What Are Cashback Bonuses?
A cashback bonus is a bonus that lets you take back a portion of your losses incurred on a specific game or a set of games over a specific period. In essence, cashback bonuses are a way for casinos to incentivise members to play more and reward them for their loyalty.
Cashback bonuses can be either ongoing offers or time-limited offers, but they all work the same either way. Say you activate a welcome bonus with a 20% cashback; once you have met the wagering requirements, the casino will put 20% of your net losses back to your wallet allowing you to play some more without the need to make a fresh deposit.
Key Takeaways
- Cashback programs refund a specific percentage (typically between 5% and 25%) of your gaming losses over a set period (daily, weekly, or monthly), softening the blow of an unlucky streak.
- Most offers calculate your return based on net losses rather than your total amount wagered.
- The best deals return real cash you can withdraw immediately. Others return it as bonus money with a light playthrough requirement before withdrawal.
- While many casinos credit cashback automatically to your account at the end of the cycle, some require you to manually claim it via the promotions page or opt into a specific loyalty program first.
Types of Cashback Bonuses
Cashback bonuses come in different shapes and sizes. Here’s a handy guide through different cashback offers available at online casinos.
On All Loses
When you activate a cashback bonus on all losses, that’s exactly what you get: a percentage of your net losses, regardless of the games you played. These offers are not that common, as cashback bonuses are most frequently tied to specific games.
Losing Bets or Spins
Activating a cashback bonus on losing bets or spins means that the casino will collect the information about all the spins or bets you have made and lost and compensate a percentage of that amount at the end of the cashback period.
On Deposits
The difference with cashback bonuses on deposit is that the casino gives you back a percentage of the initial deposited amount, regardless of your net losses. In other words: if you activate a 20% cashback bonus and deposit €100, the casino will give you €20 at the end of the cashback period.
Daily Cashback Bonus
Daily cashback bonuses are the most common of all; when activating a daily cashback offer, your net losses are incurred at the end of the day, giving you a certain period to spend them (so you don’t lose them).
The amount of cashback, of course, is determined by the money you spend. Playing with high stakes will make your cashback higher, and vice versa.
Weekly Cashback Bonus
Weekly cashback bonuses cover a period of seven days, and after the week is up, and you have met the wagering requirements, the casino will do you good and transfer a portion of the money you lost to your account.
Monthly Cashback Bonus
Monthly cashback bonuses cover a whole month; once the whole month runs out, you will be given a predetermined percentage of your net losses. This can amount to relatively high profits, especially if you play often. Also, it lets you forget that you’re earning a bonus, making your excitement even greater at the end of the month!
VIP Cashback
VIP schemes are among the best incentives offered by online casinos to players. When loyal members become VIPs, they earn certain benefits. As a rule of thumb, one of the benefits offered to VIP members is increased cashback offers.
Reaching a certain tier in your favourite casino’s VIP scheme might mean that you’ll be eligible for a cashback as high as up to 50%, so keep climbing that ladder!
Wager Free
Wager free cashback bonus allows you to take back some of the money 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, the casino will probably impose a loss limit, asking you to bet, and lose, a certain amount before you can have a percentage of those losses reimbursed.
How to Get the Best Cashback Bonus?
Singling out a great cashback offer is crucial if you want to make the most of your money or your losses, for that matter. Here are some essential aspects to consider:
- The cashback percentage - This one’s simple and works according to the good old “the higher, the better” rule; most times, you will see casinos offering up to 25% cashback unless you’re a VIP member, in which case, the percentages go as high up as 50%.
- The bonus amount - The famous “up to” part of the bonus. This figure should also be on the higher side, but beware: aiming for the highest possible bonus amount means you will have to play more to lose more, so make sure your bankroll can handle it.
- Wagering requirements - Playthrough requirements for cashback bonuses go as low as 1x the bonus amount, so perhaps you should try looking for offers that have the lowest possible wagering requirements.
- Promotion duration - Keep in mind that cashback offers tend to be cyclical; many casinos offer daily, weekly, and monthly cashback bonuses. If you activate a monthly offer, you will have to wait for the whole month to pass before getting any refund.
Cashback Bonus Terms and Conditions
Like the rest of their bonus cousins, cashback bonuses come attached with elaborate Terms and Conditions. We hate to be repetitive, but this truly is the most crucial aspect of all casino bonuses, cashback bonuses included.
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 awry. So don't skip them, and we will remind you to pore over them every time.
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, preventing you from taking some free money and ditching the casino.
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 voided until you lose a specific, predetermined amount.
How to Claim a Cashback Bonus
Claiming a casino bonus should never be an issue and is usually done in a few simple steps. Here they are:
- Redeem the bonus by clicking on it - Easy peasy: see the cashback percentage and bonus amount and click on the bonus link.
- Read and accept the T&Cs - 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. For example, if you activate a bonus for live casino, don’t bother spinning slots; they won’t count towards the bonus.
- Enjoy the bonus - This is the part where you start playing and accumulating that hard-earned refund.
Pros & Cons of Cashback Bonuses
Like any other casino bonus, cashback offers, too, have their upsides and downsides. Let’s see what they are:
Pros:
- Rewards loyal players
- Low or no wagering requirements
- Reduces losses
- Lets you play more
- Fast withdrawal of real cash
Cons:
- 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.
For instance, certain jurisdictions prevent players from benefiting from casino promotions. That is why it is essential to be up to date with local laws before activating a bonus and read the terms and conditions of a particular bonus and casino.
Maximise 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. Over time, as you progress through a VIP programme, you will unlock more substantial cashback offers and be able to maximise your returns while at the same time reducing your losses.
Also, the casino may start offering you tailored bonuses with looser wagering requirements, giving you more leeway as a token of gratitude for your loyalty.
