Cashback is a type of bonus at online casinos for those players who lose playing pokies or any other casino games. Also, online casinos offer Cashback to their players to retain them, and to cheer them up by giving them some percentage of cash back on their losses. Remember not all players win at online casinos if they do so then the casino business will be at a great loss. Before you come to find what is cashback online casinos, let’s first understand actually what is casino cashback.
What is Casino Cashback?
As said above Cashback is some return to the client of the lost money. The amount of cashback is calculated by the total amount that the player left in the casino account. The second parameter is a certain percentage, stipulated in advance by the rules of the action. It may depend on different criteria:
Like your status as a player, this means how often you play at the casino. Also, the online casino sees your casino activity and your amount of loss, and so on. As an example, the casino returns 15% weekly. The player deposited one thousand dollars, and by the end of the week, he had nine hundred dollars left in his balance. He is entitled to such a sum of payment: (1000 – 900)*15% = $15.
Interestingly the basic principle of cashback was not invented in the gambling market. It has been used in the banking industry for many decades. Some well-known banks have made favorable cashback conditions their main “chip”, attracting numerous customers.
But the point to note is that cashback in the casino is different from this offer in the financial sphere.
In banks, people are rewarded for using plastic credit or debit cards and carrying out other operations. They do not lose money but spend it in exchange for goods and services. Cashback becomes a pleasant addition for them and an incentive to continue cooperation with the institution.
At the online casino, players who are unlucky are deprived of funds. For them, cashback is a consolation and an opportunity to play and bet further. In other words, in a bank, cashback is a tool for earning money, and in a casino, it is a way to partially hedge against the complete loss of a bankroll.
Why online casinos offer cashback bonus?
Online casinos often offer cashback bonuses as a way to provide additional value and incentives to players. Cashback bonuses are designed to give players a percentage of their losses back as a form of compensation. Here are a few reasons why online casinos offer cashback bonuses:
- Player Retention: Cashback bonuses can help retain players by providing them with a safety net or a second chance. Knowing that a portion of their losses will be refunded can encourage players to continue playing at the casino rather than switching to a different platform.
- Customer Loyalty: Cashback bonuses are a way for online casinos to show appreciation to their loyal customers. By offering cashback, casinos can build a stronger relationship with players and increase their loyalty to the brand.
- Risk Management: Cashback bonuses also serve as a risk management tool for online casinos. By providing a portion of losses back to players, casinos can mitigate the impact of large losses and reduce the chances of players experiencing significant financial setbacks. This helps to create a more sustainable and responsible gambling environment.
- Attracting New Players: Cashback bonuses can be an attractive feature for new players who are looking for extra value. Knowing that they have the opportunity to receive a portion of their losses back can make the overall gambling experience more appealing, especially for those who are risk-averse or cautious about their bankroll.
- Competitive Advantage: In a crowded online gambling market, casinos use various promotions and bonuses, including cashback offers, to differentiate themselves from their competitors. By providing cashback bonuses, casinos can stand out and attract more players who are interested in this particular type of bonus.
It’s important to note that cashback bonuses often come with terms and conditions, such as wagering requirements or specific timeframes for claiming the cashback. Players should carefully read and understand these terms to ensure they can take full advantage of the bonus.
Types of Online Casino Cashback
As mentioned above types of online casino cashback depend upon many factors that are related to players. Note that the vast majority of operators charge cashback for a net loss (Net Losses Cashback). Much less common are promotions, according to which the return is calculated by other criteria: the number of deposits, total revenue or some other parameters.
The main characteristics of cashback, according to which it can be conditionally classified therefore depend upon
- Player type like will cashback be given to new player or regular player or for VIP players or all players at the online casino.
- Frequency of Cashback is also calculated daily, weekly, monthly or on some other schedule
- Cashback Size is the percentage of cashback calculation It can start with 1% and reach very large figures.
- Amount of Cashback like is there a maximum limit. Often you can not get more than the prescribed amount.
- Games that earn cashback like sometimes it works only on certain pokies or is not available on specified models.
- Cashback paid in real money or bonus credits
- If the cashback is provided in the form of bonuses, then how many times does it need to be wagered
- Often, online casinos introduce individual cashback conditions for players whom they consider promising.
Cashback percentage at online casinos most often is in the range from 5% to 20%. Sometimes it goes up to 25% or even 30%. However, sometimes new customers can only count on a minimum cashback, not exceeding a couple of percents.
If the online casino has a loyalty program with several levels, the cashback increases when the status of the player increases. The difference between the starting value and the maximum return can be enormous.
What are the Best Cashback Online Casinos?
Here are the best Cashback online casinos that any player can join even from Australia. These cashback online casinos allow Aussies to play with real money in real AUD or even BTC.
1. Ripper Casino
Enjoy a 25% cashback bonus at Ripper Casino, or a massive 40% cashback bonus. if you’re one of their VIP members, to play all pokies and keno games – including Buffalo Hold and Win, Lucky Ox Jackpots, Pot of Gold, Cash Pig and over 1000 other top titles. Every cashback bonus comes with just 10x playthrough and unlimited maximum cash out.
Cashback can be claimed on busted deposits as long as:
1. The deposit was not matched with a bonus.
2. The deposit was made within the previous 72 hours.
3. Your account balance is <$1.
To claim cashback:
1. Contact them via Live Chat.
2. Request cashback on your recent deposit(s).
3. We will credit the amount directly to your casino balance.
4. Then you can spin and win with all your favourites.
2. Ozwin Casino
This casino offers 25% to 50% cashback offers for new players who play pokies. To claim the cashback you can initiate a live chat with the casino team. Click here to play now.
3. Play Croco Casino
Play Croco has an awesome cashback bonus between 25%-40% back on busted deposits made without a bonus attached, as part of his CrocoReload cashback promotion. Cashback amount is based on your level. Just get in touch with their online casino customer support team to claim this offer.
4. Fair Go Casino
Fair Go Casino offers two cashback offers. 25% cashback instant on every busted deposit of a minimum of $10. 30% weekend cashback bonus on every busted deposit made without a bonus attached. Click here to play now.
5. Bitstarz Casino
The cashback promotion offered by Bitstarz Casino is only available to players who choose not to use any of the other welcome bonus packages. In order to qualify for this bonus and its rewards, players must play down their initial deposits on any game offered by the casino.
After this, all you have to do is contact their Support Specialists and they will gladly refund your account with 15% up to $20 Cashback Bonus. This bonus has a 40 times wagering requirement on any game you like, except Craps, Baccarat, and Roulette. Click here to play now
Note that cashback is presented to you in two main formats:
- Cashback is provided with real money. In this case, the player can use them for the game or immediately order the payment.
- The refund comes in the form of bonus credits. They can also be withdrawn, but first, you need to win back these funds. In this format it is necessary to study the requirements of the wager. Usually, they are not very hard. It is enough to scroll through the cashback several times, making bets on the desired amount.
However, you should find out which games you can win back cashback. Sometimes this cannot be done on blackjack, video poker, roulette, and other high RTP models. Other restrictions may apply.
Most often, it does not matter which games the client lost money. If the casino operates a cashback system, it, in any case, receives a refund on the agreed terms.
But sometimes there are promotions in which cashback is valid only on certain pokies. Usually, in this way, the online casino attracts players to certain games.
Also note that as with any casino promotion, responsible gambling practices should always be followed. Players should set limits, manage their bankroll, and play within their means, regardless of the presence of cashback bonuses or any other promotional offers.
Now pick your favorite cashback online casino and avail the offer.