Free spins value
Free spins value is the stake each free spin is played at, multiplied by the number of spins, so 100 spins at €0.10 carry €10 of stake value. That headline figure is not what the spins are worth to you. What they return on average depends on the slot’s RTP, and what you can actually withdraw depends on wagering, caps and expiry in the terms.
How free spins value is calculated
Start with stake value: spins times the spin value the operator fixes in the terms, often €0.10 or €0.20. Multiply that by the slot’s RTP and you get expected winnings, so €10 of stakes on a 96% game returns €9.60 on average.
Then subtract the cost of wagering on those winnings, which is winnings times the multiplier times the house edge.
At 96% RTP the edge is 4%, so anything past 25x on the winnings costs more on average than the spins return. Read the line that sets the spin value word for word; if the terms never state it, you cannot value the offer at all.
Six free spins offers worked through
The rows below are illustrative offers, not any operator’s current promotion, each worked out on a 96% RTP slot.
| Offer | Stake value | Expected winnings | Wagering on winnings | Value after wagering |
|---|---|---|---|---|
| 100 × €0.10 | €10.00 | €9.60 | None | €9.60 |
| 50 × €0.40 | €20.00 | €19.20 | None | €19.20 |
| 100 × €0.10 | €10.00 | €9.60 | 10x | €5.76 |
| 20 × €0.50 | €10.00 | €9.60 | 20x | €1.92 |
| 50 × €0.10 | €5.00 | €4.80 | 30x | Below zero |
| 200 × €0.05 | €10.00 | €9.60 | 40x | Below zero |
What free spins value is confused with
The number of spins is the figure most often mistaken for value, and it tells you little on its own: 50 spins at €0.40 carry twice the stake of 100 spins at €0.10.
Spin value is also not your withdrawal limit. Many offers cap free spins winnings, often at €20 to €100, and that cap overrides every calculation above.
Expected value is an average across many players, not a forecast.
