What is a cashback bonus?
Losing money is an inevitable part of playing any casino game. As the old saying goes – win some, lose some. This means that it’s not possible to win all the time. However, when playing at online casinos, there are cases when losing money doesn’t necessarily mean that this money is gone forever. The reason is simple – there is a cashback bonus offered by some of these sites. Every player can benefit from this offer, but it seems that high rollers are the ones that should always look for a possibility like this on the casino site they are planning on joining. After all, they are spending big money, and missing the chance to return some of them without winning at games is a huge plus. Of course, casual players can take advantage of cashback bonuses too.
In most cases, cashback bonuses are permanent offers you can find on the main page of any online casino that has one. However, there are cases when gambling sites target the most active players and high rollers by sending emails or text messages on their smartphones, offering a certain amount they’ve spent on the site for free. Even though you can sometimes find them as part of a welcome package, this specific type of bonus is focused on regular and loyal players.
Now let’s see what a cashback bonus is and how it works. In most cases, the best cashback casino sites are prepared to cover the losses of players after a certain period. From our experience, we can confirm that almost all of them provide weekly cashback deals. It’s not common to find monthly deals. After that, the offer includes a specific percentage like 5%, 10%, 20%, etc. This depends on the site’s policy. Don’t forget that there are limits in most cases. For instance, you can get 20% back, but only if you’ve lost no more than €1000.
Even though they are rare, we have daily cashback offers in some crypto casinos. This means that players must place a deposit on a specific day of the week. Everything they lose from that deposit (up to a certain percentage) will be given back after a week.
Things to look for in cashback bonuses
Every cashback promotion is unique, but there are certain things that these promos have in common. We’ve already mentioned that players should look at the percentage offered and the limits.
Next, there are the wagering requirements. Like any other bonus, even the best cashback casino bonuses have wagering requirements. In theory, it sounds great that you get 20% out of, let’s say, €500 you’ve lost in a week. But, this doesn’t mean that you can withdraw this amount right away. Users must wager this money a few times before withdrawing them to their wallets. Once again, we are looking at playthrough (wagering) requirements of 15x to 40x the bonus amount. So, if you received $500 and there’s a wagering requirement of 20x, you must wager €10000 to withdraw your earnings.
Next, you should check the period given to users to meet the requirements. One may think that a couple of days is enough to wager large sums of money, but that’s not the case for bonuses. To prevent this, casinos usually limit the maximum bet per round to a maximum of €5, for instance. Remember that their goal is to keep you active on the site, and that’s one way to do this. So, it would be best to look for websites with reasonable deadlines for using these promotions and solid limits for maximum bets.
Furthermore, not all games contribute to the requirements equally. Generally speaking, the safest bet is to play online slots because they usually contribute 100% to these terms. For example, if you’ve wagered a €1, you’ve cleared €1 from the playthrough requirements. Some casinos set lower contribution percentages for card games, and some games like lottery games are entirely excluded. The best idea is to read the Terms and Conditions pages, especially if there’s one dedicated to the bonuses, to learn everything about the specific offer you have stumbled upon.
Types of cashback bonuses
It’s been a long time since the first cashback bonus was revealed publicly. So, it’s no surprise that the innovative online casinos have found ways to develop different categories of these promotions. In general, we have three types of cashback bonuses which we will describe below.
It doesn’t matter how much you have played and what you have played; the flat rate cashback bonus will provide a specific percentage in return – 5%, 10%, 15%, etc. You are looking at a fair offer that can be used by both casual users and VIP gamblers at the casino.
It’s natural for gambling websites to reward their highest-spending customers. VIP players and high rollers spend thousands of Euros (and get thousands of Euros in return). When a cashback casino has a tiered rate offer, it usually promises smaller percentages to the casual players and higher for the most active players focused on big bets. For instance, you can get a 5% cashback rate if you spend under €1000 a month and 10% if you spend more than €1000 a month.
The tiered rate is usually part of the VIP program. Most casinos encourage registered users to play and wager more by introducing a VIP program with many perks. As you progress and reach new levels (the more you spend), you can expect better cashback percentages and benefits like presents, faster payouts, dedicated managers, and more.
This is the rarest form of cashback bonus related to the player’s gaming preferences. So, the cashback casino will check where you have wagered the money the most and offer a specific percentage in return. We’ve already mentioned that not every casino game contributes to the requirements in the same way. Well, this is something similar – users focused on specific types of games like slots or roulette can expect higher returns through this promotion.
Comparing cashback bonuses to other casino bonuses
Of course, the cashback bonus offers have many things in common with other casino bonuses. Almost all of them promise “free money” but work differently. For instance, we have a welcome bonus, a deposit match bonus for the first (or first series) deposit. The so-called reload bonuses are another type of deposit match bonus for existing players. You can see the difference between these deposit bonuses and the cashback offer. The latter doesn’t require depositing additional funds to your account. On the contrary, you get a specific percentage you’ve already invested (and lost) in return.
We don’t have to discuss the difference between this deal and free spins, which are also typically given to players that have made a new deposit. Also, many of these casino deals require using specific bonus codes. Still, the cashback offer is applied automatically once you accept it. There’s no need for any other action to use it.
Don’t forget that the requirements and conditions associated with other bonuses are present in cashback deals too. However, most of them are more straightforward – the wagering requirements are more reasonable, you have sufficient time to complete them, you can use more games and expect better contributions, and so on. As we said before, it would be best for players to check the T&Cs to get a better picture of the value of this promotion.
Advantages of using cashback bonuses
If you have read our guide carefully, you probably have an idea about the advantages of using cashback bonuses. We have prepared a shortlist of these benefits, just in case.
When comparing a cashback bonus and a deposit match bonus in the same casino, we will usually find that the cashback offer has way better terms. We are talking about lower wagering requirements, better game contribution, simpler access, etc. It seems that most online casinos are trying to keep their loyal players satisfied by giving up a portion of the profit they made. They don’t want to burden players with additional requirements.
Great for regular players
If you visit online casinos once a month, the cashback offer may not be a big deal for you. Still, the situation is different for the regular players. In fact, casual players that rarely visit online casinos can’t expect significant gains from any type of bonus. On the other hand, if you play at least once a week and you know that you have a chance to get back some of your money even when you’ve lost them, that’s a great reward. Users like visiting gambling sites that make them feel valued and give them a chance to win again without reinvesting real money from their pocket again.
You can rarely find another type of casino bonus as convenient as the cashback bonus. As we already mentioned, users don’t have to type in any codes in designated boxes to enjoy this deal. You don’t have to place a new deposit either. Everything about this offer is conducted automatically. For example, if it is a weekly offer, you will get the bonus amount on your account on a specific day, and you can use it right away. Some sites prefer to send text messages on smartphones or emails to users eligible for using these offers. Even in these cases, the procedure is straightforward, and it won’t take more than a minute to finish it.
You get money for non-winning bets
Finally, the best thing about the cashback bonuses is that you get rewarded even when placing non-winning bets. Of course, you won’t get back the total amount you’ve wagered, but even a percentage can make a difference because most games allow small-size bets.
Claiming a cashback casino bonus
Our guide has noted that claiming a cashback casino bonus is a simple task. Most of the process is automated. However, beginner players may want to know how exactly this works. The most important thing here is to become a registered member of an online casino that provides cashback deals. Next, check the box that offers cashback promos through your user interface/account. If you are a new player, you will also have to place your first deposit (obviously, you can’t expect to get money back if you have not invested anything yet). Finally, you can wait for the end of the week or month to see how much money you’ve received in return.
Identifying the best cashback bonus offers
With thousands of active online casinos, it can be difficult for players (even experienced ones) to find the best cashback bonus offers. In theory, you should visit dozens of sites and check their bonus pages until you find something that works for you. No one has so much free time to do this. So, those who choose this approach will likely join one of the first ten websites they will visit. But why settle for less when you can get so much more?
At Safe Crypto Casinos, we have a page dedicated to cashback promotions. We are constantly searching for the best offers and adding them to our platform. You can access these deals by clicking on the banners or hyperlinks. We are focused only on licensed, reputable online casinos accepting at least one cryptocurrency (Bitcoin, Ethereum, Litecoin, etc.). Let’s not forget that these deals are changing from time to time, and we do our best to stay up-to-date with the latest changes. We encourage our players to visit our website regularly and check the casinos’ terms and conditions before using any of these promos.