In the online gambling world, luck is not always on a gambler’s side. Winning and losing are two sides of the same coin in gambling, but with cashback bonuses, the outcome may differ with extended gameplay.
Cashback bonuses are gaining traction among gamblers. These bonuses are net loss rebates, allowing players to continue playing without depleting their bankroll. In addition, it enables players to bounce back from a significant loss.
Learn how these cashback bonuses work and how to take advantage of the loss refund.
Cashback Bonus: What Is It?
While many people play for fun, many others do so in hopes of winning a hefty sum, which is why most casinos offer rewards and prizes continuously. Some are doing more, offering incredible cashback bonuses to loyal customers.
Like many things found in the world of online gaming, the idea of cashback deals originated in the world of land-based gambling halls, where VIP customers could enjoy extra perks like free hotel room upgrades, free meals, and other benefits. The truth is that as good as these perks may be, most players prefer getting their hands on real money.
The first thing a player needs to know is that an online cashback bonus or cashback program is different from the casino bonuses offered by so many online platforms. Furthermore, for most cashback casinos, the amount a player can get is directly related to how much he has wagered.
These bonuses are paid in cash directly to your online casino account and are sometimes given in the form of credits to play. Casino cashback programs operate in different ways, but they all share one thing: they offer real money without any conditions.
That being said, the amount that can be earned by participating in a casino’s cashback program is not fixed and varies from casino to casino and from player to player.
For example, if you are a high roller player who spends thousands of euros a month, you will get more cashback than an ordinary player who occasionally plays a few tens of euros. In any case, if you choose carefully you can get a cashback of 5 to 20%, although as mentioned the sites that offer a higher cashback bonus usually require the player to place higher bets to receive the money.
Types of Cashback Bonuses
Online casino cashback bonuses enchant gamblers to keep playing amid the losing streak. Cashbacks benefit the house in the long run since only a portion of the net losses return, which lures the gambler to play more.
The incentives received may vary depending on their level and activity. The gambling platforms have expanded and improved their bonuses, making them available to all bettors, not just VIPs.
- New player: Online casinos provide a cashback bonus as a sign-up bonus or allow players to choose between a deposit match bonus and cashback.
- Regular player: The house may provide cashback at random or on a schedule, like weekly or monthly. These rewards are available for loyal players.
- VIP member: One of the perks of a VIP is to receive an incentive package deal daily, weekly, or monthly.
- Tournament winner: In some cases, game developers organize a game tournament in collaboration with online casinos and award the winner cashback bonuses in addition to the winnings.
Continue reading to learn more about cashback bonuses on gambling sites and when they are available.
1. Cashback on Deposits
Cashback on deposits is a welcome bonus that online casinos provide to new players. Online casinos set a fixed cashback rate, which players can activate after 24 hours of play. This bonus serves as a safeguard for gamblers following their initial deposits.
For instance, the casino offers 20% cashback, and the bettor loses $150. Once the cashback period ends, the bettor will receive $30 ($150 x 20% = $30).
2. Game-Specific Cashback
Online casinos reward players with a cashback bonus for playing a specific game chosen by the casino. For game-specific cashbacks, games powered by RNG and Live Dealers have different incentives.
a. RNG-Powered Games Cashback Bonus
Online casinos often conduct tournaments or promotions for Provably Fair Games or games powered by Random Number Generator. These games include but are not limited to:
- Slots
- Roulette
- Blackjack
- Poker
Slots are the most popular Provably Fair crypto games associated with promotions, such as Slot Tournament. Gamblers can win cashback and a certain portion of the pot money by participating in the event and playing the game.
b. Live Casino Cashback Offers
Most cashback bonuses are only available for specific casino games, meaning live dealer games are not included. However, some casinos reward cashback to gamblers who enjoy interactive game sessions, such as:
- Live Baccarat
- Live Blackjack
- Live Roulette
- Live Slots
- Game Shows
Bettors may receive cashback bonuses such as free spins, bonus codes, or hard cash, which the online casino shall send directly to the gambler’s account balance.
3. Timely Cashback Bonus
Online casinos provide cashback bonuses to regular gamblers that differ only in terms of timeframe. These bonuses are available for periods ranging from 24 hours to several months.
Gamblers must only play eligible games within the time frame specified to qualify for the bonus. Players will receive the cashback in their account balance once the cashback period has ended and the bettor fulfills the T&Cs.
a. Daily Cashback Bonus
Gamblers can receive cashback for the net losses incurred after playing within 24 hours. This bonus benefits players who can commit to a full day of betting. The more games played in one day, the higher the cashback received.
b. Weekly Cashback Bonus
Online gambling sites provide T&Cs for their bonuses, including the promotion’s qualifying games. Players must meet the specified requirements to be eligible for the weekly cashback bonus.
After a week of playing eligible games, a portion of the lost money will go to the player’s account.
c. Monthly Cashback Bonus
The online casino’s Monthly Cashback Bonus is valid all month, with the bonus credited to the gambler’s online betting wallet on the first day/week of each month.
Gamblers who play regularly throughout the month benefit more from a cashback bonus than those who play frequently.
d. Short-Term Promotion Cashback
Online casinos organize promotions on special events like the platform’s anniversary or during holidays. This promotion can last a day to several months and offers cashback to qualifying bettors.
Depending on the organizer, the Short-Term Promotion cashback may be subject to stricter T&Cs than other timely cashback bonuses, including a loss limit, bonus validity, and game limitations.
Bettors should assume the following bonus T&Cs requirements: (1) lose at least $300 (2) while playing two specified slots (3) within three days. The incentive will only commence if the player meets these three requirements.
4. VIP Cashback
Cashbacks for VIPs are among the top rewards for online casino members. The VIP cashback rate increases when a gambler’s level advances and reaches a particular tier. Members will receive an exclusive bonus on a weekly or monthly basis.
For example: Gambler A received a VIP membership invitation. The program has seven levels, and each VIP level increases the monthly cashback bonus by 5.
Here’s a breakdown of the VIP monthly cashback bonus rewards:
- VIP LEVEL 1: 15% Monthly Cashback Bonus
- VIP LEVEL 2: 20% Monthly Cashback Bonus
- VIP LEVEL 3: 25% Monthly Cashback Bonus
- VIP LEVEL 4: 30% Monthly Cashback Bonus
- VIP LEVEL 5: 35% Monthly Cashback Bonus
- VIP LEVEL 6: 40% Monthly Cashback Bonus
- VIP LEVEL 7: 45% Monthly Cashback Bonus
5. Game Provider Cashback
Online casinos host promotions or events, with game providers acting as facilitators. This promotional event could be a tournament for the game provider’s specific game, similar to a slot tournament.
Gamblers who win the tournament will receive a monetary prize and a cashback bonus. The cashback bonus may be subject to a game restriction and can only apply to games provided by the Game Provider.
6. Progressive Cashback Bonuses
Online casinos may organize a level-up promotion with a cashback bonus as a prize. Players receive a cashback based on their game level, where the bonus increases as the player’s rank advances.
For example, a beginner level receives a cashback of 3%, and the max level gets a 100% cashback bonus.
7. Cashback on Total Bets
In total bets cashback, the higher the wager, the more the cashback. Bettors will receive a portion of the total amount wagered within the specified timeframe, regardless of whether they win or lose.
For instance, suppose a player wagered $600 and received a 30% cashback on total bets. The casino deposits $180 cashback directly into the gambler’s account balance.
8. On All Losses
Online gambling platforms usually link their cashback offers to specific games. However, online casinos frequently provide cashback on all losses, with zero restrictions on the games played.
Gamblers can play any casino game and still get a percentage of their losses. While the unrestricted game selection makes it popular with gamblers, the catch with this rare and highly sought-after gem is the refund cap.
Let’s say the house offers 20% cashback with a maximum fund of $120 for a week-long loss.
- Gambler A loses $500 and receives 20% cashback equivalent to $100.
- Gambler B loses $800 but will not receive the 20% cashback of $160. Instead, Gambler B will only receive the maximum refund of $120.
9. Converted Rebates
The typical setup for a cashback bonus is that the players receive cash directly to their account balance. However, with converted rebates, online casinos will reward gamblers in another form, such as:
- Free Spins
- Lottery Tickets
- Crypto Coins
For example, a player lost $200 and received a 20% cashback bonus. Instead of receiving $40 in the gambler’s account balance, the casino provides free spins worth the same cash value.
10. Wager Free Cashback
The Wager-Free is a rare cashback bonus with a refund-in-real-cash setup. Instead of crediting money to players so they can play again, this incentive allows gamblers to withdraw their net loss rebates immediately.
The house imposes zero wagering requirements. However, the casino will most likely impose a loss limit condition that requires gamblers to lose a certain amount before receiving the percentage loss reimbursement.
How to Claim a Cashback Bonus
Claiming a cashback bonus is simple, but it differs depending on the online casino and the type of cashback. Generally reserved for seasoned and VIP players, cashback bonuses are available as a sign-up bonus, allowing new players to take advantage of it.
For new players who want a cashback bonus as a welcome bonus, here is the overview of how to claim the reward:
- Choose a reputable casino: Choose and verify the validity of a casino’s license to ensure a safe and transparent gaming experience. Aside from the license, check the cashback bonus offered and its T&Cs.
- Create an account: Register to the chosen casino. Use a strong password for an added layer of security.
- Make a deposit: Ensure you understand the requirements and limitations of the cashback bonus before making an initial deposit. Make the minimum deposit; otherwise, you will not receive any bonuses.
- Claim the bonus: Use and enjoy the bonus funds received for eligible games before expiration.
- Play and lose: Before you can activate and use the cashback bonus, you must lose first. Remember to play within the specified games and period.
- Meet the bonus conditions: Make sure you meet the bonus wagering requirements. Once completed, the cashback amount might go directly to the gambler’s account.
Play More With Cashback Bonuses: Are They Worth It?
Cashback bonuses are worth having, allowing players to extend their gameplay. Gamblers can enjoy the game and keep it from rolling without depositing or betting money again.
The bonus increases the gambler’s winning odds with the newly added funds, allowing them to regain their footing and continue playing. In some online casinos, cashback is available for withdrawal without wagering requirements.
Final Thoughts
Cashback bonuses are becoming more popular in online gambling, especially since it has less restrictive rules. Gamblers can choose whether to play further or withdraw the rebates they receive from the net losses.
Choosing the latter option would mean the gambler can recuperate on some losses incurred during the gameplay. However, if playing more is the option, make sure to use the rebate wisely.
