Cashback Casino Bonus Guide
Cashback bonuses are often used in incentive or rewards programs by credit card companies, and online casinos to incentivise individuals for their business, and/or loyalty. Cashbacks or previously known as rebates are also in place to attract new members and keeping existing members loyal.
Casino Cashback Bonuses
Online casinos use a variety of bonus incentives to attract new players, incentivise and motivate players to return often, and as a reward to thank regular members for their loyalty, most are focussed on keeping players happy and encouraing them to play for real money. To gain access to welcome bonuses, deposit match bonuses and reload bonuses, a minimum deposit is required, plus the bonuses and deposits that activates the bonus are subject to high wagering requirements that need to be achieved before winnings can be withdrawn.
Cashback bonuses are the extraordinarily opposite from all other bonuses, it is a perk providing online casino players with an opportunity to earn back a percentage of the money they spend at the casino. Cashback bonuses do not require players to make a deposit in order to gain access to the bonus funds since it is a bonus based on previous deposits and cashbacks, cashbacks are wager free synonymous with risk-free wagering.
Cashback Bonuses Explained
Cashback bonuses are calculated as a percentage of the cash lost by casino members in betting activities over a specified period, which could be a week or month. The percentage players earn back on their previous deposits or losses varies from one casino to the next and usually is 10% or higher. The bonus is limited to a maximum predetermined by the casino. The bonus reduces the discomfort caused by previous loses and encourages players to continue play at the casino and win back some of the cash.
Cashback VIP Bonuses
Cashback bonuses are mostly used in VIP programs and are reserved for VIP members. As part of the benefits for players who have spent a significant amount of cash at an online casino, most loyalty programs offer a monthly cashback bonus.
In VIP programs the cashback bonus is offered on losses suffered during the month and is calculated once a month. The bonus does not require wagering before winnings achieved via it can be cashed out.
Cashback Welcome Bonus
Cashback bonuses are usually a forte reserved for VIP or High Rollers treated with the utmost respect. Online casinos using cashback bonuses as a welcome bonus are in the minority and is favoured by players who choose not to accept high deposit welcome bonuses.
As a welcome bonus, cashbacks ensure new casino members that should they lose their first deposit, a percentage of the loss will be credited to their account. A cashback bonus gives players a second chance to enjoy winnings without the need to make another deposit.
Cashback Bonus Benefits
Cashback bonuses can be seen as a safety net that is in place to protect players from losing all the money they spent as a percentage of all losses is returned to provide players with a second chance. The biggest benefit is that no wagering is required on a cashback bonus and winnings can be withdrawn or used to enjoy more games. Cashbacks are the only bonus that appeals to high rollers, casual players, and VIP players since there is no fine print referring to wagering requirements, and the demand for a minimum deposit is voided.
It remains important to read the terms & conditions part of the bonus, which can hugely differ from one operator to the next.
Cashback’s can also be offered on total bets, which is a bonus that offers players a percentage based bonus on the total wagered no matter if the result is a winning or losing. No matter the form a cashback is offered in, it is the perfect incentive for players who are sceptic about bonuses that are tied to high wagering and other terms and conditions.