Crypto casinos use loyalty programs to reward players for continued activity, rather than just for signing up. There are different kinds of programs, and all of them are suited to different kinds of players, while having both benefits and downsides. The most common of these are: rakeback, cashback, VIP levels, loyalty points, and competitive leaderboards.
All of the programs provide some sort of benefit to the players, but before choosing which one to use, players should carefully consider how they use the casinos.
What Is a Crypto Casino Loyalty Program?
A crypto casino loyalty program is a rewards system that gives players benefits based on their activity. No KYC casinos don’t require players to verify their identity, but they do keep track of players’ activity and provide benefits for those who are regular customers.
Casinos have varying systems based on their policies. Some take into account the total wagering volume as the main qualification factor, while others take into account deposits or net losses and winnings. As players accumulate more activity, they unlock new tiers of benefits.
In a typical system, a player places wagers, and the casino keeps track of their contribution towards the loyalty program. Once they reach a milestone, a reward is awarded regardless of the player’s wins or losses.
Rakeback: Getting a Portion of Your Betting Activity Back
Rakeback is the most common loyalty system. It gives players a percentage of the casino’s theoretical house edge generated by their eligible wagers back. Unlike cashback, it’s not connected to betting activity, but rather to whether the player finishes a session with an overall loss.
It’s important for players to understand the calculation since the advertised percentage can be misleading. If a player makes $10.000 worth of wagers, they won’t get $500 if the rakeback applies. The percentage may instead apply to the theoretical house edge.
Players with a VIP status can also increase the rakeback. Some casinos credit it automatically, while others require players to claim their rewards. Certain products come with wagering requirements, while others allow players to make a withdrawal right away.
Cashback: A Reward Based on Losses
Cashback doesn’t reward every qualifying bet. Instead, it uses a player’s net losses over a defined period as its basis. The period ranges from days to months depending on the casino.
For example, if a player wagers $ 3,000 and loses $300 and there’s a cashback of 10 percent, the player will get $30 back. This means cashbacks are most profitable when the player loses. However, this doesn’t mean that cashback is cash you can withdraw and use right away. In many cases, it comes in the form of bonuses that have wagering requirements, maximum payouts, qualifying games, or other restrictions.
VIP Levels: How Players Move Up the Loyalty Ladder
VIP levels add a tier system to the loyalty program. Players normally progress through levels as they accumulate qualifying wagering or loyalty points. Casinos have different names for these tiers, but they are commonly known as Bronze, Silver, Gold, Platinum, and Diamond.
The most common benefits of VIP levels include:
- Higher rakeback rates
- More cashback offers
- Level-up bonuses
- Reload promotions
- Exclusive tournaments
- Dedicated VIP managers
- Higher limits
The biggest mistakes players can make are treating VIP status as a target in itself. If reaching the level requires the player to wager more, the rewards may not be worth the amount needed to achieve it. The program should reward normal play over time.
Leaderboards: Turning Gambling Into a Competition
Leaderboards add a competitive element to loyalty programs. The players don’t accumulate points. Instead, they are competing with others for position on a ranking table.
The qualification rules vary from one casino to another. Some do it based on wagering volume, wins, points, or activity during a specific promotion. Prizes can also differ based on the casino’s policy. Some offer crypto payments, bonus funds, free spins, and combinations of all of those prizes, as well.
What to Check Before Joining a Loyalty Program
There are a few main features that players should check before deciding to use a loyalty program. These are public, and the casinos are obligated to be transparent about them. Players should know if the rewards have an expiration date, if there are minimum wagering requirements, a maximum cashback or rakeback amount, and if there are withdrawal restrictions.
Conclusion
Casinos offer a variety of different loyalty programs to reward their players for coming back to the games and services they provide. These come in different forms, and they have strings attached. Players should be aware of those when choosing which systems to apply for and use.
