How does one go from Black status to Elite '94 club (VIP) status then gets dropped back to Black status. 
It would depend on account activity. Black status is as high as you can go without being VIP.
Similar question. You reach diamond levels 1 2 and 3,then you finally reach black level.Whats the upggrade in rewards?? Should get a car.
The details of the Bodog Rewards program, including levels and benefits, are explained here: https://www.bodog.eu/promotions/bodog-rewards