I totally agree with this.
These kinds of contests (wagering leaderboard, high multiplier...) are the most effective promotional strategies for attracting gamblers and turning them into loyal customers.
The big reason for this is because of how engaging they can be. Gamblers will not even know when they are becoming loyal customers because these promotional strategy will have them always wanting to come back to the platform.
yes, but at the same time it's a double edged sword strategy, because as soon as they stop those promotions, a lot of players would leave as they are not there for what the casino has to offers overall, they are only there for the wagering leaderboard and the contests.
and you can already see this if you compare the numbers of the first leaderboard and the current one.
I think it has more benefits than drawbacks. This is because it builds customer loyalty, and depending on the type of bettor, they will stay with the bookmaker because they like the odds or the VIP. I don't think most would change because of the competition.