An Introduction to Cashback Bonuses
This refers to a type of reward in online casinos where the site gives back the player a portion of the money they lost through bets. Each site that offers cashback bonuses seeks to appreciate gamers for their loyalty to the platform and encourage continued gaming.
This type of offer is very straightforward. The site in question will avail the promotion on its site, running for a particular time. The site then proceeds to compensate the players who lost their money by giving some of it back. The difference between cashback bonuses on one site and another will boil down to the specifics of the promotion that includes the reward.
Factors to Consider When Playing for Cashback Bonuses
The idea of a player receiving some of their money back after losing it is irresistible. This refund, when given back, helps to boost the player's account. However, there are a few things to consider when it comes to playing with cashback bonuses.
1. The Type of Refund One Gets
All online casinos seek to differentiate themselves from their competition in one way or the other. In doing so, the sites that offer cashback bonuses, sometimes as part of a first deposit bonus, will tailor them specifically to meet the needs of their customers and the site's marketing objectives. When it comes to the type of refund that one can get, it will either be in the form of credits or cash.
For credits, these may include things like free spins on some of the slots options that the casino lists on its site. One may also get free entries into draws that the site in question holds. For cash refunds, on the other hand, the site will credit the player's account with a certain amount of money depending on how much they lost.
2. Cashback Bonuses Percentage
The percentage of the refund determines how much players will receive through their cashback bonuses. For most of the online gambling sites, they will be clear that they refund a certain percentage of the total amount lost on bets. Others will have a gradual reward system that sees players who lose more, receive more in cashbacks to compensate for the risk they took.
3. Promotions that Feature this Reward
Not all players with an account on a particular online casino will be eligible for a refund on the amount that they lose. Each gaming platform will run specific promotions which when players join, they become eligible for the refund when their bets lose. It is advisable for a player to regularly check the promotions page of their favorite online casino to see which promotions have cashback bonuses on them.
4. Withdrawable Cashback Bonuses
On some sites, one will get the chance to withdraw the amount that the site refunds into their account. This feature, however, is not common on most of the sites and therefore worth the time to probe rather than assume. It is also worth noting that this option is only possible for bonuses that feature cash refunds and not credits.
5. Wagering Requirements
As with any other bonus that one may redeem on an online gambling site, one will need to meet wagering requirements before activating the reward. The wagering requirements that each site sets will be dependent on its terms and conditions. The average wagering requirement, however, is between 30 and 40 times of the cash or credit one receives. If the site in question, however, allows a player to withdraw the reward received as cashback, it may have no wagering requirements in place. It is also crucial to identify which events contribute to the wagering requirement and play those specifically.
6. Validity of the Gift
Online gamblers need to keep in mind that each gift will only be redeemable within a specific period. It is, therefore, necessary to come up with a gambling strategy that will enable the player to meet the wagering requirements within that time. For most sites, once the time limit lapses, they consider the gift forfeited and players cannot recover such.
Cashbacks are among the most lucrative types of bonuses that most gambling sites run in their promotions. Players who qualify for such bonuses should read the terms and conditions of these promotions to ensure that they can redeem their rewards and boost their playing account.
These bonuses offer players a fall back plan in the event their bets fail to win. Through this, players still manage to recoup some of their investment to allow them to continue gaming on the platform. For players interested in taking advantage of this type of bonuses, it is advisable to check the promotions page of their online casinos for announcements on the same.