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Many online gamblers choose online casinos based on the bonuses offered, and—up until now—the most commonly offered bonuses have been cash matching bonuses and free spins. The problem with traditional casino bonuses is that they usually come with multiple wagering requirements and conditions, and more casinos are starting to offer an alternative—cashback bonuses!
How Cashback Bonuses Work
As previously mentioned, cashback bonuses are bonuses on your losses. Before you can (and should) start looking into bonuses, you need to face the fact that you are inevitably going to lose. How much? No one knows, but you will lose money at some point.
When you do, cashback bonuses are a great way to compensate some of your losses. While some casinos offer these to new players, it’s more common for them to be a reward angled towards players that are already registered.
For online casinos, it’s not just about getting people to sign up and start playing—it’s about keeping their players and keeping them happy. Bonuses make players want to come back instead of trying their luck at different casinos. The better the offers, the happier the clients, and happy clients lead to bigger financial gain for the casino.
Offline Cashback Bonuses
It is not unusual to think that cashback bonuses were invented by the casino industry, and that you only get these bonuses when you gamble online. This, however, is incorrect, and many stores, companies and organisations offer their customers a cashback bonus on money spent. It has been proven to be good for business.
Examples are large chains with bonus point systems, the miles you collect when flying and multiple VIP bonus programs, and while they can sometimes work a little differently—the main principle is always the same.
Types of Cashback Bonuses
Cashback bonuses can be offered in two different ways, and while both have the same purpose and lead to the same gain, it is a good thing to know the differences so that you recognise them when you see them.
It is more common for casinos to have an upper limit on cashback bonuses, as they could otherwise end up having to pay out unreasonably big amounts to their most avid spenders. No matter how great a bonus offer sounds or how much it sounds like you would get out of it—the house is always looking to win in one way or the other.
Are Cashback Bonuses Real Money?
Well, sort of. When it comes down to it, what you might want to know is whether cashback bonuses are real money. Can you withdraw it? All of these are valid questions and things you want to know before you commit to an online casino. You can find this out by checking out the rules and regulations of the casino where you are playing.
Some casinos will actually give you real cash! In these cases, the casino will deposit money into your casino account, and you will then be able to withdraw it right away. Many gamblers prefer these bonuses due to the lack of strings and restrictions, but it is worth keeping in mind that casinos don’t want to lose money.
As a result, it is not uncommon for cashback bonuses to be handed out as virtual money, which can only be used at that specific casino. In this scenario, you both win! You get free cash to gamble with and the casino gets to keep you as a paying customer. Cashback bonuses can also be tied to a specific casino game or type of game.
A great thing about cashback bonuses with no strings attached is that you can withdraw it without having to wait. It is real money you get back, and you can take it out and use it for whatever you want—online gambling or something else.
Real money cashback bonuses also mean you can take your winnings to a different casino if you want to try something new. The amount you get back is directly tied to how much money you gamble with, but it can be quite a nice amount if you are a frequent player!
Perhaps you automatically think that real and withdrawable money must be the best option, but this isn’t always true! There are multiple benefits that come with money that is tied to your casino account or to a game.
Think of it as a free practice opportunity! If you win then great—you didn’t spend anything, and if you don’t win then the money wasn’t taken from your wallet or bank account, so you didn’t really lose anything. Cashback gives you an opportunity to win big without dipping into your bank account and budget.
Money tied to the casino is also great for those who want to continue gambling. You won’t be tempted to withdraw your cashback bonus, and instead, you’ll be able to continue playing your favourite game for several more rounds.
Cashback Bonuses & Other Bonuses
Most casinos only allow you to use one bonus at a time. Sometimes you have the option to choose which bonus to activate, and other times you might only be given one option. If you are already using your welcome bonus or any other type of bonus offer issued by the casino, then you probably won’t be getting cashback until that bonus offer expires.
A contributing reason is that the casino will want to make a profit and not a financial loss, and it wouldn’t make sense for them to give you free money on another free gambling opportunity, such as a welcome bonus or free spins. Read the terms and conditions carefully before you start playing.
When asked to choose between two or more bonuses, you need to decide which bonus can give you the best value for your money. Depending on what you intend to play and the amounts you plan to deposit, one bonus could be more beneficial than another.
Cashback Bonus on Bonus Money?
If you have already used another bonus, such as a matching bonus where you might have doubled or tripled the amount you deposited, then you will only get cashback on your deposit, and not on the free money given to you by the casino.
It is highly unlikely that any casino will allow you to claim cashback rewards on bonus money or even money won with your bonus money, and this is something to take into consideration when gambling and when accepting a cashback offer. Double check with your casino’s customer service if unsure.
Some casinos increase their cashback amounts when you reach a new VIP level, which can be a motivator for gamblers, but also something that could potentially increase the risk of developing a gambling addiction. It is important to stick to your budget no matter the carrot a casino dangles in front of you.
Bitcoin and Cashback Bonuses
With Bitcoin becoming a more popular payment method, and Bitcoin casinos opening their doors almost daily, it is no surprise that cashback bonuses can be found also where Bitcoin is offered as a way to pay.
These types of bonuses work the same way as cashback bonuses elsewhere, but they can sometimes be even higher than what you might be used to! Some casinos offer up to 10% cashback per day, rather than per week or month, and that can earn you a significant amount of free Bitcoin rewards.
Now, Bitcoin gambling isn’t for everyone, as it requires some knowledge and understanding of the digital currency market, but it can be financially beneficial for those who already own and understand cryptocurrency.
Pros & Cons
Whether cashback bonuses are beneficial depends on your gambling habits, and big spenders do tend to get more money out of it, due to the percentage-based cash rewards. With this in mind, it is up to you to decide how much you can get out of these bonuses and whether you consider it to be worth it.
Before you do anything else, make sure you only gamble at reputable casinos, as this is the best way to get the most out of your money. You need a casino that will hold its promises in terms of bonuses, and that will keep your money and personal data safe.
There are a few things you need before becoming eligible for a cashback bonus:
Open an account at a casino that offers cashback bonuses. This can be done by double-checking the terms and conditions, and signing up for a casino account under a tab named ‘Sign up’, ‘Create Account’ or similar.
You need to be of legal age to gamble, and this applies to everyone, no matter where you are located in the world. For Indians in India, the legal age would be 18, but Indians living elsewhere must adjust to the rules and regulations of that particular country or geographical area.
A valid email address is required, as this is where you will receive your verification link. Casinos often ask you for a name and an email address, and for additional personal information once the account has been verified.
Choose your password carefully when registering—one you can remember but that can’t be guessed by other people. This will help keep your account, deposits and bonus money safe.
Activation Terms for Cashback Bonuses
The process of activating a cashback bonus differs depending on the casino. It is common for these types of bonuses to be automatically activated when you create an account and start playing. All you’ll need to do is to make a deposit and start playing your favourite games, and once you fulfil any minimum loss requirements—you’ll get cash back.
Don’t rely on cashback bonuses to be activated automatically, though, as it isn’t always that simple. You may have to manually activate the bonus option, or reach out to the casino’s customer support for them to activate it.
Cashback information should be disclosed in the casino terms and conditions, and we recommend that you have a close look so that you don’t accidentally miss a beneficial bonus offer. Cashback bonuses are designed for active casino players, and you do need to have an account to be eligible for cashback rewards.
Cashback bonuses are usually activated after approximately 24 hours, counting from when the requirements are met. How soon you can use or withdraw your cashback money depends on the casino. Every casino has its own set of rules which can be read in the terms and conditions signed when joining the casino.
Fake Cashback Bonuses
Not all casinos are as honest as those we recommend, and you should always watch out for sneaky ways to make you deposit money. Be sure to read the fine-print when accepting ant bonus offers, to make sure you don’t end up complicating your gambling experience.
Any cashback bonus that comes with wagering requirements should be a red flag, as real cashback bonuses don’t have wagering requirements. If it does—it isn’t a cashback bonus and should really be called something else.
That said, just because a casino announces something as a “cashback bonus” with wagering requirements, it doesn’t necessarily mean the casino is unreliable, and only that their bonus should go by a different name. Real cashback bonuses give you money back on your losses, without strings (wagering requirements) attached.
Our Final Thoughts
Cashback bonuses are very straightforward bonuses, and while not as common as cash matching bonuses—they are becoming more and more frequent. The principle is the same as for VIP programs, air mile programs and reward point programs, where you get money back on your spendings and/or losses.
Some casinos give out cashback bonuses automatically on a weekly or monthly basis, and other casinos require you to reach out to their support services to have the bonuses activated. It is always important to look into this before you start playing, to make sure you don’t miss out on free cash.
Real cashback bonuses are always free from wagering requirements, unlike cash matching bonuses, and if used wisely—cashback bonuses could give you a nice boost to your gambling budget!
Frequently Asked Questions
Frequently Asked Questions about Cashback Bonuses
Check with your casino to see if the cashback bonus is activated automatically, if you need a code (activate it manually) or if you need to contact support for activation.
No. Welcome bonuses are bonuses received upon registering for a casino, and cashback bonuses are something you get after having played for a while. Cashback bonuses give you money back on your losses.
Most cashback bonuses are activated 24 hours after you fulfil the requirements to become eligible for cashback.
The best way to find a casino with cashback bonuses is to check out top online casinos available in your area. It is a popular type of bonus that is being offered by more and more casinos.
Cashback bonuses are very beneficial to big spenders and frequent gamblers, but anyone can benefit from getting cash back when they play.
Yes. Casino cashback bonuses are for those who are returning players and who have an account, and you need to create an account before you can get started and become eligible.
You can’t get a cashback bonus unless you have made a deposit. This is because cashback is just what the name indicates: Cashback on the money you’ve lost or spent.
Bitcoin and cryptocurrency is an increasingly popular payment method at online casinos, and yes, you can get cashback bonuses also when using crypto tokens.
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