Casino Cashback Bonuses 2022
Even the slightest glimpse of the online casino industry would give you a good idea of just how important casino bonuses are. Casinos are always on a mission to gather new customers and providing enticing bonuses is a fantastic way for casinos to achieve this.
Due to this online gamblers can see somewhat of an arms race between different online casinos and the bonuses they provide. Cashback bonuses are a great way for online casinos to reward loyal gamblers for playing at their casino.
Best Casino Cashback Bonuses
Online casinos offer cashback bonuses in various different forms and sizes. Some cashback bonuses can be included in a welcome bonus and others may be provided through a VIP rewards system or they can be awarded to existing players periodically.
Without further or due, newcasinos.io has put together a list of only the most alluring cashback bonuses on offer. The casinos we have provided within our list have been tested against a set of standard requirements which helps ensure we expose our viewers to only legitimate online casinos and cashback bonuses with fair Terms & Conditions.
Understanding Cashback Bonuses
Unfortunately, online gambling will most commonly be in favour of the casino providing the service. The phrase “The house always wins” didn’t come about for nothing, the reason for this is simply due to house edge! There is no casino game on earth that has a Return To Player percentage that is more than 99%.
This is because casinos are businesses and therefore must turn a profit, whether the house edge is at 1% or 10% this means there will always be a possibility of losing. However, not all hope is lost for online gamblers. Cashback bonuses allow frequent online gamblers to keep playing even though they’ve hit a losing streak.
Cashback bonuses will work extremely similar to the way that loyalty points work at an online casino. The bonus is awarded in relation to the number of wagers you have placed at the casino. Therefore an online casino will refund gamblers a percentage of the losses they have accumulated. This is a way for online casinos to keep customers interested in playing even when they have lost money.
The amount of cashback that is awarded will vary immensely from one online casino to the next. The most common cashback amounts you will see when sifting through various online casinos will range anywhere between 5% and 20% on the bets you have placed. Though this amount seems rather insignificant it is in fact a free reward for simply playing at the casino.
How Cashback bonuses work
Though cashback bonuses may seem complicated at first they are actually incredibly straightforward. Cashback bonuses will match the losses that players have accumulated at a certain percentage.
For example, if an online casino awards players a 10% cashback bonus of up to $100. This means a player can earn a maximum of $100 from a 10% cashback on their net losses. Therefore if a gambler were to lose $100 they would be awarded $10.
Remember that cashback bonuses will only reward players up to a maximum amount, in this case, the maximum amount to be earned from the cashback bonus is $100. After you have earned $100 from the net losses accumulated you will no longer receive a cashback on the wagers you place.
Cashback bonus Terms & Conditions
Though cashback bonuses may inherently have fewer Terms & Conditions attached to them as opposed to other casino bonuses. The Terms & Conditions that are attached to cashback bonuses should be heavily considered before they have been claimed.
Cashback bonus Wagering Requirements:
In most instances, cashback bonuses will not have any wagering requirements attached to them. This is because cashback bonuses are given to players that have already wagered at the online casino. It would be rather unfair for an online casino to place wagering requirements on a bonus that has been awarded to players in return for their losses.
Cashback Bonus Expiration Date:
Unfortunately, Cashback bonuses will not last forever, just about every casino bonus has an expiration date attached to it and cashback bonuses are no exception to this. As an online gambler, one should always consider when a cashback bonus expires as once this period has passed the bonus will void and will no longer be available for use.
Cashback Bonus Maximum Cap:
One of the most important Terms & Conditions to be aware of when considering cashback bonuses is the maximum cap of the cashback. The maximum cap on a cashback bonus is a fixed amount that essentially decides how much real money a player can earn from the cashback in total. After you have reached the maximum cap on the cashback bonus, no more funds will be awarded from this bonus.
Advantages & Disadvantages of Cashback bonuses
Claiming an online casino bonus is entirely up to the player, whether a player feels as though a bonus may benefit them or not the choice to claim this bonus falls onto the player’s decision. Cashback bonuses will lighten the harsh reality of losing real money at an online casino.
Most online casinos that offer cashback bonuses will allow the bonus to be used with the majority of the casino games provided, this can include slot games live dealer games, and table games such as Blackjack, Poker, Baccarat as well as Roulette.
Essentially Cashback bonuses allow players to change a few unlucky hands they have just lost. Cashback bonuses are a fantastic way for loyal online gamblers to extend their payrolls and receive a small percentage refund on all the losses they have accumulated. Let’s take a closer look at some of the advantages and disadvantages of cashback bonuses.
- Greater returns
- Extend gameplay
- Rewards loyal gamblers
- Little to no wagering requirements
- Simple to understand and claim
- Maximum cap attached
- Expiration date
- Only a percentage of your loss will be refunded
Different Types of Cashback Bonuses
The best cashback bonuses can come in various forms and sizes, however, the most common bonuses players can expect to encounter when online gambling can be defined in 5 different types of cashback bonuses.
Percentage Cashback Bonus
This is possibly the most available form of cashback bonus, an online casino will reward players with a percentage of the total losses they have accumulated.
Welcome Bonus & Cashback Bonus
This bonus is considered to be a classic among the best online casinos. Players will have to make their first deposit at the online casino and following their very first loss the players will be awarded a percentage cashback on the loss.
On-Going Cashback Bonus
On-going cashback bonuses are exactly what they suggest, ongoing. These types of cashback bonuses will not be restricted to a specific time frame, however, they may be confined to a specific casino game.
VIP Cashback Bonus
Online casinos will offer exclusive rewards to their high rollers through a VIP reward program. Some online casino VIP programs offer special cashback bonuses in the form of a percentage of your net losses on a daily, weekly, or monthly basis.
Free spins & Cashback Bonus
It has become rather popular for online casinos to combine bonuses in order to have an overall more enticing deal that will attract a larger customer base. Through this players can be awarded both free spins and a cashback bonus together. An online casino may even provide this type of cashback bonus in order to promote a slot game.
How to Claim a Cashback Bonus
Casino cashback bonuses are some of the easiest bonuses to claim within the online casino industry. This is simply because in order to claim the bonus all one needs to do is play casino games. Additionally, the cashback bonus will be instantly credited to your online casino account allowing players to use any payment method they prefer. Cashback bonuses will often have little or no wagering requirements meaning gamblers are not required to play through this bonus in order to claim it.
This essentially means that cashback bonuses are extremely easy to claim. The cashback bonus will not be affected by which payment method you decide to utilize in order to deposit funds into your casino account. However, when deciding to withdraw funds from your casino account that have been earned from the cashback bonus, there may be other fees or further wait times that players will have to abide by.
Here are a few steps to follow in order to claim a cashback bonus:
- Sign-up and verify your account at a selected online casino
- Deposit funds into your casino account
- Read the bonus terms & conditions
- Click on the button of the promotion to redeem it
- Ensure you only play casino games that are eligible for the cashback bonus
- The cashback bonus will be instantly credited when you meet the requirements
Are Cashback Bonuses Legit?
Of course, cashback bonuses are legit, in fact, they might even be some of the most rewarding bonuses for online gamblers to claim. This is because cashback bonuses do not require any extra deposits, and these bonuses also allow players to earn money from the losses they have accumulated. Inherently this will give players the opportunity to not risk any more funds than they had initially intended while also providing the opportunity to earn bonus funds.
As an online gambler, it is part of your duty to gamble responsibly and in order to gamble responsibly, you not only have to be absolutely sure you are playing at a licensed online casino and you should always ensure you have read the Terms & Conditions of the online casino before you begin playing.
Your first priority when looking to online gambling is ensuring the casino site you have considered playing at is fully licensed. One can decipher if an online casino is licensed by looking for an authentication seal from a reputable licensing body. You can also find several online casino review sites all over the internet, these reviews will essentially give a full breakdown of what to expect from the online casino.
If you’re unsure whether or not a casino is licensed we would advise you to steer clear of this casino and search for a more suitable one. It’s always important that you remember to gamble responsibly and read everything before you claim any casino bonuses.
A Conclusion To The Best Cashback bonuses
Though cashback bonuses are a fantastic way for online casinos to attract new players and reward loyal customers, the choice to claim these bonuses is entirely up to the player. Always ensure that you have fully read the Terms & Conditions of the cashback bonus before you attempt to claim it. Often times avoiding an online casino or bonus that you’re unsure of will be safer than claiming the bonus or playing at the casino.
Here at newcasinos.io we take pride in exposing our viewers to only reputable and established online casinos. Our list of the best casino cashback bonuses is sure to help guide you to extending your playtime at some of the most popular casinos within the industry and finally, remember to have fun!
Cashback Bonus FAQ
How do I claim a cashback bonus?
The majority of online casinos will offer you a cashback bonus if you have redeemed the promotion. This can often mean a player must use a bonus code, or click a link that states they have given permission for the online casino to them into the cashback bonus. In order to claim your cashback, simply follow the instructions in the promotion and you will receive the cash in your casino account once you have met the criteria.
Are cashback bonuses instant?
For the most part, cashback bonuses will be awarded to players instantly. Players will not have to face any processing delays such as bank transfer times, and cryptocurrency exchanges, gamblers will then be able to play with this bonus instantaneously. Players may be subject to waiting periods when looking to withdraw simply due to the payment method involved, and there may also be a processing fee for the withdrawal due to this we always advise our viewers to thoroughly read the bonus before claiming it.
What is the difference between a welcome bonus and a cashback bonus?
In general, welcome bonuses are mainly designed in order to get new gamblers to sign up at an online casino. This means that already existing players at an online casino will not be eligible to claim a welcome bonus. Whereas cashback bonuses are available to both new and current players on the casino site. Overall this will allow the online casino to reward its loyal players while enticing them to keep playing.
How does a cashback bonus work?
A cashback bonus is rewarded to both new and existing players at an online casino in order to award them bonus funds after they have lost a few hands at the casino. The amount of the cashback bonus will depend on the percentage matched on losses as well as the maximum cap attached to the bonus. Most often a cashback will have little to no wagering requirements attached as players are initially required to play in order to accumulate this bonus, placing large wagering requirements on this type of bonus would therefore be unfair.
Is there a minimum deposit amount for cashback bonuses?
A cashback deal may require players to deposit funds into their account or it may simply require entering a bonus code, and other times it may be credited for simply opting into the promotion by selecting it. Some casinos may impose a limit on how much players can lose for the cashback bonus to be valid.