Loyalty programs offer casino operators an effective way to keep players coming back, which means increased revenue for them. In return, some offer considerable loyalty bonuses that reward players with anything from extra money in their account to free spins at their favourite slots. Below, we take a closer look at loyalty programs and how they work so you know what you’re agreeing to when you sign up and deposit.
Most people are aware of new player bonuses: extra funds or free bets that are awarded to new players when they join online casinos. These are popular with all casinos but have become even more generous with the increased acceptance of cryptocurrencies. For example, Crypto News’ guide on crypto casinos lists casinos that offer up to $20,000 or more in sign-up bonuses. According to crypto editor Sergio Zammit, these bonuses are a great way to encourage new players to the casinos.
However, while new player bonuses do attract first-time players, it can be difficult for casinos to retain players. As well as having to provide a wide range of games, decent jackpots, and reliable and secure software, many iGaming sites turn to loyalty programs and loyalty rewards as a means of doing exactly that.
A loyalty program rewards players when they deposit money or place bets. They work similarly to shopping rewards programs and can be very beneficial to the player. The most common type of loyalty program is a point-based scheme, which rewards points based on how much the player spends or how many wagers they place. A very simple scheme might offer 1 point for every £10 spent, for example.
The player can redeem these points as free bets. There may be minimum values that have to be met before the player can redeem, which is another way the casino can ensure players keep returning, rather than joining other casinos.
VIP programs work in a similar way to point-based schemes but offer additional bonuses beyond extra bets and they enable casinos to benefit from the psychology of gamification. VIP status is typically achieved by accruing a certain number of points or by placing wagers of a minimum value within a given timeframe.
As well as free bets and deposit matches, these programs can offer additional incentives like free birthday bets, faster withdrawals, and access to limited tournaments and special events. If the player’s deposit or betting values drop below the threshold, they will usually be removed from the program.
Subscription programs are similar to VIP programs, offering access to special tournaments and faster withdrawals. But rather than gaining access by meeting wagering requirements, the player pays a monthly or annual subscription to be part of the program. Although this does cost additional money, it negates the need to have to place bets every month.
Reload bonuses can be considered a type of loyalty scheme. A reload bonus is similar to a first-deposit match except it matches second and subsequent deposits. There might be minimum or fixed deposit values that need to be met to enjoy these bonuses, and there may be restrictions on how many or how often they can be used.
From the player’s point of view, joining or actively participating in a loyalty program offers the primary benefit of increasing their betting bank or enjoying free bets. Other benefits might include faster withdrawals or participation in special events and otherwise inaccessible tournaments.
Acquiring new customers costs more than retaining existing ones, but it’s also much more difficult to attract a new player. Hence, in most cases, loyalty programs are not as generous as new-player bonuses, but they still incentivise playing at the same casino, where the player will likely have found some favourite games and appealing jackpots.
Some casinos automatically enrol players in their loyalty schemes and VIP programs, while others might require that the player opts in to become a part of the program. If you intend to hang around, enjoy the games that a site has to offer, and you envisage yourself depositing more money and playing more games, there is no reason not to join these programs.
However, with such a huge selection of online casinos available and a great variety of bonuses and schemes, don’t feel tied to the same outlet. Try a few casinos to determine which one offers the best experience. Test their deposit and withdrawal times. Ensure they offer your preferred payment method, and always use a reputable site that takes online security and privacy seriously.