Cashback Bonuses
A cashback bonus is one that guarantees a return of a sum of money wagered or lost at a casino. Typically offered as a percentage of losses, the average casino cashback bonus in 2023 is 10%, which is usually paid after a qualifying time period. Using this example, €100 in losses would return €10 cashback.
Casino cashback can be paid in cash or as bonus money with terms and conditions attached and comes in numerous forms. For many online casinos, cashback is a mainstay of its reward program, sometimes offered to all, and at other times, kept for the most loyal of players or select VIPs.
In any case, cashback is one of the most popular casino promotions you will find, leaving players hunting high and low for the best cashback deals, such as real money cashback, cashback with low wagering conditions, or with no sticky terms or stifling conditions attached.
Different Types of Casino Cashback
There are three main types of cashback deals you will find at online casinos:
- Real Money Cashback
- Bonus Money Cashback
- Rollover Cashback
Real money cashback speaks for itself; a given percentage of losses, according to the terms of the offer, is credited to your account with no quibbles by the casino. Also known as wager-free cashback or zero-wagering cashback, this is the most desirable of casino cashback offers because of its hassle-free returns.
A bonus cashback promotion will require you to wager the awarded sum a certain number of times before being available for withdrawal. For example, a €10 cashback bonus with a 40x wagering requirement would mean that €400 would need to be wagered in bets through the casino before releasing any funds.
Lastly, some casinos place a rollover condition on their cashback. Found in the offer’s terms and conditions, ‘rollover’ is a term used to describe a lower-than-average wagering requirement. A 1x rollover cashback condition means the awarded sum must be played once through the casino before being cleared for withdrawal.
What to Look Out For
If the idea of cashback appeals, keep an eye out for casinos that offer cashback on a continual basis. Many online casinos promote ongoing cashback, perpetually awarded for each lost deposit. This type of open-ended cashback promotion is usually automated and credited to your account at a particular time of day.
As with any casino promotion, only by checking the terms and conditions can you truly assess the attraction. Before accepting any form of cashback bonus, check the terms and conditions for possible restrictions on the advertised reward. If in doubt, clarify what’s on offer with customer support so you have a complete understanding of the rules of play.
Real money cashback is not always as alluring as it sounds; watch out for any cap on the amount awarded, or a rollover requirement before any cashout. There may be a list of excluded games found under terms and conditions to avoid when converting a cashback bonus, bonus buys may also be excluded, or there could be maximum bet limits that apply.
In short, every deal has stipulations to be met before cashback is awarded. Some require a minimum amount of money to be spent at the casino, and many are conducted over a certain time period, such as 24 hours, before being paid. Cashback is not always paid automatically, and some casinos will require you to claim with customer support.
Any online casino promotion, bonus offer or reward can be subject to being fully verified and checked by the casino. For many, this is a legislative requirement of casino licensing. From Source of Wealth enquiries to basic identity and address verification, online casinos are obliged to carry out basic checks and anti-money laundering procedures.
The general rule of thumb to achieve uninterrupted gameplay and the smoothest casino sessions is to carry out any verification requests from the casino as soon as possible. For many reasons, like taking advantage of cashback bonuses or reaping the rewards of a loyalty scheme, it is best practice to fully verify your account upon joining an online casino.
VIP Cashback and Loyalty Schemes
Cashback is often promoted to VIPs to compensate for their losses and help keep them loyal. VIP cashback is sometimes tailored to the client and usually comes at a higher percentage than the 10% cashback offered to the average player. VIP cashback has been as high as 40% and might be offered at the casino’s discretion.
Used as a tool to cultivate loyalty, cashback is widely found in casino reward programs. Such schemes are designed to award casino perks or bonus offers, whose value increases with player activity. A tiered cashback offer laid out within a loyalty scheme will reward increased cashback percentages with each level attained.
A typical example might be a five-tiered loyalty scheme starting at level 1 with 10% cashback on losses, increasing by 2% with each level until reaching a 20% cashback award for attaining level 5. The terms and conditions of the scheme will explain what activity qualifies and to what extent it must be carried out to advance.
A Word of Caution
Although a cashback bonus will compensate, to some extent, for lost deposits, you should still gamble what you can afford from your disposable income, regardless of the deal on offer. Cashback should never be used as an excuse to be frivolous at the tables, on the slots, when placing sports bets, or enjoying the mesmerising thrills of live casino entertainment.
Casino cashback should be taken at face value, and treated as the promotional perk that it is, not as a reason to spend extra or play more often. Responsible gambling limits are available at many online casinos, which are a useful tool to prevent you from overspending, along with timed reminders and facilities to block your account for an agreed length of time
Should you ever be concerned about possible negative side effects of gambling, there is a wealth of charitable organisations and lines of support ready to talk 24 hours a day. Those who feel the need for support should speak with family and friends or reach out locally. A worldwide list of organisations can be found at The National Council of Problem Gambling
Photos courtesy of Alfred Quartey & Omid Armin on Unsplash
