Bet and Stay. Retention Strategies for Your Betting Site.
The global sports betting market is developing rapidly, becoming an increasingly competitive field for bookmakers. This industry has been mostly characterized by the “multi-brand” buying behaviour until recently, that is to say the number of customers who tend to be exclusively loyal to the particular website was rather limited.
However, with the emergence and spread of loyalty schemes in this market such behavior pattern started to modify. The practice shows that implementation of loyalty tools have a great influence on the customers' choice of particular bookmaker. Sports bettors engagement is growing thank to the increasing focus on the building a loyal bond between the fans and the brands.?And while stimulating the players' activity on the platform, the bonuses add additional value to bookmakers.
This is the reason why nowadays more and more Sports Betting Industry players are paying attention and adopting the benefits of Loyalty Programs and VIP Schemes in this market sector. In other words, loyalty points and VIP sections that are pretty common within the online casino industry are rapidly emerging in the sports play field where they were rare until fairy recently.
Varieties of Loyalty Rewards
There are several types of reward systems that gambling sites offer in order to encourage loyalty of their users. Let’s consider some of them.
Points
The most common system offered by gambling sites. In general, points depend on the quantity of bets and losses, the frequency of play or the average amount wagered on each particular bet. Usually the different types of bets value different numbers of points.
Cashback
A quite widespread system of rewards based on the volume of losses on bets. The main idea is that cash backs always depend on how much a user bets.
Enhanced Odds
These in-game rewards allow users to radically change a line and move the odds for a contest in a preferred direction.
Free Bets
This loyalty reward bonus may be given when a user achieves a specific tier or as a reward for anniversaries and some holidays.
Tiers
A very efficient reward system where the principles of points and cash backs are used. The players’ tiers normally depend on parameters such as time spent on the site, the quantity and value of bets, etc. Loyalty Programs’ principle is to propose rewards accordingly to users’ tiers. The programs often include additional bonuses such as gifts, vacation packages, events, e-vouchers, etc.
What are main benefits users get when join a Loyalty Program of a betting platform:
The strength of brand loyalty begins with how your product makes people feel.
· Constantly increasing opportunities.
As long as a better’s tier is increasing, the quantity and value of bonuses he receives are expanding. It means that a player gets a much bigger cash-back or more points for the same action he might have done a year before;
· VIP packages.
Loyalty Programs give a user an access to limited packages that include rewards unavailable for betters that are not participators of the VIP program;
· Better conditions.
While regular bonuses often have quite strict constraints such as accessibility time limits or restricting withdrawal conditions, Loyalty Program participants tend to enjoy the absence of restrictions.
As we can see,
For betters Loyalty Programs and VIP Schemes represent a possibility to get the most out of their betting experience and take it to a new level enjoying benefits that are inaccessible for newcomers and common dwellers.
Therefore, the platforms that offer lucrative perks and moves become more attractive for players and, therefore – more profitable. The concept of rewarding loyal customers in the sports betting industry has started to change the betters’ the attitude. An impact is reflected in the increasing tendency of users to choose one preferable platform where they have the most attractive perks and place most of their wagers on it.
Overall, while users get the chance to enjoy all the advantages of their preferable platform, the platform receives loyal customers that contribute significantly to their development and revenue.