Online casinos are continually coming up with ways to attract new players and reward existing ones as such a variety of bonus types and promotional offerings exist. One of the most popular, albeit rare bonus offers is the cash-back bonus.
Here we’ll take a look at the various aspects of these offers and how they work so that you can make an informed decision when presented with them.
What is a Cash Back Bonus?
A cash back bonus is often referred to as a rebate, because depending on how this type of offer is structured you get a portion of the money you spend on wagers or a percentage of your losses incurred when playing specific casino games back.
As previously mentioned these bonuses are quite rare and are usually reserved for high rollers and players on higher loyalty program tiers. That said though, some online casinos offer these as part of their welcome offer to new players.
How does a Cash Back bonus work?
Cashback offers vary from one online casino to another, but we’ve seen them range from 5% to 25% over the years. In addition, the way in which the money is credited back to you may also differ, with some online casinos the cash-back reward is offered as real cash, but more often it is credited in the form of a bonus.
The way in which these bonuses work really depends on the casino so it is important to read the associated terms and conditions as these will give you an indication of how the offer is structured and operates and what type of bonus restrictions (if any) apply.
Generally cash back offers are given on specified games so that you can enjoy them with lower risk. They are also calculated over a specific time period of a day, week or month, and there’s also a limit imposed on how much cash back you are able to receive on a particular offer.
For example, you may receive an offer giving you 10% cash back of the money you lose when playing a particular online slot with the maximum spend being $1000 for a particular week. This means that if you lose $1,000, you’ll get $100 back into your players account within a specified time frame.
How to qualify for a cash back bonus
While many online casinos will offer cash back bonuses to players as part of their loyalty program rewards which are awarded on merit or player status and can’t really be qualified for other than playing to reach a higher tier.
However some casinos run regular promotions which include these offers, so look out for them in regular promotional newsletters and opt-in or sign-up to take part.
Some online casinos do attach wagering requirements to their cash back offers when they are credited in the form of bonus money. This can be as low as 1x the bonus amount and as high as 10x but in general these requirements are lower than standard bonuses.
Pros of cash back offers
There are a few pros to cash back offers:
- Cash back money is deposited directly into your player account rather than a temporary bonus account.
- They have lower play-through requirements than other bonuses
- Funds are immediately available for added play or withdrawal as you choose (given that any T&C’s associated to the bonus are met)
- These offers are often awarded directly to players without the need to contact customer service or enter a bonus code.