Why Jackpot City?
Jackpot City NZ is one of the most popular and reliable virtual gambling halls. The casino started operating in 1998, and since then, has gained huge love and trust between customers from all over the world. It is owned by the Maltese company Digimedia Limited, and licensed by the local gambling authority. Top Online casinos are regularly checked by various independent agencies for fair and safe experience, including the international organization eCOGRA, which protects the rights of online players.
Jackpot City continues providing a great service for players year by year. In previous year, Jackpot City announced a NZ$16,4 million jackpot winner in the Mega Moolah slot. This event has attracted thousands of new players, thereby raising the casino popularity even more. From the very beginning of casino activities, a large number of players have been winning enormous prizes.
Here we will be talking about a new loyalty system in Jackpot City, which allows you to earn loyalty points, and later on, exchange them into real credits. Loyalty programs in this casino consists of 6 levels of privileges.
6 levels of privileges
As soon as you create an account, and sign-up, you’ll automatically be awarded with the 1-st “bronze” level. You may realize that the first level is not very beneficial, but you can quickly start your journey to get new benefits, and earn more loyalty points to unlock new levels. The question is the following: how to get these points? Well, you need to make a qualifying first deposit, and after that, you will be presented with 2,500 loyalty points, which is already enough to go straight into the “Silver Level”, as a result, unlock 3% level bonus, and 25% extra on daily specials. Let’s see what you got on each level.
- Bronze level: 0 – 2499 loyalty points
- Silver level: 2500 – 11999 loyalty points
- Gold: 12000 – 49990 loyalty points
- Platinum: 50000 – 124999 loyalty points
- Diamond: 125000 and more.
- Prive: after invite only
Basically, after each $1 you wager on slots, you earn 1 loyalty point. However, it only works for slots. When you wager on table games, for example, you have to wager $5 to earn 1 loyalty point. In the case of video poker, you have to wager $20 for 1 point. Interesting note, if you want to achieve Gold level, you will have to wager 9,500 on slots. But it doesn’t mean you have to deposit such a big sum to your balance account, since every time you win, you can re-bet the money, and it counts towards the wagering. In general, wagering differs due to the different RTP of the games. As playing table games you have a higher odds than slots, that’s why you have to wager more to jump to the next level.
Let’s figure out the main types of rewards
By that, we mean Level bonus, Status points, Daily Specials, and Monthly bonus. You have to read the description of all of them, to take the most out of the loyalty program.
- Status points – this is the number of loyalty points you need to get in order to achieve a certain level.
- Level bonus – shows the real percentage from your real money wager. It gives you an opportunity to earn
- loyalty points faster. For example, in silver level you get loyalty points 3% faster than in Bronze.
- Monthly bonus – it’s about extra bonuses which you get for maintaining your loyalty status for 3 month straight. The higher level you maintain for three months in a row, the more loyalty bonuses you can earn.
- Daily Specials – it simply gives a set of games with easier to earn points.
How to cash out your loyalty points?
After achieving a good amount of loyalty points, it’s time to exchange them into bonus credits. To do that, go to the “Loyalty” section, and enter the amount you want to exchange, press the “Redeem” button and, and you’ll be awarded with corresponding amount of credits.
Jackpot City offers a wide range of loyalty privileges, and benefits. We discussed the main aspects of how to get bonuses, and how to exchange them. Make the first move by signing-up, making the first deposit, and you’ll be instantly promoted to the second “silver” level. For that, you’ll be getting 3% more loyalty points from each wager.
Experienced gamblers like bonuses, but they hate wagering requirements. The players know what they mean, that is why gamblers use them quite rarely. So, let me clarify what exactly the wagering requirement is, what reference it has to the bonuses, and why players recommend avoiding them.
Wagering requirements & bonuses
When you launch a gambling site for the first time, you can see the striking images offering you cash prizes and free spins. This is definitely attractive but remember that it’s not all gold that glitters.
The welcome offers have requirements. The wagering requirements are the number of spins a player makes with the given ‘welcome reward’ before he actually requests for payout. In other words, these wagering terms imply that you have to deposit, make several spins (x30, for example) and only then you can withdraw the money. If you won some, of course.
The number of spinning times (or hands) varies from casino to casino. It depends on their own requirements. So, remember to read the bonus T&Cs before claiming for the offer.
Why do experienced players recommend avoiding bonuses?
As you can understand now, the terms require you to deposit, get the extra money and play these rewarded money through. The last process goes on very slowly especially when the money sum is big. So, you have to make a lot of unnecessary spins. You don’t need them just because you’ll have little profit from the free prize in the end.
Let’s suppose you deposited $50, your offer claims you get 100% deposit and have to wager 30 times. Totally you have $100 to play. But you can’t make ten spins of $0.25 bet and make a withdrawal. You have to meet the requirements, so you spin 30 times. During these rounds you can go low beyond the rewarded $50 and touch already your own budget. As a result, you spend your money and don’t actually win.
That is quite reasonable why a person might get a thought of starting its own online gambling business. It brings much profit, especially nowadays when online related industries are at the top. Just like the huge yearly revenues of online casinos, one has to spend the big sums of money for the business launch.
Gambling business requires many responsibilities and attention. The known stereotype about casinos that they are always cheating impose additional obligations on the casino owners. They have to license their business activity, get special certificates and constantly prove that they are safe and fair.
This ‘proof’ costs money which you as a potential owner need to pay at the very beginning. All the licenses, certificates and security technologies are the first instruments that you have to think of before you start. Not a single high roller or even a regular player will make funds into an ‘unknown’ casino without an official license.
However, in order to receive a license you need to accomplish several steps. First one is to create the company according to the laws of the country that allows running online casinos. They are usually small countries like Malta, Costa Rica, Gibraltar or it can be the UK, by the way. The company registration cost varies. In the UK it’s 550 euros, in Costa Rica you would have to pay almost 3,000 euros. However, Gibraltar and Curacao don’t take charges at all. So, let’s take the average cost of the registration of a legal entity – $1,000.
The site content is the most important. It’s the face of the online casino. The real money attractive games are what people come for to the online casinos. Basically, you need to make a deal with at least one software provider and have a minimum of 500 games in your casino lobby. Nevertheless, the more games and providers, the more customers. The price is different again. It varies from $10,000 to $150,000. It depends on the provider reputation and amount of games you purchase. Mind that you will have to pay commission from each game. About 15% from one game revenue goes to the provider. Averagely, you could pay about $50,000 for games including commission.
Finally, you can apply for the license. This step allows you to host servers and represent casino games worldwide (where they are accepted by laws, of course). Generally, the licensee is based in the same country where you registered your casino business. Accordingly, the price varies. For example, in the well-reputed Malta you can get the MGA license for about $18,000 + the same for annual fee, in total over $35,000. In Costa Rica you’ll pay totally $50,000. Besides, the license doesn’t last forever. It’s issued for several years. On average, 6 years is the expiry date. So, let’s assume that the first licensing costs $50,000 including the cost itself and annual fee.
Your casino site should be, first of all, clear and easy to navigate. Whenever a visitor enters the site, he or she must understand what the casino offers: games, bonuses, banking options, support, security and etc. Clarity, transparency and availability of all website options. The whole development of the website costs from $10,000 to $50,000. Though we can’t deny additional losses. Let’s take $50,000 for the website development stage.
This step is necessary for all businesses. In order to let people know about you, you need a marketing plan including advertising, SEO content and affiliates. Your minimal marketing losses can be $20,000. However, it doesn’t make much sense as it pays off quite a little. For the good profitable marketing system you can pay $100,000 and even $200,000 monthly. Additionally, you will have to pay a fixed sum and sort of 20% commission to the partners that brought you clients. All in all, for the advertising stage we have approximately $100,000 a month which annually is $1,200,000.
Here you should include, first of all, salaries for your staff. It should be a whole team of specialists in the fields of design, web development, security service, support, sales and marketing, finance and copywriting. In addition, you will have to maintain the site and its security system annually. The total cost of this all will be about $500,000 a year. It depends on the salary amounts you can afford, of course.
This is a specific amount of money you save in the bank as a guarantee that you are able to give payouts to your players. It can’t be used for taxes and other expenses. This is a necessary fund, and its minimum depends on the registration country. It will cost you about $100,000.
If we consider each expense given above, the online casino site costs $1,951,000 at the start. Still, you have to understand that this sum is not exact. In reality you may pay more or even less. Anyway, considering all the necessary and additional expenses, you need to have at least $2 million in your account to open and maintain the casino site during one year. With an excellent marketing plan you can compensate for the losses during a couple of years, or even less period of time.
To ensure that we are thinking about one and the same thing, let me clarify the differences between the real gambling sites and fake ones.
A real online casino is a gambling platform operated by an officially registered company. The owner takes responsibility for the good customer-oriented reputation of its casino which is achieved by following the strict regulations.
On the other hand, a fake online casino also has an owner. But this owner is a fraud who has never actually created a company, and the more so, haven’t registered it officially. He is just a smart person with excellent computer skills. He can make a fishing site within a day, put it crudely. Later, he only waits for the naive people who fall for the easy-made site and deposit without reading terms.
Real Online Casino Checklist
As we can see, apart from the fraudulent gambling sites, there are also real online casinos that provide appropriate service to the customers. They follow regulations issued by the gambling authority license, which is, by the way, a proof of the real and legitimate existence of an online casino.
Let’s sum up what you need to know about real online casinos. Before you sign up, review the casino for the following points.
- License. The casino site must be licensed. The top licensees are Malta GA and the UK Gambling Commission.
- Official data is transparent. The online casino that takes care of its reputation should place the information about the company registration and licenses right on the main webpage, or at least in the ‘About us’ section.
- Appropriate terms. The golden rule of all gamblers is to read the T&Cs very carefully. If you see something that prompts doubtful thoughts, don’t sign up. The same is applied to the bonus T&Cs.
- RNG certificate. The so-called Random Number Generator usually powers all the games in the lobby. The proof for the randomized games is a certificate. The most reputable one is issued by eCOGRA. The Independent Auditors sign also is accepted as the testing certificate.
- Comments. The last but also very important thing to check is the comments section. The feedback given by the real players is the #1 indicator of the real online casino. The fact is that frauds can just add the info, license and certificate signs to the webpage to deceive users. To avoid this experience, try to find the real comments on the online casino that you select.