You often hear about cashback bonuses, but unless you’re totally familiar with modern casino terms understanding what these bonuses actually include can be a little bit confusing sometimes. If you’re interested in learning more about this type of bonus, we’ve put together this handy guide that will highlight anything you need to know should you ever consider opting in for one of these bonuses.
No doubt, this is a type of bonus which is becoming increasingly popular, it is a casino’s way of offering its players rebates, to entice them to continue gambling. As NoDepositBonus.guide explains, “Cashback bonuses are in high demand because of their low wagering requirements. They are credited retroactively once a player fulfills certain criteria. The amount received back depends on the provider in question, although most casinos offer a generous return of 10 to 25%”. Keen on learning more? Let’s get right into it.
What’s a Cashback Bonus and How Does it Work?
Generally speaking, a cashback bonus is designed to return funds to players usually based on house wins within a specific time frame. In simpler terms, let’s say a casino is offering a 10% cashback bonus any time your bankroll hits $10 or less. In this case, you’ll be awarded a 10c bonus on every lost dollar once you’ve hit the threshold.
Of course, just like with any other bonus, these cashback bonuses can be found in various shapes and forms at different casinos, which is why you’re always going to want to read through the terms and conditions to really make sure you understand the fine print before committing.
In a way, cashback bonuses are a fantastic way of making back some funds that had already been debited from your account, boosting your bankroll unexpectedly. If you’re smart enough, there’s also the chance of using these bonuses to your advantage and turning things around when you least expect it – especially if Lady Luck happens to be on your side.
Cash Back Bonus Types Explained
As we’ve just mentioned, there are different types of cashback bonuses to look out for that might take daily or weekly house wins into consideration, which means that you might need to stick around for a while in order to benefit from them. Remuneration is generally received in bonus funds or free spins depending on the offer you’ve selected. Here are some of the most popular cash back bonus types explained.
Welcome Bonus Cashbacks
The best part about signing up to a new casino is claiming a juicy welcome bonus that makes it all worthwhile. Sometimes these bonuses could also include a cashback that will include any wagers done with your bonus credits. In this case, traditional wagering requirements will usually still apply, but cashbacks make it easier to fulfil those requirements.
While Welcome Bonuses generally refer to the first (or first couple) of deposits, Reload Bonuses focus on the subsequent bankroll top-ups that might follow. This type of bonus is created to make your Welcome Bonus last longer and is generally applied to your deposit rather than your losses, making it somewhat more guaranteed in a sense.
Cashback on Wagers
Cashback bonuses on your total bets started out as sportsbook bonuses, but lately we’ve seen a little crossover here so they might also be worth mentioning as well. Rather than applying a blanket cashback on every real money bet placed, these bonus types are usually reserved to specific games, events, or bet types. Once again (and we cannot stress this enough!) it’s always handy to check out the bonus terms first to make sure you’re getting what you signed up for.
Cashbacks on House Wins
Cashback based on casino losses are the most common form of bonus out there and will offer returning customers the chance to recoup some of their losses on a daily or weekly basis which can range from anywhere between 5-20%.
In some cases, these types of cashbacks could be linked to VIP or loyalty programs, which can eventually be claimed once the desired status is unlocked. As a general rule, VIP cashbacks tend to be more generous due to the higher number of transactions involved.
How to Maximize Cashback Bonuses
If you’re looking to make the most out of your next cashback bonus, here are a couple of handy tips to keep in mind:
Keep an eye out for online casinos that offer the best cashback bonuses, the higher the rate the more funds you’re able to recoup on your losses.
Make sure you’re playing qualifying games that contribute towards your bonus.
Read the T&Cs carefully to make sure you understand what’s required from your end in order to qualify for the bonus.
As always, only wager what you can afford to lose to avoid any nasty surprises at a later stage.
Why Cashback Bonuses Are Awesome
Without a shadow of a doubt, cashback bonuses represent some of the best casino offerings out there as they include very little drawbacks most of the time. Apart from boosting your bankroll and extending your game time, wagering requirements tied to these bonuses are usually very low or nonexistent. Even though other bonuses may appear to be larger most of the time at first glance, these bonuses allow the casino to return money you’ve already lost – and how many times does that happen really?