Cashback bonuses are an new innovative way of casinos to keep players returning for more even when their last experience did not provide them with a great win. The cash back bonus is a refund in bonus money or even real cash that is given back to players if they have lost money while playing. The bonus is normally worked as a percentage of net losses. When the cashback bonus comes into effect the player have already wagered the funds and have nothing to lose, so taking part in a promotion of this king have absolutely no disadvantages. This bonus is getting more and more popular to ensure players return after a loss.
How Cashback Bonuses Work
The cashback bonuses varies between casinos, but the ultimate outcome is that players receive an amount free as a percentage of the money played. The cashback bonus is normally worked over a set period of time and can be calculated on daily, weekly, monthly or other as indicated by the specific casino) There is a limit set to the amount players can receive as a cash back bonus. Example: if the casino offers a 5% cash back bonus for the video slot South Park and the player played 100 euros on the game with no wins, the net loss amounts to 100 euros and the cash back bonus of 5% will be 5 euros credited to your online casino account.
Cashback bonuses on daily losses are also offered at some casinos and in this case if the player uses 200 euros and play it through and end up with 400 euros for the day it is not possible to claim a bonus as the player ended with a profit. Players who takes part in a cash back promotion offering 25% cash back up to 50 euros and then play with 300 euros losing it all, will receive the 50 euros offered as a maximum cashback reward.
Qualifying for a Cashback Bonus
The cashback bonus offers or promotions is offered by most casinos to players who are part of the VIP or loyalty programs. For the loyalty club member the cashback bonus are offered on a points system and players can collect their points to be exchanged for cash backs. The benefit of the points system is that players can decide when to claim their bonuses earned.
Cashback Wagering Requirements
Requirements regarding wagering is generally really low on the cashback bonuses because the player already wagered a fair amount of cash to be rewarded the cash back bonus. The wagering requirement is as low as 1 x times and at other casinos it go up to 10 X times, it is important that players read the rules.
This is a great bonus and rewards the player for his loyalty and contributes a percentage to make up for his loses and offers him the change to enjoy some additional spins on the house, which offers free winning chances. The player can also cash in the cashback bonuses received from accumulating points through a loyalty reward system.