If You Are A VIP Or Account Manager And Would Like To Change Your Life, Read On…
As with many business types, in the igaming and betting sectors there are customers and there are customers. The real customers of igaming firms that help to generate the real profits are VIPs. VIPs are players who happen to have a substantial net worth and so are willing and able to gamble with much larger amounts of money than the rest of us. Finding and retaining VIP players is very important to the success and profitability of a business, which means that most companies have VIP management jobs where staff look after the needs of these big players.
What is a VIP?
The movies has given us a good but stylised image of a VIP player. We might think of them as high rollers or whales, but they are all the same people.
In the movies – and possibly in real life Las Vegas – a VIP client is someone that plays regularly in a casino and gambles substantial amounts of money. By regularly, they might gamble one weeked in eight, for example. By substantial amounts of money, they might be willing to play for tens of thousands per trip. These players need to be attracted to a property and then are usually wined and dined to keep them on site and playing.
Away from the movies and in the world of websites and igaming, these players can play from home, or their smartphones, without needing to visit a physical location. This makes it harder for an online casino or sportsbook to retain them as players because there are far fewer opportunities for phyiscal meetings where the business and the individual can get to know each other.
What is a VIP manager?
The job of a VIP manager is to help these high value players to feel welcomed, appreciated and willing to keep playing on a particular website. To be blunt, at times this job can be customer service for high earners.
VIP managers will categorise their high roller players based on the frequency with which they play and the average amount that they are willing to wager and then find ways to offer them special deals, treats, rewards and special treatment to continue. A low level VIP player might receive a bonus once per month and an ocassional phone call for a chat from a VIP manager. A mid level VIP player might be invited to marquee sporting events or football matches each year, such as the FA Cup Final at Wembley. In contrast, a high level VIP player might be taken on a vacation where everything is provided and they have an amazing time, tailored to their tastes and hobbies. If they like sports, then they might be taken to a Formula 1 Grand Prix for the weekend, or to World Cup matches etc.
A VIP manager needs to understand what their players are interested in, what they would like to do and then make it happen in a way that their players will enjoy. This is actually much harder to do than it sounds because whales are generally much wealthier than most people, which means that they can arrange these things for themselves if they want. Their VIP manager needs to be creative and provide experiences that are genuinely difficult for them to arrange themselves.
This all means that VIP managers work in sales. This is the igaming sector’s version of an account manager job. The role is similar to affiliate management, but differs because an affiliate manager might be managing hundreds of affiliates, whereas a VIP manager needs to spend the bulk of their time and attention on just a few players. It also means that experienced sales and account managers can often transition into VIP management because there are similar skills required.
This sounds like an amazing job – VIP managers go on amazing trips and to exclusive sports events, music festivals and whatever else appeals to their players. However, when a high roller calls wanting one on one attention at 11pm on a Sunday, their manager is expected to be available to take the call and help them. In that regard, it is a high pressure job with lots of responsibilities.
VIP manager jobs are very important in igaming
It is difficult to overstate the extent to which igaming businesses need VIP players and VIP managers. Your author has personally worked for a company with two brands where one was very successful and the other earned around sixty percent of its regular revenue from just one lady. If that lady ever decides to stop playing, runs out of money, falls ill or dies, then there are around twenty staff that will no longer needed because the site will be unprofitable!
We have also heard of one player at one of the largest firms, who bets so much that his VIP manager is the company CEO!
How much do VIP managers earn?
There are typically two types of role in a VIP department. They will be Head of VIP, who will likely report to the Head of Marketing, CMO or COO, and VIP Managers, who will report to the Head of VIP. Typically, VIP Managers are recruited from different countries because they speak the right languages – such as German or Swedish – and have relevant experience.
A Head of VIP is likely to earn more than €50,000 per year, while VIP Managers are likely to earn between €30,000 and €40,000 per year.
If you are looking for a new job in VIP management, let us help!
We have worked in the igaming sector for the last few years and know many, many people within it. Over time, we have come to learn who are the best and worst people to work with. Here at MaltaStar we have partnered with a recruitment consulting firm who specialises in igaming and has a strong presence in Malta. We have personally used their services – that means that we have been placed ourselves by them – and liked them so much that we now recommend them to others! If you would like to have our recommended partner help you, please follow the link below to send us your details today.