Let’s face it, betting on sports can be a tough job! We’ve all gone through cold streaks and even entire rough seasons that have tested our resolve as sports bettors and made us question our ability to predict a game.
It’s time like those that we could all use a little pick-me-up — something to keep us working on our predictions and enjoying this great hobby of sports betting.
Whether you’re struggling with your picks or making a killing, one of the significant benefits of betting with an online sportsbook is the loyalty rewards.
These are bonuses provided to customers that consistently place their wagers with the same betting site. The more you bet, the bigger the return!
There are a few ways that online sports betting websites will approach giving out loyalty rewards. Some assign a point value to your losses or the total amount of money you wager (usually per week or month), while others offer a percentage of cash back.
Other operations utilize a tier-based system to prioritize their high rollers; each betting site has their own system and way of showing their appreciation.
Let’s be honest, the reason these online betting sites offer loyalty rewards is that they want you to keep on betting.
But whatever the intention is, there are valuable rewards available out there, and as long as you’re going to be wagering on sports anyway, you might as well get the most bang for your buck!
So, make sure to pay close attention to what loyalty bonuses are available when you open an account, because it can make a significant difference in your bankroll.
How Loyalty Programs Work
The main details regarding how online sports websites utilize loyalty bonuses to reward their best customers are pretty straightforward.
The more a customer places bets with the sportsbook, the more eligible they are for prizes, or the more they are rewarded in return.
The best benefits go to the patrons that bet the most often and/or make the most massive bets.
Websites will approach how they incentivize loyalty differently. One fundamental system that you will see on many sites are prizes based on points.
Each site has their own method of calculating points, but they are typically based on the number of bets made, the amount of money bet, and the type of wagers being made.
Once the points are accumulated, the various betting sites differ in what they are used for as well. A majority of gambling operations will have a tier-based system in which each tier requires an arbitrary amount of points to be earned in order to reach them.
Each level will have its own rewards for the customers with enough points. One level may offer a higher percentage of places on losses than the tiers beneath it, or others will qualify their members for material prizes like vacations, clothes, or really anything.
You will notice that some operations avoid the tier system altogether and utilize the points in different ways. Lots of websites will let you use the points like currency to exchange for a number of free bets, merchandise, cash or gift cards, and even vacations!
The exceptional prizes are most commonly reserved for a gambling site’s highest rollers which are most important to the overall health of the company.
Types of Loyalty Rewards Programs
The majority of gambling sites that you will come across will have some form of a points system. What actions earn a point can deviate significantly across sites, however.
Points can be obtained from any number of measures including frequency of play, amount of money wagered, amount of losses, and the average amount wagered per bet. Often you will find that different types of bets are worth different amounts of points, and it’s common for bets with higher odds to be worth more.
Many sports betting websites organize their various rewards programs by tier. The more frequently a customer bets, and the more money that they gamble, the higher the level for which they’ll qualify.
The minimum requirements for a tier can be based on points, or the amount of money bet weekly or monthly.
Higher levels will be privy to better prizes. If cashback bonuses are available, the more top tiers will usually get the larger percentages back on losses.
Sites will also give merchandise, free meals, gift cards, trips, or a wide variety of things, depending on how much they value a given tier of gamblers.
Some loyalty rewards programs that you will find choose to gift their consumers bonuses based on their activity. There may be a points exchange program in which a customer may trade their points for whatever merchandise or reward is available.
You will also see websites enter their most loyal customers in raffles or tournaments in which they can receive prizes ranging from shirts to vacation packages to cars.
One very common loyalty reward that you will encounter is the cash back bonus. Money back on all losses is a reward that you can find most commonly in the tier-based rewards programs.
There are also instances that cash back is only offered for set amounts of time. As always, the worth of this reward is entirely dependent on how much you bet.
Occasionally acquiring a set amount of points will earn a sports bettor prizes such as enhanced odds. These in-game rewards allow the player to move the odds for a contest in a favorable direction for a single bet, for example.
Sometimes sites will let you drastically change a line, shifting something like a two-to-one odds wager all the way to twenty-five-to-one. When sites allow this, there is always a low maximum bet limit.
The most common loyalty bonus that you will find online comes in the form of free bets.
These bets may be rewarded at random, when a gambler reaches a certain tier, for holidays, or account anniversaries, but most commonly they are given out when bettors hit previously determined amounts of total money lost.
How Loyalty Rewards Differ from Other Bonuses
Sports betting loyalty rewards are different from other types of bonuses that sites use to entice you in that they are strictly based on your betting activity.
The only way to reach the various rewards is to gamble the right amount of money frequently enough to satisfy the program requirements. Bonuses for things like signing up and depositing money are given for merely performing a single action; they aren’t tied to your gambling.
However, loyalty rewards are also typically much better than simple sign-up bonuses. You have already proven your value and loyalty to the site when these prizes are awarded, so it’s worth more to them to keep you happy.
While the up-front bonuses serve the purpose of getting you in the door, loyalty rewards programs are meant to keep you coming back regularly while incentivizing placing your bets exclusively on one website.
The bonuses provided by loyalty rewards programs also tend to carry fewer restrictions and stipulations as other types.
Almost all free money that you receive in deposit bonuses will have rollovers and requirements that must be met before ever withdrawing any of the money. This is less likely to be the case with rewards that you have actually earned.
Once you have found an online sports betting site that you prefer, it may be your best bet to place the majority of your wagers with them exclusively, because betting websites will award various bonuses and prizes to their most consistent and highest rolling clientele.
Most sites utilize a system of points and tiers that dictate what prizes or rewards a customer is eligible for or automatically receive.
How the loyalty rewards program is run is dependent upon each individual betting site. Choosing a sportsbook with a plan that best fits your gambling habits can be extremely worthwhile in time.
You will want to ensure that you are accumulating the most points possible for the types of betting that you enjoy.
For the highest of high rollers, the loyalty programs become even sweeter. These customers are extraordinarily valuable to any gambling operation, and as such must be kept happy. You will frequently see gifts such as trips, large amounts of cash back, televisions, or even vehicles provided for these customers.
At this level, the bonuses will be granted simply on the amount of money that you bet, not necessarily how much you’ve won or lost.
Whichever level of sports gambler that you are, it’s always nice to be appreciated. If you are like us and are always going to be betting on sports regardless, you might as well get the most out of it.
Maybe one of those free bets or some of that cash back money will fund the biggest win of your life; you never know!