How to Use Sportsbook Rewards Programs, Responsibly

7 min read
Author
Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief
Fact checked by:
Paruyr Shahbazyan
Founder
Last Updated: May 27, 2024, 3:19 PM

All About Rewards Programs

Rewards programs are a staple of online sportsbooks, designed to incentivize and reward customer loyalty through a variety of perks and benefits. These programs can significantly enhance the betting experience when used wisely, offering everything from free bets and cashback to exclusive event invitations and personalized offers. However, engaging with these programs requires a disciplined approach to ensure they complement a responsible betting strategy. This comprehensive guide will explore the multifaceted world of sportsbook rewards programs, offering insights on how to navigate these waters with prudence.

Pros and Cons of Using Match Bonuses

Pros

  • Added Value: For the bettor, rewards programs can add significant value, offering returns on betting activity that might otherwise go unrewarded.
  • Enhanced Experience: The perks and benefits can enhance the overall betting experience, making it more enjoyable and potentially more profitable.
  • Personalization: Higher tiers of rewards programs often come with personalized offers and services, tailoring the betting experience to individual preferences.

Cons

  • Potential for Overbetting: The lure of rewards can potentially encourage bettors to wager more than they might have otherwise, risking financial strain.
  • Complexity and Restrictions: Some rewards programs can be complex to understand and navigate, with rewards often subject to restrictive terms and conditions.
  • Misaligned Priorities: There's a risk that the pursuit of rewards could overshadow the principles of responsible betting, leading to decisions driven by the desire for points rather than sound betting strategy.

Understanding Rewards Programs

Sportsbook rewards programs are loyalty schemes that operate on the principle of rewarding customers for their betting activity. These programs often use a points-based system where bets translate into points, which can then be redeemed for various rewards. The structure and benefits of these programs can vary widely, with some offering simple cashback schemes and others featuring complex tiers with escalating rewards.

Key Components:

  • Points Accumulation: Bettors earn points based on the amount wagered, frequency of bets, or the type of bets placed.
  • Tier Levels: Many programs feature levels or tiers, with each tier offering better rewards. Progression through tiers is typically based on points accumulated over a certain period.
  • Rewards: Rewards can range from free bets, cashback, and enhanced odds, to merchandise, event tickets, and personalized offers.
  • Terms and Conditions: Participation in rewards programs comes with its own set of terms, including how points are earned, expiration periods, and redemption conditions.

Strategies for Responsible Participation

  1. Set Personal Goals:
    1. Define what you hope to achieve through your participation in a rewards program, whether it's accessing specific types of rewards or simply enhancing your betting experience. Align these goals with your overall betting strategy.
  2. Maintain a Budget:
    1. Your betting activities should always be governed by a pre-set budget, one that reflects your financial situation and prioritizes your well-being. Let this budget, not the allure of rewards, guide your betting decisions.
  3. Understand the Program:
    1. Take the time to thoroughly understand the rewards program, including how points are accumulated, how tiers work, and what rewards are truly valuable to you. This understanding will allow you to navigate the program more effectively.
  4. Assess Value:
    1. Not all rewards offer the same value, and some may require a disproportionate amount of betting to obtain. Regularly assess whether pursuing certain rewards is in line with your responsible betting practices.
  5. Monitor Your Activity:
    1. Keep a close eye on your betting patterns to ensure they remain consistent with your responsible betting guidelines. Beware of any shifts towards chasing points or escalating your betting frequency unnecessarily.

Examples of Sportsbook Rewards Programs

  • BetMGM’s M life Rewards: Offers tier credits for online sports betting, with rewards ranging from personalized offers to priority hotel check-in at MGM resorts.
  • DraftKings’ Dynasty Rewards: Features tiers from Bronze to Onyx, where bettors can earn crowns (points) for bets placed, redeemable for free bets, merchandise, and experiences.
  • FanDuel’s Players Club: Provides points for every dollar wagered, with monthly tiers determining the rate of point accumulation and redemption options.

Final Thoughts

Sportsbook rewards programs, when navigated responsibly, can significantly enhance the betting experience, providing a layer of value and enjoyment beyond the bets themselves. The key to engaging with these programs lies in disciplined participation that aligns with responsible betting practices. By setting clear objectives, maintaining a budget, understanding the intricacies of the program, and regularly assessing the value and impact of participation, bettors can enjoy the benefits of rewards programs without compromising their financial health or enjoyment of the game.

Ultimately, rewards programs should be viewed as a complement to a well-thought-out betting strategy, not the driving force behind betting decisions. By adhering to the principles of responsible betting and making informed choices about participation in rewards programs, bettors can strike a balance between maximizing the benefits of these programs and maintaining control over their betting activities.

Meet Our Authors

Paruyr Shahbazyan began his business career in 2000 as a private entrepreneur. Over thirteen years, he developed a deep understanding for business and leadership, laying a solid foundation for his professional journey.

In 2013, Paruyr stepped into the sports and betting industry as the founder and president of Bookmaker Rating. This online mass media platform, which he led until 2020, focused on providing in-depth analysis and insights in sports betting, earning a reputation for its quality content. 

Continuing his innovative approach in 2022, Paruyr co-founded Azuro, a decentralized betting protocol. This venture showcases his dedication to integrating advanced technology in the evolving landscape of sports betting. Through these diverse experiences, Paruyr has continuously influenced and shaped the betting industry, driving new trends and setting high standards.

 ExperienceYear
Engaged in private entrepreneurship2000-2013
Founder and President at Bookmaker Rating, an online platform focused on sports and betting2013-2020
Co-founder at Azuro, a decentralized betting protocol2022

"Innovation in sportsbetting comes from a deep understanding of both technology and the human element of sports." 

- Paruyr Shahbazyan, Founder, RG

 

Principles and Ethics

Paruyr Shahbazyan's core beliefs lie in the power of informed decision-making and integrity in the betting industry. He understands that the foundation of successful betting is not just about odds and predictions, but also about the trust and reliability of the information provided. Paruyr advocates for a betting environment where transparency and knowledge are paramount, ensuring that bettors are well-equipped with accurate data and insights.

Strategic Vision

Paruyr's vision is to revolutionize the sports betting industry through the integration of technology. He sees the future of betting as a blend of traditional sports knowledge with innovative tech solutions, like decentralized protocols, to enhance user experience and fairness. His aim is to create platforms that are not only user-friendly but also uphold the highest standards of ethical betting, contributing to a more responsible and enjoyable betting culture.

Future Perspectives

Looking towards the future, Paruyr envisions a betting landscape that is more inclusive, technologically advanced, and globally connected. He anticipates a significant shift towards more decentralized and transparent betting systems, driven by blockchain technology. Paruyr is committed to being at the forefront of this change, continuously exploring new possibilities and innovations that can redefine what it means to engage in sports betting in a digital world. His focus is on building systems that prioritize user empowerment, fairness, and the global growth of the sports betting community.

 

Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief

Sol's interest in sports was sparked at a young age, inspired by athletes such as Barry Sanders, Michael Jordan, and Wayne Gretzky. This early fascination evolved into a deep-seated passion, guiding him toward a career in sports journalism in 2007. Over the years, Sol has contributed thousands of articles and reviews to dozens of online platforms, sharing his research, knowledge, and perspectives.

“In the world of sports betting, truth is more valuable than any bonus offer.”

ExperienceYear
Content Manager, OnlineCasinoReports2012-2021
Sports Journalist, Dottraffic2009-2011
Content Writer, HouseTech2007-2009
Cristina Varela Galan
Cristina Varela Galan
Problem Gambling Expert

Cristina used to work as a Psychology Assistant in the Bizkaia Pathological and Risky Gamblers Association. She was also part of a research team in Deusto University, specializing in pathological gambling area. While working there, she managed to develop her own project 

 “Exploring the association between emotional regulation, alexithymia, stressful life events and gambling in adolescent and young adult women”.

Nick Ashbourne
Nick Ashbourne
Senior Writer

Nick has been fascinated with sports since he was first taken to a Toronto Maple Leafs game back in 1998, and he's written about them professionally since 2014.

Nick has covered baseball and hockey for outlets like The Athletic, Sportsnet, and Yahoo Sports, and his sports betting expertise has grown since its legalization in Ontario in 2022. 

Between 2022 and 2023 he worked for a betting startup called NorthStar Bets, and in 2024 he contributed to Oddspedia before joining the Responsible Gambling team.

Anna Kravtcova
Anna Kravtcova
Problem Gambling Expert

Ph.D. in organizational psychology, an internationally certified psychologist (EuroPsy 2022, Cognitive behavioural therapy of mindfulness 2020, International Society for Emotional Intelligence 2017, Russian Psychological society 2014, American Psychological Association(Society for Industrial and Organizational Psychologist) 2011), speaker of many international conferences (USA, Brazil, Portugal, Czech Republic, Russia, etc.). TEDx speaker.

Mike made the decision to dive headfirst into the booming world of sports betting fresh out of college. Back in the day, when 1-800 pick lines and sports pagers were all the rage, he couldn't resist the allure, having grown up idolizing sports legends like Sweetness, MJ, and Slammin Sammy. Mike dedicated his early years to the industry, tirelessly analyzing games, writing articles with free picks, and selling his expertise on reputable handicapping sites. Unlike many others, Mike was known for his integrity and only released one Game of the Year per sport, per season. His hard work and unwavering commitment paid off, earning him a devoted following and propelling his career to new heights. Then came the explosion of Daily Fantasy Sports. Believe it or not, companies like DraftKings and FanDuel used to pay Mike's company to increase their brand exposure. Now, those same industry giants don't even bother responding to his emails. While Mike appreciates the convenience of being able to place legal bets in his own backyard, he can't help but feel disheartened by what has become of the industry. People are being led astray, falsely believing that a mere $5 wager on a 20-team same-game-parlay will be their ticket to financial security. If there’s one thing Mike learned from making book back in the day, it’s that parlays are a bookie’s best friend. A bankroll is the only leg you have to stand on in the battle with the books, and Mike’s here to offer up advice on how to protect it.