What is a Cash-Back Bonus?
Online casinos are big into offering bonuses of every kind to existing and potential players. No-deposit bonuses, welcome bonuses, free spins, and referral rewards are just some of the perks proffered to players at internet gambling venues. Another bonus that has become incredibly popular recently is what is known as the “cash-back bonus” – a name that sounds rather enticing although it doesn’t reveal much.
So, what is a cash-back bonus? In short, it is a re-fund issued to players when they lose a certain amount of money at an online casino. Cash-back bonuses are usually calculated as percentages and come with certain requirements. While cash-back bonuses are not going to make players rich, they do soften the blow when extensive losses are incurred. They are valuable options for certain players but may not be worth it for everyone.
Read on to answer the question: “what is a cash-back bonus?” and whether or not it would be of use to you.
Why Do Casinos Offer Cash-Back Bonuses?
For those players wondering “what is a cash-back bonus?” the question of why a casino would want to give something away for free also comes to mind.
They do it for the same reason they offer all their casino bonus options. Cash-back bonuses draw in new players and encourage existing players to wager more often in the knowledge that their losses will be lessened somewhat if luck is not on their side. These bonuses also enhance the playing experience, which is ordinarily soured somewhat whenever losses are incurred.
Cash-Back Bonus Terms and Conditions
What is a cash-back bonus may be quite different at different casinos – read the terms and conditions before you sign up. In general, cash back bonuses are based on a player’s total net losses over a set time period or, less commonly, on a specific game. Percentages returned to players’ accounts usually range between 5% and 25%.
The form that cash-back bonuses take also varies and may be either real money or bonus credits for extended play. In order to qualify for real money cash-back bonuses, players generally need to belong to the casino’s loyalty programme or VIP club, whilst pretty much everyone is eligible for bonus credits, provided they meet certain requirements.
This may include wagering more than a certain amount within a set time period or playing certain games or there being a minimum amount deposited in the player’s casino account at all times. Many casinos also cap their cash-back bonuses to a set amount per day, week or month. Although the cash-back bonus is paid out as a percentage of the net losses, this is oftentimes also capped at a certain amount, e.g. 25% up to a maximum of $ 50.
Opting in for cash-back bonuses sometimes also makes players ineligible for receiving other bonuses.
Clearly, the answer to the question “what is a cash-back bonus?” is quite different, depending on where you choose to play.
Are Casino Cash-Back Bonuses for You?
Although cash-back bonuses can certainly be very valuable to many players and go a long way to buffering losses and extending playing time and the odds of landing a payout, they are not necessarily for everyone.
Players who play frequently and enjoy sticking to one site are likely to derive more benefit from cash-back bonuses than those who only gamble occasionally and prefer to shop around. There are also some games, such as blackjack, that do not come with a cash-back bonus, which obviously detracts from their appeal to fans of these excluded games.