Online casino sites can offer rebates to players to entice them to continue playing on the site or to simply reward them for their loyalty. These rebates can be known by different names, with the most common term being a Cashback.
A Cashback is what you call a refund/rebate in bonus money, or sometimes even real money, that you get back into your online casino account if you lost money whilst playing or as a special reward for your loyalty. Typically, this type of bonus is a percentage of your net losses. Since you have basically wagered your funds, you actually have nothing to lose when participating in this kind of program. A Cashback, whether it is in the form of bonus money or real money, is something that makes an online casino become more popular and appealing for real money players. A Cashback is a nice yet clever way for online casinos and other gambling websites to attract new customers and to keep their existing players happy as it encourages them to come back anytime and play.
How It Works
A player can become eligible to get a Cashback when they fulfill specific requirements or perform particular tasks. The most common type of Cashback is called a Bonus - it is given when a deposit is made by the player at an online casino. Some casinos may require the player to claim the bonus by using a given code, or the casino would automatically award the bonus to the player's account. Normally, bonuses against deposits cannot be cashed out. When the player has wagered the deposit and bonus a certain number of times, they can only cash the initial deposit amount and their winnings.
Cashbacks can also be offered against losses incurred by the player and/or against certain amounts wagered at the online casino. Depending on the online casino, these Cashbacks can be cashed out by the player without having to fulfill any wagering requirements.
Common Types of Cashbacks Offered by Online Casinos
- Welcome Bonus
The Welcome Bonus is offered to new players who make their first deposit at an online casino. The most common Welcome Bonus is 100% up to $200, which means depositing $200 will give the player a matching amount as a bonus. However, if the first deposit exceeds $200, the online casino will limit the bonus to $200 only, since that is the maximum amount specified in the offer.
- Reload Bonus
The Reload Bonus is a Cashback incentive on subsequent deposits made by a player after they availed of the initial Welcome Bonus. The usual format used is a percentage of the deposit made, but the percentage amounts can be typically lower. Such formats vary depending on the casino. Some online casinos assign particular days of the week in which the Reload Bonus can be availed, and for each transaction it can have limits and percentages. An example would be 20% of the deposit made on Thursdays subject to a maximum of $50. Another common offer would be 10% of all deposits made each month subject to a maximum of $250. If you deposit $100, you will get a Cashback of $10. Once you receive a total Cashback amount of $250 within the month, you will no longer receive any Cashback.
- CashBack on Losses
Of course, online casinos notice that players do not feel happy at all when they lose. Therefore, they think of ways to offer some comfort and so they give back a part of the losses in the form of a Cashback. A common offer would be 20% of the losses made within a week subject to a max of $100, but if the player wins on that week, then they will not be eligible for any Cashback. However, if they lost $500 then they will be given a Cashback of $100. If they lost $600, then he will not be given a Cashback of $120 (20% of $600) since the max limit is only $100. Some online casinos stipulate that a player has to lose a specific amount to avail Cashback on losses.
- Cashback on Total Bets
Cashback on total bets is perhaps one of the best Cashback deals out there since it doesn't matter whether the player wins or loses. They will earn Cashback on the total amount they wagered in a specified period of time.
Below are some of BankrollMob's online casino partners offering a Cashback:
Videoslots - The Weekend Booster: Win up to €300 per day.
BitStarz - Friday Loyalty Bonus: Cashback up to 100 EUR/USD/CAD/AUD, 1,000 SEK/NOK, 0.05 BCH, 0.5 LTC, 0.05 ETH, 15,000 DOGE, 400 PLN, or 6,000 RUB.
Play Fortuna - CashBack reward system: Get Cashback up to 500,000 points every Friday (can be convereted into cash; 1000 points = $1).
IviCasino - Friday Reward: 15% Cashback up to €1000
How Cashbacks are Awarded
Depending on the online casino, Cashbacks can be awarded in different ways:
Cashbacks linked to player deposits are usually awarded as soon as the deposit has been made.
Cashback on total losses or amounts wagered are given over a specified period of time (most common period is a week, but it can also be a month).
Important Things to Remember
A Cashback is a type of player benefit offered by online casinos, but one is really not compelled to avail any or all of the Cashback offers if they're not interested. If the online casino credits the Cashback automatically, you can simply let their customer support know that you don't want it.
Of course, the rules on how to acquire a Cashback depends on the online casino site you're playing at. Thus, it is wise to always check everything out first and understand each online casino's specific mechanics and wagering requirements (usually found in their Terms & Conditions) so as to avoid any confusion and expect to get your Cashback as you enjoy your gameplay!