While there are some pretty impressive record wins at online casinos, there is no doubt that for all of us, gambling is mostly about losing. Therefore, pretty much every house in the business has its way to say “thanks” to players who remain loyal after series of losses. These things are called cashback. Although they come in various forms, the basic principle is always the same – to reward loyal players.
How Does a Cashback Work?
As we’ve just mentioned, a cashback is a reward for loyal players. Therefore, they come in various forms of bonuses, which are awarded once in a certain period. In most cases, they come in cash but can come in some form of credit as well. Logically, the more a player spends in a casino, the bigger cashback he gets. Usually, these bonuses are displayed in percentage. For example, they may come after every deposit but can come after wagering reaches a certain sum, no matter the number of deposits. According to the international comparison site Foxbonus, approximately 10% of all online casinos offers cashback. Sometimes you can get cashback by asking the support team, but that usually requires that you are a medium-high roller.
Of course, this percentage varies from casino to casino, but it can also be different within the same house. There are always some special deals for most loyal players, those who spend most. For those players, there is always some kind of a VIP plan, which brings additional benefits.
Types of Cashback?
There are several types of rewards that casinos give to players. Of course, the most common is welcome bonus, which is reserved for new players. This bonus is usually related to the first deposit sum, so the actual size of a bonus depends on your bonus sum. However, you can’t claim some crazy bonus sums by laying deposits that are measured in thousands of dollars. There is always some limit that usually measures in a couple of hundreds of dollars. Sometimes, a deposit is not required and in that case, the bonus is fixed.
Once you’re done with a welcome bonus, most casinos will offer you a so-called reload bonus. As the name says, this bonus activates every time you land a new deposit. It is measured in percentage but always comes with some kind of max limit. The percentage can go up if your deposits are bigger and more frequent compared to most other players.
Cashback on total bets is another popular kind of reward. In this case, a casino will award you after you wager a certain sum and in most cases, it doesn’t matter if you have won or lost with the wagered money.
Ongoing cashback activates automatically. It comes periodically (i.e. every month) and it is related to the player’s loss over a certain period.
Terms and Conditions
Naturally, all these cashback types come with certain terms and conditions. For example, welcome bonuses usually come with wagering requirements. With other bonuses, there is usually a minimal sum you have to spend and, as we already mentioned, each bonus has its maximum. Also, it’s not a rare thing that this cash can’t be withdrawn but you can only use it for further wagering. Finally, some games can be excluded from a cashback. For example, most casinos won’t allow you to use the bonus money for games like blackjack.