Play the game, gamble your money… and if you don’t win, get your cash back! It sounds enticing, doesn’t it? Maybe even too good to be true: surely online casinos can’t be giving away money just because people are playing their games?
Well, cash back bonuses at online casinos really do exist: but of course there are some important terms and conditions to understand too. Here we take a look at what you need to know.
The idea of a cash back bonus is that when you’re facing a loss during your game, the casino shows that it “cares about” its customer by depositing some extra money into their account. Of course, the validity of this caring nature can be questioned – casinos definitely want you to play for longer, but whether that’s really because they want to give you a better opportunity to win or not, is open for debate.
Typically, a cash back bonus will be calculated based on a percentage of your net losses. As you have already gambled your funds you won’t lost anything: you instead get a percentage of your loss back if you are unfortunate enough to lose all of your deposit.
Cash back bonuses usually vary from five- to 25 per cent and are calculated on either a monthly, weekly or daily basis compared to the overall bonus policies of the casino.
Very often, cash back bonuses are presented as points – the idea being that the player can redeem them at a later point.
Generally, cash back bonuses are awarded to new players as a way of encouraging them to make deposits using real money. They are different from usual bonuses as the amount goes straight into your account.
Remember that each online casino will have its own cash back program – and this means that you should read its terms and conditions carefully.
Some of the things to watch out for include caps on the amount of cash back you can receive: this can be anywhere from just $5, all the way up to $500.
Also make sure you understand which games the cash back bonus is applicable too. It is very common, for example, for both roulette and blackjack to not be included within these programs. In addition, you will sometimes need to meet a certain wagering threshold before you qualify for the bonus. Don’t let you tempt this too far though: always play within your limitations.