The fundamental principle is that the casino sites will give you a percentage back in the form of 'cashback'. An easy example is, you lose £1,000 and you are playing on an offer of 10% cashback. In this case, the casino will 'reward' you with £100 cashback back into your balance. Unlike welcome bonuses or welcome packages, the offers are usually available to new and existing players, which is great news for regular punters. The principal is simple to explain: if you lose, the casino makes profit, therefor they are happy to pay you a percentage back for your loyalty and for being a good customer.
Cashback bonuses can differ depending on time, percentage, deposit, and wagering requirements (WR):
Make sure you check the Terms and Conditions in full before signing up. A common model that these casinos offer is that a player gets cashback on their net position at the end of each calendar month. This will be their main selling point and means that they won’t offer any other promotions of bonuses. The way this works is that a snapshot of your account is taken at the end of the month. If you have had a great month and you are up, then no cashback is due, so you will get NO cashback deal. However if you end the month down, the casino will calculate your cashback based on your net loss. For example, you won £10,000 at the start of the month, then lost £20,000 at the end of the month. Your net position is -£10,000. If the casino is offering 10% unlimited cashback then you will earn £1000 back into your balance, reducing your net loss to £9000. This is a fantastic opportunity considering in a standard casino you would get nothing.
Another thing to note is that casinos usually offer no monthly carry over. As such, at the start of the new month your balance will be reset to zero. This means if you hit a £20,000 winner in March and a £20,000 loser in April. In this example, you would still earn your 10% cashback in March without having to worry that your overall net position is even. This is good news for regular high-stakes players.
Example Extreme Casino: you will get a cashback bonus of 20% when you:
Casino cashback involving real cash is still rare, but does happen from time to time. Whatever the reason for the cashback offer, as a rebate on losses or for depositing cash etc, the casino simply credits your account with an agreed amount of cash and this can be withdrawn. Naturally the cashback amounts are low where real cash is involved, but if the casino is running a cashback offer based on a percentage then naturally the more you put in and bet with the more you can expect back.
This is much more common and sometimes using the word cashback is just a clever marketing tool. This deal is no different to any standard welcome bonus or reload bonus in that you deposit cash and the casino matches it or adds to your wallet with a percentage. With bonus cashback, there will no doubt be strict wagering requirements prohibiting you from withdrawing the funds as cash for a while.
Advantage: when the casino is being honest about their cashback, you may consider it as a good, reliable casino reward. Getting back a percentage of what you have spent is great and means there are no severe wagering requirements: the cash is yours. Cashback is instant and means whatever your reward you can claim it straight away.
Disadvantage: in terms of real cash, the amounts offered are rather small: for example some games come with a cashback value of 0.5%, meaning to even get £10 back you should have staked more than £2000 in total. On the other side: casinos will offer you up to 30% cashback but that will be on deposits only, a great way for them to get you to keep feeding your account. Is that what you are looking for? Do decent research! We always recommend this: make sure the deal is right for you as in some cases the amounts offered are so small and you would be better off with a traditional bonus, despite the wagering requirement. And last but not least: don’t play just to get cashback, many players do this. If you keep yourself playing (and losing) just to see the cashback amount grow, it’s counterproductive and not smart.
The standard way to access a casino promotion is to check out the promotion section of the online casinos. This is where you should expect to find the casino’s cashback offering for new and existing players. Either that or contact the casino via their support channels. Also you should read the rules (Terms and Conditions) of the cash back offers, as well as any restrictions. For example, a casino cashback offer every Sunday night: this promotion would offer players the ability to earn cashback only at a specific time during the week. So take the time to understand the exact casino cashback offer that is available. Other restrictions can be: cashback is only available on a specific day, game (e.g. blackjack) or on a particular slot.
Secondly, find out exactly how much cashback is on offer. Often a promotion looks like ‘Earn 10% cashback on all your losses every Tuesday up to a maximum of £50 cashback’. More in detail: this promotion would only be available on a Tuesday PLUS the cashback rate is 10% and the maximum cashback is £50. Result: the player can only earn cashback on £500 worth of losses on a Tuesday. If you play on another day than Tuesday or lose a lot more than £500 then the cashback offer will not apply! Our tips: 1) look out for cashback offers that have either higher (or no cashback caps); 2) look out for cashback bonuses that are available on a wider selection of (preferable all) days.
Often online casinos have all kinds of different conditions and rules, so a player, it is important to ask yourself what you are looking for. Some casinos offer a cashback bonus as a one-time gift for new players. Other casinos have a loyalty program where the cash back to existing players happens on a regular basis. Other online casinos display cashbacks on a monthly or weekly basis. Therefore choose your reliable online casino that meet your needs. The cash back bonus is a frequently used bonus by players because you always have an extra chance of achieving a nice profit.
Hereby a warning for our players! Some casinos call their bonus 'Cashback bonus' but in reality it is just a deposit bonus, because Cashback has become so popular lately. If you discover that the bonus labelled Cashback has wagering requirements, you know that that is not a real Cashback bonus. Make sure that you always pay attention to the Terms and Conditions before you accept a bonus so you don’t fall for this trick! ARE THERE ANY WAGERING REQUIREMENTS? No, in most instances there are no wagering requirements to fulfill when accepting a cashback bonus. When looking at it from a logical perspective, the player has already fulfilled the wagering requirements by losing the cash during their gameplay. It would be unfair to put wagering requirements on any bonus funds the casino grants the player in return for their losses. Should you come across an online casino that does charge wagering requirements on a cashback offer, keep your eyes open and check out first! Always check if the casino you wish to play has a valid licence (MGA, UKGC, Kahnawake Gambling Commission, Government of Curacao or Government of Gibraltar). If not, it might be that you have come across a fraudulent online casino and you cannot be certain if you will receive the cashback promised to you.
Some casinos only offer cashback to VIP members of a certain rank, since they have already funded their account enough to be eligible for such an offer. This means that cashback bonuses are especially attractive for high rollers. Casinos know who their most valuable and important customers are: the regular players who play high-stakes. These gamblers win big because they are willing to take a risk on their favourite games. These types of players are usually experienced casino players who understand the risks better than any, and know exactly what they’re doing on the online casino floor. If you manage to get VIP-status at your favourite casino, then be sure to check out the VIP cashback deals on offer. Hook yourself up with a big cashback incentive like 15% to 30% unlimited cashback on all of your losses, cross platform. This means when you hit a losing month, you will get a % of your stake back for the following month. No questions asked. Many casinos offer VIP cashback offers and deals.See also: USA cashback bonus