How does a cashback bonus work?
It's not only casinos that offer cashback bonuses. It rewards schemes like these have been around within the business industry for years. Think loyalty cards, air miles, reward schemes, you name it. The simplicity of a cashback bonus is what makes it so attractive. The person spends and amount, and will find a percentage of their money returned. Within online casino, this is especially sought after, since it provides a sure-fire and steady regular bonus to top up your bankroll.
A cashback online casino bonus is where the casino you are playing at offers you a percentage of your losses back in real cash. This real cash bonus can either be calculated on the losses that take place during a predefined period of time or on the losses made on specific deposits. Usually the cashback bonuses are calculated over a weekly period.
We’ve all wanted a do-over at some point in our lives and playing at a cashback-friendly online casino gives you the chance to do just that. You get to put those losses back in your hand as cash and then make the decision to either try win big on a new game or try again on old favourites.
How do I claim a cashback bonus?
The cashback casino bonus is one of the easiest casino bonuses to claim, you can do so simply by playing and losing. While nobody likes losing during on a bet, this type of casino bonus is here to soften the blow a little. The cashback bonus is calculated up to a certain percentage, usually between 10% and 20%, meaning it’s based on their aggregated losses.
The cashback bonus will be deposited automatically into your user account at the time specified by the casino you’re playing at. The amount depends on how much you’ve lost within that time period and what the reward scheme of the casino is based on. Some casinos only offer cashback to VIP members of a certain rank, since they have already funded their account enough to be eligible for such an offer. This means that cashback bonuses are especially attractive for high rollers.
Why should you claim a cashback casino bonus?
Whether or not you claim any type of casino bonus is entirely up to you. Every player will have an option to opt in or out of a bonus, should they feel like it wouldn’t suit their style of playing. It’s usually the high rollers who opt-in for these types of offers, since they can afford to spend a bit more than regular players, meaning they will get the most out of bonuses like these. After all, the more you wager, the more money you will see in return.
Another reason to accept a cashback bonus is so that is softens the blow of losing out on a couple of unfortunate bets. While playing slot machines are completely random, cashback can also be acquired through live dealer games such as poker and blackjack. If you lost during a particularly unlucky hand, having a cashback bonus as backup means you can try again next week to beat the odds.
Are there any wagering requirements?
No, in most instances there are no wagering requirements to fulfill when accepting a cashback bonus. When looking at it from a logical perspective, the player has already fulfilled the wagering requirements by losing the money during their gameplay. It would be unfair to put wagering requirements on any bonus funds the casino grants the player in return for their losses.
Should you come across an online casino that does charge wagering requirements on a cashback offer, you’re most likely in for a bad time altogether. Always check if you the casino you wish to play at is in possession of a valid licence by either the MGA, UKGC, Kahnawake Gambling Commission, Government of Curacao or Government of Gibraltar. If not, it might be that you have come across a fraudulent online casino and you cannot be certain if you will receive the cashback promised to you.
Welcome Bonus vs. Cashback Bonus
Most modern online casinos offer both a multi-tiered welcome bonus with a smaller cashback on the side. Casinos like Rizk Casino and Playzee Casino have such offers. Then there are casinos that fully rely on reeling in their customers with a cashback offer alone, like Bajungo Casino, No Bonus Casino and No Account Casino.
You are of course free to accept both the welcome package and the cashback offer (should a casino provide both). But keep in mind that deposit bonuses come with their respective wagering requirements that you will need to fulfill before you can cash out any winnings. This is opposed to the zero wagering requirements of the cashback offer. However, keep in mind that you will need to lose quite some money in order to make a cashback offer worth your while, usually around $/€/£100. This means that with a cashback offer of, let’s say, 20% you will be accredited $/€/£20 back into your account, meaning you’ve only lost $/€/£80 that week.
Be mindful when opting for cashback bonuses
Please be mindful of your spending habits, especially when opting for a cashback bonuses that allows you to see a return every single week. While money may be coming back in, it is always far less than what you have spend. After all, gambling should be fun and used for recreational purposes only, not as a means of making a living. If you are worried about your gambling behaviour, please consult our comprehensive responsible gambling guide.