Casino and Tournament giant Online Vegas Casino is gearing up for the holiday season with a special $200,000 Guaranteed “Countdown to Christmas” Freeroll Slot Tournament.

The excitement, and obviously, the tournament itself, begin on December 4th at 8PM (ET) and runs right until Christmas Day. If you’re fortunate enough to land 1st Place, you’ll walk away with a hefty $55K. Prizes are also awarded up to the 1000th finisher, offering a great opportunity of at least taking home some ‘gifts’ to mark the holiday season.

The fact that it’s absolutely free to enter this tournament makes the event all the more impressive. The only requirement is setting up a real money account – no deposit or credit card information is required.

The featured game for the Tournament is Online Vegas’ most popular slot game, 5-Reel Wheel of Chance. The Game Show themed slot features a ‘Wheel of Chance’ spin for potential big winnings during the bonus round and also features a scatter pay that offers free spins.

Players begin with a starting balance of $80 at the tournament start. Your goal is to try and increase this balance as high as you can; you’ll get to simultaneously monitor your progress (i.e. ranking) on the bottom left of the game screen while you move along.

If you find yourself with a balance below $20 at any point during the tournament, there’s the option to re-load for only $15.99, which will give you $325 to then play with as you continue.

It doesn’t end there, however. Right after the tournament is over, you can try your luck in the New Year’s $2010 Guaranteed Freeroll that starts December 31st 2009, and ends January 1st 2010. Check the Tournament lobby frequently for upcoming Tournaments, including the Christmas Weekend Madness $85,000 Guaranteed tournament. Starting December 25th, 2009 at 8PM (ET) and ending December 29th, 1st Place prize is a cool $20,000 and there are payouts all the way to 1000th Place, just like the Christmas Countdown opportunity.