If you bet on sports somewhat regularly, then you really should try and take advantage of the extra value you can get from the loyalty programs and rewards that many of the top sports betting sites offer.
You’re probably already aware of the sign up bonuses that you can get from joining a site, because these are usually very well advertised, but what you might not know is that a number of these sites look after their regular customers very well too.
Sign up bonuses are a great incentive to join a new site, but they are only a one-time bonus so they don’t give you any extra value on an on-going basis. Loyalty programs, on the other hand, are all about on-going value.
They are generally geared up towards VIPs and high-rollers that bet frequently and at high stakes, although even the casual bettor can get some benefit from them.
We explain more about how loyalty programs work below. We also look at the different ways in which sports betting sites reward their regular customers for their wagering activity.
You should note that the term loyalty program is not always used: other terms such as VIP scheme or rewards program are also quite common.
The basic concept of loyalty programs is pretty straightforward; they focus on rewarding customers based on how much they have wagered (or possibly lost).
In very simple terms, the more that you wager over a given period, the more you are likely to receive as a reward.
Whereas sign up bonuses are all about encouraging you to join a new site, loyalty programs are essentially about encouraging you to keep using a site.
The way in which loyalty programs work varies between sites and customers can be rewarded by a number of different methods. These include additional bonuses, cash back, or free bets. We take a look at some of the most common methods a little later.
The principle is pretty much always the same though, in that the idea is to keep customers happy by rewarding them for their online betting. It’s effectively a betting site’s way of saying thank you for your business.
As we’ve already said, the exact way in which a betting site rewards its customers will vary from one place to the next. Many of the top sites try and do something a little bit different to set them apart from the competition, but for the most part loyalty schemes can be categorized as a certain type. We will now take a look at some of the most common types.
First up is the cash back model, which is one of the most straightforward methods used to reward customers.
The precise terms, such as the percentage offered and whether there are any wagering requirements on the cash back, will depend on the site.
Almost as straightforward is the model which gives you a cash reward based on how much you have staked in total during a period, rather than how much you have lost. This model may also take into account the odds of your wagers too, giving you more rewards for betting at higher stakes.
You may be awarded something like 1 point for every dollar that you bet, multiplied by the odds of the relevant wager. Your points will then be converted into a bonus at the end of the month.
Free bets are also commonly used to reward regular customers instead of bonuses. The number of free bets awarded, and their value, will depend on how much you have wagered or how much you have lost.
It doesn’t really make a huge amount of difference if you get free bets or a bonus, because you’ll usually have to make a certain amount of bets with the bonus money anyway. With that being said, some sites do offer straight cash as a reward meaning that you can withdraw it right away.
There are sites that reward their customers differently to the ways we have mentioned above, but these types of loyalty schemes are the ones you’ll probably come across most often.
You’ll also find that many sites frequently run a variety of other promotions for their regular customers too.
In addition to loyalty programs and VIP schemes, there are a number of other ways that betting sites try and look after their customers. At most sites you’ll find there are often special offers and promotions running.
These are typically pretty standard offers, such as enhanced odds on selected events or refunds on specific bets, but sometimes you’ll find contests or promotions that are very creative.
It’s not uncommon to see large cash prizes up for grabs, or things like hospitality at top sporting events.
On the subject of hospitality, if you are a high stakes bettor or you bet very frequently, then it’s always worth asking your betting site about the possibility of getting invited to events.
The major betting sites will typically arrange hospitality at a number of sporting events throughout the year and they will usually invite their bigger customers if they know they are interested.
If you already bet online a fair amount but don’t think you are getting the extra value you should, or if you are new to online betting and looking for somewhere you will be looked after particularly well, then you’ll want a site that has more rewards.