Real Cashback Casino Rewards
Casinos offering real cashback to every player was a rare sight up to the end of the second decade. Until then, this perk was mostly exclusive to high rollers whom operators always tried to retain in any way they could. But the immensely competitive gaming world basically forced their hand to look for new ways of holding on to an increasingly unloyal player base. These days, a typical welcome bonus package is often not enough to ensure a new arrival will become a returning player.
Whereas years ago, people would mostly stick to their main gaming hangouts, they are now constantly hunting for the best deals. One of the most favourable offers for players is real cashback on net losses, which means nothing else than pure cash being placed into their accounts should they have an unlucky session. What makes it so attractive is the fact that there are no wagering requirements attached, everyone can simply withdraw at any time or keep playing.
The best real cashback casinos are those that do not apply a maximum limit a player can receive per day, week or month. However, a good number of operators do limit how much can be cashed out, expressed in either a multiple of the received cashback or as a fixed maximum amount.
How Cashback Rewards Are Calculated
Casino operators use a variety of formulas to calculate the cashback. An advertised 5% or 10% is thus not always really 5% or 10%. The devil is in the detail as the saying goes. The easiest way to find out is to read the terms for the cashback and make sure to skim them at least quickly to avoid any potential disappointment.
Net Losses
The most straightforward form of real cashback is based on a simple formula. You deposit and lose, you get the advertised percentage credited to your account, be that daily, weekly, monthly or in some cases even instantly after your balance hits zero. No wagering requirements or other strings attached to it. The formula is as follows:
Bonus-free Deposits – Cashouts x Percentage = Your Cashback
As an example, if you deposited €100 and lost it without taking any bonuses or making a cashout, and the percentage offered by the casino is 10%, you will get €10 cashback. This will be credited to your account as per the advertised schedule. Some casinos will ask you to contact customer support within a limited period to claim your cashback. Once it is in your player account, you are free to do what you want, withdraw (if above minimum cashout level) or play more games.
Gameplay
Some casinos use a different way to calculate cashback which could lead to a smaller return compared to the Net Losses formula. Based on the calculation, you will still receive let’s say 10% but it might not be 10% of your lost deposit.
Stakes – Returns x Percentage = Your Cashback
We take the same example with a deposit of €100 and a 10% cashback to keep it simple. Should you play for some time and achieve an RTP of 95% for your session, you staked and lost your deposit but the gameplay returned a net 95%. Thus the basis for your cashback calculation is the return, giving you considerably less than the advertised 10%.
Wagering Cashback
A few select operators such as Videoslots and Mr. Vegas offer real cashback derived from the total amount wagered on their games within a week. A casino earns revenue based on how much its players stake on their games. From that revenue, which is on average 4-5%, they offer a percentage as cashback to active players.
Amount Staked x RTP of Played Games x Percentage = Your Cashback
The RTP plays a vital role in the calculation of this type of cashback. Typically, you will get the full advertised percentage on games with 96% RTP. Any higher will result in lower cashback while lower RTPs will increase the amount. Beware, an advertised 10% cashback is actually a percentage of their net gaming revenue and thus lower than a straight 10% for a lost deposit.
The Best Cashback
Cashback should always be seen as a perk, a reward, an extra that players receive from the casino. There is no obligation to offer it to anyone, although the highly competitive gaming market is basically dictating operators to come up with novel ideas to earn the loyalty of players. Real cashback has proven to be a powerful retention tool as many customers prefer to receive an automatic and bonus-free reward.
The most favoured option is the real cashback on net losses as it gives players a straightforward percentage with no strings attached. Deposit, play, lose and collect cashback, simple and effective. The second best choice would be the cashback based on wagering. The more you wager, the more you earn. On a good day, you could earn more cashback than your initial deposit. On the opposite end, a poor session will result in a very low reward.
