Finding the right type of bonus is a part of finding the right online casino. Cashbacks are one type of bonus that you can base your search on. You can find this kind of offer in most reputable casinos online, as it is immensely helpful and useful. Cashbacks can either be viewed as simply another bonus or a safety net in a way, keeping you from burning out completely.
However, it is worth keeping in mind the fact that the funds that you will get from cashbacks will most likely be far from the sum you started your session with. This is simply an incentive offered by online casinos and it is not recommended that you rely heavily on it.
You can always give this bonus a try and see how you like it because there is a lot to take away from it. A lot depends on the type of cashback bonus you choose to claim. You can make some extra money while playing just as you usually do, you can minimize your losses, or you can get some extra playing money.
In any case, cashbacks are definitely worth your consideration because they come with either no wagering requirements or such that are lower than a casino’s regular ones. Here, we will help you acquaint yourself with them and all details that are concerned.
What Are Cashbacks
Cashbacks are a type of promotional offer that online casinos feature. Usually, they offer a player a percentage of their losses back. They can work in a number of ways depending on the type of cashback bonus the casino offers. You can easily find all kinds of cashback offers, so if you are not satisfied with the one your current casino has, then you can simply try out a new one.
A cashback offer can be claimed while depositing, in most cases. They are usually about 20% of the total deposit amount and do not exceed $200. Cashback bonuses are given in real money funds, though they can also be in bonus funds. If they are in bonus funds, the wagering requirements are lower than the regular ones for the casino.
Sometimes the cashback you receive can depend on the games you have placed bets on. Just like with wagering requirements, different games may have different contributions. We always recommend you check the full terms and conditions of any promotional offer before you claim it or start playing.
This promotional offer is unlike most others as it gives you only one way to go which is up. So, regardless of whether you receive some bonus funds or cash, this way your account will not be empty. Naturally, to most players the difference between bonus funds and cash is quite significant, therefore we will present you with both types and more.
Who Can Use Them
This depends on the casino you have picked, however, cashbacks are usually available to all players. In order to get the cashback, you will need to meet the requirements of the promotional offer of the casino you have picked. Sometimes that can mean losing a lot of money, if not your entire deposit. Other times you might be able to use the separate losing bets you have made along the way and accumulate funds over time.
Other terms may include losing for an entire week, without any wins at all. Mostly, though, you will receive a cashback based solely on the amount of money you’ve lost or deposited. It is also worth noting that sometimes VIP players receive better cashbacks. Other terms may include cashbacks only on specific games, so you will have to read through the conditions to make sure your favorite games are included.
Among the most commonly found terms are that your last transaction cannot have been a withdrawal and that you must not have claimed any other deposit bonus. In other cases, the conditions may be that you could have opted in for a limited number of deposit bonuses. This is one of the reasons why it is recommended that you read the bonus terms and conditions of every online casino offer you wish to claim.
The Purpose of Cashbacks
The idea behind cashbacks is not simply for players to get another bonus, but for them to feel more secure. It helps to know that you have something to fall back on even if it is a small amount. Even if it is bonus money, it is a way to continue playing and try to win some of your losses back.
Naturally, it is in no way a responsible way of controlling your bankroll, so you must not think of it as such. You should never base your real-money wagers, nor your total bankroll, on a promotional offer. Money management is crucial to all types of gambling, including online.
So, the purpose of cashbacks is to provide players with some sort of reward even when they are not winning. They will not help you make profit, they can only help you get back on track when you have experienced some losses or a whole losing streak. Of course, you can always use a cashback to try and turn your losses around.
Why Online Casinos Offer Them
Online casinos have taken to offering cashbacks as a way of attracting more players and inviting low-rollers to place larger bets with a reduced risk. It is a brilliant marketing technique that is beneficial to both operators and players alike. It is basically a reward for losing which simply means that you will not be left with an empty account and you will be able to continue playing.
Of course, there is always a cap to this bonus, like most others, and it is more likely to be high if the percentage of the cashback is really low. The plain truth is that you will be spending a lot more than you will receive back from the casino. This is why you should always check the terms and conditions of the bonus you have picked sometimes even before registering with the casino. This depends solely on whether a cashback bonus is a part of your requirements list for an online gambling venue.
Types of Cashbacks
There are several types of cashback bonuses that you can find online. As previously stated, most of them represent a percentage of the sum you have lost. It can be based on the deposit you have made and lost, which would require you to have lost your entire deposit. It can also be based on the amount you have lost, regardless of how much you have last deposited in your account. Lastly, it can be based on the separate losing bets you have made.
It is safe to say that every online casino has its own spin on almost everything and this is no exception. You will find all sorts of cashback bonuses on the web and this simply gives you a greater variety. For the most part, cashbacks are based on the sum you have deposited, in one way or another, and you will be able to withdraw immediately after your account has been credited with this real-money bonus.
Another difference between the different types of cashback bonuses is whether they are monthly, weekly or daily offers. This is another variable that online casinos tinker with. You can find these three as well as others. However, the main way to classify them is based on whether they are real-money, bonus money, or bet-based cashback offers.
Real Money Cashbacks
This is the type of cashback bonus to be on the lookout for. It’s always great to get a prize after a losing streak and if that prize is some of the cash you lost, well then all the better. As we already mentioned, it is a fairly small percentage in most cases and it is either based on the size of your deposit or on the losing bets you have made.
Typically, you receive about 20% back at the most but in real money. This means that you do not have any wagering requirements to meet and you can just withdraw your cash. Of course, once again, you need to take a look at the terms and conditions of the bonus and make sure you are perfectly aware of the exact requirements for it.
One of the things to pay close attention to is how often you can use this bonus. Some casinos do it daily, others weekly, others monthly. You have to know when the time is right for you to use a cashback bonus. This requires some planning ahead but it will pay off. By that we mean, that if you plan on having a session with a more substantial bankroll than usual, it may be wiser to wait until then to claim the bonus, just in case you have a losing streak, in order to minimize your losses.
Another thing to be on the lookout for is whether this bonus is available for bets lost on all games or only specific ones. For instance, if you are a poker player, and your game is not included, you will not be able to take advantage of this great bonus.
Bonus Money Cashbacks
Another type of cashback bonus that you will find at an online casino is one that gives you a portion of your lost cash in bonus funds. If there is one thing to know about bonus funds, it is that they come with giant wagering requirements. However, with this type of promotional offer, the wagering requirements are far smaller. In fact, most require you to play through them only once.
Of course, it is far better to simply have instantly withdrawable funds but given that the wagering requirements for this bonus are so low, it is still definitely worth claiming. There is always a chance that you are unable to meet them but you will have at least 24 hours to simply wager a fairly small sum only once.
Naturally, there are those casinos that have higher wagering requirements but it is uncommon. They may go up to about x20. It is best to find a better offer in those cases as there are plenty of reputable online casinos around and they all have gigantic libraries of games.
Something that must always be done when it comes to bonus funds is to check how exactly a player can meet the wagering requirements. They can be different for this particular bonus, but they can also be the standard ones the online casino of your choice uses. You need to check the table with contributions to the completion of the wagering requirements of all games. It can be easily found either on the same page as the bonus you wish to claim or on the terms and conditions page of an online casino. In case you are not certain whether something applies to the promotional offer you wish to claim, you can always check with customer support.
Bet-based Cashbacks
These are similar to loyalty points you can receive in a casino as they are based on each separate bet you make. Of course, a large difference between the two is the fact that loyalty points have a conversion rate while a cashback bonus of this type will most likely be in cash.
They are usually available only on specific games or have a different accumulation rate based on the game you are playing. Additionally, bet-based cashback bonuses are smaller, so while you can get a 20% cashback based on your deposit in most casinos, with this one you will receive bonus funds that are usually less than 1% of your bet.
They differ largely from other types of cashback bonuses because it is better to simply use them continuously, regardless of your bankroll and accumulate a withdrawable sum over time. However, we once again advise you to carefully read through the terms and conditions and make sure there are no strings attached to this bonus, or that if there are, they come as no surprise to you.
Overall, any type of cashback bonus is a no-brainer – you have nothing to lose and everything to gain, so it is never a bad idea to take advantage of this amazing promotional offer. It is certainly worth considering and, in fact, even basing your casino preferences on.
Best Cashback Casinos
As you can see, there are many factors to consider when picking a cashback casino. If it only has a great cashback offer but no variety of games, or not the ones you would prefer, it may not be worth your while. Your personal taste matters a lot, so we have made sure that the cashback casinos we recommend will include any and all games you may wish to play.
That is why we have created a list of the best cashback casinos at the moment. They have all been evaluated in a number of ways so we can be certain that they meet our standards and yours. You can rest assured that you will find a large variety of games, great promotional terms, and, of course, security and fairness. You can find information about them and their cashback offers below.
