You are probably familiar with some sort of loyalty programs in supermarkets- there’s a card you use every time when purchasing, you get points that can bring you discounts on future purchases. That’s pretty much the system cashback bonuses in online casinos rely upon, but instead of a discount, a player receives cash to play games over and over again.
Most commonly, it is a refund on losses over a set period of time, but some gambling websites offer a return on all deposits and wagers, regardless of the outcome. Such bonuses are available not only to existing players but very often to newly-registered punters as well, so to give them a good reason to visit that particular online gaming website over and over again.
What Are Cashback Bonuses
The cashback bonus is a type of casino promotion that allows a player to recover a small percentage of their losses. The percentage is usually fixed, and it varies from 5% to 10%. Speaking of fixed, it’s not rare to see that the amount of money that can be returned is capped itself. For example, an online casino may return 15% of all losses up to a max of $40 (or equivalent in other currencies).
Also, a fixed period of time is taken into account when calculating the amount of return, varying between a single day, 7 calendar days to a month. When the specified timeframe finishes, the casino will return a player money, making calculations based on all relevant factors.
The above-described example represents more or less an average example of a cashback bonus deal, but there’s another type as well. However, there’s also a rake cashback bonus, a type of online casino bonus where a player receives a return on all wagers and deposits, no matter what the outcome was (win or loss).
Such promotion is more often seen in sportsbooks due to the specific nature of games offered on such online gambling websites, but it can be seen on gambling sites that offer slot games , table games, and live dealer products as well.
Cashback bonuses see a certain amount of money returned to the player following losses over a predetermined period of time. So, let’s say that a site offers 10% weekly cashback. A player will receive a 10% return on all the losses from Monday to Sunday 23:59. As soon as the new Monday arrives, a new calculation period begins.
On the other hand, a reload bonus is paid when a player adds new funds to his/her online casino account. Worth noting is that cashback can be aimed at both new and existing players, while reload bonus is usually credited to players who have already made at least one deposit on that website.
So, in both situations, some money is added to the player’s account. In case of reload bonus deals, it’s the percentage derived from losses, while with reload bonuses, it is bonus cash added on deposits.
Before we proceed, it’s important to note that there’s a certain difference between a reload bonus and a match bonus. This type of casino offer sees players receiving match on any amount of deposit they make. Unlike reload bonus, a match bonus can be offered to first-time depositors as well, in the form of a welcome bonus package.
To put it simply- a match bonus can be part of the welcome bonus, while reload bonus is cannot be a welcome offer. A reload bonus can even be seen as some sub-category of match bonuses.
Why Do Players Love Cashback Bonuses
To become eligible to receive a cashback bonus, a player needs to follow quite simple steps- deposit,
play games and make losses. While not a single player visits an online casino to lose, it is simply unavoidable. There’s no game where every single round or hand is a winning one, so it’s something that goes along by default.
That’s the reason why the popularity of this particular type of bonus offer simply exploded. Punters were finally given a chance to return at least a portion of the money they lost. From a perspective of a casino, it’s not a huge amount of money to give away, as it actually gets a lot in return- a player who will come back over and over again.
Punters like cashback bonuses because they:
- Are simple to claim
- Reduce the amount of losses
- Usually come with zero wagering requirements
While it’s rather common to make mistakes with a cashback credit card, due to the inability to find a balance between costs and rewards, such thing cannot happen with a cashback bonus. As simple and plain as it sounds, this offer is designed to help players return some percentage of money on losses, that’s all.
How to Claim Cashback Bonuses
Similar to claiming free spins or bonus cash, it is of vital importance to get acquainted with the rules before opting for any bonus. First of all, check if cashback is credited automatically or it is necessary to apply for that bonus by entering enter a bonus/
coupon code.
Here’s what else to pay attention to:
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Qualifying deposit
Sometimes this bonus is available to all depositing players, but in some cases only to those who fund the account with the qualifying amount of money.
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Cashback percentage
As hinted earlier, the percentage amount may vary, ranging from 5%, 10% up to 20%, or in rare situations even higher than that. Also, the percentage may vary based on the amount of losses itself. For example, an online gambling website may offer 10% on losses up to $200, and 20% on losses that exceed this sum.
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Max cashback amount
It’s not only the percentage that varies, it’s the amount of potential cashback credited that differs from one site to another. The fixed level can be $50 or $100 on a weekly basis. Rarely any licensed online casino will offer unlimited amounts unless a player makes frequent and substantial deposits.
Worth noting is that members of Loyalty clubs may be eligible for better cashback bonus deals. In that case, it’s either the amount of cashback or percentage that is increased.
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Game contribution percentage
Losses on some games may bring more cashback than losses on others, which is, once again, up to each individual site to define. Online slots usually have the greatest contribution (usually 100%), while other genres such as Roulette, Blackjack , and other table games contribute less.
Generally speaking, these bonuses come with significantly fewer rules than any other type. They usually have no wagering requirements at all. On the other hand, it’s always wise to check whether they are restricted to specific countries, so as to avoid disappointments.
