Cashback is a player-friendly bonus that can get you back part of the money you lost while playing casino games. The cashback rate is usually between 20% and 100% of the deposited amount, but it varies depending on the online casino.
For those who want to learn the exact cashback amount, please check the bonus terms on the official casino site. But no matter the percentage, it’s one of the best casino bonuses that will always be in demand.
To learn more about how you can benefit from this bonus, continue reading this article.
How Does Cashback Work?
As you know by now, cashback is a bonus that returns part of the lost amount. For instance,
if the casino offers 50% cashback, you’ll get back 50% of the lost amount. So half of what you lost will be refunded to your account.
However, please note that this bonus has a maximum limit. Therefore, if you deposit more than the maximum amount and lose, even if you get 100% cashback, you will not be refunded the full amount you lost.
For example, let’s say you got yourself a 100% cashback bonus up to $200. Let’s say you deposit $300, play, and lose all the money.
Since there is a clear statement of “up to $200”, the amount returned will be “$200”.
In this way, no matter how much you deposit and lose, you will only get back the maximum amount, so be careful. Conversely, in this case, if you lose less than $200, you will receive a full refund.
Now let’s see what happens in the case of 50% cashback. This time, the maximum cashback amount is $100.
The amount of cashback is clearly stated in the bonus terms, so be sure to check it.
Precautions When Using Cashback Bonuses
As with online casino bonuses, there are some caveats with cashback bonuses as well. If you are not careful, you may end up losing a big chunk of your bankroll.
Here is what you need to pay attention to.
Some games may be excluded from cashback bonuses. A non-eligible game means that you won’t receive a refund even if you played the game and lost a certain sum.
Thus, if you play games that are not eligible, you may miss the cashback you were supposed to get. To prevent this, make sure to check the list of available games.
Timing of Deposits and Withdrawals
When getting a cashback bonus, you have to be careful about the timing of deposits and withdrawals.
In some casinos, if you make the next deposit or withdrawal after the first deposit and before the account balance reaches 0, you will not be able to get the cashback bonus.
Therefore, it is better to make the next deposit or withdrawal after receiving the cashback.
The timing of the cashback bonus also varies from casino to casino. It is also stated in the bonus terms.
Cashback casino bonuses often have no wagering requirements, or they’re extremely low. The ones without wagering requirements can be withdrawn as soon as you receive them.
Therefore, if you are lucky, even if you lose, you will get most of the money back. Moreover, you can withdraw them immediately, so there is no risk involved.
On the other hand, you should be careful about cashback bonuses that come attached with wagering requirements.
For example, let’s say you received a $100 cashback bonus with 10x wagering requirements. You cannot withdraw money unless you bet $100 x 10x for a total of $1000.
Once again, be sure to check the bonus terms and conditions to see how high the wagering requirements are.
As you can see, the advantages of the cashback casino bonuses far outweigh the disadvantages, so there is no reason not to claim them as long as you’re attentive.