Matched betting requires placing bets at both bookmakers and betting exchanges and the profit is generally made from the free bets we receive from bookmakers for placing these bets with our own money. All of this profit adds up and most of us are happy with our profit totals at the end of each month. However, there could be more profits to claim via an often forgotten hidden treasure – Loyalty Points.
What are Loyalty Points?
Loyalty points are rewards given by online bookmakers and casinos when you place bets with them. They work similar to credit card cash back or Air Miles. They’re the bookmakers’ way of giving something back to loyal customers.
Loyalty points can also be known as ‘comp points’ or branded in line with the name of the bookmaker or casino and their value can vary depending on the loyalty point scheme. Generally, you’ll accumulate points for every £XX wagered. Once you have accumulated a set amount of points, they can be converted into either prizes or often, cash.
Matched bettors generally place numerous bets on a daily basis. The amount wagered often goes unnoticed given that it usually doesn’t matter whether your bets win or lose with the bookmaker as you know how much profit you will make prior to placing your bets. As matched bettors place a large number of bets, they accumulate loyalty points at a fast pace which can be converted into cash.
Both bookmakers and casinos can offer loyalty points and you’ll generally find that it is with your active casino accounts or bookmakers which have a casino section, that you accumulate the most points. Casino offers generally require a lot of wagering, sometimes thousands of pounds and so it is very easy to build up a significant number of points through these offers which can have a large cash value.
Converting Loyalty Points into cash
If you’ve been matched betting for a while now and haven’t checked your loyalty points balance, you could be in for a nice surprise. Not all bookmakers and casinos offer a loyalty points scheme but if you have a list of bookmakers you have accounts with, it is worth setting aside an hour or so to log in and check each of them individually.
Each bookmaker will have a different way of checking your loyalty points balance with some not making it easy to find. The easiest way to check your points tally is to simply google the name of the bookmaker or casino followed by ‘loyalty points’ or ‘comp points’ which should return a page with instructions on how to check your balance.
Below is an example of a loyalty points scheme from William Hill. It shows that you receive 1 ‘comp point’ for every £10 that is wagered. We have accumulated a total of 16,685 points over time and 545 points since we last cashed them in. 80 points can be converted into £1 cash and so 545 points are worth £6.80. This may not seem like a lot but should we never had cashed in our points up until now, we would be able to turn 16,685 points into £208.56! That’s just from one account. How many active accounts do you have?
Looking at William Hill’s Comp Points scheme above, you earn 1 point for every £10 wagered and 80 points are worth £1 cash. Therefore, you need to wager £800 to receive £1 cashback. That doesn’t sound like an +EV offer does it? However, we don’t place bets to receive loyalty points and they are simply an added bonus to our overall profits.
Take a typical deposit bonus which may be something like, deposit £100 and get a £100 bonus with x30 wagering. If you complete the wagering, you will have placed £3,000 worth of bets. By placing those bets, you will have generated 300 loyalty points which can be converted into £3.75 in cash. Again, that doesn’t sound like a lot but it’s money for nothing and complete 100 of those offers over the course of a year and you’ve got yourself £375 cash on top of your matched betting profits. That’s just from one bookmaker!
Earning more points faster through VIP levels
Some online casinos offer a VIP program. These are made available to encourage players to bet more, more often. If you make a high level of deposits and wagers at a casino which has a VIP program then it’s likely that your VIP status will be increased. When it does, you’ll receive rewards which can sometimes be additional bonuses, a dedicated account manager, invitations to events and also a more attractive loyalty scheme. When this is available, you’re able to earn loyalty points at a faster rate. For example, a standard player may earn 1 loyalty point for every £10 wagered but a VIP player may earn 1 point for every £7 wagered, allowing more points to be accumulated for less wagering and resulting in more cash.
Loyalty Points are often forgotten about but can be a welcome addition to your matched betting profits. They aren’t something that you should play to accumulate but you should be aware of them as you could be sitting on hundreds of pounds worth of unclaimed funds.
If you’re a regular matched bettor, especially if you are involved in casino offers, take the time to check your accounts for loyalty points. At Profit Squad, we list a number of profitable casino offers on a daily basis from which members can make a significant profit. Providing the offers you do have a positive expected value, which you can use our advanced casino calculator to check for, you will not only make a long term profit from the offers but also accumulate loyalty points in the background.
If you’re not a member of Profit Squad yet, you can sign up today for 14 days for just £1. You’ll get access to hundreds of bookmaker and casino offers, step-by-step guides on how to profit from them, full matched betting training and support 7 days a week. Sign up to profit Squad today to start making money with matched betting.