Are You a High Roller?
The online gambling industry is currently worth over USD$41.7 billion, and this number is projected to grow significantly over the next few years. It is a booming part of the economy as more and more players have found the online platform to be both exciting and convenient.
While this total revenue comes mainly from the average casual player placing bets online and making modest deposits, there is also a niche demographic within the industry known as the high roller.
Do Big Bets Make You a High Roller?
While almost every online casino player has probably heard the term “high roller” before, most think of it as an individual who is incredibly wealthy and has endless amounts of money to spend at the casino. This definition may have held true years ago when the only option for gambling was a land-based casino in Las Vegas or elsewhere. However, with the new inclusion of the online casino, the meaning of a high roller has changed and so has what a casino offers.
In the traditional sense of the term, a high roller is a player who spends a high amount of money at one time at a casino. Though they don’t necessarily represent the majority of a casino’s revenue, high rollers are a vital part of the prestige and allure of any casino. Venues will normally spend a lot of money and time to draw in the high rollers, such as bringing the player to the location with a private jet. High roller players are also escorted in limousines, given the best suites at casino/hotel combinations, and are given plenty of comps in every aspect of their time at the casino.
Many casinos have no problem with these expenses up front because they anticipate high roller players who visit with at $50,000 to $75,000 in cash to spend each time. It largely depends on the casino itself. The establishments with major financial backing can take this risk because it can potentially generate huge returns. However, other smaller casinos would be hesitant due to the volatile nature of casino games and an unpredictable outcome for the player and the house. If a high roller shows up to the casino to play and ends up losing, it can generate considerable revenue for the casino far beyond the expenses for accommodations. Players can also end up winning, though, and then the casino takes a huge loss.
For high-rollers, a casino will typically have betting limits to protect its own interests. In the city of Las Vegas, the most popular casinos will have a broad range of betting limits, but usually no more than $300,000. This number generally holds true for venues in Europe and Australia as well. At casinos that players visit in Macau, the top betting limit can go as high as $500,000. These limits commonly allow high rollers to have exclusive use of a table by themselves.
It should be noted that high rollers are the rare type of player who visits a casino, instead of being the most common player. For example, the state of Nevada in the USA reports that about half of its entire gambling revenue comes from slot machines. This shows that much of the income seen comes from the average visitor and not an individual of considerable wealth.
The interesting question is how the status of being a high roller would translate to top online casinos and what these destinations can possibly provide to compete with their land-based competition. High rollers who prefer to play online are essentially the same when it come to financial standing. Any online high roller would be expected to deposit and play with a large sum of money on a consistent basis. Because of this, the online casino must be prepared to relax its wagering requirements and take away low betting limits on certain games. Otherwise, the high roller may take their business elsewhere. There are countless online casino choices and the competition is fierce, so any destination must really make itself stand out.
There are no travel costs associated with playing at an online casino and no need for luxurious suites or high-class transportation. In this case, the online casino management needs to improvise in order to give the high roller rewarding benefits that other players do not receive. Online high rollers would receive other specific benefits like frequent deposit bonuses when they make a transfer to their account. If the valued player enjoys online slots, casinos will oftentimes comp them with free spins on games among other perks. Even though the setting is online, a high roller can also receive invitations to exclusive events in the real world. These would include high stakes tournaments and conventions that bring together high rollers from across the globe.
Becoming a VIP
If a player really wants to determine if they are a high roller in the online casino community, they are encouraged to visit some of the best online casinos and review the terms of the VIP program. This program is typically tied into the loyalty system that a casino offers, and “VIP” is the common term used online for any player considered to be a high roller who frequently visits a certain site.
An online VIP status is almost always tied into loyalty points earned at the casino. Instead of a land-based casino having to know a high roller’s reputation beforehand, players online have the opportunity to represent their financial status by earning points and advancing through the various levels of a loyalty program. This also means that anyone has the opportunity to become a VIP as long as they complete enough deposits and place the required number of bets over the course of a month. The terms and conditions for reaching VIP status are steep, but this is a proven way to determine for sure if one is a high roller.
High roller status at an online casino is not for everyone by any means, as it requires a significant amount of dedication, both physically and financially. However, if a player feels that they are at this level of spending, they can receive exceptional value and benefits from online casinos.