There’s fierce competition among casinos for players, and one way of winning over players is through offering all sorts of introductory welcome bonuses and promotions in order to attract new business. Casinos additionally offer incentives to retain players, and such incentives include loyalty programs that are akin to the frequent flyer programs used by airlines.
Basically, players who achieve a higher level in the reward program become eligible for sweeter loyalty deals, with the attendant free cash bonuses matching the player’s VIP status. These bonuses are typically a lot more favorable in terms of the wagering requirements and maximum bonus values. Some of these bonuses may be offered as part of a weekly or monthly reward scheme, and some casinos even offer VIP players random rewards just because.
To better understand these player loyalty programs, this guide below seeks to expound on their inner workings.
Loyalty programs are mainly based on bonus points, also known as comp points. Comps, which are earned by making bets, are basically complimentary services and items casinos give out as incentives for players. There’s a base rate to control the points-earning structure and it can be as low as earning a single point for every $10 wagered at the casino.
Accumulated points that are saved in a player’s account can then be converted into rewards, either automatically upon the player earning sufficient numbers, or when the player chooses to cash in his/her points at the casino.
The accumulated comp points players earn are converted into a reward which is usually a bonus cash payout which, however, is not real money since it cannot be cashed out. Instead, this payout is for betting on any game the casino offers for a chance to win real cash.
There are some casino portals that provide a slew of unique rewards such as trips, prizes, and even an assortment of merchandise. Among these are Inter Casino and Virgin Casino which are famous for their selection of special rewards. The status in the royalty program is the basis of the conversion rate which determines the bonus cash values or other rewards players get for their accumulated points.
Every player has to begin at the bottom and work their way up on the loyalty programs as many are multi-leveled. Players get to the higher levels either through depositing a certain amount of money or by earning a specific number of comp points; the higher the level, the more points earned for every bet made and the better the conversion rates.
Moreover, there are casinos that will provide further benefits with every higher level a player reaches such as higher monthly bonuses, faster withdrawals, better deposit bonuses, and special cashback rates on net losses among other benefits.
With some casino franchises, the highest levels of their player loyalty programs are solely reserved for the VIP pool, while others are only accessible via invitation by the casino’s management. The upshot of this VIP setup is the ultimate treatment that comes with higher rewards as well as a host of the best VIP perks.
Just as there are a variety of online casinos to choose from, there are equally a variety of loyalty programs, with a raft of unique special variations to the basic system. The auction loyalty programs easily stand out as the most common variation since this type of program is based on an auction system rather than a trading system. The bets made at the casino still get to earn points but a player uses these comp points to try to win prizes.
Limitations On Rewards
Typically, the more likely a game is to payout, the fewer comp points a player gets and as such, some games are bound to earn more comp points than others. In most cases, slots titles have the most points, blackjack titles have the fewest, and all other game titles fall somewhere in between.
Additionally, there are casinos that periodically provide special promotions in which some select games pack a double or triple reward scheme. Players who plan on a lot of wagers should thus be on the lookout for them. However, players should make sure they are familiar with the terms and rules before joining any new loyalty program because there may be some limitations.
The above are merely general guidelines to make players aware of the rudimentary working of loyalty programs. Since there are a plethora of loyalty programs all with different structures, players should not expect results right away but the point to note is the loyalty programs are designed to rewards loyal players and they can be quite profitable. As such, play long, play hard, and get rewarded!