Casino Cashback Bonuses
Online casinos use a number of offers, discounts and tricks to secure long-term custom. One of the most widely used offers you might find on online casinos is cashback bonuses, which vary in amount and terms. These are often used most heavily with newer users, but this is not always the case. Here’s everything you need to know about how to find cashback bonuses and a few of the best that you might want to take a look at.
Best Cashback Bonus Offers
How Do Cashback Bonuses Work?
Cashback bonuses are effectively percentage refunds on amounts you have spent on online casinos. These are used as incentives to spend more, ensuring that players don’t go completely bust and are rewarded for spending more over specific periods of time. Cashback bonuses are offered at specific times or dates or over specific periods. They are often heavily advertised, especially to new users, as they are used as ways to reel customers in and create loyalty to a specific casino.
As cashback bonuses are deposited directly to your online casino account, making them more flexible and instantaneous than other types of bonuses, which may involve making a manual claim. These bonuses tend to be restricted to particular games as well as time, day and date ranges, and there are often wager requirements in order for you to qualify. Because casinos don’t want to give them out to all their customers all the time, the terms and conditions vary from company to company and can often be time-consuming to figure out. There is also a range of methods that online casinos use to promote their bonuses; forums, social media posts and emailed newsletters are the most widely used.
Sometimes, cashback bonuses are advertised and paid simply as a reward for you depositing a certain amount rather than as a top-up to your losses. More commonly, they come in the form of free game credits or spins rather than actual cash that you can withdraw. There are often restrictions on withdrawing any cash bonuses that mean your only real option is to keep playing.
Two Working Examples
1. Imagine an online casino that offers a 10% weekly cashback bonus on losses accrued during that week. You opt-in and deposit $50 into your account as per the terms and conditions. You play all week and make some losses but ultimately end up with $52 in your account.
2. Let’s imagine the same scenario, but the casino offers a daily cashback bonus. Your week looks like this:
Monday – lost $10
Tuesday – lost $10
Wednesday – broke even
Thursday – won $22
Friday-Sunday – didn’t play
The same as before, you finished your week with $2 in credit, but as the cashback bonus was daily, you made 10% on your losses on each day you finished in the red. So, on Monday and Tuesday, you earned $1 each day as a bonus. Therefore, you finish your week with $52 plus $2 in bonuses.
Typical Cashback Bonus Terms
A large amount of cashback bonuses uses a promo code system, meaning that you have to find the relevant code and enter it to be eligible. This is your way of opting in; it is rare that an online casino will just sign you up for a bonus without you having to do some of the groundwork.
There will also be limitations to bonuses paid. Typically, this is a maximum amount or a percentage that only applies up to a certain deposit or spend amount. There will also likely be terms that say that cashback bonuses can’t be taken alongside other bonus offers, so you may want to take a look at your casino of choice’s offers in full before committing to a cashback bonus, as it may not be the best freebie on offer. Typically, cashback bonuses are used by frequent players as a top-up scheme, while more casual players might find a deposit bonus makes more financial sense.
Advantages of Cashback Bonuses
Ultimately, if you understand the terms and conditions and are prepared to abide by them, cashback bonuses are something free from your online casino of choice – and free is everyone’s favorite price. If you can find an online casino that offers daily reload bonuses or a bonus that covers multiple different games, then this represents excellent value because your earnings are constantly being topped up. For regular players who don’t like to be taken out of the zone, this can be a good way of having to make fewer deposits when their funds get low.
While cashback bonuses are often attractive ways to limit losses, there are often stipulations that can catch you out if you don’t read the fine print. Typical restrictions include limitations on amounts and the caveat that you have to lose your entire deposit before you are entitled to any cash back. In practical terms, this means that you could lose an amount, withdraw the rest and be excluded from any bonuses as a result. As always, take a look at the terms and conditions before opting in so that you know how to make the most out of the offer. Finally, check which games are eligible, as there are plenty of options out there for those of you who specialize in particular ones!