What are cashback bonuses, and how do they work?
Before we discuss how to find the best cashback bonus casino, let’s define what cashback bonuses actually are.
A cashback bonus is a credit that you get back in form of game bonus money, and in some cases, even real cash money, into your account after losing money at an online casino. The amount is usually a percentage of your loss and is determined individually by casinos. Cashback bonus may not seem like a complicated subject in and of itself, but there are definitely some “gotchas” when it comes to fully understanding them, and we’ll make sure to cover all those points.
No matter how good of a run you’re having with your casino winnings, everyone loses eventually. You may get too carried away from the excitement and make too much of a high bet, you might have a bad day, or you might just bet on something wrong. Mistakes happen. However, some of the losses can really sting, and that’s where a cashback bonus casino can act as a “saving grace”, and alleviate the losses, even for just a bit.
Cashback bonuses are not as popular as the free spins and welcome bonuses, as these two are what attract the most beginners who’re looking for a new casino, but cashback bonuses are especially beloved by the experienced players who usually spend a lot of money gaming. For those players, a cashback return is a nice feature that helps them minimize losses. The reason is that usefulness of cashback bonuses increases in a directly proportional manner to the number of games you lose.
Let’s dive into it a bit more deeply by examining a real-life example of a real money cashback bonus:
Let’s assume that your casino offers a 5% cashback for any losses that you accumulate over the week. If you make a deposit of $100, and after playing for a while, lose $50, at the end of the week the casino will give you back a 5% of the $50 that you lost, meaning a $2,50 cashback.
There’s way more to discuss it when it comes to cashback bonuses, which we will do below, but this is a very simple, straight-to-the-point explanation
What are some approximate amounts to expect for a cashback bonus?
It definitely varies from casino-to-casino, but usual amounts that we’ve seen for casino cashback bonus Canada are in the range of 10% of the loss. As is the case with every service and promotions that casinos run, there are some specials available for VIP customers with higher cashback bonuses, but you’ll always need to check that with the casino itself, through contacting support.
Other Types of Cash Back Bonuses
While the list of cashback bonuses Canada is not that big, besides the “classic” cashback bonus that you get weekly from your casino in case of a losing week, there are other types of cashback bonuses available, which you can gain access to in specific scenarios. Let’s discuss some of them below:
While you can’t enjoy access to Casino cashback bonus in Canada without a negative or zero weekly earnings score, with the case of top-up bonuses, an exact opposite can be the case. With top-up bonuses, you can win and get a bonus from your winnings for a certain period or a certain game. These bonuses are usually much lower, though, in the ranges of 3-10%.
Total-bet cashback bonuses
Although very rare, with total-bet based cashback bonuses you can get a bonus with a fixed percentage of total bets you place in your game. You get a bonus whether you win or lose, and it gets higher and higher with the number of games played.
What do you need to keep in mind?
Cashback bonuses, as you can see, provide a nice way to “hedge” your casino bets, and can definitely provide at least small peace of mind for you when you’re having a run of bad luck. Since the very fact that you’re receiving this kind of bonus means that you’ve lost at least some of your money, it always makes sense to take advantage of these offers. However, there are definitely a few points that you need to remember in order to avoid confusion and possible frustration.
All cashback bonus casinos pay these bonuses out after casino software analyzes your weekly balance, and if and only if you have a week with net losses or zero, then it gives you the cashback bonus. If your weekly results are positive-meaning you earned more than you lost-casino won’t be providing the cashback bonus.
Time-specific cashback bonuses
It’s quite often, that a cashback bonus that a casino offers you is specifically for the recent loss that you experienced; these are often called “Ad-hoc” bonuses and have a time constraint. They may be available only for the next few days, usually up to a week. Why do casinos do this? The main reason is to ensure that players are not taking extended periods of breaks due to their loss and to encourage them to keep going. It’s common for players to switch to a new casino due to a loss, and a daily cashback bonus in Canada can help casinos retain customers. This way the players won’t be saving these bonuses for later use as well.
Wagering Requirements are the casino’s minimum required amount of playthrough that the player needs to commit before claiming benefits from a bonus. They’re very common with bonuses like free spins, first-time deposits, reload bonuses, etc.
Canadian cashback bonus casinos also do sometimes set wagering requirements, like with other types of bonuses, but these are usually much lower, in the ranges of 10x, as opposed to, for example, free-spin bonuses, which have 20x-40x requirements. As mentioned, no matter what the wagering requirement is for your cashback bonus, it will still always make sense to use them, so bet away!
Having covered most of the important bits, there are a couple of more useful tips that will come in handy.
Don’t rely too much on cashback bonuses
While cashback bonuses are a great way to minimize losses and are always welcome, you should never let them dictate too much of your gaming strategy. What we mean is not to assume that you’re “too safe” and get carried away. For most of the casinos, cashback bonus payout Canada will have a cap, which will usually range from $100 to $500, depending on the specific casino itself.
You have to remember, that odds are still always in Casino’s favor and very much so. You should always stick to your budgeting plan, and not deviate from it based on the fact that you’re expecting a cashback bonus. While always welcome, these bonuses are very small, compared to the amount that you’d be losing, so look at them as an additional benefit, a cherry on top, if you will.
Fully inform yourself of terms and conditions
One thing that we constantly notice and are confused by is how little attention people pay to actually researching terms and conditions of bonuses. As is the case with every product or service that you’re receiving, it’s important to be aware of its terms and conditions, and your cashback bonus online casino should in no way be an exception. Nobody enjoys reading terms and conditions-especially reading them fully-but as a player who’s risking their own hard-earned money and spending their time, it’s in your own best interest to be aware of as many details of terms and conditions as possible. Taking a few minutes to familiarize yourself with them will pay out majorly in the long run.
Online casino bonuses are always a hot subject, seeing as it’s not a cheap entertainment hobby, and players are always looking for ways to gain additional benefits while gambling. With the demand for these promotions being as high as it is, and with the buzz that surrounds it, there’s bound to be a lot of misinformation online. That’s why it’s always important to do your due diligence with research and informing yourself as much as possible.
As you can see, despite seeming to be easy and straightforward on the surface, there are definitely a lot of hidden quirks when it comes to real money cashback bonuses Canada. One this is for sure, though – whether you’re a new player just taking your first steps in the world of online gambling, or if you’re an experienced veteran, cashback bonuses are one of the best features that casinos actually have to offer for players in terms of benefit. If you gave this guide a full, careful read and will be making tangible steps to implement its advice, you’ll have no issues utilizing any casino cashback bonuses Canada to their fullest potential. Just remember to always stick to the main principles, which is playing with your brain, not your heart, always sticking to a budget, and most importantly, try to have fun!