Online casinos often offer cashback rebates to their players to encourage them to continue gambling there or to reward them for their loyalty. These rebates are known by several terms, the most common being the casino cash back.
In this guide, we explain the cashback bonus meaning above all. Then, we tell you how to get money back from the casino and what casino promotions to play. Need a good cashback casino? We’ll tell you where to find it.
You should very carefully read the terms and conditions attached to the cash back offers. This is particularly true about the wagering requirements. In case any condition is not clear, you should contact the customer support and understand it before you avail of the offer.
How Does Cashback Work?
Players become eligible for casino cash backs when they perform certain tasks or fulfil certain requirements. The most common form of cash back is commonly referred to as a bonus. Punters claim it against a deposit at the online casino.
There are two ways to claim cash back casino through online promotions.
Some casinos automatically credit the bonus to the player’s account. The other way to get the cash back bonus is by claiming it by redeeming a given code.
Usually, bonuses against deposits cannot be cashed. After the player has wagered the deposit and bonus a specified number of times, they can cash only the original deposit and their winnings.
Cash backs are also offered against specific amounts wagered at the online casino and against losses incurred by the player. Usually, but not necessarily, the player can withdraw these cash backs without having to meet any wagering requirements.
Types of Online Casino Cash Back Offers
The best online casinos like to offer lucrative casino cash back bonuses to their players. Take a look at all the kinds of cashback casino deals.
You can get the welcome bonus on the first deposit as an encouragement to join the online casino. A common welcome bonus is 100% of the first deposit subject to a maximum of $200. This means that if the new player makes a deposit of up to $200 the online casino will offer a matching amount as bonus.
However, if the new player makes a deposit of more than $200, the online casino will restrict the bonus to $200. Online casinos are famous for offering welcome bonuses that are even 400% of the first deposit. Some online casinos offer a welcome bonus on several initial deposits. The amount of these stands in the region of $10,000.
Reload bonuses are cash back offers on player deposits after they availed of the welcome bonus. Operators structure them as a percentage of the deposit made. However, the percentage amounts are usually much lower. The formats vary from casino to casino. Some online casinos offer cash back on total deposits during the specified period subject to a maximum limit.
A typical offer would be 10% of the deposits made per month subject to a maximum of $200. If the player makes it deposit of $50, they will get cash back of $5. Once the total cashback casino for the month reaches $200, the player will stop getting any more cash back.
Some online casinos specify particular days of the week when you may avail the reload bonus. Also, you’ll notice that they have percentages and limits for each transaction. A typical offer would be 20% of the deposit made on Tuesdays subject to a maximum of $50.
Cash Back On Losses
Online casinos realize that players do not feel happy when they lose. They offer some comfort by returning a part of the losses as cash back. A typical offer would be 20% of the losses during the week subject to a maximum of $100.
Let us illustrate.
If the player ends up to winning that week, then they will not be entitled to any cash back. However, if they lost $400 then they will get cash back of $80. If they lose $600, then they will not get back 20% of $600, which is $120. He will get back only the maximum limit of $100. Sometimes online casinos specify that a player has to lose a minimum amount to avail cash back on losses.
Cash Back On Total Bets
This is one of the more exciting cash back offers. Here it does not matter whether the player wins or loses. They will get cash back on the total amount that they wagered in the specified period.
How Often Are Cashbacks Paid out?
Cash backs with individual deposits are usually paid out as soon as you make the deposit. Cash back on amounts wagered and on losses are specified over a period. The most common period is a week. For example, at VideoSlots.com the cashback pay every Friday with one week delay. Some online casinos specify the month as the period to calculate the net loss or amount wagered.
How to Find the Best Cash Back Offers for Online Casinos
A Casino Cash Back Offer is the case when the casino refunds you a percentage of your net losses over a period of time. That makes these casino bonuses profitable long-term. Typically, high-rollers are keen on these deals as they can deposit a lot. However, low-stake gamblers and casual players can also capitalize on cash backs.
Cashbacks are typically sticky bonusses, meaning you cannot withdraw them. Nonetheless, technically, you can cash them out but only after meeting the wagering requirements.
Normally, cashback deals are from 10% up to 25% (not to be mistaken with the playthrough). So, if you have a 25% cashback bonus up to $100, you can gain a cash back bonus of $400.
Claiming the best cashback bonus is a two-step procedure. Firstly, determine how much you’d like to gain with a cash back aka the cashback bonus size. Secondly, make sure the bonus applies to your game of choice, e.g. slots, Roulette, Blackjack, Poker, Dice etc.