Online casino bonuses are almost as old as the online casinos themselves and while it all started with a simple welcome bonus, the bonus evolved and mutated over the years, resulting in a wide range of online casino bonuses available. Of course, the welcome bonus is still there, but there’s much more to enjoy now with free spins bonuses being almost as popular as the welcome bonus. An online casino bonus emerging is the cashback bonus or cashback deal with the online casino re-funding a certain percentage of your net losses in bonus money and sometimes even in real cash!
Losing is still winning thanks to the cashback deal!
Debating a loss in an online casino with “I didn’t know I could lose” is out of the question because we all know that gambling brings the risk of losing. Casino or online casino, the house edge is invented for good reason. It’s like a shop adding 25% to a product, or even more, to make sure the rent of the shop can be paid as well as employees to serve the customers. So, it’s only fair that not all money earned by an online casino goes out again in winnings.
And even if you believe that an online casino doesn’t have the same obligations as a casino, you should see the huge organizations behind online casinos like Fun Casino, Casinoland, Mr Green, and LeoVegas. Operators can have up to 1000 employees to take care for. All for the sake of a smooth casino experience for you! So it’s only fair that you lose some and the online casino wins some, and sometimes you win a bit more, and sometimes the online casino wins a bit more. That’s almost an ancient explaining of how gambling works and it always worked like that and it will always work like that.
And even though the online casino needs the money to operate your “playground”, it’s yet working on ways to keep gambling as much fun for you as possible. It’s no secret that the welcome bonus is there to give players a very warm welcome and free spins to give players a free casino experience either as a try-out, to introduce players to a new game or just to award them a little extra to enjoy.
Cashback deals have been invented for different reasons. Everybody has been playing online casino games with real money knows the feeling of losing and I admit, it doesn’t feel good. Winning is making you feel invincible and brings up the best in you, but when it doesn’t go your way, it can have a bad influence on your mood. That’s not cool! I know that, you know that, and believe it or not, the online casino knows that. I think we all started from scratch playing our first casino games at a land-based casino. Nobody opens an online casino out of nothing, so we all know the feeling!
That’s exactly why cashback deals have been invented, to take away the rough edges of a casino loss. So when your online casino session ends up with a negative balance, don’t feel all too bad when a cashback deal is around. Even better, make sure you start your play session knowing that a cashback deal is available. Why? Simple, because if you know that a cashback is available and you end up with a negative balance, you also know that some of your net losses will be refunded. It’s like buying yourself some sort of insurance, but without paying anything extra for it.
So now you know the cashback deals can be seen as some sort of insurance like the insurance available in a Blackjack game. You also know how to make sure you take full advantage of this certain cashback bonus! Now let’s see what type of cashback deals are available out there as more and more online casino are offering them to their players.
Cashback deals video slots
When certain NetEnt slots are selected for a cashback, it’ll give you a chance to receive some of your losses back caused by a play session on this particular video slot. Let’s say that you’ve been offered a 10% cash back bonus on NetEnt’s Starburst™ slot, one of the most popular video slots used for online casino promotions. This means that when you play through €100, for example, and lost it all, your net losses amount €100. Now when the cash back bonus is 5%, it means you’ll receive back €5. Depending on the bonus, you’ll be awarded either €5 bonus money or €5 in cash.
General Cashback deals
Some cashback deals involve your total losses within a certain period. Let’s say the deal runs for 24 hours and within these 24 hours, you lose a total of €100. The cashback deal is let’s say 10% this time, then this means that €10 will be refunded into your account after the official end of the promotion.
Cashback deals with maximum
Now again there’s a 24-hour cashback deal available and besides the 10% percentage, you’ll also have a maximum to look out for. When you’re a small player and losses will never be above the €100, you’ll hardly ever hit the maximum of a cashback. Those high rollers out there, they will easily hit the maximum. If a maximum of let’s say €50 is mentioned and your net losses are €600, you’ll be refunded €50 instead of €60.
Wagering requirement free Cashback deals
Better than just a cashback deal is when a deal is offered and no wagering requirements are mentioned. Most of these bonuses have wagering requirements which means you have to play your refunded bonus money around a few times for it to become truly yours. How does it work?
Wagering requirements vary and this is simply because online casinos can set their own requirements, something to look out for. With welcome bonuses, for example, the wagering requirements can be as high as 50 which means you have to play the bonus amount 50 times and with a €1 bonus that doesn’t seem much as the one €1 will be truly yours when €50 is spent. However, when you want to completely own a €100 bonus, you have to play €5000. No problem for some if they get a year, but if you get a 30-day period, you should be happy already.
Lucky, there are online casinos that realize that this is not completely fair to players which is why the average lays between 25 and 35. When it comes to the cashback deals, the average turnaround is much lower. The wagering requirements for a cashback can be as low as 1 and in the worst case, it’s 10. Anything higher than 10 wouldn’t be fair. After all, it’s a bonus related to your losses.
How to apply for a cashback deal?
This all depends on the online casino you have your account with and that’s why I recommend to always read the terms & conditions before you use an online casino promotion. There might be a chance you have to opt-in for a cashback deal before you start to play while at other times, you have to contact the customer service qualify for the refund.