What are cashback bonuses?
Are you looking for the best online casinos for cashback bonuses? Or do you want to know what a cashback bonus is and how it works?
Whether you are the money back professional looking for tips to make better use of the cashback bonus, or if you are a complete beginner looking for an all-in-one info pack on cashback bonuses, you will find everything worth knowing on this page and Important Around the Best Online Casino Cashback Bonuses.
Cashback means “money back” and that’s what this type of bonus is about. Part of the money you deposit into your casino account will be returned to you as a bonus. But only if you could not make a profit. So, the casino is trying to boost your streak of fortune and allow you to visit the casino again without having to make a new deposit.
Which cashback types are there, what to pay attention to this bonus and which is the best online casino for cashback bonuses, you will find out in the text below.
Cashback – If losing is worth it
Cashback bonuses are fundamentally different from all other bonus types. Because they are completely dependent on the gaming behavior of the customer. For many – often experienced – players, this bonus is confusing. Especially in German-speaking countries, as many casinos call their loyalty program simply cashback, even though it is something completely different. But we’ll talk about that later.
The Cashback Bonus is virtually a safety net for casino players, especially in case of big losses. It makes sure that after a perhaps too bold bet or an unhappy hand in poker you are not completely without money.
Which cashback types are there?
Daily cashback bonus
As the name implies, this is a bonus based on the losses spread over the day. For example, you lose 100 Euro on Monday, the cashback is 15%. You will be credited on Tuesday so 15 euros. Daily cashbacks are often only given for a specific time frame, for example as part of special promotions. So it’s worth keeping your eyes peeled for daily cashbacks, for example, before the coming holidays.
Weekly cashback bonus
This form of cashback bonus is probably the most widely used. Most of the casinos offering cashback have opted for a 7-day turnaround. This often starts on a Monday and ends on Sunday. All bets lost within one week will be added together. Should the total exceed the minimum amount individually determined by the casino, a percentage of the losses will be transferred to the player account as a cashback bonus. In most casinos, the weekly cashback bonus is between 10% and 25%.
Monthly cashback bonus
Our experience with cashback at online casinos has shown that a monthly cashback bonus is most useful for all those who only occasionally visit the casino. But even players who are more likely to play with higher stakes usually prefer a monthly cashback bonus, since these are of course higher than a daily or weekly casino bonus. 30 days is a long time, although good casinos usually remind their players of their cashback bonus, it does not hurt to make a reminder.
Difference between cashback and cashback bonus program
Frequently, casinos offer so-called cashback bonus programs. However, these are quite different than a cashback bonus. The Cashback Bonus Program, often called the Loyalty or Loyalty Program, is offered in many casinos to reward loyal and hardworking players. Points are awarded for every real money bet. The number varies in each casino and is also dependent on the selected game type. These points can then be exchanged for real money. Again, how many points must be collected before they can be exchanged and when, varies from casino to casino.
Often the cashback bonus programs are also coupled with the VIP program of the casino. The higher you get there, the better the cashback bonuses. VIP and cashback is a very profitable combination. More in the section VIP Cashback
Cashback bonus for VIPs – the perfect duo!
One of the main reasons to become a VIP in casinos is certainly the often very attractive VIP and High Roller bonus offer of the casino providers.
The VIP repertoire of many casino providers also includes the cashback bonus. Respectively, the cashback bonus is actually THE bonus badge for VIPs. As mentioned in the section on the Cashback Bonus Program, the amount of the bonus is often linked to the VIP status if the casino has such a loyalty program. This can often be found even before logging into the casino in the info area of most casinos. Often the VIP and High Roller are divided here into categories such as Gold VIP, Platinum VIP, Diamond VIP, etc. The higher the status, the higher the cashback bonus. Many casinos offer their customers cashbacks of up to an unbelievable 50%!
How is Cashback different from other bonuses?
The main difference is recognizable in the name: Cashback means that you have already spent your money before you take advantage of the bonus. Whether it’s reload bonuses, welcome bonuses, basically every other type of bonus offer is claimed at the time of the deposit before you even start playing.
In some casinos it is necessary to request the Cashback Bonus BEFORE gambling, but you will receive it after the game and only if you lost it.
Probably the biggest advantage of Cashback over other bonus offers is the low turnover conditions attached to it. Some casinos even offer their customers a cashback without any wagering, but these are scarcely sewn and the absolute exception. Nevertheless, the sales conditions are generally extremely favorable, so that some players not only bring back their lost bet, but can still bring profits.
Are there any disadvantages to a cashback bonus?
Of disadvantages we would not necessarily speak at this point. Because you spend your money, for whatever, you do not necessarily expect that you get back a part of it.
Of course, the casino does not just give back this bonus. As with any good barter, both sides should benefit. Since the casino does not necessarily want you to crack one of the jackpots with their own money, there are maximum payout limits for most cashbacks. These are either based on the deposit amount paid or the cashback bonus amount.
In most cases, the limit is ten times the deposit or the bonus amount. Please note: As soon as the (usually very low) turnover conditions are fulfilled, the money gained is part of your normal bankroll and no longer tied to payout limits.