If you are a passionate player at online casinos, you know the importance of a good insurance policy that will cover the possible losses. Well, that’s where cashback bonuses come into play. Money-back promos are in high demand, especially among loyal customers. What makes them so good is that no matter what type of player you are, you have a way to protect yourself from a losing session.
If you want to know more about casino cashback offers, Chap has got you covered. In this review, we will discuss this type of iGaming promotion and the sites that offer the best deals. Who says that you can’t win something even if you lose?
What Is Casino Cashback Bonus?
Online casino operators must provide many incentives to attract and keep their players. An excellent welcome bonus is more than enough to attract customers. However, what keeps them interested are the ongoing promotions. Of course, rebate bonuses are the first to come to mind here.
The primary reason cashback casino bonuses exist is that they help players keep their spirits up even when they lose. In simple words, a cashback deal is a percentage of the players’ losses over a specific period of time that the casino refunds to them. Online casino cashback bonuses may come daily, weekly, or monthly. Sometimes they are only offered to VIP players, and sometimes to all players who meet the requirements.
Cashback isn’t a new concept. In fact, it’s also a popular credit card perk. Basically, you get back a share of what you’ve spent or lost. What you receive depends on where you play your favorite casino games and the operator’s program.
How Does a Cashback Bonus Work?
Different online casino platforms offer different cashback percentages, and it mostly depends on the players’ activity. In general, a regular player who spends more money at an iGaming destination every month will get more cashback than someone who plays occasionally. Some operators give cashback on each bet the player makes. Others allow players to accumulate the refund over wins and losses.
Wonder how money-back bonuses work? Your Chap is here to explain everything in detail. Typically, cashback bonuses start at 5% and may go up 30%. As we said, the more you spend, the more you will receive in rebate. Every operator calculates the cashback amount differently. Some estimate the net wins. Generally, operators sum up the player’s daily, weekly or monthly losses and refund a percentage of them. Obviously, nobody wants to lose but, the cashback bonus serves to soften the blow.
How To Calculate Your Casino Cashback?
Let’s say you are playing at an online casino that promotes a 10% cashback on all losses across a week’s play. You started playing with a $100 deposit, and at first, you were lucky enough to win an extra $50. In that case, you won’t get money back because you haven’t lost anything yet. However, if you continue playing and, for example, you lose those $50 plus another $50 from your initial deposit, it means you are $50 down. With that, you’ll get a 10% cashback of your loss of $50, which is $5.
If you are a VIP player, you are sure to get a much better return for your losses. For example, if the total amount of your losses in a week is $200, and the operator provides a 30% cashback bonus, you will get $60 cashback. CasinoChap finds this more than fair as it covers almost a third of your weekly losses.
Types of Casino Cashback
There are a few types of rebate bonuses, depending on the player, and of course, the operator that provides them. What’s also important to know is that some operators may offer cashback only when you play specific types of games. Some operators only offer welcome cashback 100 slot bonuses. Others promote cashback deals on the table or live dealer games. Here’s what to expect:
- VIP Cashback Bonus – Loyal players at an online casino are guaranteed to get excellent cashback bonuses as a reward for playing all kinds of casino games.
- Slots Cashback – Whether you like classic, video, or jackpot slots, you can benefit from a promo welcome cashback 100 slot bonus as long as you are a regular. This promo gets you a rebate only on slots losses.
- Live Casino Cashback – Bet on live dealer games with real cash, and you will qualify for this bonus. You can get anywhere from a 5% to 25% rebate on losses at the live dealer section.
- Weekend Cashback – These deals grant rebates on losses or deposits seen over the weekend only. For example, let’s say there’s a 10% weekend rebate. If you lose $100 on a Thursday and $50 on a Saturday, you’ll get cash back of only $5.
Common Cashback Bonus Deals
As we said, different online casinos offer different amounts when it comes to cashback bonuses. Sometimes, operators determine the size of the bonus, and sometimes, it comes directly from the game developers. Whatever the case is, there are a few different casino cashback offers Chap wants you to have in mind. Here are the most common ones:
- 5% Cashback – Although a 5% cash back doesn’t seem like much, it is a genuine perk that you shouldn’t just brush away.
- 10% Cashback – This is what most online casinos offer to players. A 10% cashback bonus is what you can typically get as a standard user.
- 25% Cashback – These are reserved for high rollers loyal to a specific casino. They are awarded daily, weekly, monthly, quarterly, or yearly – it depends on the casino.
- 30% or more Cashback – Players with a higher VIP status can easily get a 30 or 35% cashback deal. They have already proved their loyalty, so the casino is willing to reward them more for it.
Cashback Terms and Conditions
Cashback bonuses are great, but, as always, there’s a catch somewhere. Often, we skip the T&C page and jump straight to the prize simply because we are lazy. This is entirely wrong. Chap recommends you read the rules associated with any bonus thoroughly, as the most critical information is placed right there.
Reading the fine print, you will see if you qualify for the bonus, how you can claim it and if you can actually benefit from it. Therefore, before you opt-in, make sure you read and understand the terms and conditions associated with the cashback bonus casino offers. There are a few essential things you should take into consideration.
No Wagering Requirements
Besides the fact that cashback bonuses compensate for your losses, another characteristic makes them even more attractive. Most of the time, rebate bonuses come with no wagering requirements. Yes, you heard it right. Since they are free of wagering requirements, you can take advantage of them a lot easier.
Game Playthrough Contribution
Operators calculate the money-back percentage based on your losses over a certain period of time. Therefore, the more you play, the more you can expect to get back. Different casino games contribute differently to the cashback bonus. Some games do not contribute at all, and that’s why you must read all available information about game contribution before playing.
Cashback Period and Max Rebate
Some casinos calculate cashback bonuses on a daily basis, and others do it weekly. However, some operators allow players to accumulate more and calculate the bonus over the weekends or specific days during the week. It is not unusual for operators to put a cap on the maximum amount you can win as a casino cashback bonus. What’s important is that they clearly state the limit along with the money-back offer, so everything is transparent.
Benefits and Drawbacks
Rebate bonuses may or may not be your thing. After reading the terms and conditions, it’s entirely up to you to decide for or against them. Although they’re available to all players, usually they’re claimed by high rollers because they are accustomed to spending more and take higher risks than standard players.
After a very unlucky session, getting a rebate is like a new chance to play smarter and beat the odds next time. Here we have a few pros and cons of casino cashback offers that you should know before you opt-in.
- The main benefit of these bonuses is that you win even when you lose. So, you basically get a second chance to hit that massive jackpot.
- Cashback extends your gameplay. Using it, you don’t need to make another payment for playing again. Instead, you can just wager with the freshly received rebate.
- If you are an active player, you can receive a cashback casino bonus While getting money back means you’ve lost, it’s still better than receiving nothing.
- You feel appreciated. Money-back promotions are a token of appreciation, if nothing else.
- Most cashback offers are limited to only a few hours. It depends on the operator, but sometimes you may have a short period of time to use it up, which may stress you out.
- Not all casino games have money-back bonuses. Sometimes with some games, the operator won’t consider all your losses.
- Unfortunately, to get a cashback bonus, you have to lose. Chap knows that losing isn’t the primary goal of fellow iGaming enthusiasts.
Casinos with Best Cashback Offers
In the sea of casino platforms online, finding a reputable one that ticks all the boxes is not an easy task. But, don’t worry. CasinoChap is committed to helping all players find the best deals on the Internet. Considering a few key factors, we curated a list of the iGaming operators with the best casino cashback offers. You won’t make a mistake choosing any of the brands listed on this page.
Grab the online casino cashback bonus and get back a part of your losses.