While they may be overshadowed by some of the more common casino bonuses on the market like cash bonuses or free spins, the beauty of a Cashback Bonus shouldn’t be understated. As is the case with all bonuses, they are a reward for being a member of the casino. However, unlike the other two options, they will usually be required further on down the line in your tenure as a member of the casino as opposed to being a welcome bonus. The reason for this is inherent of the nature of a Cashback Bonus but in the long run, they still benefit you in a very similar way. While you may already comprehend the basic concept, this page is dedicated to specifically explaining more about how they work and how you can get involved with them.
What is a Cashback Bonus?
The name “Cashback” Bonuses gives the biggest insight into what they are. Yes, you guessed it, a Cashback Bonus is a bonus that comes in the form of some of the money you have used on at a casino coming back to you. This is why they usually become active further into your tenure at an online casino as you will need to have played on the casino for a while to have accumulated any funds that you can then claim cashback on.
The Cashback Bonus amount will usually be in the form percentage. For example, a casino may dictate you get 30% Cashback over a period of time and so, if you wagered €100 you will get €30 back. The first thing that comes clear then is that the more you spend, the more cashback you will be eligible for. However, this is just one basic example and the nature of cashback can take multiple forms at an online casino which we will discuss next,
Money Spent, Money Lost, and Money Won Cashback
While the concept of Cashback is fairly straight forward there are a couple of variations or styles of cashback that are available to. The 3 main types are Money Spent Cashback, Money Lost Cashback and Won Cashback. Let’s take a look at how these vary.
Money Spent Cashback
The most common Cashback Bonus is Money Spent cashback and works in the example found in the above section shows. Essentially, this will give you a cashback percentage based on the total amount of money you have spent, irrespective of whether you won or lost while playing with it. This is good as regardless of the scenario it is a win,-win. This is because If you have lost money while playing then this Cashback Bonus will allow you to reclaim some of it, while if you have won you will get a boost. As such, you can’t go wrong with this type of deal.
Money Lost Cashback
This will be Cashback will be calculated and awarded to you based ONLY on the amount you have lost. As such, it can help minimise losses that you might incur while playing games and so limits the inherent risk involved in gambling because you will know you will get at least some of the funds back irrespective of what happens. This too provides a win-win situation, as if you never end up using it then it means you are on a winning streak, which is positive. The danger though is these may be offered with a time limit, often as a welcome bonus, so if you claim it then you win for the time it is valid and it expires, you can run the risk of wasting it.
Money Won Cashback
Sometimes called Top-up Cashback, this is the complete opposite to Money Lost Cashback as it essentially gives you money back that is based on your winnings by a percentage. As such, if you win €100 and there is a 10% Money Won Cashback deal active then you will get €110. Of course, though, if you lose you will get nothing. Essentially, this is probably the worse option for a cashback deal as while you may be winning more, you won’t actually be limiting your risk of getting nothing back in the end. As such, the above two cashback options should be utilised over this option.
There are numerous casinos out there that run continuous cashback without you actually needing to enter into a deal. In the case of most cashback deals, you will enter into a cashback deal for say, 10% cashback for 7 days, With a continuous cashback deal, a casino will constantly keep track of your playing behaviour and record amounts gradually over time. Generally, these will be lower amounts of 2% but due to the unlimited time scale involved will earn you more. If this in place, you will usually have the choice to accumulate it over time and use it as a little nest egg for a rainy day, or cashing it out immediately and putting it back into the games you love.
It may the case that you longer you keep it, the more money you will earn, or a casino may even higher percentages based on the amount you spend in a day or week, as a form of loyalty bonus. Either way, a casino with this in place is always good.
The biggest T&C involved with cashback bonuses that they will nearly always be bonus cash as opposed to real cash so you won’t have any choice with the money other then to invest it back into the casino. Often, you will need to do this numerous times to turn it into real cash. These is known as wagering requirements.
Another big T&C might be, as we have mentioned, a time limit where the cashback offer is valid for you to benefit from. On the topic of time, the cashback funds might also only eligible to be claimed for a number of days too. There is also usually a limit on the amount of cashback you can accumulate, so you will stop earning cashback at this point, or there may be only selected games that are eligible to earn cashback on.
It will vary from casino to casino but it will come in a percentage format which means that the total amount will usually reflect what you put in.
It is hard to say an exact number but there is plenty out there which you will find on our page by reading our casino reviews.
This will usually be specified prior claiming the bonus but generally, they are fairly all-inclusive.