Most online games are commercial systems that attempt to motivate gamers to continue playing by enticing them to progress from one game level to the next. This indicates that the expectancy for character growth (i.e., the anticipation of an increase in game level) may enhance loyalty. However, no research has yet examined the antecedents of expectancy for character growth. Hence, this study adopts the theory of consumption values to examine the relationship among consumption values, expectancy for character growth, and online gamer loyalty. Responses from 1440 online gamers were analyzed using the structural equation modeling method. Learning, novelty, enjoyment, and social value were positively related to expectancy for character growth, and thus loyalty. This study is the first examining the relation among consumption values, expectancy for character growth, and online gamer loyalty. It contributes novel insights enabling electronic commerce managers to make more targeted decisions on resource allocation to effectively enhance gamers' expectations and loyalty, thus creating promising revenues and competitive advantage.