A Cashback Bonus is awarded based on your total net losses over a specific period of time (or on a specific game) and calculated by a certain percentage. The used percentage differs from casino to casino but is usually set between 5% and 25%. The way in which the Cashback is credited on your account can also vary, and can either be granted as bonus money or as real cash.
How does a Cashback Bonus work?
As mentioned Cashback bonuses vary between casinos, but ultimately you will receive money back to your gaming account. Sometimes a casino will offer Cashback bonuses on certain games, thus encouraging customers to play the game with reduced risk. Most of the time however the Cashback bonus is calculated over a set period of time (daily, weekly, monthly or otherwise). Normally here’s also a limit to the amount of Cashback you’ll be able to receive. The best way to explain how Cashback works is by a couple of examples:
Cashback offer 1:
A casino offers you 5% Cashback when playing video slot South Park. You play through 100 Euros on this game and lose the lot. Your net loss therefore is 100 Euros. As a bonus, you will be awarded 5% of this back, so your account will be credited with 5 Euros.
Cashback offer 2:
You are offered 5% Cashback on your daily losses while playing on any Netent game on a certain day. You have 200 Euros in your account and play through this; you use your luck and finish the day at 400 Euros. As you have a net profit, you will not be awarded anything in this Cashback promotion.
Cashback offer 3:
You take part in a cashback promotion that offers 25% Cashback up to a maximum of 50 Euros. After your betting, you are 300 Euros down. You will receive 50 Euros bonus, as this is the maximum you can be rewarded back.
How do I qualify for a Cashback bonus?
Most online casinos only offer “real money” Cashback Bonuses to players taking part in the casino’s VIP or Loyal Player program. However, the more common Cashback Bonuses, by which bonus money as Cashback is granted, normally can be claimed by all players or by players who opt-in for the bonus. Some Netent Casinos have a standard Cashback program on a weekly or monthly basis.
Wagering Requirements Cashback Bonus
Requirements for cashing out a Cashback bonus will vary from casino to casino. In some cases, wagering requirements can be as low as wagering the bonus as credited just 1 time. In other casinos, it can be as high as 10 times, but normally the turnover requirements for these bonuses tend to be much lower than for a deposit or reload bonus received.
Top Up Bonus vs Cashback
A Top Up bonus is exactly the opposite of a Cashback Bonus. Instead of receiving (bonus) money as a percentage of your losses credited back, you’ll get extra money on top of your winnings. This kind of bonus usually is also calculated by a percentage on winnings in a certain period of time or on winnings from a certain game and can also be granted as real money or bonus credits. The percentages used in these bonuses are lower, normally 5% – 10%, and often a Top Up Bonus accompanies a Cashback Bonus.