Online casinos constitute VIP clubs that go by various names. These clubs usually have six levels of membership that is dictated by how much a player wagers in a given unit of time. The players who wager least are at the lowest level and the players who are most loyal and wager the most are given membership in the highest level. Each higher level of membership gives increasing bonuses to players.
The most important loyalty bonuses at online casinos are the loyalty points given to players. These are also known as "comps". The loyalty point scheme is different at different online casinos. Essentially it consists of awarding a certain number of loyalty points for $X wagered. At lower levels of membership the number of loyalty points for $X wagered are lesser and at higher levels of membership the number of loyalty points for $X wagered are more. Hence at higher levels not only are you wagering more but are earning more loyalty points per dollar wagered. Hence you are accumulating loyalty points much faster.
There are several options available to players for converting the loyalty points into loyalty bonuses. The most useful option is converting it to cash and adding it to your bankroll. Most online casinos convert 100 loyalty points to $1 in playing credits. At the end of the month the casino credits this amount to your account as loyalty bonus. As with other bonuses the player has to wager the bonus amount a number of times before he can withdraw the winnings. The loyalty points can also be used as buy-ins for tournaments conducted by the online casinos. In some cases the loyalty points can be used as buy-ins for satellite tournaments as well. The number of loyalty points required for entry to various tournaments is fixed by the online casino.
Membership to the highest level of the VIP club, which is granted to only the most loyal players, comes with several additional benefits. Just as high rollers are given preferential treatment in brick and mortar casinos, members of the highest club level are given preferential treatment by online casinos. They are guaranteed a table the moment they log on, so they do not have to wait. They have personal assistants from the casino online with them all the time so their problems are solved on the spot. Transmissions of winnings are done preferentially and hence are much faster than the normal process.
The moral of the story is that online casino hopping does not pay. Find what you like, stick to it and reap the loyalty bonuses.