By now, most people have seen the headline: Stake has distributed around $14 billion in rewards to its VIP players since launch.

The number itself is impressive, but what caught my attention wasn't the total amount–it was how those rewards are distributed.

According to the published breakdown:

  • Manual Bonuses (VIP manager rewards) – 45%

  • Coupons (Promo Codes) – 29%

  • Reload Bonuses – 14.5%

  • Rakeback – 7%

  • Webhooks – 1.5%

  • Races (Tournaments) – 1.36%

The first thing that stands out is that Stake's highly praised loyalty program–the feature often highlighted as one of the best in crypto gambling–accounts for only 21.5% of all rewards (Reload + Rakeback).

Meanwhile, 74% of all rewards come from something much less glamorous:

  • Manual VIP bonuses

  • Promo codes

In other words, the foundation of their VIP strategy isn't built around automated loyalty mechanics.

It's built around personalized, discretionary rewards.

Why does this make sense?

For VIP players, personalization almost always outperforms automation.

High-value players don't expect another standardized reload bonus.

They expect a VIP manager who understands their activity and can offer meaningful compensation after significant losses.

Across the industry, it's common to see 15–20% of net losses returned to top VIPs through manually approved bonuses, depending on player value and commercial agreements.

From that perspective, Stake's distribution looks far less surprising.

What about tournaments?

One statistic that surprised me was the allocation for Races (tournaments): just 1.36% of total rewards.

I expected that number to be closer to 3%.

That said, it also reflects a broader industry trend: standard leaderboard tournaments have become increasingly commoditized. Most experienced players barely notice them unless there's something genuinely unique about the format or prize structure.

Takeaway

One of the biggest lessons here is that automation doesn't replace human relationships at the VIP level.

Loyalty programs are excellent for the mass market, but when it comes to retaining your highest-value players, personalized bonuses and proactive VIP management still account for the majority of reward spending.

Sometimes, the "old-school" approach remains the most effective one.