Table of Contents
- What Is a Cashback Bonus and How Does it Work at Online Casinos?
- Different Types of Online Casino Cashback Bonuses
- Advantages and Disadvantages of the Cashback Casino Bonus
- Claiming a Cashback Bonus: 5 Steps to Take
- Terms and Conditions Associated With Casino Cashback Bonuses
- Vital Tips to Get the Best Out of Your Cashback Bonus Online
- Cashback Bonuses FAQs
What Is a Cashback Bonus and How Does it Work at Online Casinos?
A casino cashback bonus is an online promotion that offers players rebates on part of their losses. If you’re an avid casino goer, you’re no stranger to taking losses, but with this bonus, you can claim back some of that lost money. For this reason, it’s often called a money-back bonus.
Casino bonus cashback is usually available to everyone, new players and existing customers alike. It’s one of the few casino promotions that don’t discriminate. Cashback can be given as a bonus or real money. When given as a bonus, you’ll need to complete the terms and conditions before you get a payout. The only exception to this rule is no wagering bonuses.
Calculating cashback is quite easy. Let’s say your preferred online casino is offering a 15% Weekly Cashback Bonus. If you were to lose NZ$100 during gameplay in the previous week, you’ll receive a NZ$15 bonus. It’s that simple. Like the deposit match bonus, cashback is always given as a percentage value. Percentages vary by casino site and can range from 5% to 30%.
Different Types of Online Casino Cashback Bonuses
All casino cashback offers aren’t the same. There are different types you’ll encounter at online casinos, and we’ve gone ahead to compile a list of the major types of cashback bonuses available:
Cashback on Losses
This is the standard bonus cashback format that offers rebates on losing bets. This one usually has no game restrictions, meaning that you’ll receive a percentage of your losses irrespective of the game you play.
Deposit Cashback
Deposit cashback is a unique form of cashback available within the iGaming scene; they deviate from the inner workings of regular cashback offers. So, rather than receiving rebates on losses, the casino offers you a part of your deposit. It’s more generous since you’ll receive cashback whether you win or lose.
Cashback on Specific Casino Games
This cashback offer usually focuses on a particular casino game or category of games. For example, it might be available on a pokie game like Gonzo’s Quest or live Game Shows such as Cash or Crash, Mega Ball, Crazy Time, and Dream Catcher. Sometimes, only games from specific software providers are eligible. This type of cashback is very attractive, especially when your preferred game genre is involved.
Loyalty Cashback
Cashback offers are a standard reward system within loyalty and VIP programs. You’ll usually get progressive cashback values, with rates increasing as you advance in rank. For instance, where level 1 players may get a 5% cashback offer after creating an account, those at the topmost levels may benefit from 20% or 30% cashback.
Monthly Cashback
This cashback bonus offers rebates at the beginning of every month, and the relevant cashback period is the previous month. The rebate you’ll receive on this cashback variant is typically low and will differ from casino to casino.
Weekly/Weekend Cashback
The weekly cashback format is very common, especially within loyalty programs. A weekly cashback promo will take into consideration losses incurred in the span of a week. In contrast to the monthly cashback, this one encourages more regular play. On the other hand, weekend cashback covers bets made during the weekend.
Daily Cashback
Daily cashback covers losses within the previous 24 hours. It’s one of the rarest forms of cashback available. This kind of cashback bonus is usually offered at new online casinos looking to gain a competitive edge.
Short-Term Promotion Cashback
These promotions are usually active for a few days or a few weeks. For example, a casino might curate a Christmas-themed cashback offer during the festive period to commiserate with those celebrating Christmas. However, note that the T&Cs attached to these cashback bonuses are stricter than what you’d encounter on other variants.
Converted Rebates
With converted rebates, instead of receiving your cashback as cash, you’ll get them as on-site tokens like free spins, online bingo tickets, etc.
Live Casino Cashback
This refers to cashback promotions valid exclusively on live dealer games. The live casino cashback offer is an excellent incentive if you enjoy placing wagers on Live Blackjack, Live Baccarat, Live Roulette, Live Game Shows, etc.
Advantages and Disadvantages of the Cashback Casino Bonus
Cashback bonuses are great casino offers. However, like all online casino bonuses, they too come with pros and cons, and it’s best to stay informed about their good and bad sides so you can navigate through them smoothly. So here’s what you need to know:
Advantages
- Safety Net for Players: Cashback bonuses offer protection against outright losses. This is beneficial to both newbie and veteran casino players, as losses are unavoidable when gambling.
- More Chances to Win: Getting cashback means you have extra funds to play with. And each additional bet on pokies or table games is one more chance to win.
- Little to No Wagering Requirements: These promotions typically have low wagering or no wagering requirements at all, meaning you can withdraw your bonus very quickly.
- Easy to Use: To activate a cashback bonus, all you need to do is opt into the offer and input a promo code if necessary. It’s very user-friendly and doesn’t require too many protocols.
Disadvantages
- Limited Accessibility: Cashback bonuses are often tied to losing bets. As such, you’ll only benefit from them when your wagers fall through.
- Small Reward: If you’re looking for cashback sites with big sign-up bonuses, you may be disappointed. Since cashback percentages are usually very small, you’ll only get a small reward in return.
- Restricted Games: Cashback offers are usually available on one or a select group of games. So, if you aren’t playing any of these titles, you won’t be compensated for your losses.
Claiming a Cashback Bonus: 5 Steps to Take
If your chosen online casino offers a cashback bonus, claiming it isn’t rocket science. By following the steps, you’ll be able to claim cashback promotions easily:
Choose an Online Casino
If you want a cashback bonus, you must choose an online casino offering one. Fortunately, we’ve done the legwork for you and have sieved out some of the best cashback bonus online casinos. Just take your pick from the sites on the banners atop this page.
Read the Offer’s Terms and Conditions
Make sure you read the fine print. This way, you’ll get up to speed with all the bonus rules and better understand how the bonus works.
Create an Account
You must be a registered player to claim a casino cashback bonus. So make sure you create your new player account by filling in your data and verifying your account as requested.
Opt-In for the Bonus
The next step is to opt in for the bonus. You can do this under your profile or within the promotions page.
Claim Your Cashback
Place wagers on participating titles during the cashback period, and afterwards, you’ll automatically receive your rebates, depending on how much you deposited or lost.
Terms and Conditions Associated With Casino Cashback Bonuses
We’ve already established that cashback promotions have terms and conditions. Here, we’ll take a closer peek at the major components making up these T&Cs.
- Minimum Deposit/ Loss Limit: This is the smallest amount that must be deposited or lost during the cashback period to be eligible for the bonus.
- Wagering Requirements: Many times, the cashback casino bonus is wager-free. However, other times, there may be some playthrough required. This is usually the case for converted rebates, where the cashback may be given as free spins or other non-cash bonuses.
- Maximum Cashback: The maximum amount you can receive as cashback. For example, if a 10% cashback offer comes with a NZ$300 maximum cashback, that’s all you’ll receive even if you lost NZ$400 or more.
- Cashback Period: The time limit on cashback bonuses is daily, weekly, or monthly. You must place bets or deposit within the specified time to be eligible for cashback.
- Participating Games: This marker is one of the most important when it comes to cashback bonuses. These promotions are typically available on specific games, with others being excluded. It’s important to check which games are eligible before you play.
- Minimum Payout: This is the smallest amount you can receive as cashback. It’s similar to the no minimum deposit/loss limit because you can simply calculate how much you need to spend to achieve the minimum payout.
Vital Tips to Get the Best Out of Your Cashback Bonus Online
Your cashback bonus experience can be good or bad, depending on how you make use of it. Naturally, everyone wants the best value when using these offers. So here are some of our expert tips for maximising the cashback bonus:
Carefully Read the Terms
This is a step you absolutely should not skip. Take the time to go through the bonus terms and learn all the rules about using the bonus.
Take Note of the Cashback Percentage
Higher cashback percentages don’t always translate to it being a better offer. However, where all other terms are equal, the higher the percentage, the better your cashback value.
Check The Cashback Validity Period
The cashback validity period tells you how much time you have to participate in games and what your chances are of winning the bonus. Suppose you’re not such a regular player. You may want to avoid the time-constrained Daily Cashback and stick to Weekly or Monthly offers instead.
Be Aware of Game Exclusions
The reason why it’s essential to take note of this is so you don’t waste time playing excluded games. Unfortunately, this is a common way many players lose out on cashback bonuses.
Have a Budget
Establishing a budget helps manage your bankroll. It also helps you with your cashback strategy. You can plan how much you want to spend based on how much you hope to win as cashback.
Play Consistently
Regular play is often more beneficial than sporadic, high-volume sessions. Many casinos calculate cashback based on daily, weekly, or monthly activity, so consistent play can lead to better cashback rewards.
Cashback Bonuses FAQs
What is a cashback bonus in online casinos?
A cashback casino bonus is a type of promotional offer where the casino returns a percentage of your losses. It may be given as bonus money or real cash.
Can I receive real money with a cashback bonus?
Yes, you’ll often get real cash rebates from cashback promotions. However, several sites will offer these rebates as bonus spins or bonus cash that you have to play through before receiving a payout.
Do all online casinos offer cashback bonuses?
No, not all casinos are cashback bonus casinos. Fortunately, there’s a good number of sites where you can enjoy a cashback bonus online, and we’ve recommended the best ones for you right here on this page.
Is cashback bonus online safe?
Yes, cashback bonuses are safe to claim. Nonetheless, you must ensure that you’re claiming these incentives at licensed and regulated online casinos like the ones we recommend.
Is cashback bonus free money?
Cashback is basically the casino returning some of your bets back to you, so it’s not exactly free money. However, sometimes you may receive these bonuses with no deposit and wager-free. In this case, they work just like free money.
Do I get cashback only for losing bets?
Most cashback bonuses are on gambling losses, but there are also cashback offers for all deposits within a given period. Deposit cashback is more generous since it rewards both losing and winning stakes. However, it’s also less common.
Can I use cashback bonuses on any game?
Cashback bonuses often come with game restrictions. Casinos might exclude certain games from qualifying for cashback, and there may be different cashback rates for different types of games.
How often can I claim a cashback bonus?
Some cashback casinos provide this bonus as a regular promotion (daily, weekly, or monthly), while others offer it as a special or occasional bonus. The frequency by which you can claim it depends on how the casino chooses to offer the bonus.
How much cashback percentage can I get?
The average cashback percentage is about 5% – 30%. Some cashback offers are fixed, while others grow in percentage as you continue playing at the site.
Are cashback bonuses better than other types of casino bonuses?
Cashback bonuses can be considered more favourable than other casino bonuses because they help you cut down on your losses. Also, they tend to have lower wagering requirements than other bonus types.