Some online casinos offer cashback bonuses to reward players by paying back a percentage of their losses over a set period.
The best part about casino cashback, is unlike regular bonuses, these are risk free and should always be used.
Now it might surprise some of you, but the majority of welcome and match bonuses are, in fact, to the benefit of the house more than the players. We have elaborated on the topic in the cashable casino bonus section, so just in a few words…
Due to the terms attached to these promotions, in most cases you have higher odds of cashing out without using any bonus. That makes sense, since online casinos usually aren’t the ones losing money.
And while the operator only needs a positive balance in the whole operation, they still need to make sure these bonuses give them enough of an edge. So they always come with conditions, such as playthrough, max bet limits, etc. Not to mention that many of them are, in fact, non-cashable or phantom bonuses.
On the other hand, cashback bonuses are a type of free money given to you. Obviously, they aren’t really free since you “had” to lose to get them, but once you’ve lost, it is free cash. They also tend to have much looser terms attached. They only come into play when the casino is already ahead, so the terms can be more player-friendly.
In this review you will find...
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💰 A Refund of Losses Is Always Nice
With casino cashback bonuses, the house refunds a portion of a player’s losses. They end up with a smaller take and less profit from the player over time, although in most cases they still keep a significant profit.
Players of course, are more than happy to get these deals, and no one has ever complained about getting some of their losses returned back to them of course, and this also effectively reduces the house edge on what they like to play, giving them more favorable odds after the fact, which is always a great deal.
So why do online casinos do this? Well, it’s another way of rewarding their preferred players, the ones who are playing at least fairly big. These are exactly the players they want coming back for more, and often the player will stay on and wager this cashback bonus amount, and perhaps some more of their own money as well.
Because competition for larger players at instant withdrawal casinos is higher, and brands make more per big player than with smaller ones, they are willing to offer extra rewards to retain their business.
❓ How To Get Cashback Bonuses
How much you need to lose to qualify for cashback bonuses does differ from one casino to the next. In some, it has to be a fairly significant amount, the level of play that stands out enough to be seen as deserving of extra rewards like this. In others, just the minimum deposit will do. You should, of course, look for casinos that actually offer cashback deals.
In some cases, cashback bonus deals are offered up front, along with the conditions necessary to qualify; in other words, how much you have to lose over what period, and what percentage is refunded to you. Even if this isn’t advertised, players may request a cashback bonus if they feel they deserve one, and often these deals aren’t advertised and are available by request only.
As more online casinos offer cashback deals, the trend is to offer them up front, and it’s always better for players when the casino shows its hand rather than leaving it to request or negotiation.
🖊️ Bottom line
Casino cashback bonuses are a great way to compensate for your losses. So if you play online casinos often, this is definitely a factor to consider. And since they are based on your losses, it’s a great way to get some bucks back.
As usual, you can expect some casino cashback bonus terms to be better than others. To get started, check whether they are cashable, whether they have low/no wagering requirements, a max cashout, etc. But as mentioned before, since it’s free money, you just need to know the terms to know what to expect, but they are always good.