VIP customers and their role in casino profitability 161b2v
Both land-based and online casinos rely on VIP customers for their profitability. Without them, casinos would not have enough money to invest in new games, entertainment or new entertainment facilities. 3i1368
VIP customers 5b6d71
Brief definition of a VIP player 312j66
The VIP casino player is a person who frequently frequents the gaming venue (or the licensed gaming organizer’s website) and spends substantial amounts of money. Loyalty programs are the main tools through which a casino can create a database of VIP customers. These programs often involve the idea of more frequent play, longer playing sessions and higher gambling expenses.
Steps to becoming a VIP 4c4f73
In short, the steps to becoming a VIP player are:
- You the loyalty program. You basically become a member.
- Earn points: Players earn loyalty points based on the bets they make and their play. The more you play, the more points you accumulate. At some casinos you become a VIP faster, at others at a slower pace.
- Customer Loyalty Levels: Loyalty programs often have tier systems. As you accumulate points, you advance through these levels, earning various additional benefits and perks as you reach each new level.
- Loyalty points redemption: Once players reach certain loyalty levels in VIP programs, they can start redeeming their loyalty points and in return they receive the opportunity to play for free, the opportunity to participate in various special VIP player draws or the opportunity to win certain jackpots, but usually big casino players want a unique, special experience, they want to be treated in a special way and to feel like “very important persons”.
land based casino
What it means to be a VIP in live casinos 6i6da
For many of the VIP players in live casinos, money is no longer a means of loyalty, they have other expectations, namely to be treated special (private jets to pick them up, limousine to scale, presidential suites in the casinos where they are staying, special seating at the best Michellin-starred restaurants in the world, top-class entertainment for a select group of people, and so on). VIPs generally buy themselves personal space and time, and not least status, with this preferential treatment.
online casino
What it means to be a VIP in online casinos 33343u
The process of retaining players in online casinos is very important and a little more cumbersome, especially since operators in this field do not have a physical with the player to impress, everything is done through the Internet.
Technology, on the other hand, helps online casinos to compensate for this shortcoming and to obtain a more accurate profile of the player in question with the help of the information and data they obtain about the players.
Online casino operators have set up real departments dedicated to the VIP segment to take care of this type of players because these customers need to be kept active for as long as possible and satisfied. Positions such as VIP Manager or VIP Host and so on, denote the idea that companies have mobilized themselves well enough to meet even the most impossible requirements of these types of players.
What’s more, operators have gone out of their way to come up with comprehensive offers of benefits and bonuses for VIP players such as betting points, special reload bonuses, access to exclusive tournaments and events. As with land-based casinos, the foundation of these loyalty programs is the system of levels at which you rank as a major player and, of course, status, although here discretion is easier to maintain, with players usually using various online nicknames or avatars.
How important are VIP players in the profitability of a casino? 25dr
Recreational, or casual, gamblers represent the vast majority of players, but they usually spend small amounts of money for this type of entertainment. On the other hand, regular players, with an emphasis on VIPs, are the basis of the profitability of this business because you can rely on them, by their online presence and by the amounts they play and keep them in their seats in front of the gaming machines in the halls or digital devices (desktop or mobile) you know that your business will continue to go on next year.
Market figures say that the share of VIPs in gross gaming revenue (GGR) is somewhere between 65-80%.
A “VIP” is a player who is considered very valuable to a casino or sportsbook because of their high level of involvement, significant bankroll and, in most cases, the substantial revenue they provide to the operator, as they play a lot and, in many cases, lose a lot.
Usually operators offer a “host” to a VIP, i.e. a host with whom they can form a bond, a companion. During the course of the conversation, the hosts will reward the high rollers with all sorts of bonuses, from discounts as a percentage of the amount wagered or other perks such as gadgets or tickets to events. In this ecosystem the top VIPs are known as “whales”, and whales as we know drive the currents.
So VIP players are very important!
Risks for VIP players 623c71
To conclude, we must mention the risks that many VIP gamblers are subject to, because they are the ones who spend the most time in a casino and spend the most money, and therefore they must be the most protected in order not to slip into pathological gambling that irreversibly affects their income and their mind.
It becomes a gambling problem when gamblers start losing money they cannot afford to lose. The ability to identify these gamblers is key to promoting a healthy industry where customers spend within their means and have fun in the long term.
Sources: medium.com, slotegrator.pro, casinoreports.com
Photo source: freepick.com
