Cashback Offers: Turning Your Losses into Bonuses

One of the more interesting types of bonuses given away by online casinos is the cashback offer. These specialty bonuses reward you with bonus money whenever you lose enough. If you make a large deposit and lose most of that money, a cashback bonus will help you get some of it back to play again. These offers come with terms and conditions just like any other bonus, but they can be another tool to help you collect as many bonuses as possible from your casino.

How Do Cashback Bonuses Work?

Cashback bonus offers are simple on the surface. Most offers give you back a percentage of the money that you lost. When you deposit $1,000 with a 10% cashback bonus, you'll get $100 in bonus money if you lose your cash. There will likely be extra requirements placed on that bonus money as well, such as wagering requirements, but it's possible to turn lost money into bonus money using cashback bonus offers.

Look Closely at the Percentage Back

When comparing different cashback bonus offers, you should look at the percent of cashback offered first. This percentage determines how much money you get back. A 10% bonus is pretty standard, but some casinos offer 15% or even 25%. Look at the many different offers and note the ones that reward you with a high percent of cash back.

Consider the Payout Limits

You'll likely have to dig through the terms and conditions of the bonus to find this information, but many cashback offers come with payout limits. The limit is the most bonus money you can claim from an offer. It doesn't matter how much cash you add to your account, the limit is controls your total payout. Look to see if there is a limit because a generous cashback bonus might not be as generous as it first seems if it cuts you off sooner than the others do.

Know the Wagering Requirements

A cashback bonus isn't any good to you if you cannot withdraw your cash rewards or play with them like real money. Most cashback offers have wagering requirements attached to them. These requirements specify that you must wager 10x, 20x, or even 40x the amount of cash you receive from the offer at specific games before the bonus money is free for you to withdraw. If you have low wagering requirements, you'll have an easier time utilizing your bonus money.

Is the Offer Tied to the VIP Program

Cashback offers, more than any other, are tied to the VIP or loyalty programs at online casinos. If the casino offers what seems like an amazing amount of cashback each week, you may have to be a top VIP member to claim the highest cashback percentage. Learn if the offer is specific to certain VIP players, and find out what you would get at a lower VIP level to properly evaluate an offer.

Don't Join a Casino Just for Cashback

While cashback bonuses can be lucrative when combined with other promotions, you should never join an online casino only for its cashback offers. By their design, cashback bonuses reward you for losing money. Cashback offers are a good way for you to increase your casino balance. You're better off winning than losing to claim cashback though. That's why you should look at reload bonuses, free spins, and the other bonus offers that you claim while making deposits. These bonuses can be claimed when you win under the right circumstances, increasing the amount of your winnings. The cashback offers are just an insurance policy, giving you some more money to keep you playing longer.

Cashback bonuses are powerful perks, but they are only one of many bonus types offered by an online casino. Use your knowledge to find the best cashback offers while also finding a site with decent welcome, reload, and loyalty bonuses.