Comp Points and Loyalty Programs at Internet Casinos
January 9, 2012
There is too much competition in the internet gambling industry so the online casinos try to retain their existing customers by various means. One way is to offer bonuses which could include refer-a-friend bonus or a reload bonus where each deposit will earn a small bonus. Some casinos also offer a bonus for customers using a certain e-banking deposit method or for playing a particular game like slots or blackjack. The second method to keep existing players returning for more is Loyalty Schemes and Comp Points.
The concept of loyalty programs started at land based casinos and the trend has been continued at online casinos as well. The best internet casinos today offer comp points and loyalty programs; in fact, it is quite rare to find an internet casino without such a scheme. Loyalty schemes are meant to encourage players to continue spending money at the casino to increase revenues. Loyal customers who continue playing are promised rewards in the form of comp points. These are also known as frequent player points or loyalty points. So the more often the individual plays at the internet casino in the real money mode, the more points he or she earns.
Each casino has different rules as to how much the player must spend to collect a certain number of loyalty points. For instance, wagering $10 might fetch you 1 comp point at one casino while you might have to wager $50 to get 1 comp point at another casino. Comp points can sometimes be converted into cash, depending on the casino’s rules. How much the points are worth again depends on the casino rules – at some casinos 100 points may be equivalent to $1 while at others you might need 1000 points to convert into a dollar.
Loyalty programs can be quite lucrative for regular casino players, especially if they play for a few hours every day. Most online casinos base their loyalty program on the comp points earned by the players. Different levels or tiers make up the Loyalty Program. The higher the number of points earned, higher the player climbs the ranks. Each of the levels attracts different types of rewards or perks. These perks can range from special offers, higher table limits to getting an exclusive accounts manager and much more depending on the level the player has reached.
Online casinos seek to reward their customers’ loyalty through Loyalty Schemes or VIP Schemes as they are sometimes called. Online casinos that value their customers’ patronage usually offer membership to the Loyalty Scheme as soon as the customer places a real money wager. Customers automatically become members of the scheme once they wager for real money unlike at some casinos where they would need to apply for membership or membership to the VIP Scheme is by invitation only.
Some internet casinos award comp points for playing certain casino games and not for others. Sometimes the requirements for membership to the Loyalty Scheme might seem unrealistic or the conditions might be unattainable. More often than not, the player ends up spending a huge sum of money at the casino but getting very little in return. In such instances, the player must decide whether it is worth spending the time and money to become a member of the casino’s Loyalty Scheme.
No doubt, Loyalty or VIP Programs are attractive to a casino player, but it is recommended to check out the terms and conditions before opting for one. Generally, players become members automatically upon wagering for real money, but some casinos have different rules, so check them out before you commit yourself.