The more consecutive days you visit, a higher level you will reach and better prizes you will receive. The first couple of tiers mostly have random item prizes like glass shards, driftwood and shimmering flecks. These items don't have much use besides being used in some recipes.
Once you get to tier 3 you have the chance to get nice things like Quelis eggs and colour changes.
Some of the newer prizes are the Enchanted Axolotl, which is an everlasting toy and can be obtained from tier 4 upwards; and Seymour's Treasure, a book which can be obtained from tier 5 upwards.
Apart from these prizes there's also the chance that you'll gain/lose tu or stats.
Hopefully that helps a bit. Let me know if you'd like me to clarify anything~