In today’s competitive online casino market, every online casino operator highlights customer loyalty as becoming more important than ever.
For the traditional casinos, cultivating customer loyalty has always been part of their marketing strategies to attract and retain customers. Oftentimes, loyalty programs feature tiered membership levels which players can earn through loyalty points or credit-based rewards allowing players to avail complimentary meals, hotel stays, free play credits, and exclusive access to VIP amenities.
As the casino industry moved to digital platforms, both the game library and loyalty programs became digital as well. Narrowing on loyalty programs, the online casinos are now slowly incorporating web3 loyalty programs.
Below, let us learn more about these web3 loyalty programs and whether they are poised to replace traditional casino points systems to cultivate customer loyalty.
What are Web3 Loyalty Programs?
Web3 loyalty programs refer to programs that cultivate customer loyalty offered by online casinos as a marketing tool that leverages blockchain technology. It is characterized to be a more transparent, secure, and user-centric rewards system. Accordingly, it uses digital tokens to facilitate transactions and grant access to services.
These tokens within Web3 loyalty programs operate in a decentralized environment allowing complete transparency in how points are earned and redeemed. Moreover, the tokens from these loyalty programs are often designed to be used across multiple platforms and services creating a more versatile and appealing rewards program.
Seeing how appealing it is to casino gamers, Betway casino and other similar gaming platforms are slowly transitioning into these types of loyalty programs and offer it to their customers. Accordingly, they are incorporating it either as a welcome bonus or a prize in their Daily Prize Drop programs built into some of the casino games in their library.
Will the Future of Online Casinos Be Digital Tokens?
Despite the unique benefits casino gamers can get when online casinos offer web3 loyalty programs, it also presents unique challenges in terms of technology and regulation.
While there is willingness by online casinos to adopt this type of loyalty program to further entice a more diverse audience, many are still hesitating to actually adopt it as it raises questions about compliance and legal frameworks. Considering how highly regulated the industry is, there are still online casinos that hesitate to fully adopt Web3 loyalty programs in fear of being in trouble with the law.
Aside from regulatory concerns, not all online casino gamers are adept with blockchain technology or digital currencies. Considering that there remains a need to further educate casino gamers on how to use and benefit from it, many online casinos retain their traditional loyalty programs to cater to loyal customers who are not technologically advanced.
Although there are a lot of potential benefits when online casinos adopt Web3 loyalty programs, the path to adoption is still fraught with challenges. These challenges are thoughtfully considered by online casinos to ensure that their implementations are both efficient and user-friendly.
Whether the replacement of traditional casino points by digital tokens succeed or falter ultimately depends on the collaborative efforts of technology developers, online casino platforms, and the regulators.
