Do the raid on hard and you'll receive twice the rewards when completing a section of the raid. This will also double your chances of getting better loot.
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Do you receive anything if you've already beaten it on normal? I know the chests is a no but what about the bosses?
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If you've already completed it on normal you will receive a reward for doing each boss on hard. If you skip doing it on normal you will receive two rewards each time you beat a boss on hard.