A cashback bonus is a promotion online casinos offer in which a rebate is given based on the amount of money wagered, allowing your bankroll to stretch much further than it would otherwise.
Online Casino Gems has the lowdown on the best casino cashback bonus offers! These popular bonuses are designed to help you hold onto your cash and stay in the game longer. But first, you need to learn the ins and outs of cashback offers. Keep reading to discover how to protect your bankroll and take home more of your winnings.
Everything you need to know about Cashback Bonuses
Cashback Bonus - Online Casino Gems
A cashback bonus is a promotional rebate online casinos return to players on wagering or losses they incur while playing on their platforms. They are akin to casino loyalty or comp points which pay back a fraction of each bet the player stakes on the casino. It is important to remember, however, that cashback bonuses return to the player only a percentage of every loss; the player will not get a 100% return on lost wagers.
Like most casino bonuses, cashback promotions differ greatly in quality, percentage, value, and even maximum limit. The amount of cash the customer gets back depends on an array of factors, including time limit, wagering requirements, how frequently cashback payments are made, and other restrictions the casino may have.
Choosing a high-quality, reliable online casino that offers a lucrative cashback bonus can make a huge difference in your bankroll. Getting back part of your losses allows you to redeem yourself and perhaps increase your odds of winning. How can you tell whether a cashback bonus is a good deal?
In this section, we have compiled a full list of the elements you should look for when shopping for a casino cashback bonus so you will be aware of some of the most exciting and rewarding ones. We hope this list helps you do more in-depth research and choose the right place for taking advantage of these bonuses.
Simply browse through our recommended list in this section and pick the cashback bonuses that are most attractive to you. Don’t forget to take a peek at the terms and conditions prior to registering with an online casino.
How do Cashback Bonuses Work?
Cashback offers are not limited to the online casino industry. Reward or rebate programs are popular across a broad spectrum of industries. Airline miles, shopping rebates, VIP rewards, loyalty cards – they are a dime a dozen and they all work in pretty much the same way.
A cashback program is run by a casino in such a way that your account is credited with a percentage of the wagering losses you have accrued during a specific period. This can be losses you made in a day, a week or a month. You will receive the bonus in real cash.
Cashback bonuses are usually calculated in two ways: (1) the real cash bonus can be determined based on the losses you incurred while playing during a predetermined time period; (2) the cashback can be based on the losses you made on a given deposit.
For instance, the casino can offer you a 30% cash back bonus on losses you accrued on all deposits you made in a month. Similarly, you can get 20% cashback on all losses you made on Mondays or within a week. More often than not, the cashback bonus is spread over a weekly period.
Cashback offers are designed to give you a partial reprieve or some sort of a do-over. After all, losing is part of the life of a gambler. With a good cashback bonus on your side, you can always get back to action even if you lose.
Types of Cashback Bonuses
Like all casino promotional offers, cashback bonuses come in all sizes and shapes, depending on the gambling software, the casino itself, and other brand-specific factors. As we’ve seen, cashback bonuses are typically calculated as a percentage of the total losses made during a given period.
Some casinos offer cashbacks as part of the welcome bonus package, often accompanied by a deposit match bonus and free spins. In this case, the cashback is calculated based on the losses made on the first deposit (or the first three deposits). So, for instance, if the promotion is a 50% cashback on your first deposit, if you lose $100, the casino will instantly credit your account with $50.
Cashback bonuses are awarded on your total accrued losses. Some cashback bonuses are offered during a promotions that run for a specific time frame, for instance, every month, every first week of the month, etc.
Some casino companies offer special promo days where all customers who make a deposit will get cash back on net losses incurred on a specific date. That’s why you will come across promotions like “Cashback Mondays,” “Terrific Fridays,” etc.
It’s crucial to note that some casinos offer a cashback on losses incurred while playing a given game or selected games. For example, a casino may offer a 25% cashback on Starburst. That means that you will get back a quarter of all losses you make while playing NetEnt’s wildly popular slot Starburst.
How to Claim Casino Cashback Bonuses
Casino cashback offers are perhaps the easiest and most hassle-free bonuses to claim and use. However, you must follow casino-provided terms and conditions if you want to make sure you reap all the benefits of the promotion.
As a rule of thumb, the first step to claiming a bonus is to pick a worthy casino. Start with thorough research: read the casino reviews, check out player ratings, and try out the casino itself in free play mode. Leave no stone unturned. Thankfully, we have performed some research for you, so you will get every nugget of information you need to know about the top cashback bonuses offered by the best online casinos.
Do I Need a Bonus Coupon/Code?
Whether you are required to supply a bonus code depends on the casino. Some online gambling sites will automatically credit your account with the cashback. There is always an electronic system that keeps track of your bonus-worthy losses. When the set time frame elapses, you will find cash in your account so you can again start playing your favorite casino games.
On rare occasions, the casino will require you to provide a bonus code or coupon to claim the cashback offer. In those cases you will have to get in touch with customer support via live chat, phone or email. In the easiest protocol, you may simply be required to enter the cashback bonus code at the time of depositing.
Are There Restrictions Tied to Cashback Bonuses?
(1) Time Limit
A casino cashback bonus can be awarded daily, weekly, monthly or after a certain number of days; there is always a time limit attached to the bonus. The cashback offer can be valid or good only for specific days.
Keeping this in mind, you need to read all about the exact time limit and other details of the cashback deal in the terms and conditions section. Once you understand every little detail, you can claim the bonus without any worry.
(2) No Wagering Requirement
That’s the beauty of cashback offers. Unless specified by the casino, almost all cashback bonuses come with no wagering requirements. This means that you can cash out or withdraw your winnings at any time. You can wager the bonus one time or several times, and you'll be eligible to withdraw your payouts.
(3) Applicable Games
As with any casino offer, a cashback bonus may be related to only one or a few games, which is why it pays to carefully read the terms and conditions. If you are a baccarat fanatic, be sure to determine if it falls under the games applicable to the cashback. Something worth noting here is that games with a low house edge – table games like craps or blackjack, for example – are not always part of a cashback deal.
(4) Cashout/Withdrawal Caps
Nearly all casino offers come with a small catch, which is almost always a cashout cap. The good thing is that there are no hard and fast rules when it comes to withdrawal limits. Some casinos don’t even attach a cap to their cashback bonuses.
In many cases, however, there will be a maximum withdrawal limit tied to the bonus, usually $200-$5000 per month. Just comb through the terms and conditions section to figure out the cashout cap.
Tips for Choosing a Great Cashback Bonus
Given that casinos have in place all kinds of restrictions and rules governing cashback offers, it’s prudent for you to take your time to perform due diligence and shop around. The last thing you want is to jump on any cashback program without knowing the ins and outs of the deal. Here are the most crucial points you need to note when picking the best casino cashback deal:
(a) Wagering Requirement is a Big No-no
Most cashback bonuses have no wagering condition. So, don’t commit yourself to a cashback offer that comes with a wagering requirement. If you choose to work with a casino that requires wagering on cashbacks, stick to offers with wagering lower than x3. Anything higher than that will beat the logic of earning a cashback bonus.
Having no wagering requirement means you can withdraw your winnings or even the actual rebate without having to play anymore if you do not want to do so. More importantly, unfettered betting that doesn’t involve any restrictions will help increase your likelihood of hitting a huge win.
(b) How Frequent is the Cashback Offered?
It goes without saying that there is no reason to register with an online casino that provides you with a one-off cashback offer. You want a place that will give you back part of your losses at least every week.
The point is to get familiar with the cashback bonus timeline prior to committing yourself. If you play frequently, then you need to go for a daily cashback bonus. A weekly cashback program may also be a good fit for your gambling style and needs. However, if your bets are far apart, you may be more comfortable with a conservative cashback bonus that’s paid out every month or so.
(c) Are There Any Restrictions to the Cashback Offer?
The fewer the limits to the cashback, the more likely you will come out a winner. Unfortunately, most cashback bonuses incorporate an array of limits. For example, a casino can offer you as high as 100% cashback but put a limit to the amount you can cash out. In light of that, you are better off with a low percentage cashback deal with no or minimal restrictions.
(d) Do You Need to Lose the Entire Deposit?
This is yet another important question you need to investigate when selecting the right cashback deal. It is not uncommon for a casino to only pay a cashback if you have lost the whole deposit amount. For instance, if you deposit $300 and lost only $250, the casino may not give you a rebate. Make certain that you are aware of such limitations, so there are no unwanted surprises along the way.
(e) It All Boils Down to the Casino You Choose
Not all online casinos offer the same cashback experience. In fact, a cashback bonus can vary from casino to casino, but will typically reward a portion of the customer’s losses for a given time.
While a cashback offers a win-win scenario for both the casino and players, it is important to choose the right site in which to deposit your hard-earned money. You want to do business with a reputable online casino that is happy to see you satisfied. Their cashback offers allow you to see some of the losses returned so you can stretch your bankroll at the casino online. It also makes sure you don’t leave with a bad experience.
Ultimately, a good casino site is secure, fair and has a wide selection of games. Talking of fairness, you should make a point of checking to see if the casino operates under a high-authority gambling license. The games should be subjected to routine testing for fair play and safety.
Cashback casino offers are an amazing opportunity for players to recoup a predetermined percentage of their losses. If you correctly employ cashback bonuses, they will provide a chance to increase your bankroll and cushion it against massive losses. Of course, bonuses can also add to the gambling experience, but you need to clearly understand all the terms and conditions associated with any offer before you claim it.
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