Crypto Rewards and Loyalty Programs in Online Casinos

Cryptocurrency casinos are providing their services in a crowded market and with a lot of competitors going for the same pool of players. That’s why so many crypto casinos are providing rewards and loyalty programs. It’s a marketing tool used to reward loyal players and attract new ones. Players can also take advantage of the reward programs and use them to lower the risks.

It’s important for players to have a good understanding of how a loyalty program works and what kind of fine print is involved. Loyalty programs often come with wagering requirements players should be aware of.

What are Loyalty Programs?

Loyalty programs are marketing tools used by casinos based on the premise that a player gets loyalty points for logging into their casino account and playing games. The points can then be exchanged for bonuses, reduced fees or other rewards casinos can offer.

Loyalty programs work the same as bonuses meaning that you can’t just use the awards you got, instead, there are wagering requirements and fine print attached to each of them. Some gambling establishments such as Stake are more generous with their loyalty features and others less so. It’s therefore important for players to educate themselves about these before using them.

What You Need to Know About Loyalty Programs?

Players need to be aware of the perks they are getting from a loyalty program, but also the limits the casino imposes on loyalty points. There are online ss that go in-depth over the casino’s features. Stake.com review also addresses their loyalty program and how to use it.

It’s useful to compare and contrast different casinos and their loyalty programs and awards. Players should pay special attention to the wagering requirements attached to these awards, as sometimes they are too high and not worth using.

Different Types of Loyalty Programs

There are a few common types of loyalty programs, most casinos use. Some casinos have completely unique perks of their own, which is why it’s important to dive into casino reviews before signing up for an account. Loyalty programs that are most widely used include:

Loyalty Points Scheme

Casinos award loyalty points are one of the most common loyalty programs. The casino awards points to players for every bet they make and in some cases for not stopping a betting streak. The more you bet the more points you get.

The points can then be replaced for various perks, bonuses, and special features. In most cases, those perks come in the form of free bets or free spins, or sometimes a simple deposit bonus, based on the amount of points the player has collected.  Free spins sometimes come with wagering requirements, meaning that the player can’t simply withdraw the winnings they got from this bonus. Instead, they need to make bets with funds of their own first.

VIP Schemes

The VIP scheme is an alternative to loyalty points, but it works the same way. It’s a way to reward the players who bet a lot and who are loyal to the casino. Players sign up for VIP status and pay for it as a subscription. Stake casinos use this approach and players get a bunch of perks that come with their VIP status.

The perks include free bets, access to some restricted games, access to tournaments, and lower fees. It’s up to the player to decide if these are worth the subscription payment. For those who play on a regular basis, it mostly is worth it.

Cashback Program

Cashback programs are used by online casinos but also by many other retail sites, as a way to reward loyal customers. The concept is simple – the players get a portion of their bets back based on the amounts they’ve spent at the casino.

For instance, if a casino has a 10 percent cashback program, the player will get $10 for every $100 they spend. Most casinos claim that this is a good way to build loyalty as players keep coming back to spend the funds they got as cashback. The downside of this approach is that it’s not as personalized as VIP programs, and every player gets back the same percentage regardless of their betting habits.

Casino Shops

Casino shops are loyalty programs that started in on-the-ground casinos but are now widely used by online casinos as well. The players get loyalty points for betting and staying loyal to a casino. The points are then spent in casino shops rather than at the tables or slot games.

Online shops that work with casinos provide a variety of different merchandise, usually somehow thematically related to the casino or betting and gambling in general. Many also focus on novelty purchases and small tech gadgets. Players enjoy this program and rewards points spent this way don’t seem as wasted as those you spend in a casino.

Players Club

Players clubs are another bonus that originated with on-the-ground casinos and now it’s used in online and crypto casinos as well. Members of a player’s club had benefits and perks within the casino premises. This included free services and discounts on rooms, restaurants, entertainment, and any other services you could get in a casino.

Online player clubs provide similar services and benefits that players can use online or in on-the-ground establishments the casino has an arrangement. Not many casinos offer this sort of service at this point, and Stake.com, which is a leader in the online gambling industry, still doesn’t, but the idea is gaining ground.

How to Be Eligible for Loyalty Programs

Every casino has its own set of rules when it comes to how to be eligible for loyalty programs. These are presented to the players when they sign up and players should carefully study and compare them so that they can decide if the program is worth it.

Regardless of which casino you’re using, there are a few common requirements to meet:

Apply

In most if not all cases, players need to apply to become a member of a loyalty program. This is usually simple enough to do and for some programs, it’s the same process as applying for a casino account.

Loyalty programs that require subscription will also require players to apply in a separate form and players need to provide a payment method. It can be the same payment method as the ones players use to deposit and withdraw funds.

Be Consistent

Players need to stay consistent to get rewards and bonuses. Loyalty programs are made to provide benefits for players who keep coming back to a casino and keep betting. As long as you continue to do so consistently regardless of the amounts you’re betting on – you’ll be eligible for loyalty benefits.

Play For Real Money

Loyalty programs are only available to players that bet for real money. Casinos such as Stake allow players to bet for tokens as a way to practice and learn how the games work without having to risk any of their own money. These are useful, but loyalty programs are reserved for those who actually take a risk.

This includes betting with cryptocurrencies in the same way and with the same rules as it does for fiat money.

To Sum Up

Casinos offer loyalty programs to reward players who stay with the casino for a long time and who keep adding funds and betting. The loyalty program usually involves perks, bonuses, lower fees, and additional features rewarded to long-term customers.

Most casinos award players with points every time they bet or log in. The points can then be exchanged for bonuses and perks. Awards are only available for players who bet for real money regardless of whether it’s paid in crypto or fiat money.