Casinos, both land-based and online, have always been about giving punters bonuses from time to time. These bonuses are meant to draw clients to play at one casino and not the next one since we all love free things. However, instead of the bonuses being a way to draw in new clients while maintaining those who already have accounts with the casino, they are also a way of saying “Thank you” for investing your money. Once specific way of doing that is by using the cashback bonus.
A cashback casino bonus is an amount given to a punter who has lost their bankroll during their gambling session. The house usually returns a percentage of the client’s lost bankroll either as cash or credit to play with in future. A cashback bonus will give you back a portion of the money you will have lost during your play.
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UK customers don’t have much to lose when taking part in this kind of promotion. It allows you to refund the real or the bonus cash you have in an account if you wasted it while playing casino games. It is usually counted as a percentage of one’s net losses. This promotion can be tied up only to a particular game such as let’s say, the South Park slot. If you claim a 5% cashback giveaway and stake $100 which you end up wasting, $5 is added to your account. However, this bonus can also be granted on a certain day of the week and can count for all casino games.
Why a Cashback Bonus?
- It is a way to recover some of the money you lost to the house while gambling. Depending on the amount you lost, you will receive a bonus of between 5% and 20% which may boost your next bankroll.
- It can be considered a reward for the amount of time you spent playing their games. It can also be considered a reward for the money you’ve also spent there.
The amount given back often ranges from about 5%-20% of the amount the player lost. This means that if the house is offering a 10% cash back incentive, you lose $400 playing at the casino, you will receive $40. This amount may not be the same for every player even in the same gambling establishment. If you are VIP, your cashback percentage can be higher than that of regular punters. The amount is, however, directly proportional to the amount you spent between two cashback periods.
Land-based casinos also offer cash back bonuses, but instead of cash or credit back, the house rewards you with meals, upgrades and on-property goodies back rather than money.
Who Is the Cashback Bonus Awarded to
The people awarded with this incentive usually vary from one casino to another. Mostly though, the refund is usually rewarded to people who have spent a certain amount, and have lost it to the casino. It is usually awarded to punters whom casinos consider as most loyal. You will also be required to have spent a certain amount of money and lost a certain percentage before you can be included in the list of the people required to receive this incentive.
The amount of money that you must spend to warrant a cashback also varies from one casino to another. It is, however, directly related to the amount you will have lost while playing at the house. To receive a larger cashback, you will need to lose a larger portion of your bankroll to the casino.
How Often Are Cash Back Awarded
This also varies from one casino to another. Some casino reward cash-backs monthly while others do it once every few weeks. It is important that you are aware of the timings, so you know whether to expect a bonus or not.
The bonus may also be a full-time promotion or a special offer. Find out which one it is at your casino of choice to avoid losing out on it. This you can do by checking your emails very often. Check even the spam mail to ensure the promotional mail didn’t go there, and you failed to see when the offer was starting or even when it is expected to come to completion.
How Do Cashbacks Operate
This varies from one gambling house to another.
- For some, you have to request for a cash-back in order to receive it. This one is not offered to players automatically. You need to, therefore, send an email or speak to the customer support representative to inform them that you are due for cash back.
- Other moneyback programs operate automatically. If the payments are made monthly, at some point during the month, some money will be deposited into your account or credit will be issued to you. You will be notified of these developments, so you need to check your emails often.
- In other casinos, you will be required to wager your money back in order to utilize the amount. The wagering requirement differs in every gambling house. Whilst not all casinos ask for this bonus to be wagered, those who do don’t set very high wagering requirements. After All, you have already spent some substantial amount with them already.
- This incentive may not operate for all games played at the casino. The offer may be awarded for money lost in certain games only. These games are usually well stated in the terms and conditions of the casino. Cashback may not be offered for every game because not all games are as beneficial as others. Offering a cashback for money lost on blackjack, for example, may not be a wise decision because Blackjack rakes in very little for the house.
Terms and Conditions
This cannot be overemphasized enough. Always read the terms and conditions of a casino before getting yourself into anything related to the casino, be it a sign-up, or a bonus offer and now, the cashback bonus. The terms and conditions are tedious, we know. But they are necessary. All the requirements for the money-back, the wagering requirements, for how long the bonus is valid are all explained in the terms and conditions. Going through this bit will help you decide whether the bonus is worth it or not. Also important to look for is the cap stated for the bonus. This is the limit to which the bonus applies. The amounts vary from casino to casinos, and sometimes, from one player to another.
Reading the terms and conditions will ensure that you avoid tying yourself to offers that seem good and end up dealing with conditions that may not be very favorable for you.
Choosing a Cashback Program
With all the offer going around, it might be confusing to decide which one will work best for your needs. It is imperative, therefore, that you find a program that will serve your needs the best way possible. These factors should be considered before you settle on a bonus plan;
- How much money do you plan to wager? Is the amount going to be enough to warrant a cashback bonus? Since you are aware of the amount you intend to wager, it would be best to settle on a casino whose incentive is way within the bankroll you intend to wager at the site. Research on the various cashback bonuses on offer in order to settle on one that will best work for you.
- Is the site great? Does it cater to your needs? Are you joining it because it has been proven fair, it has great customer support, is the software good, speeds and graphics well within what you desire of a casino? Don’t settle on a casino only because of the bonuses. While they may be appealing, the excitement of playing games will not be there for long if the site does not work well for you.
- Is the cashback bonus a full-time promotion or just a one time offer? If it is a full-time promotion, then it makes sense to join the house because you will be rewarded every time you reach the limit of stake amount required to earn a money-back bonus. If it is a one-off affair, and you join the casino for this one reason, you will be left with a broken heart.
The cashback bonus is a great initiative. Being able to earn back some of the money you lost while gambling can be a boost of your morale and help encourage you to try again. It is important that you do not spend more than you can afford to lose all in the bid to get to the cap within which you can earn. Whether the bonus is as appealing as this, it still doesn’t warrant overspending which may lead to more financial problems.