All-Comprehensive Guide on Cashback Bonuses
By reading this article, you will learn more detail about cashback bonuses such as:
It is no secret that online casinos heavily focus on rewarding their players for loyalty by issuing enticing bonus offers and promotions. These bonuses are, in fact, one of the major strategies that players use to attract new customers and retain the existing ones.
Online casinos are particularly fond of using the so-called cashback bonuses. Cashback casino bonuses represent a certain percentage of the players’ net losses that a casino returns to players and help them see that even a casino cloud can have a silver lining.
Today, casinos have a plethora of other bonuses as well, and it is not easy to choose one best suited for you. Most casinos offer deposit and no deposit welcome bonuses as a way of attracting potential high rollers willing to spend big. However, the cashback bonuses are truly the ones high rollers already playing at a particular casino love to have at their disposal.
With the cashback bonus that pays back at least a part of your losses, you will feel appreciated and willing to keep on playing at a casino.
In this extensive and all-encompassing guide, you will learn more about what the cashback bonuses are really about, are they worth the trouble, how to claim them, and what limitations are implied by these bonuses.
What Exactly Are Cashback Bonuses?
Cashback bonuses are bonus schemes where players are rewarded a portion of the net losses they have accumulated over time while playing casino games. The cashback bonus is calculated by a specific percentage which usually hovers between 5% and 25% of the losses. You can see cashback bonuses as a sort of a refund that casino credits to your account and this refund comes in the form of either bonus money or real cash.
This type of bonus program has not been exclusively designed for online casinos, but they have probably benefited the most from it. Land-based casinos also have these cashback promotions that will reward players with complimentary drinks, free chips, free valet services, or other perks, depending on how big their losses were in that playing session.
Retailers from all branches employ this bonus strategy to show their loyalty is appreciated. For example, stores will give out special loyalty cards where a percentage of each purchase is recorded and which can later be used as store credit.
Online casino cashback bonuses work in a similar fashion. A casino with this type of promotion will offer you a percentage of your losses back in real cash or bonus money. In all honesty, players are not the only ones who stand to gain from this bonus. By giving out cashback bonuses and relinquishing a portion of the profits, online casinos keep the loyal customers happy and thus discourage them from going to other online casinos. The competition among online casinos is fierce and every customer counts.
These cashback bonuses are paid out according to the losses players have accumulated after a certain period of time, categorizing cashback bonuses into daily, weekly, or monthly cashback bonuses. Usually, they take the form of recurring bonuses, which means they happen every once in a while.
Why Bother With the Cashback Bonuses?
As a refund of a percentage of players’ net losses over a period of time, online casino players are particularly enthusiastic about this kind of bonuses, as it allows them to get financially compensated for the losses suffered. Of course, players are not forced to opt for this bonus, as it might not suit their style of play. However, most players do opt for it, especially high-rollers.
High-rollers are the ones with deeper pockets, which means they frequently bet larger sums and inevitably lose more, so no wonder why the proposition of getting a percentage of those bets back appeals to them the most. Although the fact that the more you bet the more money you can get from the cashback bonuses is undeniable, the players who bet with more prudency can also benefit from them and use the cash to try to beat the odds and turn the luck around.
Moreover, as cashback bonuses usually appear in the form of real cash automatically credited to your account, you will get real money to use on your favorite classes. Another form the cashback bonuses assume is the form of bonus cash that normally has low or no wagering requirements at all, which might lead to some considerable real cash wins.
Cashback Bonuses Explained — How It All Works?
The types and forms of cashback bonuses differ depending on the casino, but the bottom line is that you will get some money back to your account either in the form of real cash or bonus cash. They are also quite convenient, as they are fairly simple to use and even newbies in the world of online gaming can take full advantage of it.
The main part of a cashback bonus is that it is calculated considering the losses that occurred by the predetermined period according to the defined bonus policies unique to each casino. The most frequently implied period is either a week or a month. The amount you can expect to get from the bonus is somewhere between 5% and 25%, depending on how generous your casino of choice is. It is also worth noting that cashback bonuses have additional requirements and restrictions that we are going to discuss in detail in subsequent paragraphs.
Let’s take a closer look at the modus operandi of cashback bonuses by looking at some examples of the bonus itself.
Let’s say a casino operator offers a 10% cashback bonus on all losses that occur specifically on the Netent’s slot “Starburst” during a week. You were playing “Starburst” and the reels hadn’t been kind to you, resulting in €100 losses. The reimbursement you can expect from the casino in this case scenario is €10.
You will usually be able to use the cashback bonus as real money on all games from the casino, but sometimes the bonus is only available for a particular game, like “Starburst” by NetEnt, “Book of Dead” by Play’N GO or any other slot that’s a part of the bonus scheme.
The cashback bonuses have strict requirements as to how big of a bonus players can receive and on which games. For example, it’s not unusual to see a cashback bonus like this: the bonus offered is 25% of all losses on live casino games up to €50. This limitation implies that, if you wagered €500 on live roulette, you won’t receive €125 in bonus funds but only €50, as it is the upper limit from the bonus.
Needless to say that, if players make it through the playing session with an improved bankroll, then any of the immediate losses they had during the game won’t be reimbursed.
Cashback Bonuses Terms and Conditions: The Wagering Requirements and Other Limitations
There probably isn’t a casino player who claimed at least one casino bonus that hasn’t heard of wagering requirements. Wagering requirements are one of the main aspects of all casino bonuses and represent a number of times a player needs to wager the amount of the bonus received before being able to withdraw the winnings made using the bonus funds.
Let’s illustrate it further through an example. If your casino of choice offers a 100% deposit match welcome deposit bonus and you deposit €25, you will get another €25 in bonus funds. The casino’s wagering requirement is set at 50x times the amount of the bonus.
Now, casinos usually require you to wager the real money you deposited before being able to use the bonus funds. When you start using the bonus funds on selected games, as you will usually be required to, you will have to wager the amount of the bonus 50x times before making any withdrawal requests, in this case €1,250.
Another important caveat to bear in mind is that you don’t have to make a profit of €1,250, just place enough bets worth €1,250. Also, not all games count towards meeting the requirements of the same degree. Namely, bets you make on slot games count 100% towards meeting the wagering requirements, while bets you place on table games count around 2% to 10%.
The wagering requirements are one of the unwanted side effects of the bonus infusion and remedy but are usually an indelible part. If you make a withdrawal request before you meet the requirements, you stand in danger of losing the bonus funds or free spins.
Luckily, when cashback bonuses are concerned, the wagering requirements are quite rare. Given the fact that you need to wager a certain amount and lose it before getting the cashback bonus, casinos deem it as a sign of the completion of the wagering requirements. However, some casinos still might insist on wagering requirements that would be in the range or 1x to 10x times, but most of them require you to play through the bonus amount once.
Other Cashback Bonus T&Cs
It is usual that, apart from the wagering requirements, casino bonuses have other conditions and rules players need to abide by before using the bonus to its fullest extent, like how much you need to deposit to claim the welcome bonus and therefore cashback bonuses.
All these rules are explained in detail in the bonus’ terms and conditions page you should read carefully before opting for any casino bonus.
In the case of a cashback bonus, the wagering requirements might not play an important role, but time limitations do. All cashback bonuses have an indicated validity period during which you can use the cashback bonus funds. If you do not use them in the appointed time, the funds will become void.
Even more important time limitation related to the cashback bonus is the one during which your losses count for the cashback bonus in the first place. Cashback bonuses usually pay back a percentage of the players’ losses that happen over a specified week or month.
Another important characteristic of the cashback bonuses you can see described in the terms and conditions is the one that refers to the specific games you can use the cashback funds on. Namely, some casinos will only allow you to use the cashback funds only on specific slot games, like NetEnt’s Gonzo’s Quest and Starburst. These limitations usually apply when cashback bonuses are paid as bonus funds and not real money. If the cashback bonus is paid as real money, which is usually the case, you can use the funds on all types of casino games.
Make sure to check out whether the bonus is available in your location. Some casinos impose geographical restrictions and won’t allow players from some countries to claim the cashback bonus due to some judicial restrictions related to online gambling.
Cashback Bonuses as a Part of a Welcome Bonus Package
Sometimes, casino bonuses can be a part of welcome casino bonuses offered to newly-registered players as an incentive for opening their account at the casino and making a first deposit. The welcome bonus promos usually involve new players making the first deposit through one of the indicated payment methods and inserting a specialized bonus code needed to activate the promotion. Casinos will often match players’ deposits in bonus funds and thus help them keep them playing once they have spent the deposited funds.
Apart from the bonus funds, casinos might treat players with additional benefits like free spins, reload bonuses, and cashback bonuses.
The cashback bonuses received through the welcome package function in the exact same way as when used as standalone bonuses. A portion of the bonus cash you receive from the welcome package is refunded to your gaming account.
Note that, before you can get the cashback bonus, you must first use up a full welcome deposit bonus. Also, to activate the welcome bonus, there is usually a minimum deposit requirement that might also affect how much you get from the cashback bonus, not just the welcome deposit bonus. The more you deposit in your first deposit, the bigger the deposit bonus and cashback percentage you can receive.
Cashback Bonuses vs. Deposit Bonuses
Cashback bonuses are indeed unique for a lot of players, especially high rollers, but they only become available to players once they have wagered and lost their money. More frequently used bonuses in online casinos are deposit bonuses, so let’s see which type of casino bonuses emerges victorious in this clash.
First and foremost, deposit bonuses are part of welcome promotions and reload bonuses where players are awarded for their deposits. Normally, these deposit bonuses match the amount of deposit in bonus funds and might even add some free spins on selected slots. You could argue that deposit bonuses bring more variety since they might offer both deposit funds and free spins.
However, the wagering requirements related to the deposit match bonus are very difficult to meet. The industry wagering requirement average is 30x times the amount of the bonus while, on the other hand, cashback bonuses have no wagering requirements. Even if they did, the wagering requirement would rarely be over 1x, making it considerably easier to meet than deposit match bonuses.
Considering reload bonuses, we could say that they function in pretty much the same way as deposit welcome bonuses, only these bonuses are at disposal of all existing players who can get additional bonus funds for the deposits they make. However, all the same limitations that apply to deposit match welcome bonuses apply here as well.
Cashback Bonuses vs. No Deposit Bonuses
No deposit bonuses are another frequently used type of casino bonuses used as a part of the welcome offer. Namely, with the no deposit bonus, as its name suggests, the newly-registered players will receive some funds from the casino as a welcome gift without having to make any prior deposits.
The no deposit funds are most commonly presented in the form of free spins players can use on designated slot games. The number of free spins is rarely bigger than 10 and the value of each spin is usually set between €0.10 and €0.50, which makes it impossible to win any larger sums. Also, the free spins will also have wagering requirements as any other type of deposit bonus which you need to meet before making any withdrawal requests.
If the no deposit bonus is in the form of bonus cash, the same or even stricter wagering requirements apply, making it impossible to win anything out of the bonus. Of course, you will get a nice chance to test the games and their payouts, but all players want to know if they can win real money out of the bonus, and with such heavy wagering restrictions, that is not easy.
With the cashback bonus, on the other hand, you won’t see such limitations as with no deposit free spins and bonus cash. The cashback bonus is real cash you can use on all types of games you want and you can set the betting limits on your own accord, and not the ones directed by the bonus.
A Step by Step Guide on How to Claim Your Share of the Cashback Bonus
Getting hold of any casino bonus is a relatively easy and straightforward process completed in a few simple steps. The following paragraphs will tell you how you can claim your slice of the cashback bonus cake.
Step 1: Choose Online Casino
Choosing the right online casino is a fundamental thing for all casino players, especially those who pay a lot of attention to casino bonuses and the options they offer. Since there are so many online casinos out there, and almost all of them offer bonuses, there are many things to consider when choosing a casino.
You should pay attention to whether or not the casino is licensed. Also, the bonuses have strict terms and conditions of use, so you need to check those as well before registering and claiming the bonus.
Moreover, there is the issue of security and how many payment options they offer, among other things. Only by scrutinizing the casino itself and reading detailed casino reviews can you get enough information to make the right decision.
Step 2: Sign Up
After you have scrutinized all aspects of a casino and its bonuses, you will need to register a playing account. Joining an online casino involves providing personal info like name, country, email, phone number, and others as a way of confirming your identity. After you insert all the info, the casino will send you a confirmation letter and you will be able to play.
Step 3: Claim the Cashback Bonus
After you complete the registration process, you will be able to take advantage of all welcome bonus promotions, as well as the cashback bonus. If the cashback bonus is a part of the welcome promotion, you will probably need to make a deposit first in order to claim the entire bonus package. Most casinos will ask you to opt for the bonus by ticking the required box which automatically tells the casino you want the bonus.
However, some casinos require you to contact the customer support team to indicate you want to claim the cashback or any other bonus.
Moreover, some cashback bonuses involve a unique bonus code players need to insert before the bonus funds become available to them. The bonus codes are a series of letters and numbers issued by casinos on their home pages or specified on numerous review sites on the web.
Step 4: Play Your Favorite Casino Games
All cashback bonuses imply that players lose some money before a part of that money is returned to them. With that in mind, you will need to start playing casino games and, unfortunately, lose some before you can claim the cashback bonus. It’s crucial at this point to check out the bonus’ terms and conditions and see if all games from the casino are a part of the cashback bonus schemes. If not, you will need to play only the indicated slots or other games and lose some money on them over a period of time before getting the cashback bonus.
Step 5: Use the Cashback Bonus and Cash Out
Once you have played your favorite casino games and found out the stars simply weren’t aligned for you today, you will see that not all is lost, as the cashback bonus will be on its way to your account. A portion of the losses will be automatically sent to your account so that you can use that bonus to turn your luck around and hopefully make some profit. The profit you make from the cashback bonuses is usually not laden with wagering requirements or other restrictions so you can cash them out freely. Depending on your payment method of choice, the winnings can become available to you in a matter of minutes or days.
How to Select the Best Cashback Bonus
As there are so many types of bonuses and promotions, it is becoming increasingly difficult to choose the best one, and the situation is no different with the cashback bonuses. The cashback bonuses come with an array of terms and conditions and all sorts of limitations you can see only if you carefully read the T&C’s. Apart from browsing around different sites and their promotion pages, we also advise you to look more closely into these aspects of the cashback bonuses:
Focus on Bonus Frequency
Cashback bonuses are time-limited bonuses, which means only a percentage of the losses is going to be paid for the loss accumulated during the indicated period. It is important to know if the cashback bonuses are daily, weekly, or monthly so that you can act accordingly. Most players love to get daily rebates, while some still prefer their cashback bonuses pay out on a weekly or monthly level so that the bonus amount can be a bit larger.
How Big Is the Cashback Bonus?
The size of the cashback bonus could be the discerning factor when the selection of the best cashback bonus is in question. Of course, the higher the bonus percentage, the more you can win. The majority of casinos offer cashback bonuses valued at anywhere between 5% and 25% of the total losses.
You know that you can’t expect a casino to offer a 100% refund on the losses, nor can you hope to have cashback bonuses without limits on how much the casino is actually willing to pay back. If the cashback bonus is a 10% bonus up to €50 and you wager and lose €1000, you won’t be getting a penny more than €50, even though the 10% bonus would otherwise be €100.
Mind the Wagering Requirements
The wagering requirements are an indelible part of almost all casino bonuses, and cashback bonuses are not immune to them either. However, the good thing is that most cashback bonuses are wager-free, which means you can use the cashback funds as real money and withdraw them. However, in case there are some wagering requirements, they are usually between 1x and 10x. All in all, the best option for you would be to opt for casinos and cashback bonuses with any wagering requirements and thus get the best of the refund.
Check out the Games Limitations
As we mentioned earlier, the cashback bonuses impose additional limitations rather than just the wagering requirements and the amount of the bonus. Namely, not all games pertain to the cashback bonus package, and you can’t hope to get a refund on the losses conceded on these games. However, the good thing about the cashback bonuses is that the most popular slots, like five-reel slot Starburst, Gonzo’s Quest, Bonanza, and other top gaming choices for most players, are included in the cashback bonus scheme. Unfortunately, live casino and table games are rarely seen as a part of promotions, so if you prefer these games, you will be disappointed.
What to Look for in Cashback Online Casinos
Although a cashback bonus is a frequent bonus and a lot of online casinos offer it, you should know that not all of them are worthy of registration. Pay attention to the following characteristics when opting for the cashback online casinos.
Security and Licensing
Safety is of paramount importance to not only online casino users but all internet users as well. You would want to know that your information and banking data are safe at all times while playing in an online casino.
The best way to confirm you are safe in an online casino is by looking at its gaming licenses. Online casinos have to go thorough examinations of all segments of their business, from the fairness of games to security of personal data, making sure no third party intrusion is allowed.
If an online casino holds licenses from the reputable licensing jurisdictions such as the United Kingdom Gambling Commission, Alderney Gambling Control Commission, and Malta Gaming Authority, you can rest assured knowing you are playing at a fair and secure casino.
Moreover, if the casino’s software has been tested and audited by independent software auditing agencies such as eCOGRA and iTechLabs, you will know for certain that their RNG-powered games indeed have random outcomes.
The gaming portfolio is one of the most important segments of any online casino. The more games a casino has the better — that’s obvious. However, it is also very important to consider who the software provider companies the games come from are. If a casino holds games from the gaming powerhouses such as NetEnt, Microgaming, Play’N GO, Evolution Gaming, and others, you can expect a diverse gaming portfolio and ultimately more fun.
Usually, video slots comprise the biggest portion of the gaming catalog, but table casino games and live casino games are also important categories for most players. Since cashback bonuses are most frequently attached to slots, it would be best to choose a casino with more of these games.
The More Casino Bonuses the Better
Cashback bonuses might be the focal point for many online casino “goers,” but this doesn’t mean that other bonuses should be overlooked when choosing the best casino. The best online casino, when bonuses are concerned, is the one that offers bonus galore, with all kinds of deposit and no deposit bonuses, as well as cashback, VIP, and other promotions. Cashback bonuses are great, but when combined with other welcome promotions, they might be worth even more.
Also, casinos that have VIP loyalty packages for players who play the most tend to have a variety of cashback bonuses as well. When players ascend the VIP ladder, their perks and bonuses increase incrementally, and they would normally get bigger cashback bonuses than the players who have just signed up. The more you play, the faster you will collect the bonus points needed to climb the VIP ladder and get hold of more significant refunds.
Being able to move the funds to and from a casino quickly and safely is crucial. Casinos offer a variety of banking methods players can use, ranging from credit/debit cards, e-wallets, bank transfers, prepaid cards, cheques, and even cryptocurrencies.
The more options you have at your disposal the better, but that’s not all of it. You should also pay attention to pending times for both deposits and withdrawals. While the deposits are usually instant, the withdrawals can take a while, so make sure to choose a casino and payment method with the fastest withdrawals, as you would want to have the money from the cashback bonus as soon as possible.
Also, there are various limitations on how much you can deposit and withdraw in a single transaction. Some of these limits apply directly to payment methods, and some are just imposed by the casino itself, so you need to pay attention to that as well.
Customer Support Service
In case you need any help from the casino or you have any questions regarding the cashback bonuses, you should communicate your concerns with the customer support team. The customer support team is usually reachable via many different channels of communication, such as Live Chat, e-mail, phone, or even telefax. The things to look for in a customer support team are working hours, the variety of languages the agents speak, and the ways in which you can reach them. Casinos that offer a 24/7 service in multiple languages and channels of communication are usually the ones that care about the satisfaction of their players the most.
Cashback bonuses are one of the most popular types of bonuses among casino players. No one wants to lose when playing casino games, but losses are virtually inevitable and cashback bonuses that refund a part of those losses are a perfect way to cushion the blow. You can quickly forget about the sting of loss if 25% of those losses are automatically added to your playing account.
Cashback bonuses usually don’t require bonus codes and have far more lenient terms and conditions than any other type of casino bonus, especially considering the wagering requirements. Namely, cashback bonuses don’t normally have any wagering requirements attached to them and you can use the cashback bonus funds as real cash and withdraw it as you would any of your winnings.
Make sure to carefully consider all that we have said here about how to recognize the best cashback bonus offer and which online casino sites are the best venues for your online casino adventure.