Casino Financial Services Providers Offer PromosBy: Adam Richards, Friday January 1st 2010
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It is a known fact that the online casino industry is extremely competitive and therefore online casinos offer attractive promotions in order to retain and increase market share. Online casinos accept payments from their customers through a large number of financial services providers most of whom offered a variety of electronic payment options. These financial services providers include entities like Moneybookers, Ukash and Neteller. Over the last few years the financial services providers to online casinos have proliferated and that space has also become extremely competitive. Therefore many of these financial services providers have started offering promotions to players who use their products in order to make payments to online casinos.
These promotions are not to be confused with the alternative payment bonuses offered at online casinos. It is true that these bonuses are offered for using specific financial services providers, but these bonuses are offered by the online casinos and accrue to the players' online casino accounts. The promotions offered up by the financial services providers yield benefits in the accounts that the players have with the service providers. These benefits are not restricted for use to any one online casino or for that matter they are not restricted for use at online casinos in general. Broadly there are two types of promotions that have gained popularity. One is a cashback type of promotion in which the player receives free cash in his account with the financial services provider based on his throughput in making electronic payments. The other type of promotion is a loyalty points kind of promotion prevalent at online casinos. In this promotion the user of the financial services gets loyalty points based on his usage of the service and these loyalty points can be redeemed to provide benefits. One promotion of each type will be discussed in detail so as to illustrate how they work.
Moneybookers offers the cashback type of promotion. Players have to register for the promotion through the Moneybookers web site. Within 30 days of registration they have to upload at least €1,000 to their Moneybookers account. After that, players can avail a 1% cashback on all deposits they make from their Moneybookers accounts to online casinos that are partnering Moneybookers in this promotion. The cashbacks will be limited to 18 months from registration for the promotion or to €100,000, whichever comes first.
Neteller offers the loyalty points scheme. The loyalty points are known as NET Points. Players can earn 10 NET Points for every $1 they transfer to online casinos or other merchants. Players can earn NET Points in various other ways as well. For example, 10 NET Points are earned for accepting a Net+ transaction; 10,000 NET Points are earned for getting the bank account verified and 5,000 NET Points are earned for achieving VIP status. Neteller holds periodic lucky draws for amounts from $500 to $3,000 and NET Points earned can be used to purchase tickets for the lucky draws. From time to time Neteller holds larger promotions that offer cars, holidays and electronics goods as prizes and NET Points can be used to enter these promotions as well.
Now online casino players have one more dimension in selecting the payment option they want to use to fund online casino accounts. This is the promotions that the financial services provider offers to the players.
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