As well as the matching deposit bonus, the free spins bonus, and the no deposit bonus (which is much less common these days), the other common online casino bonus that you are likely to come across at many sites today is the cashback bonus.
However, it’s generally not included as part of the welcome bonus. Instead, any cashback that you can claim is often part of the VIP loyalty rewards program or as a standalone promotional offer. Learn more about cash back bonuses right here.
What are cash back bonuses at online casinos?
Cashback bonuses at online casinos are just as the name suggests. You can get cashback for any money that you deposit, spend and lose at an online casino. In other words, some online casino operators give you a little cash bonus for your efforts, so all is not completely lost.
At some online casinos, the cashback you receive will arrive as ‘bonus funds,’ which means it must be wagered a certain amount of times before you can withdraw, and at other online casinos, it will arrive in your main balance, which means that you’re free to withdraw without any restrictions.
A closer look at how cashback bonuses work
Many of today’s best new online casino cashback offers work in pretty much the same way. Let’s just say that the casino operator is giving away up to 25% cashback on all losses, up to $/€/£500.00 (or equivalent currency value).
If you deposit $/€/£50.00 and then lose almost all of your entire bankroll before making another deposit, the 25% cashback bonus means that you will get $/€/£12.50 back in either real money or bonus money. Any cashback that you receive may then need to be wagered anywhere from 10x times up to 60x times before you can withdraw. The wagering requirements vary a great deal from one online casino to the next.
What are wagering requirements?
The wagering requirements are attached to almost every online casino bonus out there today. This particular term is also commonly referred to as the rollover requirement or playthrough requirement, and it’s something that you cannot avoid. Using the same example above, let’s say that you receive $/€/£12.50 in cashback, and it comes with a 25x wagering/playthrough requirement.
This means that your $/€/£12.50 would need to be wagered 25x times on any of the selected games before you could withdraw any winnings that you have left over. Therefore, you would need to wager a total of $/€/£312.50 before you could withdraw. As soon as you have completed your wagering requirements, any restrictions that were placed on withdrawing your cashback bonus winnings will be lifted, and you will be free to withdraw.
Your balance generally needs to be relatively low (and perhaps between a certain amount, say $/€/£0.00 and $/€/£3.00) before you can claim your cashback. The best thing to do would be to always read through the cashback bonus terms and conditions before accepting an offer to avoid disappointment.
At some online casinos, the cashback will automatically arrive in your casino account, but at other casinos, you may need to get in touch with a friendly and professionally trained player support agent (either via email, live chat, or toll-free telephone) and ask them to sort your cashback out for you. If you qualify for cashback, they should be able to sort it immediately for you.
Cashback as part of the VIP loyalty program
Cashback may also be offered as part of the VIP loyalty program as a way of saying thank you for playing at the casino. You may have spent hundreds at the casino over a certain period of time, and then one day, when you log in to your account, you may find that the operator has dropped a small cashback bonus in your account.
These unrestricted funds can then be used to play any of the games without any wagering requirements, or you may be able to withdraw them straight away, again, without any restrictions.
What other cashback bonuses are there?
The other cashback bonus works in exactly the same way as the cashback bonuses mentioned above, but you may only be able to take advantage of these promotional offers on a certain day of the week or at certain times of the year. This is why it’s always a good idea to check the promotions page at your chosen online casino as often as possible for the very latest cashback deals.
As well as cash back bonuses, the promotions page may also have information or unique bonus codes for the latest matching deposit bonuses or free spins bonuses.
