I’ve noticed that online slots VIP rewards tend to be smaller than those found in land-based casinos.
An online casino typically awards 1 comp point for every $10 wagered. You can exchange 100 comp points for $1 cash.
This works out to an exchange rate of $1,000 wagered for $1 cashback, or a comp rate of 0.1%.
Land-based casinos typically offer a points-for-cash rate of 0.2% or 0.3%. This means you’re getting $2 or $3 cashback for every $1,000 wagered.
Why are land-based slots comps more generous than online slots VIP rewards? Find out as I cover the main reasons below.
Online Slots Offer Higher Payback
The average online slot machine offers 96% payback. This means that you’re earning back $0.96 for every $1 bet.
The average land-based slot machine offers between 88% and 95% payback. This range varies based on the coin denomination, casino, state/country, and gambling jurisdiction.
Land-based casinos comp players more, because they make far more from the average player.
Land Based Slots Comps Don’t Cost Casinos as Much
Many land-based casino comps are only worth the value that you’d pay for them. This includes free drinks, meals, hotel stays, and limousine rides.
It’s definitely fun to receive these perks in land-based casinos. But you also have to consider that they’re not worth the same cash value to the casino.
A land-based gambling venue may offer you a meal worth $50. But it only costs them $20 to prepare and serve it when all costs are considered.
Online slots VIP rewards, on the other hand, usually consist of cashback. This means that $1 in comps equals $1 to an internet casino.
Online Casino VIP Programs Feature Tiers
One more point worth making is that internet casino VIP programs offer different tiers. You can move up these tiers by playing enough slots.
For example, you might start at the Bronze level. But you can advance to the Gold tier with enough betting.
The advantage of moving up the tiers is that you can earn more rewards. And high-level VIPs earn much more than 0.1% on their slots comps rate.
Land-based casinos also have tiers, such as Room, Food & Beverage and Room & Food. But these different levels aren’t as pronounced as what you’ll see with online casino VIP programs.