Wager: what is this and what's the point? Let’s make it loud and simple
Success of gambling business depends on the ability of its owners to attract and to retain customers. Online-casinos and sports-betting firms create the flexible systems of free deposits, bonuses and other incentives for the gamblers in order to be commercially viable. Each gambling platform has own wager conditions. What is this and how to deal with it? Read below.
Word for word translation of “wager” from English means “bet”. In gaming industry this term means the financial resources belonging to casino, slot machines or sports-betting firms, and accrued to the gambler.
The abovementioned amount may be transferred to the gambler’s deposit if certain conditions are met. Usually it is required to use the accrued bet certain number of times – with regard to the multiplier. Contextually the phrase “wager with odd, for example, 35” means that when the visitor of online-casino receives 100 coins as a gift for registration and makes bets to the amount of 3500 coins, he/she will be able to convert money into cash.
Wager – special aspects and kinds
Classification of wager means is based on the possibility of turning gift coins into real money:
- amounts being subject to wagering and withdrawal of money through banks;
- free “coins” used only for the game.
System of wagers is a marketing ploy enabling to attract maximum number of new customers. Certainly, casino wins back the loans granted on special terms easily. The platforms resort to various tricks in order to retain and to increase the bonuses:
- Bonus money shall be debited in the last turn – real monetary units are used while making bets. You may use the wager points only after loss of certain amount of money. This is particular additional technique of customer retention after investments loss.
- Bonus burnout while complete purse cashing out – if the customer decides to leave the gambling platform, the program informs of the wager loss. The gambler shall not cancel the registration in order to avoid loss of some part of balance.
- Use of free spins instead of wagers. Free spins of draw machines are the methods of heightening the customer’s interest without involvement of tangible assets. First wins are not high usually due to the fact that some time shall pass until the visitor learns the card formula, or new “one arm bandit”, or specific nature of bets in the bookmaker’s facility. Free spins help to study the gambling process perfectly and give an incentive to invest real money in game.
The wager is presented in different ways in various systems. Online-casinos and slot machines fix certain sizes of bets for turnover, or certain slot machine with low dispersion, or certain time limit shall be established upon expiration of which it is possible to cash out the means given by the platform as a gift. When it comes to the sports-betting firms, the multiplying co-efficient shall be used – the more events are covered with the bets, the more is the win due to co-efficient increase.
Bonuses in «Inbet»
Own system of bonuses is developed in each casino in order to stir up the customer's interest. It is necessary to find the balance in the wager odd so that this system would work. Low value will result in casino work for a loss, and high value will drive away visitors.
Taking into account the operating principle, the bonuses shall be divided into fixed and floating. The first ones shall be accrued in stable value; their amount does not depend on the actions of the gamblers. The second ones depend on the concurrent factors – for example, balance replenishment.
All “goodies” shall be displayed in the personal account; the gambler is also entitled to cancel their accrual in the platform settings. All receipts and withdrawals from the gambler’s e-purse shall be as much transparent as possible in order to avoid charge of fraud in relation to gambling business. Placement of the promotion banner on the homepage is a popular option. Platform White Label offers the great system of bonuses:
- registration bonuses – gives an incentive to the gamblers to create an account, to complete the registration or verification procedure and to start gambling;
- bonuses for initial deposit – shall be accrued while account replenishment; shall be stated in percent of the deposit;
- bonuses for the subsequent deposits – they are not so high as the bonuses for the first account replenishment; they give an incentive to the customers to stay on the platform and to try new options of the entertainments;
- promo codes – the customer receives the gift upon entry of certain word or combination of numbers and letters; promo codes may be multiple-use (they are printed on the banners, leaflets and advertisements) and customized (they may be sent, for example, for friends invitation or share in social media);
- cashback – a consolation prize given in the event of loss: percent of the amount spent for bets shall be returned to the balance; it encourages the gamblers not to leave the platform even if he/she is out of luck;
- final bonus – it shall be activated when the balance is equal to zero. It is reasonable to bind the amount of the deposit to the total amount of the investments. This will encourage the customers to gamble at high bets.
Some platforms develop the customized bonuses formula. The active users are invited into VIP-societies, additional tournaments; free spins and points for their proactivity are accrued to them. It is topical marketing ploy, and this is the method of attention drawing in the event that the subscriber has not been making bets for a long time.
The marketing channels and tools shall be combined in order to make gambling business efficient. The averaged wager and the original bonuses enable to attract as much new persons as possible without expenses, and therefore to increase profit.