Definition – What is Casino Cashback Bonus?
If you decide to play some casino games and start winning right off the bat, you will not be eligible for cashback, but that is not a problem since you already have some money in your pocket.
However, if you aren’t getting lucky, casino cashback will kick in.
Unlike a traditional bonus offer, a casino cashback bonus is based entirely on the amount of your net losses, so it gives you some cash when things aren’t going your way.
In the simplest of terms, this is the type of bonus that will give you back a percentage of your net losses over a certain period of time.
Exact details vary from one casino to another, both in terms of the maximum amount you can get back and cashback percentage, so you should always carefully read all the details before picking your casino.
How Does a Cashback Offer Work?
When you receive a casino’s cashback offer, you’ll get the exact details of that particular bonus.
In general, the casino will promise to cover a certain percentage of your losses up to a certain amount.
For example, you could be given a casino cashback offer, such as 35% up to $100 over the weekend.
This means you’ll get back 35% of all the losses incurred during that time period, but the maximum you can receive is $100. This is a very important detail to pay attention to as most cashback bonus offers come with a certain cap.
What Is the Difference Between a Welcome Bonus and a Cashback Offer?
Standard welcome bonuses and cashback bonuses are quite different, and they appeal to different types of players. This is important to understand, especially if a casino offers both types of bonuses, and you’re uncertain as to which one to choose.
Welcome bonuses will usually give you money upfront, and you can use this money to play with.
However, to cash it out, you’ll need to meet certain wagering requirements.
With a casino cashback, you won’t get any money ahead of time. Instead, you’ll play with your money, and if you happen to lose, the casino will give you a portion of your losses back.
Usually, any money you get this way won’t be tied to any wagering requirements, and you’ll be able to withdraw it without any restrictions.
Casino Cashback Bonus Explained in Detail
If you haven’t had a chance to take advantage of one of these offers before, it can still feel a bit confusing. So, here’s a detailed breakdown of how a casino cashback works.
For example, a casino offers you a cashback of 40% up to $200 for a full week, and you participate in this promotion.
- You deposit $400 on Monday and lose
- On Thursday, you deposit another $150 and lose
- You give it one last try and deposit $200, losing $100 and withdrawing $100
Your total loss for the week is thus $400 + $150 + $100 = $650. Your cashback offer stipulates 40% of your losses for the week, which equates to $260. However, since the deal is capped at $200, you’ll receive $200.
Of course, if you get lucky and win during this time, you will not be getting any cashback, but it’s even better for you.
Maximize Your Cashback Returns
To make the most of a casino cashback offer, you need to pay attention to a few details such as the maximum amount you can get back, the duration of the offer, and if there are any game restrictions.The last bit is very important because some bonuses are given only for slots or for table games. So if you only play roulette, you won’t have much use for a slots’ cashback bonus.
Pay attention to the maximum amount, and once you hit the cap, you’re best off stopping. Find a different casino and get a different bonus there to improve your returns.
Advantages of Cashback Casino Bonuses vs. Top up Bonuses
While these cashback bonuses may not be everyone’s cup of tea, they definitely have some advantages over more traditional top up bonuses.
The biggest advantage is the fact there are no wagering requirements whatsoever. Whatever money you get back is yours to do with as you like. Top up bonuses don’t give you this kind of freedom, which can sometimes be frustrating.
Another important upside is that you don’t have to deposit a big bulk sum to take full advantage of these offers. Since your accumulated losses are counted for a certain period, you can do several smaller deposits and better control your bankroll.
What is the Percentage Returned by Cashback?
Just like other bonuses and promotions, these offers come in all shapes and sizes. A casino cashback can return anything from just 5% or 10% all the way up to 100%. It’s up to you to find the best offers you can and take advantage of them.
What’s often more important than the cashback percentage is the bonus cap.
For example, you could get an offer of 100% but just up to $10, which works well if you’re a small stakes player or just want to try a new game. For someone used to play higher stakes, a much better deal would be something like 30% up to $250 because it gives them an amount worth their time.
Frequently Asked Questions
How will I earn cashback?
You will earn cashback by simply playing your favorite casino games. The casino will keep track of your losses, and the amount you get back will be calculated as the percentage of those losses. There is nothing special you need to do.
Is cashback paid out automatically?
Yes, in most cases. The operator will usually pay the money into your account after the time period has expired, i.e., at the end of the day, week, or month, depending on their offer.
A cashback is almost always paid straight into your real money balance and ready for you to use immediately.
How do I claim casino cashback?
There is no single answer to this question. When a casino wants to offer you a cashback bonus, they’ll let you know special conditions if there is any, or you’ll find the information about the promotion on their site.
You’ll need to follow the steps explained in the promotion to get involved, but most of the time, you will only need to play during the promotion period.
Are there wagering requirements?
No, usually there are no wagering requirements attached to a casino cashback.
Unlike traditional bonuses that are paid ahead of time, these are paid only after the fact. Since you had already played with the money, the cashback usually doesn’t have any restrictions tied to it.
Is cashback better than a traditional bonus?
This depends on your particular situation, bankroll, and style of play, so there is no strict answer.
For some players, especially those used to higher stakes, cashback is definitely a better option than a traditional bonus because there are no wagering requirements, and it can help offset losses. In contrast, players looking to try new games and have some fun might get more value from traditional bonuses.
How do cashback bonuses work?
Cashback bonuses are based on your losses over a certain period, and the casino will guarantee to return a certain percentage of your losses during that time.
Once that period is over, if you end up losing money, you’ll receive a percentage of your losses back.
How to find the best casino cashback bonus?
There are different ways you can go about finding the best casino cashback offers. Keep an eye out for any promotional emails from casinos and check out their sites regularly.
Websites such as this one also bring regular updates about the best cashback offers out there to save you some time and effort.