Loyalty Points Explained
In general, players collect loyalty points by placing bets. For example, every €10 bet may earn 1 loyalty point. The casino may give players other ways to collect loyalty points, such as by claiming certain bonus offers or completing various in-game challenges.
At many casinos, these loyalty points can then be converted back into cash. Very often, the exchange rate will be something like 100 loyalty points equals €1. However, the conversion rate is often linked to a player’s VIP level and the higher the VIP level the better the conversion rate.
In fact, within a VIP scheme, loyalty points can often lead to many more types of rewards, such as cashback, free spins, deposit bonuses, and even things such as weekend trips or invitations to concerts. This aspect of loyalty points is explored in more detail below.
Loyalty Points Terms and Conditions Explained
One of the great things about converting loyalty points into cash is that at many online casinos, the resultant money does not have any wagering conditions. It is yours to use as you see fit. This means that you can use it to keep playing at the casino or you can withdraw it. While it is unlikely that you will amass a huge amount of money through loyalty points, whatever you do receive is yours.
However, this will not be the case at all online casinos. At some casinos, the money from loyalty points may be credited as bonus money to your account. This means that it is likely to come with some wagering requirements. However, they will probably be much smaller than for regular bonuses. For instance, you may find that they have wagering requirements of 5x, which simply means that you have to bet that amount of money five times over before you can withdraw it. As the money from loyalty points is likely to be quite small, this should not be an issue.
One thing that you should be aware of is that at many casinos, loyalty points will expire if not claimed within a certain timeframe. For instance, you may have to redeem them within three months or the points will be removed from your account balance.
There really are very few terms and conditions attached to loyalty points. The exception to this will be casinos where the points come with wagering requirements. In those cases, you may find that the bonus money can only be used to play certain games, that there might be a limit on the size of bet that you can place, and that winnings may be capped at a certain amount. Furthermore, game contributions to wagering requirements are likely to vary. That is why you should always take the time to read the terms and conditions. If you don’t, you may find that you forfeit your loyalty points and winnings.
Loyalty Points and Loyalty Schemes
Many casinos run tiered loyalty or VIP schemes. Often they will have levels such as Bronze, Silver, Gold, Platinum, VIP and Elite VIP. Players are able to climb through these levels by amassing enough loyalty points. For example, you may need 10 points to reach the Bronze level, 60 for silver, 350 for gold, and so on.
Usually in these schemes, each level brings with it many more rewards. For instance, at each new level players may be offered free spins and a deposit bonus. Players may also qualify for special birthday bonuses or weekly bonuses at new levels. There may be increasing weekly cashback offers, faster cash out times, higher deposit limits, and so on. At the highest levels, it is common to find personalised offers and even personal account managers. Furthermore, the loyalty point conversion rate also improves at higher levels so instead of needing 100 points to claim €1, players may just need 80 points, or even less.
It is important to remember that all of these loyalty point related rewards will come with their own terms and conditions, and you should always take the time to review them.
How to Spot a Good Loyalty Point Scheme
There is not much difference in the way that loyalty point schemes operate from one casino to another. While it is worth checking that money that comes from converting loyalty points is given as cash and not bonus money, it is not necessarily a reason to reject a loyalty point scheme.
Of more interest will be any associated rewards. When you look at the loyalty rewards see if the points can earn you weekly bonuses such as free spins and cashback. You should then look at these individual rewards terms and conditions. If you think that they are fair and that you will enjoy regular good value bonuses, then it is likely a very good loyalty rewards scheme.
How to Claim Loyalty Points
At most casinos, you will begin earning loyalty points automatically as soon as you have signed up. However, at some you will have to explicitly sign up for the loyalty scheme after creating your account. You will most likely find details of this on the casino’s promotions page. You can then start collecting points just by playing games. It is also worth looking out for promotions linked to loyalty points, for example, many casinos run promotions offering double the points for playing particular games.
When you have collected enough loyalty points to convert them to cash, you should head to the casino cashier. There you will find your loyalty points balance and can enter how many you wish to convert. The money will then be added to your account balance.
Loyalty points are often a great reason to keep returning to the same casino. If you play regularly, then you can be sure that even losing bets are going towards earning you some kind of reward. While a loyalty point scheme is not enough in itself to make a casino standout, it can certainly make a big difference to those who will be playing on a daily basis.