As you can only play slots and casino-style games with virtual currency rather than real money at The Money Factory, cashout technically isn’t available. However, you can redeem prizes if you win when playing with Sweepstakes Coins (SC).
If you play through your SCs the required number of times (1x), meet the 100 SC minimum balance requirement, and complete KYC identity verification, you can make a redemption request. You can redeem your prize via bank transfer or Skrill. We’ll cover all the details, including how to get and play with SCs, below.
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The Money Factory Highlights
- Register and claim a welcome bonus of 15,000 GC and 3 free SC
- Daily reload bonus of 1,000 Gold Coins and 0.2 Sweeps Coins
- Diverse games collection provided by leading software developers
The Money Factory redemption - a quick overview
As we explained in detail in our
The Money Factory review, this site is a sweepstakes casino, rather than a gambling website or “traditional” online casino. This means that, instead of playing slots and other casino-style games using real money funds, you play with two virtual currencies: Gold Coins (GC) and Sweepstakes Coins (SC).
Both of these currencies have no real-world value, and if you play games you will only ever get winnings in the virtual currency that you’re playing with. As a result, you cannot receive a real money payout directly from gameplay or withdraw funds on this site.
What you can do, however, is redeem prizes if you are playing the games with the promotional virtual currency, Sweepstakes Coins (SC). To understand fully how this works, we must take a detailed look at the key differences between the two coins.
Gold Coins (GC) vs Sweepstakes Coins (SC)
Here’s an explanation of how each of the two on-site virtual currencies works:
- Gold Coins (GC)
can be used to play games just for fun. They have no real-world value and cannot be redeemed, or traded. You can get free GCs through bonuses and optionally purchase them in bundles using your credit card, Skrill, or Apple Pay account.
- Sweepstakes Coins (SC)
are promotional tokens that you cannot purchase and can only obtain for free through various promotions. However, if you meet the playthrough and minimum balance conditions, and complete KYC verification, SCs can be redeemed for real prizes.
| Free with promotions | Purchasable | Redeemable |
| Gold Coins (GC): | Yes ✅ | Yes ✅ | No ❌ |
| Sweepstakes Coin (SC): | Yes ✅ | No ❌ | Yes ✅ |
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How to redeem on The Money Factory - step-by-step
Once you have at least 100 redeemable SCs in your balance (i.e. 100 SCs that have been played 1x on games), here’s how to request a redemption cashout at The Money Factory:
- Log into your account
- Click on your SC balance and select “Redeem”
- Select your redemption method
- Enter the number of SCs that you wish to redeem (minimum 100 SC or 25 SC for gift cards)
- Complete KYC verification by scanning the QR code with your phone camera and uploading your documents
- Submit your request
If and when your request is approved, you will then have to wait up to 10 days for the payment to reach your account. If your request is rejected, you will usually be told why and instructed to contact customer service.
It would be nice if players could get a The Money Factory instant bank transfer. But at the moment, bank transfers take longer than Skrill and gift card redemptions.
Completing KYC verification for redemptions
The reason why you need to complete KYC verification before you can request a redemption payout at The Money Factory is to prove that you are who you say you are.
More importantly, they have to ensure that you are above the legal limit (18+ or whatever the limit is in your state) and that you are not located in one of these states where the site doesn’t operate:
- Idaho
- Louisiana
- Michigan
- Montana
- Nevada
- Washington
Here’s a deeper and more informative look at the documents required to complete KYC verification before redemption:
| Photo ID | Proof of address | Selfie |
- US passport
- Driver’s license
- State-issued ID card
- National ID card
|
- Phone bill
- Utility bill
- Bank statement
- Credit card bill
| Must be taken on your phone that day holding your ID card |
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The Money Factory redemption T&Cs
Now that you know how to get the Sweepstakes Coins (SC) that you need to play with for the chance to win and redeem a prize, let’s take a look at some important terms and conditions.
Firstly, for your SCs to be redeemable, they need to be actively played through at least once (1x) on slots and other eligible casino-style games on the site.
You then need a minimum of 100 SCs in your balance before you can request to redeem them for a prize via Skrill or bank transfer. If you choose to redeem your SC for a gift card, you only need a minimum of 25 SC.
On top of that, you need to have a fully verified account to make GC purchases and SC redemption requests on your account. Even if your email address is verified, you will need to complete KYC verification before each redemption can be processed, which we’ll explain below.
The most important redemption facts and conditions
Understandably, the information that we provided above might be a lot to take in. To summarize, we’ve packaged all of the key information neatly into this table for you:
| SC playthrough requirement for redemption: | 1x |
| Minimum redemption balance requirement: | 100 SC for bank transfer, 25 SC for gift cards |
| Redemption payment methods: | Bank transfer, Skrill, and gift cards |
| Redemption time (Skrill): | Up to 72 hours |
| Redemption time (Bank transfer): | Up to 10 days |
| KYC verification required for each redemption: | Yes ✅ |
| Required documents for redemption KYC: | Photo ID, proof of address, and a selfie |
How to get free SCs at The Money Factory
Before we even look at The Money Factory payout system, we first need to focus on how you can get Sweepstakes Coins (SC) to play with in the first place. As briefly explained above, unlike Gold Coins (GC), SCs are never available for purchase.
You can only get free SC coins at The Money Factory through bonuses and promotions. To start explaining your journey towards redeeming a prize, we must begin by looking at the bonuses and promotions you can use to obtain some free SCs for your balance.
New player offers
To start with, all players get 15,000 GC + 3 SC free as a signup bonus. If you choose to make an optional GC purchase, you’ll be offered a special package that gives you 300% bonus Gold Coins for $7.99. This package, like all other Gold Coin packages, will also give you free Sweeps Coins as a bonus after your GC purchase.
How to get free SCs as an existing player
Once you have claimed the free signup offer and first GC purchase bonus, you can also get additional rewards through these offers:
- Daily reload: 1,000 GC + 0.20 SC FREE every 24 hours
- Refer-a-friend: Up to 10 SC FREE per referral
- Social media signup: Up to 4 SC FREE (one per social media account followed)
- Mail-in request: Get 3 SC free when you send a handwritten request by post
- GC purchase bonus: Get free SCs as a bonus when you purchase promo packages of GCs
- No-cost giveaways: Enter on Facebook, Instagram, X (Twitter), and Telegram to win free SCs
At the moment, there are no
The Money Factory promo codes for existing players. However, keep an eye on their newsletter and on their social media pages, as this may change in the future,and promo codes are another good way to get free SCs.
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The Money Factory redemption: the pros and cons
Now that we’ve covered all of the key details of the process, here are the main pros and cons of the entire SC redemption process at The Money Factory:
Exploring Online Platform Benefits
- Free SCs with the welcome offer
- Lots of ways to get free SCs
- Bank and Skrill redemptions
- Only a 1x playthrough requirement
- 100 SC minimum for bank transfers
Tips to help you redeem at The Money Factory
Before we round things up on this topic, here are our top tips to help you use your SCs and potentially win enough to redeem a prize:
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🎰 Collect as many free SCs as possible
First and foremost, make sure to use all of the free SC promotions that we mentioned in this article. You can never purchase SCs, so you need to log into your account every day, follow The Money Factory on social media, and more to get as many free SCs as possible.
🔒 Verify your identity early
You cannot redeem your SCs without verifying your identity. The verification process is typically fast, but it can take several days, especially if the KYC verification system has issues with your documents or your selfie. Doing it early gives you plenty of time to clear up any issues so you won't have to wait once you meet all of the other SC redemption requirements.
🎲 Play high RTP/low variance games
At the end of the day, you want to make sure to play through your SCs wisely while managing your balance. The best way to do this is by playing low (0.20 SC per spin) and by looking for high RTP and low variance games.
My final word on The Money Factory cashout and redemption
In conclusion, you can only redeem prizes with your Sweepstakes Coins (SC) and not your Gold Coins (GC). To be able to redeem a prize, you need to play through your SCs at least once on eligible games and have a minimum of 100 SCs in your balance, or 25 SC for a gift card redemption. Additionally, you will need to complete KYC verification before you can redeem a prize.
All of these are fair and standard requirements found across many other social casinos. There are no unnecessary hurdles to discourage players from redeeming their SC winnings. Combine that with the wide variety of generous bonuses available at The Money Factory, and the result is a social casino that I can confidently recommend for anyone looking to have fun and potentially win prizes.
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The Money Factory Cashout FAQ
💰 How does The Money Factory withdrawal work?
The Money Factory is a
sweepstakes casino
and not a real money gambling site. As a result, you cannot deposit or withdraw funds, as you can only play games using virtual currencies. However, you can redeem real prizes with your Sweeps Coins (SC) once you meet the minimum playthrough and balance requirements.
💸 Does the Money Factory payout?
On this site, you play casino-style games using virtual currencies: Gold Coins (GC) or Sweepstakes Coins (SC). If you win when playing slots, your payout will be in the virtual currency that you’ve used to play. There are no traditional cash payouts. You can, however, redeem your SC winnings for real cash prizes. This redemption process is subject to terms and conditions that you should read before you start playing.
⏱️ How long does The Money Factory take to pay out?
Like all sweepstakes casinos, the Money Factory works with prize redemptions, not payouts. Depending on the redemption method you select, it can take between 72 hours and 10 business days to receive your prize.
