Top Cashback Casino Bonuses

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What is a Cashback Bonus?

what is a cashback bonusThe word bonus always sounds good, especially when it comes in the form of a cashback! Casino bonuses have become almost synonymous with online casinos, often in the way of weekly offers.

You may have heard the phrase cashback bonus bandied about by credit card companies or flybuy rewards cards. These are incentive programs where, for every amount you spend, you receive a percentage back. It’s a simple system to understand, and these offers mean you never wholly lose!

A cashback offer consists of a percentage return of your losses back to your account as real cash or casino credit. These can be calculated in three ways. Firstly, on the losses made on specific wagers or deposits.

Secondly, as a percentage of your aggregate losses over a time period. And lastly, as a proportion of your deposit. It’s the same concept as coffee loyalty cards!

At your local coffee shop, you might pick up a rewards card that gives you one free coffee for every ten you buy. This is a return of 10% on your monetary exchange. Such offers work in the same way.

Wagering Requirements

What are the wagering requirements you ask? Wagering requirements refer to the amount you need to bet to release your bonus winnings back into your wallet or available funds.

These found in the form of multipliers. Wager requirements can be a little troublesome, so make sure you read up about the wagering requirements of your choice of casino to avoid getting stung by the fine print.

Wagering requirements aren’t strictly monetary values. In general, wagering requirements are multipliers. They represent the number of times you have to play through a bonus before you can withdraw any winnings.

For example, if your bonus is 1 USD and the wagering requirement multiplier is 5, then you have to play 5 USD before you can withdraw your bonus back into cash or available funds.

wagering requirements of cashback casino bonusWith such bonuses, wagering requirements refer to the number of times you have to play through it before you can withdraw these cashback offer amounts. These wagering requirements can apply to a specific time frame of cashback, or they can blanket an entire account.

However, we have some good news! Wagering requirements often do not apply to such bonuses. You’ve already paid your dues by losing during gameplay, so any casino tying a wagering requirement to a cashback bonus is worth scrutiny. Make sure to protect yourself by choosing a casino that has a valid license!

Before we discuss what is offered by a cashback bonus, we need to talk about how to access them and why you should!

Most online casino bonus cashback offers are easy to claim. After all the offers are simply returns on the money, you have already wagered. You place a wager, and if you lose, a proportion of this money will be returned to you whether this is at the end of the wagering session or time period.

Cashback casino bonuses should be returned to your account without you have to release them manually. However, you need to be signed up and engaging with such a bonus over a playing period. The amount of money that is returned to you depends on two factors:

1. The cashback bonus rate: A cashback casino bonus is usually between 10%-20%, so if you wager 10 dollars and lose, you will get a cashback of one to 2 dollars. This means the more that you lose, the more you will get back. No one likes to lose, but at least such bonuses soften the blow of any losses.
2. The amount you lose: If your cashback bonus is set at 20%, then the amount you received deposited back into your account will grow with the more you lose.

cashback casino bonus wagering requirementsWhen signing up, most online casinos will offer cashback bonus offers that run over a period of time. Better yet, many casinos provide weekly bonuses of the sort that rise and fall. Upon sign-ups and as new cashback bonus offers, players will be given a choice to opt-out of the cashback bonus.

The question is, why would you? The only downside to cashback bonuses is the wagering requirements; however, these are standards to most casinos. Such bonuses lower the effect of the house edge.

A cashback offers also acts as a backup to help protect you against an unlucky streak. You can re-wager these bonuses to beat a dry spell or withdraw back into your account after surpassing the wagering requirement.

Top Casinos Offering Cashback Bonus

Casinos offer cashback offers to attract players and keep players wagering on their online casino. They want you to stay on their site and keep on wagering, and they do this by asking you to re-wager small percentages of your losses. Remember to read reviews and do your research before engaging in with an online casino.

The best thing about such offers is this: there is no ceiling for returns. This means that even if you have a long-term dry spell, your cashback bonus will continue to grow!

top casinos offering cashback bonusA growing bonus amount, however, also means a lot of losses, so make sure to stay responsible when gambling. Track your wagers and losses to make sure, even with a casino cashback bonus, that you remain on the gaming budget.

Cashback bonuses can often be found in the model of welcome bonuses and multi-tiered schemes. This means that rates can increase progressively with player engagement over time as a way of improving and encouraging loyalty.

Obviously, these schemes of progressive cashback bonuses have great appeal. Online casinos rely on repeat users, and gamers often find a niche casino or gaming set they identify and enjoy most. If this is the case with you, engaging in a progressive bonus scheme is a smart move to cushion yourself against losses.

In competition with a cashback bonus, casinos also offer welcome bonuses. Most of these bonuses can be used in tandem with cashback casino bonuses, meaning you can get several free spins or wagers, and guaranteed return on losses.

However, as explained above, most deposits are subjected to wagering requirements meaning that these casino bonuses must be ‘played through’ a multiplier before they are available to withdraw.

casinos offering cashback bonusCashback casino bonuses are not subjected to wagering requirements. As such, it may be worth opting in for these bonuses on separate occasions.

An emerging trend in online casinos is cashback bonuses based on deposit amounts instead of percentages of losses. The standard casino cashback bonus returns a portion of lost wagers back to a player.

However, cashback based on deposits guarantees a percentage return on your deposit. These percentages based on deposits are often lower than loss returns as they require less active gameplay and spending.

How Often Do Casino Cashback Bonuses Appear?

Casino cashback runs in cycles and is usually granted daily, weekly, or monthly. They operate over this time, and returns can be collected at the end of the period.

You can claim at the cashier and simply follow the instructions listed on checkout if you have opted in for cashback bonuses. Some casinos will return this to you in real money value, and others will recycle your losses as chips, wagers, or spins to be used at a later date.