Every online casino fan has one fear: of losing money at the games they play. Losing a bit here and there may be okay, but what if you lose more than you actually win? What if you wipe out your bankroll completely at an online casino? Those were my worries too when I first started out. Casinos offer a way out of this situation in the form of cashback bonuses. A cashback bonus is designed to give you something back for remaining loyal to the casino and playing there. You could look at it one of two ways:
- A loyalty bonus that the casino gives you at regular intervals in recognition of your loyalty.
- A money-saver that helps you recover some of the money you have lost while playing at the casino.
You will not find the cashback bonus at all online casinos. It is offered as a percentage of wagers made and lost during the period for which the bonus is active. This makes it a special bonus and the raises the credibility and popularity of the casinos that offer it to players.
Our Featured Cashback Bonuses
The thing about cashback bonuses is that not every casino offers them; so finding them on your own can be quite a task. I have, in the process of playing, reviewing, and analyzing online casinos, come across quite a few that offer cashback bonuses. Here are some of the best cashback bonuses you will find at the top UK online casinos. I constantly update this list to provide you the latest information.
When to Use a Cashback Bonus
Cash back bonuses are great; I have used them a lot myself. In terms of effectiveness, the best time to use a cashback bonus is when you are on a losing streak. But of course that is only my opinion of the ‘best time’; you can use it every day that the casino offers it. Even if you are not losing too badly, this is a good bonus to use and get additional money from the casino. The cashback bonus is great for existing players because you must have played some to be benefitted by it.
Why should you use a cashback bonus? I say you should use it because it is extra money that you are getting from the casino.
- Of course you will definitely use it if you are losing; it helps you recoup some of your losses.
- Even if you haven’t lost much, it is still additional money that the casino gives you for continuing to play its games.
- You keep all winnings from the money this bonus gives you.
Cashback Bonuses – What You Must Know
Cashback bonuses are extremely popular because they are offered as loyalty bonuses and also help recover losses for many players. Here is how the cashback bonus works.
- You deposit and wager a certain amount of money over a specific period of time to be eligible for the cashback bonus. Certain casinos also announce the days on which the cashback bonus is available.
- For the specific time period that the cashback bonus is available you have to play a pre-determined number of hands or spins to be eligible for the bonus.
- The casino then offers you a percentage of the amount you deposited for the specific period of time as a cashback bonus.
- There is always a minimum and maximum amount up to which a casino offers a cashback bonus; it will never cross that self-imposed cash ceiling.
- Cashback bonuses do not cover all games; live casino games are usually left out of this bonus.
- Once you use the cashback bonus, you have to fulfill all associated conditions like wagering requirements and minimum cash deposits to redeem winnings from it.
There are a few things you will have to look out for when using this bonus, like the terms associated with it. Here are some of the major terms, and what they mean:
- Eligible games: Not all games are covered by the cashback bonus. Check with the casino for eligible games, as playing games that are not eligible will result in loss of earnings from the bonus. At casinos like Bet365, live casino games are not covered by this bonus.
- Lock-in period: Most casinos announce the time period for which the cashback bonus is available. You can use this bonus only during that time period.
- Wagering requirements: You have to fulfill the wagering requirements associated with the bonus to redeem winnings earned through it. For instance, Bet365 has a 20x wagering requirement on its cashback bonus of 10% up to AUD400.
- Wagering calculations: Not all games contribute 100% towards fulfillment of wagering requirements. You need to go through the percentage contribution towards wagering requirements of the different games and choose your games wisely.
- Minimum play requirements: To be eligible for the cashback bonus during the time it is offered, you have to opt in and play a minimum number of spins or hands.
- Minimum and maximum cashback possible: Casinos mark up a minimum and maximum cashback that you can earn during the period the promotion is active.
- Kind of wagers allowed: Some casinos may limit the kind of wagers you can make with the cashback bonus.
- Cashout time: Casinos usually limit the time during which you can cashout with this bonus. Some casinos calculate the cashback bonus for a short time span, like a couple of weeks, while others may calculate it for a longer period, like 3 months or 12 months. You cannot cashout winnings from this bonus outside the time for which it is declared active. If you do, you could be:
- Reported for bonus abuse
- Stripped of winnings earned from the bonus
- Suspended from playing at the casino
Benefits of Using Cashback Bonuses
Cashback bonuses offer numerous benefits to players and casinos. I list them out for you here.
For the players:
- This bonus is a great way of recouping some losses accrued through playing at the casino over a period of time.
- This bonus not only allows you to recover some of your losses but also make new profit by using it and winning on eligible games.
- It is a great expression of appreciation from the casino to the player for staying loyal to it despite playing and losing at times.
For the casino:
- This bonus is a great promotional strategy to increase:
- Player headcount
- Player loyalty
- Brand value
- It is still a win-win because the casino returns as cashback only a percentage – usually on the smaller side, e.g. 10%, of losses accrued over a specified time period.
- There are terms and conditions attached to the bonus when the player opts to use the cashback offered; this makes it doubly secure for the casino and a winsome proposition once again.