Simply put, XP is used to level up through the VIP system. XP is granted for every dollar wagered through Degens, no matter whether the bet wins or loses for the player. Even a lost bet earns XP and the more you bet, the more XP you earn to move up through the VIP system accessing valuable cash bonuses.
The amount of XP earned varies per game depending on house edge. So, try out a variety of your favorite games to find what gets you the most XP bang for your buck!
In addition, be on the lookout for occasional XP promotions.