What is a Cashback Bonus?
The Cashback Bonus is one of the promotional tools online casinos use to protect their players from losses, up to a certain extent. To put it simply, this means a certain refund on part of the money a player loses over a specific period or even in concrete games. Such a bonus will give a player a cushion during losing streaks and help regain partly the lost funds to continue playing.
What does the phrase Cashback Bonus mean?
The phrase “cashback” in gambling describes the payout that players get after they place a lost wager. Although the phrase is used in both physical and virtual casinos, online casino operators are more likely to employ the cashback option. A tiny percentage of every bet you make that you lose will be deposited into your “cashback account.” Depending on that terms of the casino, you can withdraw cashback funds to your account and utilize them to play with after the end of the week or month.
The phrase “Bonus” in gambling means a gift that you can get for doing a certain action. Most often, these are platform points, cash, free spins or cashback. For convenience, Bonuses are divided into 2 types: No Deposit Bonus and Deposit Bonus.
How does the Cashback Bonus work?
Each casino is interested in what would offer its players a certain type of insurance and in this case is Cashback. The casino may offer different rules on getting a refund, but let’s take a look at the case where you signed up on the platform, went into the stock tab and saw that the casino offers 20% Cashback per week. This means that if you lose €$200 in a week, then by switching to your profile with a 100% chance you will be able to pick up your Cashback of €$40, giving you another chance to win.
Why does the Casino offer this?
A casino cashback bonus is essentially a refund offered to players, typically in the form of a percentage of their wagers or net losses over a predetermined time frame. In addition to rewarding player loyalty and encouraging continuous play, these incentives also provide some solace for losses sustained during gaming sessions.
One of the reasons is to keep potential players on the platform, because if a player wants to win at least a small chance to win, he can win the Jackpot and lose absolutely everything.
Cashback Bonus Types
Different casinos can offer one type of Cashback Bonus or several different. Remember the factor that different bonuses have different terms and conditions, as well as the refund percentage that is worth knowing.
Daily Cashback Bonus
The most popular type of incentive is the daily cashback offer, which gives you a specific amount of time to spend your net losses after it is activated (so you don’t lose them). Naturally, the amount of money you spend determines how much cashback you receive. Your cashback will increase if you play for large stakes, and vice versa.
Weekly Cashback Bonus
Type of promotion offered by online casinos that calculates the amount of funds a player has lost during the past seven days. This bonus is designed to provide players with a partial refund of their losses, helping to mitigate the impact of a losing week and encourage continued play.
Monthly Cashback Bonus
The monthly cashback bonus is valid for the whole month. After its expiration, you will get back a certain proportion of your net losses. This might add to quite large earnings, especially if you are someone who plays frequently. It also lets you forget you are getting paid more to increase your happiness at the end of the month!
VIP Cashback
This type of bonus is one of the best that the casino can offer you at the stage of your start in the online casino industry. Almost every casino offers players to become part of the VIP Club and get certain privileges relative to other players. By standard, this privilege rewards players with an increased offer for Cashback. Each of the VIP Club levels can change awards or raise the reward received.
What to look for when searching for the best Cashback Bonus?
Percentage
As far as this option is concerned, we recommend to pay attention to bonuses with a high refund percentage, classic Cashback Bonus can contain up to 25%, and if you are a member of the VIP club, the reward can rise to 50%. We do not force you to listen to our advice, we simply say our opinion, which may affect your time during your stay.
Wager
Cashback bonus playthroughs run for as low as 1 times the bonus amount; hence, you may want to look out for offers that carry the lowest possible wagering requirements. In this way, you can easily meet up and withdraw your winnings without having to stake a lot of money.
Bonus amount
The infamous “up to” portion of the bonus is the bonus amount. This number should also be greater than average, but watch out—aiming for the biggest bonus sum will force you to play more games, which might result in losses. Make sure your bankroll can support that.
Expiration date
You should remember how often you can collect your reward, this information is displayed in the name of the promotion. Almost always, bonuses of this type are cyclical and updated depending on the chosen day of the platform.
Above we have listed all the most important factors that may affect your choice of platform. We strongly recommend that you pay attention to each of these items individually and collectively to get the best Cashback Bonus!
PROS
- Risks: Thanks to this promotion, each player will reduce their risk of losing all funds, as the bonus will return you a certain amount of lost funds.
- Easy to use: This type of bonus does not require any special actions to activate or receive a reward.
Play and receive: The more you play and lose, the more you can get in the form of Cashback. - Chance: Every player who receives their Cashback Bonus has an extra chance to win.
CONS
- Limits: Cashback-type bonuses have certain winnings limits that are fairly low and only return a small part of the total loss.
- Limitations: Each of the bonuses have some sort of restriction and the Cashback Bonus may have limitations on the type of countries allowed or the amount of the minimum loss, after which Cashback is possible.
- Game Bans: Pay attention to the terms and conditions that indicate which games you can get your Cashback Bonus for, because if you have played a game that does not have this feature, then unfortunately and expect you to have nothing.
How to Get a Cashback Bonus
Like any other bonus, Cashback Bonus must be activated and in this paragraph we will try to tell you all the points that are worth considering when activating the bonus. And so here is a list of actions in the right order to be done
Carefully review the terms and conditions of the bonus, one unread item may affect the reward or bonus activation.
It is very important to choose the right casino to suit your requirements and include those games in which you are interested, pay attention to honesty and RTP (RTP is the percentage that theoretically predicts how much you will be able to pay back at the end of the game session).
Virtually every bonus needed to be confirmed, this is done by simply pressing such buttons as Claim Now or Claim Bonus, both of which have the same meaning.
Full list of Cashback Bonuses
How much from Cashback Bonus you can earn?
Let’s try to calculate
Suppose the casino offers a 10% cashback bonus up to a maximum of €$50 per week. Here’s how you can calculate your cashback potential:
Calculate loss:
– If you lost within a week €$700 with 10% of Cashback, then in theory you should get €$70.
– If within a week you lost as much as €$1,000 with a cashback of 10%, you would have received(€$1,000 * 10%=€$100), but not with a maximum win limit of €$50.
– Don’t forget that if your loss does not exceed the threshold necessary to make the Cashback Bonus feature active, you will get nothing at all. Which, in turn, sets the terms, either play for all the money, or don’t play at all.
Income:
– As much as it may seem to you that the casino is paying you back your lost funds this is not the case, and in fact you are getting some part, but it is done to fuel your interest.
– If you are going to play big and go to the lists of players who like to play big bets, then you have the chance to take away every time the maximum reward.
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Get BonusMeet Den, our seasoned gambling pro and head of BonusManiac. With a friendly and approachable style, Den delivers insightful casino reviews that make your gaming journey smooth and enjoyable. He breaks down the complexities of online casinos into simple, straightforward advice, just like a good hand of poker.
