Casino Loyalty Rewards ProgramsBy: Adam Baker, Tuesday December 9th 2008
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There are several mechanisms used by online casinos to attract and retain players. The most common is through bonuses. Another method is by holding promotional events that offer huge prizes. But the method most benefiting players is the loyalty rewards program that many online casinos offer. These are transparent mechanisms and more importantly their offer benefits automatically and on a continuous basis. Players are advised to seek out online casinos that have good loyalty programs and patronize them.
In its simplest form the loyalty rewards program can be stated as that the players 1 comp point for every $X wagered and when players accumulate Y comp points they can redeem those for $1 of playing credit. Different online casinos have different values of X and Y. Different online casinos also have different names for "comp points". Ultimately what is important to the player is how much playing credit he gets for a given amount wagered. These playing credits can be used for wagering in the same manner that bonuses are used. Online casinos do impose wagering requirements on the credits given through loyalty programs. Since the online casino software logs the amount wagered by each player, it could be programmed to compute the accumulation and disbursement of comp points and therefore these transactions can be carried out automatically without manual intervention. Therefore the more the player wagers at the online casino he automatically receives more playing credits.
Many online casinos have developed on this simple program. Some allow quicker accumulation of comp points on games like slots as compared to games like blackjack. This is because slots have a higher house edge and online casinos neutralize this disadvantage by allowing faster comp points accumulation. Many online casinos offer additional benefits to those players who wager more. These are over and above the increased comp point accumulated for wagering more. Some online casinos offer more playing credits for the given comp points to players who achieve specified levels of wagering. Hence the benefits get multiplied for high rollers. Many online casinos link the bonus structure to the number of comp points accumulated. Reload bonuses are offered as a given percentage of the deposit subject to a maximum amount. For those who have wagered more and accumulated more points the casinos increase either the percentage of the bonus or the maximum limit. Either way the player is eligible for increased bonus.
In order to ensure that the increased benefits are given in a transparent manner, the online casinos create different VIP levels. They specify the amount of wagering required to reach the different VIP levels and also the benefits provided in different VIP levels. The software is programmed to determine a player's VIP level and provide him with the stated benefits. Hence players can be assured that they will get what is their due.
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