About Loyalty Programs and Offers
If you indulge in online sports betting pretty frequently, then it’s a must that you make the extra value inherent in rewards and loyalty programs count for you. You may already be aware of signup bonuses offered by online bookmakers, as they’re pretty well-advertised by them. However, what you may not be aware of is the different ways in which these websites take good care of their regular customers too.
Although signup bonuses are excellent when you’re joining a new online sports betting portal, they’re essentially only one time in nature and can’t be used on an ongoing basis. On the other hand, loyalty programs are all usually ongoing. They’re mostly targeted towards high rollers and VIPs that wager money frequently and play very high stakes. But even casual sports bettors can benefit from these programs.
Let’s learn how these loyalty programs work and the way in which different sports betting websites reward their regular clients for their betting activity. Please keep in mind that not every betting portal may use the term loyalty program to define such benefits. They may use other terms like rewards program, VIP scheme etc. too.
How these loyalty programs work
How these sports betting loyalty programs work is pretty straightforward – they intend to reward clients based on the extent of their betting activity (or their losses). Simply put, the more money you bet in a certain period of time, the more likely you will receive such rewards. While signup bonuses focus on new website signups, loyalty programs are all about motivating you to continue betting at the website.
The workings of these loyalty programs may also vary from website to website, incorporating different methods. These methods include free of cost bets, cashback rewards, additional bonuses and more. Regardless of the method used by the website, the core principle remains the same, as the main idea is to keep clients happy by rewarding them for their online betting activity. It’s just a way for a sports betting website to say thank you to its clients.
Commonly known loyalty schemes
As also mentioned above, the loyalty programs run by top sports betting websites may differ from each other. Nevertheless, all such portals do something extra or different to differentiate themselves from the rest. But, in most cases, such loyalty programs can be put into a certain type of category. Let’s now go over some of the most commonly known loyalty schemes.
First and foremost is the cashback reward model, one of the most commonly used and straightforward means of rewarding regular customers. Simply put, the clients are paid back a certain percentage of their losses at the end of the week or month. The exact percentage offered as well as any betting requirement to qualify for such cash back may again vary from portal to portal.
Equally straightforward is the loyalty program model wherein cash rewards are handed out based on the amount bet by punters in a specific period of time, instead of basing it on the losses incurred by them. Such loyalty model may also incorporate the odds of their bets, earning them more rewards for betting higher stakes. For instance, you may earn one point for every dollar spent, multiplied by odds of the corresponding bets. All the points collected are then converted into bonus amount at the end of every week/month.
Many sports betting websites also use free bets for rewarding their regular clients, instead of or in addition to cash back bonuses. The value of such free bets and their numbers depend on the extent of betting activity of the clients and their losses. From the client’s perspective, such free bets don’t hold as much value as the cashback bonus since you’re required to bet with that money anyways, and can’t cash it out. Having said that, there are some websites which also provide straight cash out as a loyalty bonus, implying that you can withdraw the bonus amount immediately.
Although the sports betting website you have an account with may use many different loyalty schemes to keep you betting with them, the schemes mentioned above are used by a large majority of them.
Special promos and offers
Apart from the VIP schemes and loyalty programs run by these portals, they also use other innovative ways to keep their regular customers happy. A good number of them run special promos and offers from time to time. These are pretty standard in nature, for instance, better odds on certain sports events or refunds on specific bet types. Some of them can be very creative too! You should always keep an eye out for such promos/offers as they can provide you that extra bit of value to help you maximise your returns.
It isn’t uncommon to see huge cash prizes or things like privileged services at top sports events as a part of these promotion offers. Talking about the hospitality aspect in specific, if you’re a high roller at a certain sports betting portal and bet very frequently, you can always ask the site about invites to the popular events. They may readily arrange something for you and offer it on a complimentary basis all through the season.
In case you’re already betting online with some portal, and your bets are also of fairly good size, you can always think of making a switch if you don’t get the extra value you deserve from the portal. On the other hand, even if you’re new to the online betting world and are planning to switch to a website that’ll treat you better, it’s always good to keep your options open.