If you are looking for a way to resume the gameplay after you have lost it all, read our casino cashback bonus guide and learn how take advantage of them.
There are online casinos at which you can win even if you’re losing. If this sounds too good to be true, you certainly haven’t heard of cashback bonuses, a type of casino incentives given to players who weren’t lucky enough to turn their wagers into a profit. A cashback bonus is given to players who have lost while playing at an online casino and they are offered on a weekly or monthly basis in most cases.
Cashback bonuses are typically awarded in a certain percentage and limited to an amount determined by the casino. Although it may seem as a bit unreasonable that a casino gives such a bonus to its players, a number of trusted gaming venues have this type of bonuses in their offer and their customers appreciate it. Stay with us to learn all about cashback bonuses and the advantages of using them.
Pros and Cons of No Deposit Bonuses
+ you get a portion of your losses back
+ allows you to play longer
+ acceptable wagering requirements
– may be tailored exclusively for high-rollers or VIP players
– may prevent you from using other promotions
How Casino Cashback Bonuses Work
So, you have wagered you money on your favourite casino games and you lost it all. The casino you play at will offer you a cashback bonus also know as rebate so that you can play again. This bonus may come in the form of real cash which will be added to your balance or as free credits to continue playing. The sum added to your account can is a percentage of your losses and it varies from one casino to another. At certain online casinos these bonuses are more suitable for high rollers as percentages can range between 5% and 20% which translates into not very attractive amounts unless you have wagered large amounts. Casinos typically set the maximum amount you can receive.
When it comes to the frequency of cashback bonuses, the can be given on a daily, weekly or monthly basis. You can also come across the gaming venues which offer cashback bonuses as a part of their welcome package and these bonuses can be given on certain games. More information on the terms and conditions related to cashback bonuses will be given further in the text. It is strongly recommended that you read them thoroughly to avoid being unpleasantly surprised.
Who Is Eligible for Cashback Bonus
To be eligible for a cashback bonus you have to be a registered player who has made a valid deposit. Players who have done this will qualify for welcome and reload bonuses, but to receive a cashback bonus losing your funds is a must. That’s why this type of bonuses should be perceived as some kind of compensation the online casino offers as a boost to their players so that they can continue playing. There are casinos which offer cashback bonuses only to loyal and VIP players eligible for exclusive privileges as a part of a loyalty program, but in most cases this type of bonuses is given to all players who have lost while playing casino games.
Depending on the casino cashback program, you can claim an amount which will be paid directly to your casino account or as credits you can use on the casino games. Just as with other bonus types, you should not evaluate the gaming venue only based on bonuses it offer no matter how attractive they can be including a cashback bonus. The most important thing about an online casino is that it is licensed and trustworthy to provide you with a safe and fair gaming experience.
How to Claim a Casino Cashback Bonus
As we have already mentioned, to be eligible to receive a cashback bonus you have to wager your money at the casino and lose it. The way you will redeem the bonus varies from casino to casino, so free cash may be automatically credited to your account or you should claim it. Let’s say that the casino offers a 25% cashback bonus. To make use of it your balance should be 0 and you may be requested to ask the customer support team to allow you to take advantage of the rebate.
If the rate at which the cashback bonus is awarded is set at 25% and the maximum amount you can receive is set at $100 that means that you have to lose $400 to get $100. Depending on the casino bonus terms and conditions, you may be required to wager that money again on casino games or you will be allowed to cash out the sum. Both options can be a nice way of getting back a part of your lost money if the wagering requirements for this offer are acceptable.
What you should keep in mind is that you cannot claim a cashback bonus if you have used another promotion whether that is a deposit-based or some other type of bonus offers. If you have used any other bonus within a certain period, you won’t be eligible for a cashback bonus, but you can use it another time when you use up all your real money.
If a cashback bonus is given to new customers, you should follow the steps given on the gambling site. It is highly recommended that you read the terms and conditions prior to claiming a cashback bonus carefully because some of these offers may strike you as irresistible but they come under requirements which you cannot fulfil.
Casino Cashback Bonus: Wagering Requirements
Before you claim a bonus regardless of its type, you should read the terms and conditions. We repeat that as many players don’t read this document and you should keep in your mind that it is a virtual contract between you and the casino and that once you have accepted the terms and conditions you have to act according them. Pay attention to the amount you have to bet to qualify for the bonus and go through the list of games which contribute towards the wagering requirements.
A rate set by the casino, also-known as playthrough requirements, represents the number of times you need to wager real cash in order to turn bonuses into real money and withdraw them from your account. Not all the games contribute the same way towards wagering requirements as we have already said, so read the list carefully. Bets on slot machines typically contribute to wagering requirements 100% while the games which involve certain skills and depend on your experience that can give you advantage over the dealer in most cases contribute only 20% or less towards these requirements. These games include Blackjack, Roulette, Video Poker variants and more.
When it comes to rates, with cashback bonuses they are slightly different in comparison with other bonuses. Some casinos set the rate at the minimum amount like 10x the amount of the bonus received. However, you should not expect that the casino will allow you to cash out the bonus just like that and go. It expects you to keep playing and of course, to wager your cash on and on whether it is free or real. If the wagering requirements are imposed, which is quite common, you have to think twice whether you will accept the offer.
The wagering requirements with the rate up to 30x the bonus sum are considered acceptable. If they the rate is higher, find another gaming venue with achievable requirements. When cashback bonuses are a part of the loyalty or VIP program, wagering requirements are more favourable. As cashback bonuses are awarded only when you lose, you should learn how using them affects your eligibility to other promotions. If claiming a cashback bonus prevents you from taking advantage of other bonuses, this option will not be the best for you. After all, if you can benefit from cashback bonuses only when you lose, it is not very encouraging for you as a player to rely only on them. You may find it more useful to make use of a reload bonus and win instead of losing and getting a rebate.
Depending on the bonus policy of an online casino, the maximum limit of the amount you can get ranges from $100 per week up to $500 per month. Some casinos may also require that you have a certain amount of cash in your balance so that you can cash out your rebate. Read the terms carefully and make your decision based on them. Cashback bonuses should help you stay longer at the gaming venue by boosting your bankroll. They should not be something that gives you a headache. Cashback bonuses tailored exclusively for table games aficionados allow this type of players to enjoy their favourite games, so if you are one of them and you have lost all that you have wagered, you can take advantage of this offer.
Advantages of Using Casino Cashback Bonus
The biggest advantage of using a cashback bonus is obvious: you get your lost money back or a portion of it. You are allowed to claim this offer on a regular basis according to the casino bonus policy. Whether a cashback bonus comes in the form of real cash you can later clear from your account or as free credits added to your account to continue playing, you will feel grateful to the casino. Of course, this applies only if the bonus comes under acceptable conditions.
Online casino players love cashback bonuses as once they have lost it all it is good way to resume the gameplay without wagering your own money. By doing this, online casinos establish the relationship with their players based on commitment and loyalty which is in mutual interest. Gaming venues profit whenever you fail to turn your money into winnings and they will give you a share of their profit. And guess what? Players return to them to wager again and the result of the gameplay depends mainly on luck. It is all about play, isn’t it? You win some, you lose some. The most important thing for each player is a positive bankroll so that they can keep on playing.
If there is one thing about cashback bonuses which can be considered as a disadvantage, it is the fact that they are given only to those players who were not lucky enough to win. It may seem that this type of bonuses can nurture the loser mentality so in terms of psychology in the long run you should focus more on reload bonuses and winning.