Online Casino Cashback Offers 2023
Many online casinos offer different types of cashback bonus offers. However, there is no industry standard for how these deals are offered, so different sites can offer different things. Here we break down everything you need to know about understanding the common types of cashback offers and how to get the most value from them.
Latest Cashback Offers
Introduction to Casino Cashback Bonuses
For the longest time, deposit bonuses were pretty much the gold standard for casino promotions. They were designed around an era where players were almost exclusively getting in on the action from desktop computers, and the idea was to tie players to their games for a certain amount of play within a certain amount of time with wagering requirements, time restrictions and so on in exchange for the bonus amount.
Cashback casino offers throw this dynamic on its head because it’s more suited for the on-the-go, mobile style of play that’s more popular than computer-based play at most of the top sites.
Mobile gets bigger each year and takes up more and more of the market, and the promotional side of the industry has had to try to catch up as well. Cashback offers, in their various forms, are an attempt to adjust to the times and give players more value without requiring them to tie themselves down as much as the previous generation of deals did.
Why There Are So Many Styles of Cashback Promotions
Back in the day, there were only a handful of casino operators and software companies. They started off competing with each other for players and largely copying what each other did in terms of promotions, so you ended up with a situation pretty quickly where everyone in the industry were using deposit bonuses based on the same principles. Everyone copied this style of promotion, wagering requirements and other policies included, which led to the situation now where virtually all casino bonuses from hundreds (if not thousands) of online casinos are basically the same format with slight variations in the details.
With cashback promotions, you’re dealing with a much more recent style of promotion that wasn’t so popular back when there were so few places to play. What this means is that they have been developed independently over time instead of being based on one core group of promotions that sort of started everything off, and that’s why there is so much variation in the different types of cashback offers that you can find.
What that means in the practical sense is that you can’t really take anything for granted with cashback offers in the casino industry. Just because things were done one way at one casino doesn’t mean that anything about it will be the same at another. As a result, you really have to treat each new promotional opportunity as its own separate entity as if they are actually different types of deals instead of all belonging to the “cashback” family.
Looking at the Different Varieties of Casino Cashback Rewards
In the following, we’re going to look at a few of the most popular ways that players can receive cashback rewards at online casinos. We’re going to give an overview of how these deals work and which circumstances will tend to work the best for different types of players.
Get Paid Upon Busting
The first type we’ll look at has been popular for a while, particularly from online casinos that have operated with the Realtime Gaming software for several years, but a number of other casinos that don’t use RTG’s games have picked up on it as well.
The basic idea here is that you make a deposit, and if you go broke within a certain frame of time, then you are given back a percentage of your deposit as a cashback reward.
So as a simple example, there could be a 30 percent cashback reward if you go broke on a deposit of €200 within seven days of depositing. By going broke, they usually mean you get under some chosen account balance, typically something like €1 or €5. If that happens, and you send off a cashback request to support within the promotional period, they would give you back 30 percent of your deposit to play with once again, which amounts to €60 in this example.
To help avoid abuse, this is generally given in the form of a free chip that has wagering requirements, game restrictions and things along those lines that players will be familiar with from other types of promotions.
Loyalty Point Rewards Programs
Another popular cashback setup is when you’re allowed to cash in your points from casino rewards programs and turn those into bonuses or cash. While the latter is preferable, the former is often a good value as well.
For example, you might be able to earn a loyalty point for each €1 that you wager on real money online slots. From there, every 100 points could be exchanged for €1 with a small wagering requirement. You could cash in with any balance of at least 1,000 points in this example, and it amounts to 1 percent cashback on the amount that you wagered.
This is different than the above because it’s based on the wager amounts and not the amount won or lost.
Something really cool about cashback deals like this is that they’re great for players who want to stay in one place for a long period of time since you usually get higher rates of earning points and/or higher rates of exchanging those points into cash and bonuses the longer you stay.
Loss Rebate Promotions
The third and final form of cashback offers that we’re going to look at include loss rebate promotions.
The basic idea behind how these work is that your total losses over a percent of time are subjected to a certain percentage, and you’ll get a percentage of those funds back as a result. Again, terms like game restrictions and wagering requirements may or may not be a part of the conditions to take advantage of an offer like this, but in any case, it’s very generous.
The downside is that you can’t really get any extra value if you win money or just break even during the promotional period, which differentiates it from the loyalty points type listed up above. With that said, this is a really good offer for certain types of players, and people who make small deposits that they try to go big or go bust with will probably benefit the most.
No matter which of these three types you use, or if you use a more rare type that isn’t discussed here, the bottom line is that you’ll be getting value in some way, shape or form. If you’re a slots fan, you may have more opportunities to take advantage of these deals because of the terms and conditions, but table games players will have plenty to choose from in the industry as a whole as well.