Driving VIP iGaming player loyalty & retention for online sportsbooks

What is a VIP player?

VIP players are those gamblers who wager higher amounts and more often. After all, while VIP customers tend to make up a smaller percentage of an operator’s overall player base, the revenue they contribute is much higher.

The importance of VIP players in online sportsbooks

Because they contribute more, iGaming operators must attract and retain VIP players. Our research into VIP players found that 55% have a preferred sportsbook. That customer loyalty is particularly strong in some regions like Mexico (62%) and Peru (65%).

When it comes to engaging VIP players, operators need to leverage a different approach to the strategies they deploy with casual bettors. A bespoke experience for high-stakes online sports bettors will prove essential when converting and retaining these coveted customers, especially when it also focuses on payments.

Payments: The cornerstone of VIP conversion and retention

In our report, All the Ways Players Pay, we found that VIP sports bettors prioritize the payment experience when both selecting a sportsbook and, over time, reassessing whether to continue wagering with a particular brand. In fact, 82% of players state that the payment experience is a critical factor in deciding to continue wagering with a sportsbook. Interestingly, factors like payout speed, security, and preferred payment methods can outweigh benefits like odds or promotions.

Those who wager with sportsbooks more frequently are also more likely to use digital wallets. This suggests that the efficiency and security provided by digital wallets are particularly valued by those who engage in betting activities more regularly. More frequent bettors, who often wager across multiple sportsbooks, benefit from digital wallets’ ability to streamline funding and payouts more efficiently than traditional payment methods like debit or credit cards.

Whether it means streamlined deposits or rapid, effortless payouts, operators will only maximize their conversion of high-value VIPs if they get payments right.

Defining the VIP player payment experience

An optimal VIP payment experience must offer fast, frictionless payouts as standard, as quick, easy payouts are the most influential factor (34% globally) in choosing a sportsbook. On a regional level, this rises to 41% in the USA (and 42% in NY/PA).

Ease of deposits is also crucial, as less friction means sports bettors can begin playing sooner. Quick and easy deposits are cited by 25% of respondents globally (29% in the USA) as a reason to choose a particular sportsbook. Perhaps most importantly, 25% of players globally highlight the ability to deposit and withdraw with their preferred payment method as critical.

When taken together, these insights highlight the importance of streamlining payments to deliver an exceptional VIP experience that fosters player loyalty. It also helps explain why digital wallet solutions are essential to enabling rapid deposits and payments without compromising security.

Preferred payment methods and deposit guarantees for high-value players

Each player has their own payment preference, so providing a broad selection is vital. Debit cards are still king on the global stage, but digital wallets are rapidly gaining in popularity. In Argentina, they are already the preferred deposit method.

Why? Nearly 40% of sports bettors choose digital wallets because they are safe and secure. For VIP players specifically, many are attracted to digital wallets because they come with additional loyalty benefits. Others value the high deposit and withdrawal limits.

Offering VIP players’ preferred payment methods and deposit guarantees will encourage player loyalty.

Retaining high-value players: The cost of a poor payment experience

A major takeaway from the 2023 edition of our research was that if a high-stakes VIP customer is disappointed by their payments experience, they will very likely abandon the book for a rival that is transactionally superior. And there is little reason to think this has changed since then.

Now we find that 73% of bettors will leave a sportsbook due to a poor payment experience. Security is also critical, as 41% of sports bettors cite it as a top concern when making a deposit. In short, if operators don’t get the payments journey right, they will see these high-value players fall short of becoming depositing customers. Other player concerns your iGaming solutions need to address include: Anonymity (81%), limited payment options (38%), and asking for too much financial information (43%).

But when it comes to player loyalty, payment experience is the deciding factor. 83% of American bettors state that the payment experience is a critical factor in their decision to continue wagering. A bad experience virtually guarantees a lost account.

Strategies for online sportsbooks to enhance VIP payments

Here’s what your online sportsbook can do to encourage VIP player loyalty:

• Prioritize speed and reliability: Smooth deposits and withdrawals make for more satisfied players, and speed is critical. 73% of players expect real-time payments to become widespread within the next two years.
• Offer a diverse portfolio of payment methods: Move beyond basic debit card deposits to include digital wallets, eCash, and other alternative payment methods. 60% of players plan to wager more using APMs over the next two years, for instance.
• Ensure high deposit acceptance rates and minimize friction: The easier it is to deposit, the sooner your bettors can start playing.
• Focus on security and data privacy: VIP players want to know their money and their data are protected. iGaming providers are making improvements, though: 66% of players globally feel confident in the safety of their sportsbook transactions, up 9% from last year.
• Continuously monitor and adapt: You should closely monitor changes in the market and adapt accordingly. With regards to improving loyalty, 33% of respondents now see rewards programs as a crucial benefit.

Get the facts you need to sharpen your player loyalty strategy – Download the 2025 All the Ways Player Pay Report.

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Accelerate your iGaming loyalty strategy. Contact the Paysafe team to discuss your plans and to learn how our proven payment processing tools can improve player experiences and increase loyalty.

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