Since Cloudbet started out in 2013, we’ve offered a fixed 5 BTC welcome bonus. With the value of BTC increasing massively from there, the minimum deposit to claim the bonus climbed as well, resulting in only a small number of players actually taking up the offer by depositing enough to benefit.
With the upcoming rollout of Cloudbet sports loyalty, our goal is to offer our sports players the opportunity to opt into a much more inclusive rewards system, where all players benefit automatically. We want to focus on offering our players flexible loyalty rewards throughout their time with Cloudbet.
Read on to discover how you can make the most of the Cloudbet sports loyalty rewards:
At a glance:
- The current welcome bonus is a fixed one-off amount. We want to focus on rewarding our players throughout their time with Cloudbet not just when joining.
- Now everyone benefits automatically from continuous lifetime bonuses, rewarding you constantly based on your level of play - No matter if wagers win or lose.
- The bonus system is inclusive, rewarding new and longstanding players alike: The more you play and the higher your loyalty tier, the more rewards you earn.
- Flexibility: rewards can be accumulated over time, or spent on a regular schedule. Loyalty rewards can also be claimed as casino bonuses and spend in the Cloudbet Marketplace.
- Sports loyalty ensures that rewards reach our loyal customers instead of benefiting bonus hunters who are constantly on the lookout for the next best thing.
Why you benefit more with Cloudbet Loyalty Rewards
Since the early days, when Cloudbet first launched back in 2013, we introduced an industry first 5 BTC matched welcome bonus. At the time BTC was worth USD 71, and whilst the size of the Welcome Bonus hasn’t changed, the value of BTC has only skyrocketed.
We understand that most new players want to test the full extent of our offer first, before moving their play to Cloudbet. The fact that this results in the majority of players not taking up our welcome offer, led to the conclusion that we have to change the basics so everyone can benefit.
Cloudbet sports loyalty rewards all players
Besides the understanding that the majority of new users don’t benefit from such a large welcome deposit bonus, most new users are even wary of taking advantage of such a large one-off welcome reward on a platform they may not have used before. (Despite Cloudbet’s long-established pedigree as the world's leading cryptocurrency sportsbook and casino platform). In the last 12 months, the majority of our new customers did not benefit from our welcome bonus. As they were testing the waters before becoming established repeat players, their first deposits were too small to benefit from the welcome offer.
Shift towards loyalty bonuses
Having recently launched the Cloudbet loyalty program, we have undertaken a thorough analysis of how our loyal sports players can benefit the most through incentives and bonuses.
The beauty around the new loyalty program is that all players benefit no matter how much you deposit. It is inclusive for all recreational punters as well, from sub $1 stakes through to the biggest VIPs. The program is designed to reward players, whether they win or lose.
The new rewards system allows us to focus not only on new players who move their play to Cloudbet, but we can also afford to be more generous with our established loyal players on an ongoing basis, over the long term. The longer you stay and play with us, the higher you will progress in tier and the better rewards you will receive.
In addition, the loyalty bonuses are awarded with flexibility in mind: A player can choose to claim sports bonuses on a regular schedule, or indeed build up their bonus pot as they wish, for example to benefit from tiering up and enjoying a reduced rollover requirement when you claim your bonus. Likewise rewards are also claimable as casino bonuses and in the Cloudbet Marketplace, for those who fancy variety in what they play.
Why the Cloudbet Loyalty Program offers the best Bitcoin Sports Bonus for new players
In the following case study, we are looking at two different sports players that requested early access to our sports Loyalty program in September 2021. Comparing their loyalty earnings with their eligible welcome bonuses provides a better understanding of how they benefited from the new Cloudbet sports loyalty rewards system:
This player had a first deposit equivalent to US$100 in BTC and followed up with another larger deposit on October 1st. Under the terms of the Welcome Bonus, the player would’ve received US$100 in total (see blue line on the graph below). However, under the terms of the Loyalty program, the player would have out-earned the Welcome Bonus after only two days of play and will continue to receive lifetime bonuses no matter if wagers win or lose.
This player had a first deposit equivalent to US$15 and didn’t qualify for any Welcome Bonus. Under the Loyalty Program, with continuous play in October and November he received the equivalent of over $20 in rewards in one month. His average wager size is around $40 USD equivalent.
Upgrades for long time, loyal Cloudbet customers
Launching Cloudbet sports loyalty gives us the opportunity to especially reward long standing Cloudbet accounts. We will ensure that players who have been with us over the years or even from the very beginning will receive more automatic loyalty upgrades.
We are currently evaluating our database to award starting tier upgrades to loyal long term customers, meaning these selected accounts will never depreciate below certain tiers: Players active in Q4, 2021 that created their accounts in 2015 and 2016 will always enjoy Gold (Tier 3) member benefits at a minimum. Founding members from 2014 will enjoy Emerald (Tier 4) benefits and launch members from 2013 will be awarded the Sapphire status (Tier 5).
More automatic loyalty benefits will be coming in the future for long term loyal Cloudbet members, so be on the lookout for your loyalty rewards!
How do Cloudbet Sports Loyalty Rewards stack up against the competition?
Cloudbet Loyalty vs DraftKings Dynasty Rewards
DraftKings is a major publicly traded and leading American fantasy sports and sports betting operator in the fiat space. The DK Dynasty Rewards are rewarding play across casino and sports under a single unified program, just like Cloudbet Loyalty.
The reward currency on DraftKings is “Crowns” that are earned in sports with 1 Crown for every $2 wagered. The redemption rate is 550 Crowns for DK$ 1.
The return is therefore 1/2/550*100 = 0.09%
On DraftKings top loyalty tier “Onyx”, players can get a 40% earnings boost.
The maximum return is therefore 1/2/550*100*1.4 = 0.127%
With Cloudbet Loyalty, our initial Bronze tier has a reward of currently up to 0.12% when you wager on high limit events with standard margins. As we pride ourselves as a low margin crypto operator, we have to protect our downside and adjust rewards down when margins are tight. In comparison, we therefore don’t have a flat reward rate per tier. However, our higher tiers earn multiples of our baseline return of 0.12% and there are opportunities for our players to grab earning percentage boosts.
On the redemption side, we credit reward cash on wager settlements directly that players can frequently convert to rollover bonuses and other perks on the Cloudbet platform. This includes sports, casino and the marketplace. Rollover requirements start at 4x and are dropped to 1x already from our Sapphire tier onwards.
We opted for transparency with a direct conversion of reward cash and given the comparison to DraftKings, we hope you find the Cloudbet Sports Loyalty Rewards to be fair and prosperous.