How does a cashback bonus work?
February 3, 2022
Online casinos generally offer bonuses or rewards to their players at frequent intervals. This is done to sustain their loyalty towards gambling. These bonuses are also called cashback bonuses. When the players are low on luck, these cashback bonuses are offered as generous compensation.
Casino cashback bonus details
Cashback bonuses are usually offered in casino slot games. These bonuses are equivalent to a certain percentage of the lost bet up to a maximum limit.
For example, if a cashback bonus offers a 10% cashback bonus up to $100, it implies that the player can receive a maximum of $100 on losing the bet. You need to read the terms and conditions on the gambling site to know about these limitations.
Difference between cashback bonus and casino bonus
The criteria for offering cashback bonus and casino bonus is very different. Cashback bonuses are only given to players who have suffered a loss. A percentage of that loss is returned. Casino bonuses are awarded regardless of a win or loss and tend to require a deposit from the player.
Best CashBack Bonuses in the US
How to claim a cashback Bonus
Claiming cashback bonus amounts is simple. It does not depend on the payment method. The casino automatically gives money to your account once all the requirements are met. While the credit will take place instantly, withdrawal might take some time. This will solely depend on the payment method used.
The amount that you will receive depends on the cashback bonus scheme of the casino. It will also depend on the money that you have lost in the bet. Few Casinos only give cashback bonuses to their VIP members. Thus, you need to check the criteria before betting on a certain website.
Wagering requirements for getting cashback bonus
Do not worry, as there are usually no wagering requirements for getting cashback bonuses in most casinos. This is because these bonuses are offered after the player has already placed and lost a bet. However, the only limitation is a maximum cap by the casino. This implies that there is a limit to what amount you will get. This is irrespective of your lost amount.
In order to find authentic sites that offer good cashback bonuses, make sure they have a valid license. The top license providers are MGA, Curaçao Government, UKGC, Government of Gibraltar, and Kahnawake Gambling Commission.
Pros and cons of cashback bonus
There are many advantages and disadvantages of cashback bonuses. However, the pros outweigh the cons.
- You get better returns
- This offer is applicable to loyal players who are consistent in playing
- There are no wagering criteria
- There is a maximum limit of the cashback bonus. This implies that you cannot get more than a certain amount irrespective of your losses
- The cashback bonus is not offered by every casino
Although the pros of a cashback bonus outnumber its cons, you still need to practice responsible gambling. There might be returns even after you have lost bets. However, it is way less than your investment, so do not get swayed.
How can I claim a cashback bonus?
You need to opt for the casino promotion to avail yourself of a cashback bonus. This implies inputting a certain bonus code. Sometimes, you also need to click on a link that basically gives the site permission to include your account in the offer.
Is a cashback bonus and welcome bonus different?
Yes. A welcome bonus is offered to new players when they join a casino. A cashback bonus, on the other hand, is offered to already existing loyal players. It is done to motivate them to play more.
Do I get a cashback bonus instantly?
Yes. Cashback bonuses are credited to your account instantly. However, the withdrawal may take time, depending on your payment method.