Free Spins vs. Bonus Money: Which Is More Valuable?

When you sign up to an online casino you are usually hit with a choice: grab a pile of free spins or take a chunk of bonus money. On the surface both look “free”. In reality, the value depends on the rules behind them and how you like to play.

This guide breaks down free spins vs bonus money in plain English. You will see how each bonus works, what the small print really means, and when one is better than the other for your bankroll and risk appetite.

By the end you should be able to look at any offer, scan the terms, and know within seconds whether it is worth your time.

What Are Free Spins, and How Do They Work?

How Free Spins Work

Free spins are exactly what they sound like. The casino gives you a set number of spins on one or more slot games without using your own cash stake per spin.

Key points:

• Each spin has a fixed value, for example €0.10 or €0.20 per spin

• You spin the reels as normal and can win or lose on each spin

• Any winnings are usually paid as either cash, or bonus funds that you must wager before withdrawing

You will see free spins in several forms:

• Sign up or registration free spins

• No deposit free spins (get spins without depositing)

• Deposit free spins (for example “100% bonus plus 50 free spins”)

• Loyalty or VIP free spins for regular players

Where Free Spins Can Be Used

Free spins are almost always tied to specific slots or a small group of games. For example:

• Only on one “promo” slot

• Only on slots from a certain provider

• Only on games with a given minimum or maximum stake

You rarely get free spins for table games, live casino or non slot products. For those, casinos use other bonus tools like “golden chips” or table game vouchers.

Typical Conditions on Free Spins

The headline might shout “50 free spins”, but the real value comes down to the terms. Common conditions include:

Wagering requirements on winnings

For example “20x winnings”. If you win €10 from free spins, you must wager €200 before any remaining balance is withdrawable.

Maximum win or cash out cap

Many no deposit free spins cap the amount you can withdraw from them, often in the €20 to €100 range.
Game restrictions

Free spins may be tied to one game with specific volatility or RTP.
Expiry time

• Spins often expire within 24 hours to 7 days if not used.

• Winnings may also have a separate expiry date for completing wagering

Maximum bet per spin during wagering

You might not be allowed to raise your stake above a set limit while clearing the requirement.

The best value free spins are usually:

• No wagering or very low wagering

• Reasonable or no win caps

• On decent RTP games

Examples of Free Spin Offers

Here are simple, generic examples so you can see how free spins vs bonus money compare.

Example 1 – 20 no deposit free spins

• Offer: 20 free spins at €0.10 per spin

• You do not need to deposit

• Wagering: 40x winnings

• Max cash out: €50

If you win €8 from the spins:

• You must wager 40 x €8 = €320 before you can withdraw anything

• Even if you turn that €8 into €200 while wagering, the casino may cap your withdrawal at €50

Example 2 – 50 free spins with deposit, no wagering

• Offer: Deposit €20 and get 50 free spins at €0.10

• Winnings are paid as cash with no wagering

• No max cash out cap

If you win €18 from the spins:

• That €18 is simply added to your cash balance

• You can withdraw it, or keep playing with it

This second style usually has higher real world value, even though both advertise “free spins”.

What Is Bonus Money, and How Does It Work?

How Is Bonus Money Awarded at Online Casinos?

Bonus money (often called “bonus funds” or “casino bonus”) is a virtual balance the casino credits on top of your deposit. You cannot withdraw it directly as cash until you meet the rules.

You usually see bonus money in:

• Welcome bonuses, for example “100 percent up to €200”

• Reload bonuses for existing players

• Cashback or loss back deals credited as bonus funds

• Promotion days tied to specific games or events

How Can Bonus Money Be Used?

• Bonus money can usually be staked on a wide range of casino games, not just one slot

• Some games contribute less to wagering (for example table games or live casino might count 10 percent or 0 percent)

• Once you complete the wagering requirements, remaining bonus money converts to real cash, often subject to any stated win cap

You always need to read the contribution table and game list. It decides how fast you can turn bonus money into cash.

Typical Conditions of Bonus Money

Bonus money terms are often stricter than many players expect. Common items:

Wagering requirement on the bonus, or bonus plus deposit

• For example “35x bonus” on a €100 bonus means €3,500 in qualifying bets.

• “35x bonus plus deposit” on a €100 deposit plus €100 bonus means 35 x €200 = €7,000.

Game contribution rules

• Slots might count 100 percent

• Some slots might be excluded

• Table games and live casino can have lower or zero contribution

Maximum bet per spin or hand

Often a fixed amount, for example €5, while wagering is active

Maximum winnings from bonus money

Some offers cap how much converted cash you can withdraw

Expiry time

Bonus funds may expire in 7 to 30 days if wagering is not completed

The stricter the wagering and the tighter the caps, the less attractive the bonus money becomes.

Examples of Bonus Money

Example 1 – 100 percent match bonus

• Deposit: €50

• Bonus: 100 percent, so €50 bonus money

• Wagering: 30x bonus

• Wager target: 30 x €50 = €1,500

If, after wagering, you have €90 remaining, that amount becomes withdraw able cash, subject to any win cap.

Example 2 – 25 percent cashback as bonus funds

• You lose €200 over a week

• Cashback offer: 25 percent of net losses credited as bonus

• You receive €50 bonus money

• Wagering: 10x

• Wager target: 10 x €50 = €500

If you end wagering with €60 left, you can cash out that €60. If you lose the full €50 while wagering you get nothing extra, but your losses were at least partially offset by extra play time.

Free Spins Versus Bonus Money

To compare free spins vs bonus money, you need to look at four things:

1. Wagering requirement
2. Caps on winnings or cash out
3. Game restrictions
4. How you personally like to play

At a high level:

• Free spins are usually best for pure slot players who want a simple way to test a site with limited risk.

• Bonus money can be better for people who want flexibility across games and are comfortable grinding through wagering

Neither option guarantees profit. Both are tools that trade time and entertainment against your bankroll and risk tolerance.

Which Option Is More Valuable?

There is no single winner in the battle of free spins vs bonus money. Value depends on the details.

Free spins tend to be more valuable when:

• Winnings are paid as cash or have very low wagering

• There are no harsh caps on maximum cash out

• The spins are on a high RTP slot that you enjoy

Bonus money tends to be more valuable when:

• The match percentage and maximum bonus are generous

• Wagering is on the lower side and only on the bonus, not the deposit

• A wide range of games contribute at or near 100 percent

If two offers have similar wagering and caps, bonus money usually offers more flexibility. If bonus money has heavy wagering and tight caps while a free spins deal is low friction, the free spins will often win on real value.

What Are the Pros and Cons?

Free Spins Bonuses

Pros:

• Very low entry cost, sometimes no deposit needed

• Good way to try a new casino or slot without big financial risk

• You know exactly how many spins you are getting and at what value

• Simple mechanics, easy for beginners to understand

• Can be high value when wagering is low or zero and win caps are fair.

Cons:

• Often tied to a single slot you may not like

• No deposit free spins usually come with high wagering or tight win caps

• Small total bet value if spin count and stake size are low

• Spins and winnings can expire quickly

• No impact for players who only care about table games or live casino

Bonus Money

Pros:

• Larger potential value than most free spin packages

• Can be used on different games and styles, depending on contribution rules

• Useful for players who already planned to deposit anyway

• Cashback style bonuses can soften losing sessions

Cons:

• Wagering on bonus money can be very high

• Bonus plus deposit wagering multiplies the real cost of taking the offer

• Game restrictions can slow progress or block your favourite titles

• Max bet rules can make high stakes players feel boxed in

• Some bonuses lock your real money balance in with the bonus until wagering is complete

Understanding the Terms and Conditions of Free Spins and Bonus Money

If you want to squeeze real value out of any casino bonus, you need to get comfortable reading the small print. A simple checklist helps:

Is it no deposit, deposit required, or part of a bigger welcome package?
Is wagering on winnings, on bonus only, or on bonus plus deposit?
* What is the wagering multiple?
* Are there maximum win or cash out caps on the bonus?
* Which games are eligible and what are the contribution percentages?
* What is the max bet while the bonus is active?
* How long before the bonus or spins expire?
* Do any payment methods or countries not qualify?
* Do you need to opt in with a code or button click?

Spend two minutes on this before you accept anything. It saves frustration later.

How to Choose the Right Bonus for You

Think about how you actually play.

• If you are a casual slot player with a small bankroll

• Fewer, higher quality free spins with low or no wagering are often best

• If you already plan to deposit a decent amount and play across several games

• A fair, transparent bonus money deal can add meaningful extra value

• If you hate small print and just want simple play

Avoid high wagering offers altogether and look for plain free spins with cash winnings

Also remember that you do not have to claim every bonus. Sometimes the best choice is to skip complicated promos and play with your own cash on your own terms.

Final Thoughts

Both free spins and bonus money can add entertainment and a bit of extra value if you go in with clear eyes. The real trick is not figuring out whether free spins vs bonus money is “better” in theory. It is matching the right type of bonus to:

• Your budget

• Your preferred games

• Your patience for wagering and restrictions

Always:

• Treat bonuses as a way to extend your play time, not a shortcut to profit

• Set a firm budget, even when playing with “free” offers

• Walk away if the terms feel confusing, one sided or stressful

If you ever feel gambling is affecting your finances, mood or relationships, step back immediately and contact a professional support service in your country. Bonuses are meant to be a bit of fun on top of entertainment you can afford, not a reason to dig a deeper hole.