Put bluntly, cashback is about losing. It’s a realistic approach to gambling – you can’t expect to win on every single bet, and cashback gets you back some of the money you’ve lost. By getting some of your losses covered, cashback will help you ride through the lull until you hit a peak again. This is one of the strategies professional gamblers use to maximise their wins by minimising their losses.
Why Are These the Best Cashback Bonuses
These are the best cashback bonuses because you’ll get more value faster. When we review bonuses, we look at the offer in detail and calculate how much it can really be worth. Other than the initial sum at stake, we also take a rounded view of the casino, and the conditions the promotion comes with – which can sometimes limit the value of the bonus. We chose these cashback promos as the best because you’ll get your money sooner, and because they come from fabulous casinos in which to play.
How to Claim a Cashback Bonus ?
Cashback is not a standard bonus offer and you won’t find them at all online casinos. Cashback is a rebate based on your losses; you get money back based on a percentage of your actual losses made with real money. This means that you need to make a deposit and wager all of it – you can’t get a rebate without spending any money! To claim a cashback deal, make sure you make a deposit and play within the promotion’s specified timeframe. You may or may not need to enter a promo code when you make the deposit, so check with each promotion. Cashback is based on a net loss within a specific period, for example: You win £200, but on your last bet of the day, you lose £190. This means you are still on a net profit of £10 with this deposit and therefore do not qualify for a cashback.
Cashback Bonuses: Important Things You Should Understand
As cashback doesn’t work like the standard bonus, and there are different things you need to know. Make sure you understand these key concepts before you jump in.
- Qualification: Time Frame
Different online casinos can have different qualification criteria for cashback promos, but Most commonly, cashback is time limited and you must wager within a specified time period – sometimes you must also deposit and wager in the same time.
- Qualification: Minimum Wager
You may have to wager a minimum amount before you qualify for cashback. At some online casinos, you may need to qualify for a certain number of days within a specified period in order to claim the cashback bonus.
- Percentage of Net Loss
Cashback promos are often in the form of a percentage of your net loss. By net loss, it means all your winnings minus all your losses within the specified time period – if the result is negative, then you have a loss and qualify for cashback. If the result is above zero, it means you didn’t lose and don’t need to use this loss offer!
- Playthrough Requirements
The money you get from cashback can be in the form of cash, which you can withdraw immediately, but more commonly it will be in the form of bonus money. When dealing with bonus money, you should know that there are usually playthrough requirements, also called wagering requirements. If a requirement is 5x bonus, then you will have to wager the bonus 5x before you can withdraw winnings earned on that bonus
- Time Limitations
Finally, the rebate you receive through the cashback promo might only be valid for a specific period. The validity is sometimes shorter than standard promos – we’ve seen some cashback rebates that are only good for 1 week – so play it when you get it!