The top bookies use a customer loyalty program.
– A customer loyalty program helps bookies compete in a thriving industry.
– Points-based customer loyalty programs are common today.
Bookies Use a Customer Loyalty Program
If we are being serious about online sports betting, we must acknowledge that it is hard to win consistently. Every bettor has had those cold spells, and worse, entire bad seasons that tested their resolve as sports bettors. Those betting losing streaks cause us to question our ability to correctly predict games.
Since it is so hard at times, there are occasions when we might benefit from some stimulus. You know, something that will keep us motivated to continue betting on sports. One way to boost your sports bookie business is through the use of a customer loyalty program.
Bookies that use pay per head software can use it and work with their provider to offer all sorts of bonuses and incentives. One of those, of course, is the customer loyalty program.
Loyalty in Online Sports Betting
The continued use of a certain sports betting site may be the definition of loyalty. Customers that repeatedly go back to a sportsbook and place bets are loyal. But, why do they go back?
There could be a number of reasons, but smart bookies use some sort of customer loyalty program to keep them coming back. Paying customers are the lifeline of any business, whether its sports betting or widgets.
Sports bettors love to place bets but, like anyone, they love the feeling of getting something for free. That’s where bonuses and customer loyalty come into play. Bookies can incentivize certain behaviors. This keeps the customer happy and keeps him coming back for more.
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The Customer Loyalty Program
Online sports betting providers use many forms of loyalty programs when awarding prizes. Some sportsbooks will provide a cash back percentage. It’s like the Discover credit card. Get 2% cash back on all your purchases. A customer places $1,000 in bets. The sportsbook credits him $20 to his account.
Another type of customer loyalty program is the use of reward points. Bettors receive a certain number of points for a variety of activities. These would include placing a bet, making a deposit, a winning bet, a losing bet, and more.
In the end, the points accumulated can be cashed in for a variety of different items. Most often, the points are cashed in for free bets. Bettors might also choose reduced juice or even sportsbook swag. Whatever the reward, it makes bettors feel as though they are getting something for nothing.
If you start a great online sportsbook, one way to separate it from the rest is to have a customer loyalty program for high rollers. The program only applies to bettors that place bets of say, $100 per wager. Or a sportsbook might offer a tier-based rewards program that provides more incentives to the high roller as compared to the casual bettor.
Regardless, bettors can seize the opportunities presented by a sportsbook offering a rewards program. Bettors are going to place bets anyway, so why not earn some incentives too? For the bookie, the incentives encourage bettors to wager higher amounts, wager more often, or both.
Usually, the specifics of loyalty bonuses are accessible upon opening a new betting account. Bettors should take a customer loyalty program into account when signing up for an online sportsbook. Rewards can alter a bettor’s financial situation.
How Bonuses & Rewards Programs Work
Most sportsbook bonuses and incentives are pretty easy to understand. The standard deposit bonus comes with a rollover requirement. That means a customer must wager a certain amount before he is able to access any bonus money.
It’s the same with loyalty programs. There will be certain stipulations that a customer must meet to receive the reward. A big factor in rewards programs is the amount that a customer bets. A person that bets $500 a week is going to receive more loyalty rewards than the bettor that wagers $50 a week. That only makes sense.
In a points-based loyalty system, bettors than wager more are going to accrue more points. That means they will receive more in rewards.
Points Based Customer Loyalty Program
The majority of sportsbook loyalty programs use a points-based system. It’s the same one your local grocery store uses. The difference is that most online sportsbooks and gaming establishments also utilize a tier-based system.
Again, bettors earn points for any number of activities related to their betting and/or betting account. Each tier in the system requires a certain number of points. Bettors move up tiers and gain access to different rewards at each tier. Sportsbook software has evolved to help bookies create these types of reward systems.
The entry level tier offers some unique prizes to bettors. Once the bettor has reached the threshold, he gains access to those rewards. The next tier has even greater rewards but requires more points. Bettors must continue betting and performing other activities to earn points.
Every level is designed to offer unique prizes to clients who have earned enough points. One level might, for instance, give a bigger percentage for gambling losses than the tiers below it. Another might offer monetary rewards like trips, clothes, or pretty much anything else. It’s up to the bookie to determine the various prizes at the different levels.
Whatever is chosen, bookies can use a customer loyalty program to keep the bettors it has and to earn new ones in the marketplace. With so much competition in the industry today, every sportsbook is now offering some sort of loyalty bonus.