What Are Cashback Bonuses?
A cashback bonus is a new kind of casino incentive that's becoming more and more popular. It's a percentage-based promotion that online casinos offer to players over a specific category of games within a specific timeframe. This kind of bonus is the ideal reward for players as it's a sum of cash that can extend your playtime.
This special kind of existing player casino bonus is available to all players and is typically set at 5% to 20% of all losses you suffer. On this page, we explain what a cashback offer is, how it works, and how to claim one.
What's a Cashback Promotion?
This refers to the casino cash that you receive whenever you suffer a loss as you play. It's the casino's way of letting you know that it also cares for you. The betting site you play at wants you to keep playing for longer and therefore have a greater chance of winning.
More often than not, this is worked out as a percentage of your net losses during your play. As you've already bet your money, you have nothing to lose. If you're unlucky to lose your entire real money deposit, then the gambling site will get you back a fraction of your losses.
It's calculated on a daily, weekly, or even monthly basis and can range from 5%-20%, depending on the casino's promotion policies. It's usually offered on specific games and you only need to have wagered real cash on these games.
The cashback offer is normally awarded as points that you can redeem later, or as cash that's credited to your gaming account. Be sure to read and understand this offer's terms and conditions before you claim it.
Cashback Bonuses Vs. Regular Casino Offers
Cashback bonuses are often given to new casino players. They're enticed to deposit cash and play with it. These offers are different from the standard casino promotions because the money is directly credited to your account. When it comes to regular bonuses, you must send over a withdrawal request and it normally takes time to be processed.
How Do Cashback Bonuses Work?
Most online betting sites offer cashback bonus promos to existing players, unlike welcome offers, which are given to players when they're signing up. These offers are meant for players that are already making bets.
Most online casinos work out the player's activity at the site. This means the casino will consider the number of wagers you place within a specific period. This could be over a month, over a week, or over a weekend. The only way to enjoy a cashback promotion is to actively place wagers.
The betting site will then calculate how much you should get back. The promotion depends on how much you've lost while playing casino games and is usually calculated as a percentage, typically 5% to 20% of your losses. The amount is then credited to your gaming account as cashback.
Although the total cashback you receive may not seem like much, it's still a wonderful way to maintain your bankroll. The offer is also often a better reward than loyalty points because it's worked out as a percentage and isn't fixed. So, if you lose heavily, you're likely to receive quite a tidy sum of cash.
How to Claim a Cashback Offer
Before claiming any cashback offer, it's important to do thorough research and ensure that it's the right promotion for you. Once you choose an offer, check if it requires a promo code or not when signing up. The casino may require that you use a promo code to claim the offer.
Below are the steps you must follow to claim a cashback bonus using a promo code.
- Sign up with the casino. You'll be required to fill in your details so your account can be verified.
- Enter the promo code relevant to the cashback offer.
- Meet the offer's terms and conditions.
- Withdraw your bonus.
Claiming a cashback offer is very simple. But before you redeem the offer, make sure to check out its terms and conditions to understand it.
Terms and Conditions
In most cases, cashback bonuses don't come with any wagering requirements to meet since they're offered after the player has already placed wagers with the online betting platform.
It wouldn't be fair to put playthrough requirements on any money the casino gives back to the player for his or her losses. Therefore, the cashback offer essentially gives you back the cash you've wagered and lost, thus softening the blow of your loss.
If there's a wagering requirement for a cashback bonus, the terms and conditions of the casino should state that clearly. It should have information about the bonus amount, cashback percentage, validity, and how much cashouts are allowed. As such, it's strongly recommended that you check out each offer's terms and conditions before picking one.
