A cashback bonus is essentially a refund of your lost money over a set time period. That ‘refund’ gets put back into your online casino account in the form of bonus money – in some cases it’s even real cash money. Normally this bonus is a percentage of your net losses and is an opt-in bonus. Some online casinos only offer this to their VIP customers. Although it is becoming a more popular bonus for players and online casinos are recognising this and adding to their ever-increasing lists of available bonuses.
As we mentioned the cash back bonus is based on your total net losses, this can be over a set time period or on a specific game. The online casino calculates this on a percentage basis and depending on the online casino the percentage can be between 5% to 25%. With the percentage coming back to you awarded as either bonus money or real cash.
So how does it work? Bottom line you receive the cash back bonus money into your online casino account. An online casino may choose to offer the bonus on a certain game – meaning that you can play that game with less risk. More than likely the cash back bonus will be calculated over a designated time period, daily, weekly, monthly or whatever the casino chooses. There will be a maximum limit to the cash back that you’ll receive. Here’s a couple of examples for you:
One: You are included in a cash back promotion that offers 25% cash back up to a maximum of €50, after betting you are down €300 – you will receive €50 back in the cash back promotion. Because you’ve reached the limit on what you can be rewarded back.
Two: Online casino ‘X’ offers 5% cash back when playing a specific game ‘B’. You play through €100 on game ‘B’ and lost the lot. Your net loss is €100. The cash back bonus on this means that you will be ‘refunded’ 5% of the net loss. Your online casino account will be credited – €5.
Three: Casino ‘Y’ offers 5% cash back on your daily losses while playing on any game by developer ‘Z’ on a certain day. You have an account balance of €100, you play through this and lady luck is by your side. At the end of the day you have €300 in your account. As you’ve made a net profit you will not be awarded anything in the cash back promotion.
Again, with any online casino bonus or promotion there are going to be terms and conditions that are always worth a read. However, you’ll be happy to know that generally speaking the wagering requirements on Cash Back bonus are lower than that of other bonuses. Sometimes as low as just 1 time but other casinos might have a wagering requirement as high as 10 times. Like we said worth checking the T&C’s.
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