Every time you spin in ANY slot, you get 'V' chip points which are used for the Vegas Slots League ranking system. You earn more 'V' chip points with higher bets and x2 points playing in the High roller club.
Once the season ends (which is indicated in the VSL screen), the more points you have, the higher your chances to qualify for a higher division. Higher division means you can get more from store purchases and higher scratcher multipliers.
Points per 'V' chip may vary per week. But ALL players in the same group/division gets the same amount of points per 'V' chip.