The gambling industry is loaded with uncertainties and risks. Only a few out of thousands are able to make money without losing their own funds. But when it comes to the online casino industry the chances of your winning are higher as the prize pool is higher as compared to the offline casinos. However, a few players still lose whatever deposit they have in their account which can lead to high financial loss and anxiety about losing everything.
Well to provide such players an aid, online casinos have framed several rewards and offers. One of such offers is the cashback bonus. A cashback bonus will allow a player to get a refund of the money spent in playing games. Cash Back bonuses are like the insurance of your deposit. Here, in this article we will let you know more about the cash-back bonuses.
What is a cashback bonus?
A cashback bonus is a type of bonus offered by the online casinos in which you can take a certain fraction of your loss from the casino, the loss can be from a specific game or number of games over a period of time. The prime motive of online casinos to present cash back bonuses is to reward the players for their loyalty over a period of time and encourage them to play more. Because after a huge loss, most of the players quit and never play gambling again.
This will result in the loss of a passive player for online casinos. That is why it becomes important for online casinos to deliver the cash back bonuses to their players. Cashback offers are usually time limited offers displayed on the promotion page. For example, you got a 20% cashback deal as your welcome bonus. Then after completing all the wagering requirements you can claim the 20% of your loss that occurred. By doing so the casinos allow the players to play a little more to recover losses without making any new deposits.
Types of cash back bonuses
Cashback offers come in different sizes and variations, below mentioned are some of the most common types of cash back bonuses you can claim in the online casinos, let’s have a look:
Wager-free cashback bonus:
The wager-free cashback bonuses are the rarest ones offered by the online casinos, in which the players can claim a certain percentage of their losses without satisfying any play through requirements. But the things are not simple at all, such bonuses come with the loss limit. This means you have to lose a certain amount before claiming the wager-free cashback bonus.
Monthly cashback offer:
Monthly cash back bonus is given to the players at the end of the month and will help recover a certain percentage of loss that occurred in the month. If you are actively playing casinos then the amount recovered from cashback will be beneficial and profitable for you.
Daily cashback bonus:
Similar to the monthly cashback bonus, the daily cashback bonus will deliver you a certain percentage of loss that occurred throughout the day. The amount of money recovered is depending upon the money spent by you, so playing higher stakes will result in higher cashback.
VIP bonuses and offers come with the best incentives and rewards given to the players by online casinos. The active members who have high loyalty points will receive VIP membership. Here, you can enjoy higher cashback offers. Moreover, the players at a higher tier of VIP membership are enjoying up to 50& of the cashback offers.
Weekly cashback offers:
Weekly cashback offers are given after the end of the week when recovered money is given as cash back to the players who have lost their funds in gambling. For making the payout request of the cashback money you need to meet the wagering requirements.
On all losses:
This type of cashback bonus will be claimed every time you face a loss. Like if you play a game and lose $100, then you can claim a certain percentage of the loss depending upon your cashback bonus. The fund will be automatically transferred to your casino account and will be ready to withdraw once completing the wagering requirements.
This type of cashback bonus is quite different from the previous types. Here a certain percentage of cashback is rewarded to you on the basis of deposits made by you. For example, if you have made a deposit of $100 and have a cashback offer of 20%, then you can claim $20 and the fund will be instantly transferred to your account.
Losing spins or bets:
It is not possible that every time you lose money only, sometimes you lose your bids and spins. In this type of cashback offer, you will get some of the spins and bids as a recovery bonus. These bids and spins can be used again for gambling in online casinos.
Steps to claim a cashback bonus
The cashback bonus can be claimed to recover the money you lose. Like if you are bidding and lose $1000. In such a situation you have to go for cashback bonuses. Below mentioned are the steps to claim the cashback bonus:
Redeem the bonus: First of all you need to visit the promotion page and look whether there is any cashback offer or not. If yes then click on the link for the cashback bonus.
Accept terms and conditions: This is one of the most important steps needed to be considered before claiming a bonus. You are recommended to read out all the terms and conditions and check whether the offer is applicable or beneficial for you or not. Accept the terms and conditions to continue.
Check the eligible games: Usually, the cash back bonuses are not applicable for all the games available in the casino. There is a limit and restriction on the cashback bonus. So, make sure to activate the bonus after selecting the required game like you have selected the live casino then the losses that occurred while playing the game will be delivered to your casino account instantly.
Enjoy your bonus: After following all the steps the bonus will be transferred to your casino account. Now, it’s on you whether you use the fund to play games again or withdraw the cash.
Things to keep in mind before claiming a cashback bonus
Now every bonus is beneficial for you. Some of the bonuses may result in a waste of your time and efforts. So, make sure to consider several aspects. Below mentioned a few of these factors, let’s have a look:
Bonus duration: As the cash back bonuses come with the applicability time like some bonuses are daily, some are weekly and others are monthly. If you choose the monthly cashback offer then you need to wait for a month to claim the losses. So, look into your requirements and then claim any cashback bonus.
Cashback percentage: Not every casino has the same rules and regulations regarding their cash back bonuses. Before choosing the cashback bonus make sure to look out for the percentage, like for a new member 25% cashback offer is more than sufficient. On the other hand, the existing players with VIP memberships can expect 50% from the cashback offer.
Wagering requirements: Wagering requirements are just like the sticky gum that comes along with every bonus. You need to consider them and be satisfied too, for making payout requests. Without satisfying wagering requirements you can not withdraw your cashback bonus amount.
Bonus amount: Play more to lose more is the tagline of cashback offers. That means, some of the cashback offers come with minimum loss requirements. You need to lose the amount mentioned to claim the cashback offer.
Advantages and disadvantages of cash back bonuses
As everything comes with both a negative side and a positive side. The same with the cashback bonus. It comes with both pros and cons. You need to consider them before claiming your bonus.
- Refund a certain fraction of losses
- Only given to the loyal members of the online casino
- Easy and faster withdrawal of real cash into your bank account.
- Minimum wagering requirements.
- Allow you to play more games using the recovered money.
- Some online casinos are not offering the cash back bonuses.
- You need to lose your money before claiming the cashback bonus.
- The cashback offers can not be claimed in case the loss is made using the funds of other bonuses.
- Can not be claimed in case your withdrawal is pending.
Why are our top-ranked cashback bonus casinos the best?
Online casinos are the home to thousands of players who used to actively play and compete with each other. But as the growing demand for online gambling. Thousands of new casinos have started which makes it difficult for the new users to choose the best cashback bonus casino. We have conducted a survey of the online casinos and found the top casinos with the best cash back bonuses.
Our list will help you to choose the wise platform for you. In case you lose your funds, the cash back bonuses will recover some percentage of your loss. There are many factors and aspects we consider before taking the online casinos. Like the payment methods, user-friendly interface, number of games available, easy-to-satisfy wagering requirements, fewer terms and conditions, and many more.
Winning and losing money is the trust of the online casino and gambling industry. Winners are satisfied with their winnings whereas the players who lose can also be benefited from the offers like cashback bonuses. A certain percentage of the amount of your loss will be delivered to you by the online casino as your cashback bonus. Moreover, the amount can also be withdrawn or used to play more games, depending on your interest. But in case of making a cash- out request, you need to satisfy the wagering requirements.
Can I get a refund for all games?
This is entirely dependent upon casinos, some casinos used to offer the cashback for all the games played, to their players while other casinos had some selected games available for the cashback. Mostly, the cashback offers and refunds are only limited to the live casino games.
Are there any wagering requirements for cashback?
Every bonus and reward offered by the online casinos comes along with some wagering requirements, i.e. Playthrough requirements. The same with cash back bonuses. Usually, the rollover is around 10× to 30× of the cashback amount. Also, some of the online casinos used to offer cashback without any wagering requirements.
Is deposit money required to claim a cashback bonus?
Whether you are required to make a minimum deposit to get the cashback bonus or not is dependent upon the casino operators. In some casinos, you need to deposit the minimum amount required while some casinos used to refund or give you a cashback bonus even if the last payment was made a long time ago.
Can I win real money with cashback?
Keep in mind that whoever you will review a percentage of your loss as a cashback bonus, the fund is yours. Now, it is depending upon you whether you use them for playing or withdraw them from your account. However, some of the casinos imposed some wagering requirements that needed to be fulfilled to make payout requests.
What is the difference between a welcome bonus and a cashback bonus?
Both the welcome bonus and cashback bonus are types of bonuses offered by online casinos. The welcome bonus is given to the newly joined players who have made their first deposit. On the other hand, the cashback bonus is made for the existing players to aid them and recover the loss.
Are online casinos fake?
The clear-cut answer is that the licensed and regulated online casinos are safe for gambling. On the other hand, the unregistered and unauthorized casinos are illegal or can scam your funds once deposited. We recommend you always choose the registered online casino.