few highlights and connect specific options to specific player types.
For maximum safety, stick to bank transfers and bank cards. When using Visa, Mastercard, or traditional bank transfer, you have a major, global institution behind you. You can’t beat it when it comes to safety, plus chargebacks are on the table.
E-wallets offer a great mix of speed and safety. Purchases are instant, and redemptions are handled on the same day in some instances. In addition, they still have strong security protocols in place and don’t reveal sensitive data.
For ease of use, go with mobile wallets. Apple Pay and Google Pay couldn’t be easier to use when playing games on your mobile. Extra tip: Consider Trustly if you want to simplify your bank transfers.
E-wallets and mobile wallets add a layer of data privacy. When you use an e-wallet like PayPal or a mobile wallet like Apple Pay, you don’t input any sensitive data beyond your email. If you’re worried about typing your credit card number, this is the way.
For the lowest fees, you can consider crypto. We are weary of crypto. But while e-wallets can come fairly close to it in terms of speed, it’s hard to beat the low fees. However, if you are not a crypto user, buying crypto will incur fees and can seem daunting at first.
If you want low redemption, gift cards could be it. If you’re a lower-stake player who doesn’t want to grind to 100 redeemable SCs, some sweepstakes casinos allow you to redeem as little as 10 – 25 SCs via gift cards.
How to Identify the Best Gold Coin Bundle
We’ve outlined the security measures to look for in a sweepstakes casino before spending any money on-site. Let’s now cover a few points so you know to spot the best value in Gold Coin packs.
Know the SC conversion rate. In most cases, a sweepstakes casino will give players free SC equal to the USD price of the GC package. But some sites handle this differently. Fortune Coins, for example, has a conversion rate of 100 FC to $1. Its $4.99 pack unlocks 1,000,000 GC and 510 free FC, meaning every $4.99 spent unlocks $5.10 worth of free FCs.
Check the first purchase bonus. The first purchase deal is the biggest discount you will get at a sweepstakes casino. Most sweepstakes casinos will at least double the value of a specific GC pack but the best ones, they give you 3x or more SCs (e.g. $9.99 for 30 Free SC).
Seek discounts even for less-expensive GC packs. Sweepstakes casinos tend to reward larger GC packs by throwing in more SCs than the package costs. But the best ones reward even the smaller purchases. Like RealPrize, their $10 package includes 12 SC.
Examine the value of loyalty programs. Check if the sweepstakes casino has a loyalty program and how it affects your purchases. WOW Vegas has an interesting system where you earn a star for every 50 SC used for casino-style games. Reaching a new tier gets you 5% more value in WOW Coins for every purchase, going up to 25%, and several other benefits.
1
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- Evolution Gaming partner
2
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- Free SC on socials
- User-friendly website on all devices
- Low gift card redemption threshold
3
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- 10+ fish games
- Native app available
- Exclusive 10 Free SC bonus
Sweepstakes Casino Payment Options You Should Avoid
It’s clear that sweepstakes casinos can offer trustworthy payment options. But there are still payment channels I don’t recommend using.
In most cases, these options may be reliable on their own, but the sites offering them are questionable and players have reported redemption problems.
Crypto Payments on Aggregators
Stake.us has single handedly proved that crypto sweepstakes casinos can be legit. Unfortunately, some other sites are working hard to discredit this payment method. Take BitBetWin and BitPlay as examples.
These third-party aggregators don’t provide much information on their operations or ownerships, a huge red flag in our book. Since cryptocurrency payments are hard to trace and irreversible, they are widely used at rogue casinos.
Cash App
Cash App is a mobile system for peer-to-peer payments, crypto purchases, and fund storage. It is a trustworthy payment channel, but I’ve frequently encountered this option on Facebook sweepstakes casinos.
Many of these sites are third-party operators like BitBetWin, and they host casino games from untrusted names like Riversweeps and Vegas-X, so I recommend skipping it.
Responsible Gaming and Payment Limits
We want to draw your attention to Responsible Gaming features available at some sweepstakes casinos. The best sites in the industry allow you to set spending limits on how many coins you can buy on-site but also the size of wagers placed.
Beyond that, we encourage all players to set purchase limits themselves. A good way to do so is by having a dedicated account or wallet for sweepstakes casino purchases. For example, an e-wallet used exclusively for your sweepstakes casino pastime.
Also, keep track of your transactions at all times. This will help you maintain a healthy balance and steer clear of overspending. Please, do it!
Conclusion
I hope this guide gave you insight into how sweepstakes casino payments work and how to find the best option for you. The sweepstakes casino industry is growing rapidly, and beyond a few bad apples, most operators offer safe and sound banking options.
This was all just a part of the process the SweepsKings team goes through when reviewing sweepstakes casinos. Just a part, but a vital one nonetheless because money is involved.
If you have additional questions, don’t hesitate to reach out through the SweepsKings forum or via this form.
Stay safe, play within your means, and happy gaming!
FAQs
Do I need to make a purchase to play games at sweepstakes casino?
No, sweepstakes casinos are obliged to operate with no purchases required. You can buy Gold Coin packages if you want, but this is 100% optional.
What is the minimum redemption at sweepstakes casinos?
The lower limit for gift card redemptions can be as little as $10. For other payment methods, it usually ranges between $50 and $100 in redeemable SCs.
What is the minimum purchase at sweepstakes casinos?
Some casinos have GC packs priced as low as $0.99. In most cases, the cheapest GC packs rarely cost more than $5.
How to get free Sweepstakes Coins?
All sweepstakes casinos award free Gold Coins and Sweeps Coins through welcome no deposit bonuses and daily login bonuses. Some sites also run promos through social media that award players free coins.
How to claim money prizes at sweepstakes casinos?
To make a Sweeps Coin redeemable for real cash prizes, you will need to use it at least once for casino-style games. Then, you will need to amass the minimum redemption amount required by the sweepstakes casino, usually between 50 and 100 SCs.
How long do sweepstakes casino redemptions take?
This greatly depends on the payment methods. E-wallets and crypto redemptions are handled the same day, credit/debit cards take at least one business day, while bank transfers can take upwards of a full business week. Internal processing of SC payouts usually takes between 1 - 72 hours.
What are the safest payment methods at sweepstakes casinos?
Bank transfers and bank cards are the most robust payment options because they are backed by major financial institutions. E-wallets and mobile wallets are also great options because they don’t require players to share sensitive data like card numbers and financial information.
I cannot find Sweeps Coins on my social gaming site; what should I do?
It’s common to find social gaming sites referenced as sweepstakes casinos online; however, a real social casino only has Gold Coins, so you won’t find Sweepstakes Coins to use. To play with free SC and redeem cash prizes, check out WOW Vegas, Stake.us, Pulsz Casino, or go through our reviews for a more comprehensive list of the best sweepstakes casinos to visit.
Do virtual coins expire?
Yes, most sweepstakes casinos will void your coins if you fail to use them within 60 - 90 days.
Author: Mike F.
Updated:
Mike is SweepsKings’ SEO wizard and uses his skills to produce content that answers questions you haven’t even thought of yet! He personally fact-checks all articles posted on SweepsKings and leverages his vast iGaming marketing experience to keep the site feeling fresh.
Mike is SweepsKings’ SEO wizard and uses his skills to produce content that answers questions you haven’t even thought of yet! He personally fact-checks all articles posted on SweepsKings and leverages his vast iGaming marketing experience to keep the site feeling fresh.
