Now players have something to gain, even when they are losing.
One special offer that players are particularly fond of at online casinos are cashback bonuses. These promotional offers are usually available for both new players and longstanding members.
Not all online casinos offer this type of bonus. However the trend is showing that more and more cashback bonus casinos are popping up and introducing this money back deal as a permanent fixture in their promotional section. Traditionally these cashback bonuses have appeared throughout the year at times like Christmas or to coincide with other special events such as the Royal Wedding which saw several online casinos offering cashback bonuses.
What is a Cashback Bonus?
Cashback Bonuses are cash rewards paid back to the player on a weekly, monthly or yearly basis. The amount returned is usually a percentage taken from the amount a player has spent or lost during a selected period of time (which varies with each online casino).
Casino cashback bonuses are a way of looking after the unlucky players who don’t seem to be winning and are therefore a consolation prize for losing. This is a way of repaying the customer for spending their hard earned cash with the casino and thanking them for their loyalty. By offering cashback bonuses, players are still taking something back despite losing in the casino.
Most cashback bonus casinos offer players anywhere up to 15% cash back, but this could be on losses of anywhere between $100 and $1000. Casinos could also base the losses on a seven day period, or over as much as a 12 month period.
Advantages of Cashback Bonuses
The obvious advantage of cashback bonuses are that although a player may be losing money, they are still getting something in return for the money they have spent. The more money a player spends, the more cashback they are likely to receive. So even though you may be experiencing a spot of bad luck, there is light at the end of the tunnel in the form of a small reimbursement of cash.
Cashback Bonus Terms and Conditions
Players will usually have to complete certain wagering requirements to qualify for the cashback bonus. They cannot simply deposit $10 over a four week period and expect to receive cashback if they lose. Each casino will have different wagering requirements that must be completed within a certain time period otherwise the player will not be eligible to receive any cashback.
The games being played also affect the bonus wagering requirement terms. The cashback bonus is generally limited to losses made on individual games. For example, table and card games such as roulette and baccarat will not count towards the bonus as much as games like Slots and Keno would. Players would need to wager more on the table and card games than they would the slots, scratchies or video poker games to complete their wagering requirements for some cashback bonuses.