The Weiss Sportsbook Loyalty Program Clarified

Weiss Casino and Sportsbook is a Curacao-license online gambling platform that caters to crypto gamblers and is operated by the Taktonum Group as this company’s sole betting and gaming website. It has a Betsy sports wagering page and no selection of promos for bettors. It lists a casino welcome package, only letting sports gamblers get tokenized rebates through this brand’s loyalty system, which we shall unravel below.

The WEFT Token Explained

WEFT is an acronym for – Weiss Fuel Token. This is a blockchain-based loyalty token used at the WEISS crypto gambling site. It functions as a digital currency that rewards platform users based on their activity on this crypto gaming and betting hub, supplying them with long-term and instant benefits through this website’s earning programs. It is a way, or a mechanism for gamblers to get real value form gambling here.

In essence, WEFT is a reward system for players. Every time you make a bet here, you earn WEFT tokens, even if your bets are losing one. These tokens get issued on the Binance Smart Chain blockchain, ensuring security, and they can be converted into real money.

You can snag these digital assets via regular gameplay, through a holding system that reaps additional rewards, and it is also possible to get them through various campaigns, which reward you for completing tasks such as registering here, fulfilling the Weiss KYC process, or by claiming cashback offers.

The WEFT token has its dedicated Twitter/X page, which you can check out on the following link – https://x.com/WEFT_Token. If this token and the Weiss sportsbook interest you, please do, as you can find news about Telegram and Discord promo codes there that can get you free tokens.

The Play2Earn Program

The Play to Earn program gives you Rakeback in loyalty tokens (WEFT) for every bet placed. These get added to your WEFT balance and can be withdrawn and used in the Hold to Earn program. Rewards get calculated using this formula – reward = (bet sum * bet wager) / exchange rate. Bet wager refers to a multiplier based on the type of gambling used. As explained above, the WEFT token exchange rate is one to $0.0142. Please remember that rewards are only given for real-money bets. Wagers made with bonus funds do not get factored in. You can track how many tokens you have earned through your Analytics page on the Weiss website.

The Hold to Earn Program

It allows you and other Weiss site users to contribute your tokens to a pool, where a percentage of the casino’s income gets shared. Naturally, this occurs depending on how much each pool participant has put in. It is based on their contributions. The goal of this system is for everyone to get additional rewards if the platform profits during the period when hub gamblers have placed their tokens in holding. That happens via revenue sharing, where you get a slice, a portion of this crypto casino and sportsbook’s Gross Gaming Revenue, or GGR, proportional to your contribution to the pool. If the GGR grows during your Hold to Earn period, you will receive increased revenue.

It is vital to note that you will always get the tokens you contributed back. If the site is not turning a profit, your original tokens get returned, and you reap no rewards.

The limitation of this scheme is that there is a cap on how many tokens you can put in high-yield programs, such as those lasting eight hours or a day. The limit gets calculated by multiplying the Hold to Earn Limit coefficient by your Play to Earn income. The default coefficient is 5,000, but it can get boosted through various promotional programs.

You can view your active Hold to Earn program status in the My Holds of this site. It includes the number of tokens earned, along with a profitability graph.

The Weiss Loyalty Program

How does this work? It is a system functioning through the Play2Earn mechanism, where tokens determine your loyalty level. The number of ones you received within the last year determines how many loyalty points you accumulate.

As explained, you gain points based on how much you bet and how many WEFT tokens you earn through Play2Earn within a year. These boost your loyalty level. The more points you have, the higher your level. There are thirty in total, each offering better rewards such as cashback, higher Play2Earn multipliers, and increased staking limits. Each level has a total score requirement. Level 1 requires no points, while Level thirty ass for a million.

As you level up, the staking limit coefficient for Hold2Earn increases. This coefficient determines how many tokens you can stake in the Hold2Earn program. It follows this formula: limit = WEFT from Play2Earn x multiplier. The multiplier depends on your loyalty level. For example, the first carries one of 200, and the fourth a multiplier of 350. In the final level, you get a multiplier of 1,650.

Cashback is a recurring reward of this program, with rebates starting at a weekly 5% in the lower levels of this system, jumping to 30% in the last one. The terms that come with awarded cashback vary; some levels have an x60 rollover that must get completed before you cash out, but higher ones have no such stipulation.

Note that only WEFT earned via Play2Earn contributes to your level ascension. That is so you get stimulated to gamble more here because that opens you up to getting more rewards and better staking opportunities.

Other Handy Tidbits of Info

You cannot deposit tokens until WEFT gets listed on a decentralized exchange. It is not possible to buy these digital assets before then, and ofo course, it is not possible to withdrawal them to a crypto wallet until that occurs. That said, tokens can get obtained by you withdrawing them from the loyalty program and adding them to your site balance. Also, on some occasions, this platform may run campaigns that let you purchases tokens through various means on this site.

To transfer tokens to the casino balance, head to the Financial Transactions section on your account page, and pick withdraw to the casino balance. Then, specify the desired withdrawal amount. Like we discussed before, the rate is 1 WEFT = $0.0143.

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