The $50,000 Slot Tournament from BetOnline launched on February 17 and runs through Monday February 22. The best part is that it is completely free to enter.

You may remember the free tournament that was run in January. This is the February version.

Players can enter for free to take their chances on the Fruit Loot slot machine. Each user at BetOnline will be given 250 credits to start with and try their luck. If you run out of chips, you can take advantage of unlimited rebuys at $5 each. You’ll get 250 credits for each of those rebuys as well.

The $50,000 Prize Pool will be shared amongst the top 50 players, so you’ll have to be one of the best in this tournament, but if Lady Luck is on your side, you can win a really nice price.

Here are the bonus amounts for the February $50,000 Slot Tournament:

1st – $15,000

2nd – $10,000

3rd – $5,000

4th – $3,500

5th – $2,000

6th-10th – $1,000

11th-20th – $500

21st-30th – $250

31st-50th – $100

There is a 50x rollover requirement on bonus winnings, which means that you will need to place wager your price amount 50 times over before you can request a withdrawal of those funds. The maximum cash out on winnings is two times the prize amount.

Winnings from the prize pool can be used on select casino games, excluding live dealer games or slots with progressive jackpots.

Bonuses are valid for seven days after the funds are added to your account. Whatever you don’t use, you will lose, so it is important to make sure that you use those funds in a timely fashion.

If you don’t have an account at BetOnline, now is the time to sign up for one. If you use Bitcoin, you can get some really big deposit bonuses, but a sweet deposit bonus is available no matter what deposit method you use.