A gaming system and method of rewarding players of electronic gaming machines connected by a network to a host computer, including storing player-useable points at a network-accessible location, enabling a player to convert at least some of the points into monetary units at a conversion rate, wherein the monetary units are convertible into credits for wagering on at least one of the electronic gaming machines, awarding a personal points conversion rate multiplier to a player, and applying the points conversion rate multiplier to the conversion rate.