October 4, 2023 – CasinoBloke
There’s nothing quite like a good casino bonus deal to get someone interested in an online casino. There are many types of bonuses and special offers out there, and the highly sought-after cashback is just one of them.
But what does cashback mean in online casinos, and how exactly does it work? That’s exactly what this guide will explain.
In this article, we’ll start by explaining cashback meaning in the context of online casino promotions. We’ll also dive into the details, types, and pros and cons of this type of offer. Lastly, we’ll recommend some top cashback bonuses that you can take advantage of right now.
Cashback Casino Bonuses – Meaning and Definition
The term cashback means that the casino recoups a part of a player’s net losses. In other words, these types of promos allow you to minimize losses by giving you back a part of what you lost.
Arguably, cashback bonuses are one of the best bonuses in the long run. The reason is simple – because they’re a gift that keeps giving. Other popular types of promos such as welcome bonuses are great and all, but they’re mostly a one-off gift for new customers. Moreover, deposit bonuses and free spins usually come with highly restrictive wagering requirements and other drawbacks.
On the other hand, cashback deals are a straightforward, simple way to keep any losses in check.
Additionally, some casinos call this practice different names. For instance, you may come across ‘rebates’, which essentially means the same thing as cashback.
How Cashback Works in Casinos
Before we dive into the nitty-gritty, it’s important to note a few things.
For starters, pretty much every casino offer does things a little differently. There’s no universal definition for how cashback works because there are hundreds of small variations. That said, we can give you a generalized explanation to illustrate the most important bits.
Most cashback bonuses give you a simple, percentage-based return of a part of your net losses. Let’s unpack this statement.
‘Net losses’, in this context, means that you lost more money while betting at the casino than you won. Specifically, it’s the difference between the amount you put up as a stake and the total returns. Of course, this also means that you ended up with less money than your initial bankroll. If you win more than you lose, you’ll have net winnings instead.
For example, let’s say you wager a total of £200 during a single session. You win some, you lose some, and you end up with a total of £150. In this scenario, your net losses would be £50 (200 – 150 = 50),
Now, let’s say that the casino you’re playing at offers a 20% cashback on net losses. 20% of your £50 net loss comes out to £10. The cashback offer would grant you £10 back.
Things to Note
Now that we understand the basic notion of cashbacks, there are a few important details you’ll want to remember.
Most cashback deals are limited to net losses within a certain time period. For example, you may get a daily or weekly cashback. This means that you get a return based on the amount of money you lost during a single day or week.
Additionally, most such offers have a minimum net loss requirement. For example, if the minimum is set at £10, your total net losses during the specified period have to exceed £10 for you to get a cashback.
Moreover, rebates usually have a hard-cap maximum. For instance, you may only be able to receive up to a pre-set amount as cashback. Any losses sustained beyond that maximum do not grant rebate returns.
In many cases, casino rebates are given as bonus money instead of real money. This means that you can’t just take the money and withdraw it. It’s only usable for further betting on the same casino platform. This also means that you may have to worry about wagering requirements.
In other words, any rebate money may need to be wagered several times over before you can withdraw it. Naturally, the best cashback casino bonuses have no such requirements.
As always, remember to check the terms and conditions of any bonus deal you’re considering opting into. Details such as the ones we described above make the difference between a good cashback bonus and a poor one.
How to Find the Best Cashbacks in Online Casinos
Based on the details we outlined above, here are some conditions an offer has to meet to be considered “good” by the Casino Bloke. Of course, the offer doesn’t have to tick all of the boxes – just as many as possible.
High rebates – Obviously, better deals give back a higher percentage of losses
Longer timeframes – Weekly cashbacks are generally better than daily ones. The reasoning is simple – you are more likely to sustain notable losses over a week than a day. Moreover, daily cashbacks incentivize quick spending and not thinking your bets through.
Low minimums – Poor offers have high requirements that are tough to meet. Better options are easier to collect, and thus more useful
Smaller wagering requirements – The best casino cashback bonuses either award withdrawable cash as a rebate. If not, the bonus money you receive has reasonable requirements – the smaller, the better.
Availability – Some cashbacks are only there for new players, while others are limited-time offers. Ideally, a good cashback casino would have a standing cashback offer that’s available all the time.
Applicable to as many games as possible – Casino bonuses in general can be limited to a specific type of game, such as slots. Unlike deposit bonuses, however, cashback deals often also apply to live dealer tables such as roulette, blackjack, and more. That’s the kind of offer you’re looking for. Especially if you prefer types of games other than slots.
Note that we’re not listing these factors in any particular order. Very few bonuses fulfil all of the above criteria. As such, we suggest figuring out what’s more important to you and then finding a bonus that fits your preferences.
Where to Find the Best Cashback Bonuses
Now, the part we’ve all been waiting for – the best cashback bonuses in online casinos.
First of all, you can find a regularly updated list of top cashback offers here. New deals pop up all the time, so make sure to check back with CasinoBloke.com every now and then to see what’s available.
However, for your convenience, we’ll also list some excellent cashback bonuses right here.
By now, some of you are thinking – but don’t cashback offers mean you have to lose?
Yes, and that’s a good thing. We hate to burst your bubble, but most players lose more money gambling than they win. That’s how casinos earn money in the first place. The statistics of all casino games are stacked against you. However, cashbacks lessen the house advantage to a degree, which can be very valuable in the long run.
Hopefully, this guide to cashback bonuses in casinos explains why such offers can be so good. Although they’re not as flashy as big deposit bonuses, they’re a more reliable way of managing your spending while gambling.
How do you get cash back from a casino?
Through cashback offers and casino rebates. These special promotions return a part of your losses on a daily, weekly, or monthly basis. You can find some excellent casino cash back deals on this page.
What does 100 per cent cashback mean?
It means all net losses are returned to the player. No such deals exist, sadly – a casino is a business and it’s not likely to give up all of its profits.
Do casinos refund losses?
Some do, usually through promotions and special offers called cashback or rebates. These deals allow you to collect a percentage of your net losses in case you’ve lost more than you’ve won.
Not really. Although it’s nice to have, a cashback still means you’ve lost more than you’ve won in a casino. Still, in the long run, cashback offers can help mitigate losses and increase returns.