Cashback bonuses from online casinos are a handy way to keep you from losing your entire play balance or stake by recouping some of your losses.
When things don’t go your way, you’ve got an ‘insurance’ style bonus in place that will provide you with a rebate in the event of a loss at a particular casino. Generally, cashback comes in two main types, and the amount varies from site to site.
However, unlike generic retail cashback deals, casino cashback typically only gives you a return on your losses, rather than the amount you spend (deposit).
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Types of Cashback Bonuses
Online casino cashback is a type of offer that has risen in popularity over recent years. Due to the rise in general internet usage and cashback sites, people are always looking for a great deal, and gambling online is no different.
As an alternative to the run of the mill casino promotions, many online casinos are now focusing on cashback offers that allow players to get something back in their accounts even if they don’t win, whether it’s real cash, bonus money or free spins.
Each online casino sets their own deal types and cashback rates (often trying to get the edge over their competitors). This puts the power squarely in new players hands, allowing them to pick and choose which deals appeals to them most before signing up.
The main cashback deals on offer in the gambling industry:
- Real Money Cashback: is when an online casino will return a percentage of your losses as ‘real money’ in your account that can be withdrawn. This type of cashback bonus is less common and does usually involve a lower percentage return, but does come without limits or restrictions. –
- Bonus Money Cashback: is viewed more as ‘credits’ than actual money. Also known as bonus funds, this type of cashback returns a percentage of your losses as a bonus that can be used to continue playing or be stored in your account for use at another time. Bonus money cashback allows you to win and withdraw money (minus the bonus amount) as long as the wagering requirements have been met. Be sure always to check the small print as some cashback bonuses come with time limits on when they have to be used by.
- Free Spins Cashback: is a type of offer that rewards players with free spins on slots equivalent to a percentage amount lost during play. For example, if you play and lose £500 at a casino that offers 5% cashback as free spins, you will be rewarded with 25 free spins with a spin value of £1 per spin.
- Game Related Cashback: is a type of cashback deal whereby cashback is linked to a specific game or set of games, meaning you can only get a percentage of your losses back on game titles designated by the casino provider.
- DOTW Cashback: also known as ‘Days of the Week’ cashback, is when a particular casino site offers cashback on set days of the week.
- Daily cashback: casino sites that offer daily cashback is often similar to a ‘happy hour’, where players can get a set rate of cashback on their losses between a certain time of day set out by the casino, such as between 9-10 pm.
Claiming Cashback Bonuses
When looking to claim a cashback casino bonus, you will be pleased to know that this bonus type is one of the easiest to get your hands on. For online casinos that automatically offer cashback to all players; to claim you simply play and lose – this will trigger the cashback, and you will be rewarded with the percentage amount as set out in your membership agreement.
For casinos that do not automatically opt all players in for cashback, there will be a promo code available so that you can opt-in. Opting in arrangements for cashback exist because not all players like having ‘strings attached’ (mostly on bonus funds) in the form of wagering requirements, and may find it restrictive.
Cashback Wagering Requirements
Almost all online casino bonuses come with wagering requirements. These are a set of conditions laid out by the casino that must be met in order for an action to take place – usually withdrawing cash. Wagering requirements on cashback work in exactly the same way.
Players must play through a certain amount of money in order to trigger the release of the cash in their casino account. Some players don’t have a problem with wagering requirements, as they only ever apply to a bonus, whereas other players find them restrictive and feel as though their funds are being held to ransom.
Ultimately it comes down to player preference and if wagering requirements are something that bothers you as a player, simply find a casino that offers wagering free offers.
Who qualifies for a cashback bonus?
With a cashback casino site, all new players qualify for a cashback bonus. Check whether a promo code is needed to opt-in for cashback before joining.
Is cash back better than traditional bonuses?
Some casino sites offer both traditional welcome bonuses and a cashback offer. However, ultimately, it comes down to what each player prefers. The advantage of a traditional bonus is that it usually involves a much higher amount than cashback amounts. Whereas the advantage of some cashback offers over traditional is that there are no wagering requirements.
What is the percentage players can expect?
The typical percentage of cashback available varies from 5% to 25%.
Is cashback available on all casino games?
Each casino provider sets out their cashback terms before players sign up. Some casino sites offer cashback on all games, whereas others exclude certain categories of games, such as blackjack or individual game titles. At some casino sites, cashback is only available on live games.