If you spend time in online casinos, you may notice that almost all of them have the same event: tournaments. These events, mostly held for slot machines, allow you to compete against other players and get a chance to get a share of the prize pool. You can visit https://verdecasino.com/en/tournaments to see what they look like. So, why are tournaments something that happens in every online casino? Why is this event organized, and why is it so popular? We answer these questions below.
What Is a Casino Tournament?
Let’s start with the basics first: what is a casino tournament? This is usually a weekly event, but sometimes it is organized daily or monthly too. The casino selects a range of games for this event, usually slot machines, from a particular studio. Players don’t need to do anything to participate in the tournament: they join the moment they play one of the games included in the event. Tournaments are points-based, and they have a scoreboard. To earn points, you must do one of the following:
- Place a bet. Points are awarded based on the size of the bet placed. For example, wagering 10 EUR/USD will earn you 100 points. Winning (or losing) in the game is not important, and you can continue to earn points by placing bets. The player with the most bets wins the tournament, not the luckiest player.
- Simply win. Points are awarded based on the game outcome, regardless of the bet amount. So, the bigger you win in the game, the more points you have. For example, winning 10 EUR/USD gives you 100 points. The luckiest players win the tournament, regardless of their budget.
When the tournament is over, the top 10 players get the lion’s share of the prize pool. The prize in the pool is almost always cash. But mostly consolation prizes are also given to almost every player who participates in the tournament (for example, free spins). Some tournaments have really big prize pools. For example, the Drops & Wins event hosted by Pragmatic Play awards close to one million Euros every month.
The Psychology Behind Casino Tournaments
Events that encourage members of a particular community to compete against each other are popular in every industry. For example, in a social experiment called “Do-it-in-the-Dark” conducted at Princeton University, students were encouraged to consume less energy, and the students who managed to save the most energy were offered a study-break prize. This was such a successful experiment that it has turned into an activity practiced in almost every US university today.
Competitive events appeal to human primal urges, and a large part of the population does not want to miss the chance to show that they are better than others. Of course, it is also possible to make this encouragement for a positive purpose. For example, if a collaborative project generates social benefits, you can be sure to find many participants. But determining how much of a prize to get based on ranking on a scoreboard is something that appeals to those primal urges in us that we still can’t get over. In short, some people don’t run away from a challenge and do their best to show they’re the best.
It is possible to say that this statement is valid for all participants who are placed in the top 10 of the tournaments (regardless of the type and organizer). They really like competing and see the tournament as an opportunity to prove something. That’s not a bad thing: That’s how athletes who compete in the Olympics are made. It’s not surprising that in a casino tournament, you see mostly the same names in the top 10: these participants are willing to spend more than their share of the prize pool to get the lead.
Casinos Like Them Too
For most of the rest of the participants, casino tournaments are just fun events. They get the opportunity to earn an additional reward by continuing to do something they are already doing (playing games). That alone is enough to encourage them to participate in the tournament. Since this event does not have an “entry fee”, they have nothing to lose, but at least they know they can get consolation prizes, and no one will say no to extra free spins.
In short, casino tournaments are events that appeal to the competitive urges of players who are ready to spend big while offering additional entertainment to other players, which is why they are popular. Of course, they are also beneficial for casinos: players play more than ever to earn points, and the casino generates more revenue than ever before. This also shows another significant difference between online casinos and land-based casinos. Tournaments are events held at very long intervals, exclusively for professional gamblers at land-based casinos. In online casinos, they are open to everyone: anyone who wishes can join them, at least every week.