Cashback is one of the many bonuses offered by online casinos. For the player, cashback is a bit like insurance: if luck is not in your favor, the online casino is guaranteed to return a small portion of the lost money in the form of cashback.
Cashback is almost always granted in real money, which does not come with any wagering requirements attached. By taking advantage of a cashback casino online bonus, the player can therefore reduce the risk of loss.
In this article, you will find lots of information about the cashback bonus and how it works.
Is a Cashback Bonus Worth Claiming?
Cashback is a casino bonus that the casino pays the player based on his net losses.The money awarded as cashback is, as the name suggests, cash, so you can play with it like real money – or withdraw it.
Cashback offers are usually offered in the following format, for example:15% cashback up to $100.
In the example above, the maximum cash refund would be $100, and the amount of the cashback would correspond to 15% of the net losses that have occurred during the validity period of the campaign. n Net losses are calculated by subtracting real money bets from total profits.
Let’s take a look at another example.
- You used up $100 for playing casino games, but only have $20 left after your gambling sessions.
- So your net losses are $100 – $20 = $80.
- The casino grants you 20% cash back.
- You get 0.2 x $80 = $16 cashback.
Most of the time, the cashback ranges between 5–20%, and can get as high as 100%. In such cases, the maximum refund may be limited to a much smaller amount. Just like other bonuses, there are also different types of cashback. Some casinos offer cashback as a welcome casino online bonus, while others offer cashback on a daily, weekly, or monthly basis.
In addition, there is cashback for VIP players, which can get much higher than regular cashback.
Cashback as a Welcome Bonus
Cashback has recently become a big part of casino’s welcome packages, especially in Pay N Play casinos. These casinos focus mainly on real money bonuses, so it is only natural that these bonuses also come in the form of cash.
The maximum cashback amount varies from casino to casino and is typically around $100–$200.
Daily, Weekly, and Monthly Cashback
Many casinos offer their players daily, weekly or monthly cashback as so-called continuous bonus offers. These offers are therefore valid all the time within the mentioned timeframe.
Daily cashback is awarded based on losses incurred during a certain campaign day, weekly cashback is awarded based on losses incurred during a week, and monthly cashback is awarded based on losses incurred during a month.
Cashback for VIP players
In the beginning, cashback was mainly a casino online bonus offered for VIP players, but they have since become a lot more common. However, many casinos still have their own cashback offers for VIP players, which can be much higher than usual.
VIP players can enjoy not only higher maximum return limits but also larger return percentages. Depending on their gaming activity, they can be offered up to 50% or 100% cashback, and the maximum amounts can be hundreds or even thousands of dollars.
How to Claim Cashback in an Online Casino
Claiming cashback is really simple – in some casinos, it’s even easier than claiming deposit bonuses or free spins. This is because the vast majority of cashback bonuses are added automatically to your account balance.
Cashback is a kind of “win-win” casino online bonus for the player. When receiving cashback, the player has already lost the corresponding amount once, so by returning part of the losses, the casino offers its players another chance to win. Since you’ve already lost once, you can only win with a cash refund.