What Are Cashback Bonuses?
A cashback bonus is a bonus that pays back a fixed percentage of your losses incurred on a specific game or a set of games over a specific period. Simply put, cashback bonuses are a way for casinos to incentivize users to play more and reward them for their loyalty.
Mostly you will find them bound to the provider or as a time-limited offer, but they all work the same either way. Let’s say you claim a welcome offer with a 10% cashback. Once the wagering requirements are met, the casino will put 10% of your net losses back into your pocket. This means you can play more without 2nd deposit.
Types of Cashback Bonuses
You can find cashback bonuses in various shapes and sizes. Here’s a simple and helpful guide through different cashback offers available at online casinos.
The difference with a cashback offer on deposit is that the casino gives you back a percentage of the initial deposited amount, regardless of your net losses. For example: if you activate a 10% cashback offer and deposit €100, the casino will give you €10 at the end of the cashback period.
Daily Cashback Bonus
The daily cashback bonus is by far the most popular one; when activating a daily cashback offer, your net losses are calculated at the end of the day, giving you a certain period to spend them (don’t forget to use them).
The amount of cashback, of course, is determined by the money (real money or cryptocurrencies) you spend. Playing with high stakes will make your cashback higher, and vice versa, especially at crypto casinos.
Weekly Cashback Bonus
Weekly cashback offers to cover a whole week, which means that by the end of the activated offer, the casino will transfer a fixed percentage of the money you lost back to your pocket.
Monthly Cashback Bonus
Monthly cashback bonuses cover a whole month. If you are both a high roller and an active user, these amounts can show relatively high profits. Also, it lets you forget that you have an active earning offer, making your excitement even greater at the end of the month!
On All Loses
When you activate a cashback offer on all losses, that’s exactly what you get: a fixed percentage of your net losses, regardless of the games you played. These bonuses are most frequently tied to specific games.
Losing Spins or Bets
Activating a cashback bonus on losing spins or bets means that the provider will collect the information about all the spins or bets you have made and lost. Where in return will compensate a fixed percentage of that amount at the end of the cashback period.
VIP schemes are among the best promotions offered by online casinos to users. When loyal players become VIPs, they earn certain perks. Highly reputable casinos tend to offer VIP members is increased cashback bonus.
Reaching a certain level in your favorite casino’s VIP program might earn you cashback as much as 50%.
Wager free cashback offer allows you to redeem some of the funds lost without asking you to meet any playthrough requirements. Sounds simple, right? It indeed is, but keep in mind that, although this type of bonus comes with no wagering requirements, there are T&C’s applied to them. In most cases, a loss limit means that the casino asks you to bet and lose the desired amount before withdrawing.
How to Find the Best Cashback Bonus?
You can take advantage of these offers just by learning a few tricks about how do they work. For that matter, we’ve compiled a few essential aspects to consider:
- The cashback percentage – This one’s simple and works according to the good old “the higher, the better” rule; in most cases, you will see gambling providers offering up to 20% cashback.
- The bonus amount – This figure should also be on the higher side, but beware: aiming for the highest possible bonus amount always remember to not lose more than you can afford to.
- Wagering requirements – Playthrough requirements for cashback bonuses go as low as 1x the bonus amount, so always check these and try to look for the lowest possible wagering requirement.
- Promotion duration – Keep in mind that cashback offers tend to be cyclical; many casinos offer weekly and monthly cashback bonuses. If you activate a weekly offer, you will get back funds at the end of the week.
Cashback Bonus Terms and Conditions
Like the rest of their bonus cousins, cashback bonuses come attached with elaborate Terms and Conditions. While we hate to mention these every now and often, they are the most crucial part of every casino bonus.
The cashback bonus T&Cs will include all of the above information like bonus amount, cashback percentage, wagering requirements, promotion validity, and more.
The fine print may be boring to read, but it can also help you save a lot of trouble and time if anything goes down the road.
No Wagering Requirements
Just as a no deposit bonus requires you to leave money at the cashier, a wager-free cashback bonus implies no wagering requirements. But beware because there will undoubtedly be some other strings attached, stopping you from withdrawing.
When activating a wager-free cashback bonus, a loss limit is one of the conditions you may encounter, which means that the bonus will be inactive unless you lose a specified amount.
How to Claim a Cashback Bonus
Activating a casino offer should never be an issue and is usually done in a few simple steps:
- Claim the bonus by clicking on it – Easy peasy: see the cashback percentage and bonus amount and click on the bonus link.
- Read T&Cs applied – Apart from double-checking if the bonus fits you, this is the most important part of claiming a bonus.
- Check eligible games – Cashback bonuses are usually tied to certain types of games, so make sure you choose the right one.
Pros & Cons of Cashback Bonuses
Like any other casino promotion, cashback offers, too, have their pluses and minuses:
- High rewards for loyal players
- Low or no wagering requirements
- Reduces losses
- Gives you more time to play
- Fast withdrawal of real funds
- You have to lose before you win
- Cannot be claimed against losses incurred from other offers or while your withdrawal is pending
- Involves maximum amount you can withdraw or minimum amount you need to wager and/or lose
- Some casinos don’t offer them
Are Cashback Bonuses Legal?
Yes, cashback bonuses are perfectly legal as long as you’re playing at a reputable, licensed online casino. However, you should always check whether your country is listed among allowed countries at a particular casino and whether or not bonuses are allowed in your country altogether.
Maximize Your Cashback Returns
Online casinos tend to perceive cashback bonuses as part of a loyalty scheme, and the more you play, the bigger your refunds will be.