iCoins are the currency of iwin.com. You receive them by playing games and by having banner ads displayed while doing so. These iCoins are tradable for chances at prizes. There are several games on the site that are iCoin gold mines, and there are others that are simply a waste of time (from a prize hunting perspective).

What really limits the potential of the site to win real prizes is that you can only put up to 100 chances into a raffle at a time (at a cost of 6 iCoins per chance). This means that there is only a limited chance to win something at any given time. Since the site is getting more and more popular, the chances of getting prizes are more and more slim; as daily prizes can see upwards of 100,000 chances to a drawing. There are other ways to get iCoins (referrals, polls, and the like) but games are the most common way.