The concept of cashback has been implemented for many years across different industries. It was basically developed as a customer retention tool, and the customers very well received it. It is the same as you spend a certain amount of money in a shop, and you get rewarded with a gift card, while the gift card is credited with the percentage of money that you have spent.
In the online casino world, cashback is the return of your losses that get transferred into cash directly to your account. The reason for the casinos to offer cashback bonus has immense strategic potential. Normally there is a percentage of cashback bonuses on the money that you have spent, and you can use this cash to turn the tides in your favour.
Casinos offer cashback
What is a cashback bonus?
The online casino awards a cashback bonus based on the total losses over a specific period of time or on a particular game, and a certain percentage normally calculates this bonus. The percentage used basically differs from one casino to another but is normally set from 5% to 25%. The way through which the cashback bonus is credited to your account also varies. It can either be granted to you as bonus money or real cash.
How does a cashback bonus work?
Cashback bonuses vary between different casinos, but ultimately you will be able to receive money back to your gaming account. Different casinos have different rules. Sometimes there are promotions offered on specific games, and this way, the customer is encouraged to play the game with reduced risk.
Mostly the cashback is calculated over a set period of time i.e., daily, weekly or monthly, and there is a limit to the amount that you can receive in your account. Unlike the welcome bonuses or the no deposit bonuses that are most of the time offered to the newly registered players, the cashback bonuses are offered to the ones who already have deposited an amount and played their favourite games for money.
While other types of bonuses come in various forms, the cashback bonuses normally follow the same pattern no matter which online casino you happen to choose. The terms and conditions that are related to the cashback bonuses do vary from casino to casino, but the fundamental premise always remains the same.
The cashback bonuses offered to the online casino players are normally granted on a daily or weekly basis, but some cashback bonuses are offered on monthly bases on higher rates of refund for the losses of the casino players over a period of one month. Whatever the way, cashback bonuses are, no doubt, a super way to keep your bankroll moving during any unfortunate losing sessions.
Difference between cashback bonus and welcome bonus
There is a huge variety of casino bonuses, and the players can take advantage of different lucrative and exclusive bonuses as well as promotions that include no deposit bonuses, welcome bonuses, reload bonuses, free spins, and also the cashback bonuses. Some bonus offers are only offered to the new online players like welcome bonuses and no deposit bonuses, whereas the cashback bonuses are available to the players that go for real money games at the casino website.
As welcome bonuses are offered to the newly registered players upon registration and making the first deposit, the cashback bonuses are offered to the players who are already registered and have played and deposited at their chosen online casino. Keep in mind that no deposit bonuses and the welcome bonuses offer plenty of free spins to the players, but the cashback bonuses do not come with any free spins, but only with certain cash amounts that are returned to the player’s account.
Another major difference between the cashback bonuses and other types of bonuses is the expiration date. The welcome and free spins bonuses are active for longer periods of time, whereas the cashback bonuses are time-limited and tend to last for short time periods. Also, these bonuses can be claimed on certain days and times, while welcome bonuses are offered for a long period of time.
The players can think of the cashback bonuses as some type of insurance as cashback bonuses refund some amount of losses of the player over the defined period of time, and with this amount, the players can gain some profit even when their day is not that lucky. In some cases, the refunded money comes back to the player in the form of real cash and is returned to the player’s casino account, while in other cases, the refunded amount comes in the form of bonus money that the players can use by playing the offered games.
Advantages of cashback bonus
- Just like other bonuses and promotions, the lucrative cashback bonuses are a way of engaging the players who are already registered and attracting new customers.
- The casinos would like online players to stay for some reason and keep playing their games, especially when they suffer losses. By offering them cashback bonuses, the players are motivated by the online casinos to keep playing and not to switch for their competitors.
- Even though cashback bonuses don’t make the players very rich, but the amount that they get through such offers is enough to compensate for their losses, as some players often recuperate the entire lost amount with the cashback bonus money.
- In general, cashback bonuses are considered a type of insurance for online players. These bonuses offer a win-win situation for both the players and the online casinos.
Finding casinos with cashback offers
If you love the sound of cashback offers, you should know that there are many popular online casinos. The companies behind these casinos spend a lot of money every year on their Customer Relationship Management departments to keep as many players playing as possible.
One of the common tactics to retain the players is to offer them cashback bonuses. There are days for a player when the chances of winning seem to drop, and the player starts thinking to quit playing casinos. This is where cashback offers to play its part, and these promotions help you grab some of the lost funds and feel a bit better.
It is quite easy to understand the reason why cashback is so popular, and so many casinos offer it. Our website is committed to informing you of the latest casino industry news that has enabled us to inform you of a number of casinos that offer cashback bonuses.