How do casinos make money on free spins? Mostly they don’t, at first: a pack of spins is a marketing cost, like a supermarket loss leader. The casino earns its money later, through the house edge on the real-money play of customers who stay. Small spin values, chosen games, expiry dates and terms keep the up-front cost predictable. Here are the numbers behind that model and the UK rules that now limit it.
Free spins are a customer acquisition cost; casinos expect to recover it from later real-money play.
100 spins at 10p have a face value of £10 and, on a 96% RTP game, an average payout of about £9.60.
Spin value, game choice, expiry, payment exclusions and win caps make the cost predictable.
Since 19 January 2026, wagering on bonuses is capped at 10x and mixed-product offers are banned.
Short answer
Spins are a marketing cost recovered from later play
Typical spin value
10p
Average payout on 100 × 10p (96% RTP)
About £9.60
Wagering cap
10x since 19 January 2026
Remote gaming duty
40% of operator profits since 1 April 2026
How do casinos make money on free spins? The short answer
A casino gives away spins to win a new customer, accepts that most of the spin budget will be paid back to players as winnings, and then relies on the house edge on future play to make a profit. Any single player may walk away ahead from a spins offer, and the casino plans for that. What matters to the operator is the average across thousands of new accounts.
That is the same logic as a coffee shop’s loyalty card or a newspaper’s first-month discount, with one important difference: gambling carries a risk of harm, so UK rules control how bonuses can be designed and who can receive them. Our broader guide to how online casinos make money puts free spins in the context of the whole business.
What a pack of free spins really costs a casino
The face value of a spins offer is the number of spins multiplied by the value of each one. The expected cost to the casino is lower, because the slot’s RTP is below 100%: on average, the game pays back a little less than it takes in, even when the stake is the casino’s money.
Face value and average payout of two current partner spin offers (checked 5 October 2026)
Offer
Spins × value
Face value
Game RTP
Average payout
Coral: bet £10 on slots, get 100 free spins
100 × 10p
£10.00
Depends on selected game; 96% used as an example
About £9.60
PlayOJO: 80 free spins on a £10 first deposit
80 × 10p
£8.00
96.71% (Big Bass Bonanza)
About £7.74
These averages hide a wide spread. Many players win a few pounds; some win nothing; occasionally one lands a bonus round worth far more. Because neither offer above carries wagering on winnings, the average payout is close to the casino’s real cost, before marketing and tax. 18+ and terms apply to both offers.
The qualifying deposit or bet
Most UK spins offers need a qualifying deposit or stake first. The deposit itself is not income for the casino; it remains your money until it is staked and lost. What the casino earns is the edge on what you stake. For Coral’s offer, the £10 bet on slots at a typical 4% edge has an expected value to the casino of about 40p. That small sum is nowhere near the £9.60 average cost of the spins.
So the qualifying step is not where the profit comes from. Its purpose is to confirm you are a real, verified customer who has funded an account and is willing to play, which makes it more likely you will return. Our page on deposit 10 get free spins offers looks at that structure across the market.
Where the money is made: later real-money play
Casinos think in terms of customer lifetime value: the total margin a customer generates over months or years. If a new player goes on to stake £500 of their own money on slots with a 4% edge, the casino’s expected margin is £20, which covers the spins and the marketing behind them. If they stake nothing more, the spins were a cost with no return.
Illustrative economics of one new customer (hypothetical figures)
Stage
Expected effect for the casino
Marketing and affiliate cost to acquire
Cost
Qualifying £10 bet at 4% edge
About +40p
100 free spins at 10p, 96% RTP, no wagering
About −£9.60
Later play: £500 staked at 4% edge
About +£20
Remote gaming duty at 40% of profits
Reduces what is left
The table is an illustration, not a forecast of any player’s spending. It shows why casinos care more about retention than about the spins themselves, and why the regulator watches closely to make sure that drive does not tip into encouraging harmful play.
This model relies on players, on average, losing money over time. That is the central reason to treat gambling as entertainment with a cost, not a source of income.
How offer terms keep the cost of free spins predictable
Bonus terms are where casinos manage the risk of a spins offer. The most common tools are listed below; each one is there to keep the average cost close to the planned figure.
Spin value. A fixed 10p spin limits the size of any single win and keeps face value low.
Game choice. Spins are tied to selected games, so the operator knows the RTP and volatility in advance.
Expiry. Coral’s spins must be accepted within 48 hours and used within 7 days; unused spins cost nothing. See free spins expiry.
Payment exclusions. Coral and Ladbrokes exclude deposits made with methods such as PayPal, Skrill, Neteller and Paysafe from their offers, which limits repeat claims and bonus abuse.
Wagering. Where it applies, wagering requires winnings to be replayed; since 19 January 2026 it is capped at 10x.
Maximum win or cash-out caps. Some offers limit what spins winnings can convert into; check the maximum cash-out term.
One offer per person or household. Prevents the same person collecting the offer repeatedly.
Why some casinos offer free spins with no wagering
No-wagering spins pay winnings as cash straight away, which makes them simpler and, on average, more valuable to the player. The casino accepts a higher up-front cost because a clear, easy-to-understand offer is more appealing and can win customers who stay longer. PlayOJO built its brand around this approach, and Coral’s current spins also carry no wagering on winnings. Our no-wagering free spins page compares the format with wagered offers.
Rules that shape how free spins can be offered in Great Britain
Rule
Effect on free spins
Since
10x wagering cap
Limits playthrough on any wagered bonus
19 January 2026
Mixed-product ban
No ‘bet on sport, get casino spins’ offers
19 January 2026
Marketing consent by product and channel
Spins offers by email or SMS only if you opt in
1 May 2025
Age and identity verification
No play, even with spins, before you are verified
7 May 2019
Harm indicators
Bonus take-up must stop for customers showing strong signs of harm
12 February 2023
Operator costs have also risen. Remote gaming duty went from 21% to 40% of profits on 1 April 2026, as shown in the government’s gambling duty changes (opens in a new tab), and the statutory gambling levy has applied since April 2025. Higher costs tend to make operators more selective about the size of welcome offers.
What this means for you as a player
Knowing the economics helps you judge an offer clearly. A spins offer is a way for you to try a casino with a small amount of the operator’s money at risk, not a route to income. Use these steps to weigh one up:
Multiply spins by spin value to get the face value.
Check the game’s RTP in its help screen and multiply to get an average payout.
Read whether winnings are cash or carry wagering, and at what multiple.
Check expiry, eligible payment methods and any cap on winnings.
Decide whether you would want to play at the casino anyway; if not, the offer is not a reason to start.
Set a deposit limit before your first deposit, which UK casinos must prompt you to do since 31 October 2025.
Free spins myths compared with how the economics work
Myth
Reality
Free spins are set to lose
Spins run on the same certified game maths as paid spins
Casinos profit on the spins themselves
The spins usually cost money; profit comes from later play
Winning on spins gets your account flagged
Winning within the terms is expected and planned for
Bigger spin packs mean better value
Value depends on spin value, RTP and terms, not the headline number
Free spins offers from UK-licensed casinos
Both partner offers below use 10p spins without wagering on winnings. Coral gives new players 100 free spins after depositing and betting £10 on slots (selected games, 48 hours to accept, valid 7 days; Neteller, PayPal, Paysafe, Skrill, prepaid cards and certain debit cards don’t qualify; runs 1 October 2026 to 1 February 2027). PlayOJO gives 80 free spins on Big Bass Bonanza with a first deposit of at least £10 (new UK customers excluding Northern Ireland; winnings paid as cash). 18+, terms apply. See the latest free spins offers for more.
Both offers use 10p spins with no wagering on winnings: Coral gives 100 free spins after a £10 slots bet and PlayOJO gives 80 on a £10 first deposit. 18+, terms apply.
Significant terms: 18+. New players only. Offer runs 01/10/2026 to 01/02/2027. Deposit (certain types excluded) and bet £10+ on slot games to get 100 free spins (selected games, £0.10 each, 48 hrs to accept, valid 7 days). No wagering on free spin winnings. Deposits by Neteller, PayPal, Paysafe, Skrill, prepaid cards and certain debit cards do not qualify. Restrictions and T&Cs apply. GamCare.org.uk
Read the Coral reviewLicence: LC International Limited, UKGC account 54743. Offer checked 5 October 2026.
Significant terms: 18+. New UK customers (excluding Northern Ireland). First deposit only. Minimum deposit £10. 80 free spins on Big Bass Bonanza, £0.10 each. No wagering requirements; winnings paid in cash. Cannot be used with any other offer. Only available to players who arrive through the designated offer link. Full T&Cs apply. GamCare.org.uk
Read the PlayOJO reviewLicence: Skill On Net Limited, UKGC account 39326. Offer checked 5 October 2026.
18+. Gambling should be entertainment that costs money, not a way to make it. Set a deposit limit before you play: how to set deposit limits. Free, confidential help: National Gambling Helpline 0808 8020 133.
Frequently asked questions
Do casinos lose money on free spins?
Often yes, on the spins alone. A pack of 100 spins at 10p costs the casino about £9.60 on average if the game has 96% RTP and winnings carry no wagering, while the qualifying £10 bet earns it only about 40p in expected margin. The casino accepts that loss as the price of a new customer, expecting to recover it from future real-money play. Our guide to how online casinos make money shows how the sums fit together.
Why do casinos give away free spins?
Casinos give spins to attract new customers in a crowded market and to give existing customers a reason to return. Spins are an easy way to let someone try games with limited risk to their own money. In the UK, offers must meet the Commission’s rules on fair, clear terms and the 10x wagering cap, and promotional emails can only go to customers who have opted in. See our page on how casino promotions work for the wider picture.
Are free spins rigged to lose?
No, free spins at UKGC-licensed casinos run on the same certified game maths as paid spins; the RTP and random outcomes do not change because the casino is funding the stake. What limits the value is the spin size, the choice of game and any terms on winnings, not hidden settings. Games are tested by independent labs against Commission standards before release. Our answer to are online casinos rigged explains how fairness is checked.
How much are 100 free spins worth?
One hundred spins at 10p have a face value of £10. On a slot with 96% RTP, the average total win is about £9.60, though any one player’s result can be much higher or lower, including nothing at all. If winnings carry wagering, the realistic value is lower; Coral’s current 100 spins (after a £10 slots bet, 18+, terms apply) carry no wagering on winnings. Our 100 free spins page compares offers of that size.
Why do free spins have a 10p stake?
A fixed 10p stake keeps the face value of the offer modest and the maximum win from any single spin limited, which makes the cost predictable for the casino. It also keeps spins comparable across offers: 50 spins at 10p are worth £5 and 200 are worth £20. A few offers use higher values, which raises face value. Always multiply spins by stake rather than comparing headline numbers. Our bonus spins vs free spins page explains naming differences.
Do casinos make money when free spins expire?
Expired spins do not earn the casino money; they simply never cost it anything. Every unused spin is a saving against the planned budget, so short expiry periods reduce the average cost of an offer. Coral’s spins must be accepted within 48 hours and used within 7 days, for example. Check expiry dates as soon as spins are credited and use them within the window if you want their value. Our bonus expiry guide covers the common time limits.
Why are some payment methods excluded from free spins offers?
Casinos exclude certain methods, often e-wallets and prepaid cards, mainly to limit repeat or anonymous claims and the cost of bonus abuse. Coral and Ladbrokes, for example, exclude PayPal, Paysafe, Neteller, Skrill and prepaid cards from their welcome offers, and Coral also excludes certain debit cards. Using an excluded method usually means no spins, even if the deposit is accepted. Our page on why you can’t use PayPal for the bonus explains the common reasons.
Has the 10x wagering cap changed free spins offers?
Yes, since 19 January 2026 no UK casino bonus can require funds to be played through more than ten times, so spins winnings can no longer carry 35x or 50x wagering. Many casinos had already moved towards low or no-wagering spins, and the cap pushes the market further that way. The same date also banned offers that combine casino spins with sports bets. Read our page on the 10x wagering cap for the detail.
Do affiliate sites like this one get paid for free spins sign-ups?
Yes, affiliate sites are typically paid by casinos for customers they refer, through a fixed fee, a share of revenue or both, and that is part of what an offer costs the casino. This site earns commission from the partner casinos it features, which never changes the facts we publish about an offer’s terms. UK advertising rules apply to affiliates as well as operators. Our advertiser disclosure and guide to what a casino affiliate is explain the arrangement.
Gambling can be addictive. Free, confidential help is available 24 hours a day from the National Gambling Helpline on 0808 8020 133. Get free support from GamCare or NHS gambling support, or block yourself from all UK-licensed gambling sites with GAMSTOP.
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