Cashback Casinos: Meaning, Benefits, and Variations
Welcome packages are designed to entice you to play at a casino and usually have a generous bonus included. However, cashback bonuses are available to new and existing players and are intended to reward players for their loyalty at a casino. Casinos will normally offer a certain percentage of cashback to players and credit this onto the players' account.
So essentially, even though you have lost money, the casino is generous enough to recognise this and award you with a specific percentage of your loss. You could think of a cashback casino offer as an insurance on the money that you have deposited.
How to use Cashback Casinos to Maximise your iGaming experience
Cashback deals have proven their success in the reward-based credit cards and in the retail industry, while credit cards were correctly banned in order to protect problem gambling. Cashback will definitely stay with more online casinos adhering to these welcome offers, those help players recover their losses with real money coming back to your account.
Attract your money back like Magnet
Online Gambling is highly competitive, thus the gambling companies have to think outside the box and find a way to retain their customers. More genuinely, deals of this nature are enticed to keep you playing.
What if we told you that having a few cashback accounts at different online casinos, could help you at least get some of your funds back?
Yes, that’s possible, thus it gives you the option to choose the best cashback offer to keep playing with.
You can sign up; do your KYC customer verification; deposit; wager your money, risk losing to win, if not at least get some percentage of it back
Instead of constantly looking for the next casino offer to sign up to, we’ve done the industry research for you and we are showing you the best cashback deals with no hidden catches.
What types of deals are out there at Cashback Casinos?
Cashback offers are rarely the same at every casino and they tend to differ depending on the original bonus offer. The majority of casinos offer 10% cashback with some also offering 5% cashback or even up to 20%.
Let's first take a look at cashback bonuses based on your net losses - the most straightforward cashback deal. No matter what the other terms of the bonus are, you will earn a percentage of your losses back as cashback.
Next, there is cashback dependent on game RTP and this type of cashback offer is appealing to players who like to know the exact chance of success on a slot. Let's say a certain game has an RTP of 96.4%, some casinos will offer cashback that will boost this amount to the nearest whole number for example up to 97%. The casino cannot actually increase the RTP of a slot game since the slot game is operated by 3rd party software, but they can give players that 0.6% difference in the form of cashback. This type of cashback lets you play your favourite games with a higher chance of success.
Casinos reward players with cashback depending on their position on a leaderboard at the end of every month. This leaderboard tends to rank players according to how much they have played at the casino in that particular month and how much they have lost. If by the end of the month you have not had a bad month in terms of losses then cashback will not usually be awarded. On the flip side, if the snapshot of your account for the month shows that you have ended up in negative figures then cashback will be added to your account balance.
20% CASHBACK Everyday
ON SLOT LOSSES - Min. Deposit ($/€10)
+ Only | T&C's Apply | BeGambleAware
400% UP TO CA$2250/€1500 (45x WR)
400% upon 4 DEPOSIts Min.€/$10
150% Up to C$/€100 upon 1st deposit
BEST FOR PLAYERS FROM
100% UP TO £100 (35x WR)
+ 10% cASHBACK Min. Deposit (£10)
100% UP TO £123 (50x WR)
+ 10% cASHBACK Min. Deposit ($/€/£10)
MALTA & UK LICENSED
15% CASHBACK + 200 SPINS (40x WR)
ON BOOK OF DEAd - Min. Deposit (€/£20)
150% UP TO £/$/€300 Bonus (40x W)
100% up to £/$/€100 upon 1ST DEPOSIT
£/$/€10 + 10% Cashback
BEST FOR PLAYERS FROM
MALTA, SWEDEN & UK LICENSE
How are Cashback Casino offers calculated?
Some online casinos award players between 5% - 25% cash given back to your account daily or weekly. Technically the more you stake, the bigger slice of the pizza you’ll get.
Let's say you are playing at a casino who offer 10% cashback and you deposit £1000 but you lose it all. Thanks to the 10% cashback, you're given £100 back into your balance to play with. This is a simple example but most casinos work the same way with their cashback offers.
A casino cashback offer is a way of players recouping a percentage of the amount they have deposited and lost. As we mentioned, cashback offers have different triggers and clauses. Some will require you to play during a certain time of the week or month, others will require you to play on specific games, sometimes you'll need to contact support to be given the cashback amount. Progressive slots with jackpots are not usually included in these offers because casinos have to manage their given bonuses minus expenses such as bonus tax and regulations.
Typical Terms and Conditions for Casino Cashback Deals
Terms and conditions are never the same from one casino to the next. We always advise you to check the terms and conditions for every specific casino you like the look of. However, there are some fairly standard terms for cashback offers:
Players must be 18 or over.
A maximum cashback amount applies.
Players who are judged to be abusing the cashback system will have their bonus revoked and voided.
If the cashback offer requires you to contact support or enter a bonus code, you must do so to receive your cashback.
These standard cashback terms do not include the rest of the casino’s general terms and conditions and do not replace them. Studying both of these is essential in ensuring you make the most of the cashback offer at a casino.
Some casinos may have wagering requirements set on their cashback offer. This meaning that you must wager the cashback in order to withdraw it. For example, a casino cashback offer may look like - “10% cashback on all Book of Dead Slot losses, up to a maximum of £10 with 2x wagering requirements”
The first thing you must notice is that the cashback offer is only available when you lose your money on the Book of Dead slot. Also, the total available cashback is £10 which means you would need to have deposited and lost £100. Additionally, once the £10 is claimed, it needs to be wagered 2 times in order to be withdrawn.
Restrictions to keep an eye out for
Casinos offering cashback deals often have quite low maximum payouts, otherwise unlimited cashback offers would be absolutely ideal for problem gamblers and even money-laundering.
Cashback Casubis aren’t given away without players following exactly how the casino wants them to play. This doesn’t mean it has to restrict the way you play; you just need to play smartly.
Make sure you know the exact terms of the cashback offer as it may only be available on certain games or days.
Casinos will not offer unlimited cashback offers. At some casinos, a cashback offer may only be used for certain players for example VIP’s or there may be a limit on how much you need to lose in order to get cashback. Also, there may be a limit on the maximum money the casino will award as cashback. So, for high-value depositors or VIP players, it may be worth checking out an offer that has a higher percentage or a higher limit on the cashback.
Play Responsibly includes depositing only what you can afford to lose. Do not rely on the money you will get back from your losses. Remember it is not a refund, it is only a percentage of what you have already lost.
Summary of Cashback Casinos
There are a few things you’ll always want to check before you take a cashback bonus:
Cashback or match bonus – deciding to take up a cashback offer may be beneficial in the long run, but if you have any doubts about the casino then perhaps a match bonus would be a better deal. If the casino functions well, has plenty of games, has great support options then you’ll more than likely stick around and return to the casino a few times. In this scenario, a cashback offer will earn you much more in the long term.
Opt-in – So you’ve sacrificed a match bonus for a cashback offer. You must do everything to make sure you earn that cashback. Whether that means playing on certain days, contacting support at the relevant times, adding the correct promo codes or playing the right games, the rules of the cashback offer should always be in the back of your mind.
Remember, this only helps if you’re losing – you probably aren’t signing up and depositing at a new casino with the intention of losing your money. Satisfy the terms and conditions then focus on winning, with the peace of mind of the cashback bonus is there in case you happen to lose.