The Caesars Rewards program let’s you earn credit at over fifty of their properties spread out across the nation. Tying one’s sports betting to a reward system is yet another tool for a gambler to get an edge against the casino. Caesars Rewards is a program that gives some relatively good perks to the people who use their app (or player’s card at the window). Here, we will break down what those specific benefits are and how to use them to your advantage.
What Is Caesars Rewards?
Caesars Rewards is broken up into two parts.
Firstly, there is the My Tier Score, which effectively represents one tier status in the program. Currently, there are six different tiers in the Caesars Rewards system ranging from Gold to Seven Stars®. Like all rewards programs, the benefits increase at each tier. Furthermore, a full list of these benefits can be found on Caesars Rewards site.
The second, and more important piece, is Reward Credits. These represent credits that be redeemed for gaming, entertainment, food, etc. at all the Caesar’s properties. Although there are a few exceptions, these can be redeemed at a rate of 100 credits for one dollar. This exchange rate of 100 Online Reward Credits to $1.00 in Bonus Cash does apply for sports wagering.
What Do I Earn With Each Sports Bet at Caesars?
Though these numbers constantly change, right now Caesars offers one Reward Credit and one Tier Credit for every $10 of potential profit on sports bets. From the Caesar’s web site:
Maximum Reward Credit and Tier Credit earning rate is for straight bets with -300 odds (or longer) and parlay bets with +200 odds (or longer). Wagers with shorter odds will have lower earning rates. Fractional credits are tracked but are not earned until subsequent wagering earns an additional whole credit. As an example, if you place a $55 straight wager with -300 odds, you will receive 5 Reward Credits and 5 Tier Credits for that wager. If you place a subsequent $5 straight wager with odds of -300, you will then earn 1 additional credit, resulting in 6 Reward Credits and 6 Tier Credits for the $60 you wagered in total.
How Much Value Do I Earn at Caesars Rewards With Each Bet?
Using the rules of the program, I built a calculator to estimate the amount of credits that one would receive with each bet. To use the calculator, simply place the bet amount and odds of the bet and the system will output the estimated tier credits and reward credits.
The last output in this calculator is the estimated additional value for each bet. To calculate this, we first have to get a rough estimate of what each point is actually worth.
Firstly, the Rewards Credit is a pretty easy variable to estimate. Since one can turn in 100 Rewards Credits for a dollar of sports betting, we can easily assume 1 credit is equal to one cent.
Secondly, the Tier Credit is a little more difficult to estimate as the benefits are typically seen at higher tiers and in random chunks. There are a few benefits of note that can help us value these credits. First, a value credit can be found at Diamond level where the reward member receives a $100 dinner voucher. Second, at Diamond Plus level, the member gets access to the VIP Laurel Lounges which is good for four free drinks per day. Third, at 75,000 tier credits, one gets a $600 airfare credit to Las Vegas every year. There are a variety of other benefits that go into the calculation, but for simplicity, I will give each tier credit a value of $0.008.
Final Thoughts
For every standard bet made at -110, the bettor gains an extra edge of ~0.16% by connecting to the Caesars Rewards system. While this may not sound like much, in the world of sports betting, every little edge counts. This can be especially beneficial when combined with other sports betting strategies like line shopping.