Cashback Bonus in Online Casinos

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While it used to be something that you only thought about in connection to credit cards, airline rewards, and loyalty programs, the allure of the casino cashback bonus has made it a popular offer from online casinos in 2020. It’s not hard to imagine why any frequent gaming player likes a payment system that puts money back in their pocket. What’s not to like?

In fact, casino cashback bonuses tend to be even more lucrative and profitable in the long-term than welcome bonuses. As welcome bonuses tend to favor high-roller players, we can invest a large sum upfront. Cashback bonuses appeal to serious and novice gamblers equally as a way to soften their losses and keep a little bit in their pocket.

But how legitimate are these cashback offers? Even the ones connected to credit cards have stipulations on how that cashback can be redeemed, or how much is earned, or even if the cashback rewards can expire. We’ve done extensive digging for you and found some of the best cashback bonus offers there are for online casinos.

Top Casinos Offering Cashback Bonus in 2021

Everything You Need to Know About Cashback Casino Bonuses

The first time you likely earned “cashback” was through a retail store credit card or airline membership. If that’s the case, the good news is that cashback bonus casino programs function in a somewhat similar way. Instead of a percentage paid back to you for your purchase, it’s a percentage paid back on your losses. To be clear, cashback bonuses only function on losses, hence the name cashback. Players cannot collect cashback percentages on wagers that they won.

One of the major differences from the cashback offer on your credit card to the cashback offer from casinos is that instead of being compiled in a separate rewards account like your credit card, cashback rewards are typically paid out weekly.

What Exactly is a Cashback Bonus?

A cashback bonus is usually any bonus offered to soften a player’s losses. For example, if you are gambling at a venue with a 10% cashback bonus and place a $100 wager and lose, you’ll still keep $10 in cashback. Cashback bonuses used to be used more exclusively for poker games, but the concept is starting to extend to nearly all casino floor games.

Casinos are also starting to tie cashback bonus programs to their loyalty rewards cards or memberships. Viewed as a way to reward their most regular players, cashback bonuses are one VIP-club element that casinos are learning can greatly increase membership enrollment.

There are several reasons players love cashback bonuses, but one of the most common of them is simplicity. There’s very little that players have to do to claim their cashback bonus or ensure they receive it. There are often few wagering requirements, if any, for cashback bonuses, which makes them less complicated and more reliable than welcome offers. It’s also a clear and definitive monetary bonus players can rely on in the way that “Fifty free spins” will never really be.

Another reason cashback bonuses are growing in popularity is because they help to lessen the sting of a loss and helps to keep players from getting discouraged. Whether that’s better for the casinos or players is the matter of debate, but it’s not hard to see how knowing you’ll always get back ten or fifteen percent on your losses makes them seem not so bad.

One of the last reasons cashback bonuses will always be popular is that they benefit players with any wallet size. From people that like to put hundreds on a hand to players that prefer $3 blackjack, it’s a bonus that every type of player can get behind and enjoy.

Cashback Bonuses vs. Welcome Bonuses: What’s the Difference?

Cashback bonuses and welcome bonuses can seem similar. In fact, some less than scrupulous sites will try to dress up welcome bonuses as cashback bonuses. It’s important to distinguish the differences between the two to understand what benefits are best suited to you.

Let’s start with welcome bonuses. Welcome bonuses are bait to attract big players, sometimes referred to as “whales.” In casino terms, a “whale” is someone who bets hard and heavy and doesn’t seem to feel a thing when they lose.

That’s why welcome bonus deposit offers are geared toward rewarding the biggest deposits. Casinos not only want to get you “in the door,” so to speak: they also want you to deposit a lot of money with them because it greatly increases the chances you’ll actually spend that money. They know that the majority of players will not maximize their welcome bonus offer, which means the average welcome bonus reward is often much much lower than the big-ticket number the casino advertises.

In the best-case scenario, a vendor will offer their welcome bonus multiple times, but ultimately it’s a limited time offer that’s going to run out.

On the other hand, most websites and online casinos that offer cashback bonuses have those bonuses set-up to be on-going. It’s always good to keep up with any changes to the cashback agreement’s terms or conditions, but the most typical of these agreements function with weekly payouts on game-specific lost wagers.

The advantage of the cashback bonuses is that they’re steady, and that’s an appealing mix to the risky nature of gambling. Unlike welcome bonuses, which are dictated by the amount you can deposit, cashback bonuses are a consistent percentage calculated from your losses. Whether you lose $100 or $5, 3% cashback is a reliable and easily understandable bonus that benefits you no matter your loss.

How to Claim Your Cashback Casino bonuses?

Each casino will have its own method for allowing players to claim cashback. The most common features of cashback programs are weekly payouts as well as cashback limits, and sometimes wagering requirements. This information should be clearly displayed by the casino, but if you have any questions, don’t hesitate to contact customer service before making a deposit. Remember, the quality of customer service is always a great litmus test for casinos!

If you’re still hesitant, we’d be happy to break claiming cashback bonuses down for you. Here’s an example of how to get a cashback bonus in an online casino and the options you have for your winnings.

You deposited $50 with a casino that advertised “10% cashback weekly, no wagering requirements,” and you made three bets, two $20 bets, and one $10. You won both $20 bets, but you lost on the $10 bet. A week later and you could expect $1 in cashback from your lost $10 wager. Some casinos may even let you withdraw that cashback bonus on the day it’s deposited so that you may use it elsewhere. Yep, that’s it! It’s easy to see why the players love the best cashback casino bonus offers.

To repeat, often here’s how easy it is to claim a cashback bonus:

  • Deposit money with a casino offering a cashback bonus.
  • Lose a wager (not intentionally!)
  • Receive money in your casino account a week later!

The real genius of “cashback bonuses” is that nobody is going to place a wager hoping to lose. So casinos really help players not feel discouraged and feel more confident to place that “big bet” instead.

Whether it’s a recreational gambler making a $20 bet instead of a $5 bet or a pro making a $500 bet instead of a $200 bet, cashback bonuses help make players at all levels a little bit more comfortable with the risk.

What Are Wagering Requirements?

Wagering requirements are the one thing that players should look out for when trying to find the best cashback bonus casino because wagering requirements can turn a truly sweet cashback deal sour. A wagering requirement often means that a player must place a certain number of bets before they can access their accumulated cashback bonus. For example, if you made a deposit with a casino that offers 10% weekly cashback, but there’s a wagering requirement of 30, you’ll have to place thirty bets with your account before you have access to your cashback bonus.

For some players, this might not be an issue; they may place thirty bets in a week’s time or two week’s time regularly. But for recreational gamblers? For people that might only place one or two bets a week, that’s a significantly high wagering requirement to fulfill before getting access to that cashback bonus. In this scenario, even someone that averaged 5 bets a week would still need 6 weeks before they would have access to that cashback bonus. That’s a significantly long wait time!

Similarly, sometimes cashback bonuses will only be offered on certain games. Typically, when a cashback bonus offer is made on specific games, that bonus is being paid out by the casino game-maker. Game-makers sometimes use cashback offers to entice people to play their machines more, and not surprisingly, it works!

Making cashback bonuses game-specific is a way that wagering requirements can lead to a bigger bonus. Game-makers can often offer up to 20% on their game-specific cashback bonuses, but a cashback bonus percentage that high would be unfeasible to do for the whole casino. When a cashback bonus is offered online casino-wide, it’s paid for by the casino. It is important to make sure there aren’t limits on cashback bonuses, which also sometimes occur.

Cashback Bonus Casino FAQ

📌  What is a Cashback Casino Bonus?
Any casino with cashback bonus programs typically pays players back a percentage of their losses weekly. It’s a refund on a percentage, typically 10%, on lost bets that the player has deposited directly into their user account without having to lift a finger.

Players should note if there are any limits on cashback bonuses, as some casinos limit the amount of cashback to the first $100 or $150 in lost wagers.

📌  Are There Any Wagering Requirements for Cashback Bonuses?
The best cashback offers do not have wagering requirements, although some do. Wagering requirements may be a certain number of wagers must be placed, or it could be a limit on the total possible cashback bonus. Players should always be wary of wagering requirements and ensure they understand them completely before signing up for a cashback bonus casino.
📌  Who Can Qualify for Cashback Bonuses?
Any player who signs up with a casino that offers cashback bonuses can collect those bonuses on their lost wagers. Players may also choose specific games that offer cashback bonuses, and those would be available to any player with a lost wager as well.

Bonuses are typically deposited directly into player’s user accounts weekly. The best cashback casinos allow players to withdraw their bonus funds like regular winnings upon being awarded. If there are wager requirements, players will have to fulfill those requirements before qualifying for the cashback bonus.

📌  What is the Percentage Returned by Cashback?
It can vary, but typically, casino-wide offers paid by the casino are 10% cashback on lost wagers. At the same time, game-specific cashback offers can be as high as 20%.

Typically cashback offers do not compound when playing a casino game with a specific cashback offer in a casino with an active cashback offer. Instead, players will be awarded cashback based on the best offer. It doesn’t hurt to check with customer service though!

📌  Are Cashback Bonuses Instant?
No, typically, cashback bonuses are paid out weekly and deposited directly into a player’s user account. Wager requirements can take getting access to cashback bonuses much longer, so look out for those!

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