Cash back bonuses
Cash Back Casino Bonuses
When we hear the term cash back, we usually associate it with banks and other types of financial institutions, but now, it is no longer surprising to relate them with an online casino bonus, especially since this has become one of the ways to attract players into signing up with them.
But what is a cash back casino bonus, and moreover, what are its advantages and disadvantages?
What is a Cash Back Casino Bonus?
It cannot be helped that an online player is going to lose some money when he plays at online casinos. Now, the cash back casino bonus is one method of online casinos to attract players to register with them. With this type of bonus, the online casino will give back to the player a portion of his losses, and this is bonus is often in the form of cash. But since this will be money that comes out of the pockets of the online casinos, this is a rare type of bonus, so not all online casinos offer the cash back casino bonus.
The percentage of the cash back bonus though depends upon the online casino, with some offering 5% and others as much as 15%.
Advantages of a Cash Back Casino Bonus
There are a lot of advantages that a player could get from the cash back casino bonus. One, they get to receive a percentage of their losses back, and this means that the player did not totally lose all the money he lost on the bets he placed. Two, the player also has the advantage of receiving money on a specified date, depending upon the terms and conditions of the online casino – some give daily, weekly, monthly, or even yearly cash back casino bonuses. Three, the cash back casino bonus makes the losing player happy.
Disadvantages of a Cash Back Casino Bonus
There are some disadvantages to this type of casino bonus though.
When the player wins, of course he does not receive any money from the online casino, especially since the cash back casino bonus is only applicable to a player’s losses. In a nutshell, the more the player losses, the more cash back he receives, so if you think about it, you are always going to lose more than what you are going to receive.
Likewise, the cash back casino bonus stops once the player stops playing.
Lastly, there are online casinos that impose policies on their cash back casino bonus, so you have to really read and understand the terms and conditions of their cash back bonus before you can withdraw them. However, there are some online casinos that do not place any terms and conditions on their cash back bonus, and it is what it is – a percentage of your losses back without strings attached.
The Common Terms and Conditions of the Cash Back Casino Bonus
The best online casino to choose though is one that offers clean and straight cash back casino bonus with no strings attached, but this is hard to come by especially since online casinos are somewhat tightfisted when it comes to giving away free cash.
For the purpose of education though, here are the common terms and conditions of the cash back casino bonus:
1. Number of deposits. There are online casinos that require you to make a number of deposits before you are given the cash back casino bonus. For example, Casino A asks that you deposit X number of times or more before you can receive a cash back casino bonus of X%.
2. X times wagering requirements. The number of times that you have to bet your cash back casino bonus credit depends upon the online casino. Let us say for example that Casino A requires you to wager 10x your cash back casino bonus credit before you can withdraw the percentage of your losses back, which, however way you look at it, will still demand that you bet more money.
3. Specific day and time. This is also one way for the online casinos to control the amount that they have to shell out for their players’ cash back casino bonuses. They only indicate a specific day or time wherein their players can take advantage of the cash back casino bonus. For example, Casino A only offers cash back bonuses on Fridays from 1 p.m. to 5 p.m., so any losses incurred on other days of the week do not count towards availing of the bonus.
4. Specific games. As if all these are not enough to make it hard for the players to receive their cash back bonuses, but online casinos will still impose more restrictions when it comes to the games. Again, let us go back to Casino A. Casino A will say that certain games on their site are not included in the bonus, and you can only play on certain games if you want the cash back bonus.
5. Loyalty and VIP program. As stated above, there are online casinos that only offer cash back casino bonuses to their high rollers, so to avail of this, you have to climb higher up on their VIP and loyalty program and make sure, too, that you get into the upper tiers of the club. And if you want a bigger cash back bonus, make sure that you climb to the top because the higher you are, the bigger the bonus gets.
However, not all online casinos are this strict when it comes to cash back casino bonus, so you really have to choose wisely and not expect too much.