Online casinos often offer rebates to their players to encourage them to continue gambling there or to reward them for their loyalty. These rebates are known by a number of terms, the most common being cash backs and bonuses.
How Does it Work?
Players become eligible for cash backs when they perform certain tasks or fulfill certain requirements. The most common form of cash back, commonly referred to as bonus, is against a deposit made by the player at the online casino. Some casinos automatically credit the bonus to the player’s account, whereas other casinos require that the player claim the bonus by redeeming a given code. Usually bonuses against deposits cannot be cashed. After the player has wagered the deposit and bonus a specified number of times, he can cash only the original deposit and his winnings.
Cash backs are also offered against specific amounts wagered at the online casino and against losses incurred by the player. Usually, but not necessarily, these cash backs can be withdrawn by the player without having to meet any wagering requirements.
Types of Online Casino Cash Back Offers
The welcome bonus is offered on the first deposit made by a new player to encourage him to join the online casino. A commonly offered welcome bonus is 100% of the first deposit subject to a maximum of $200. This means that if the new player makes a deposit of up to $200 the online casino will offer a matching amount as bonus. However if the new player makes a deposit of more than $200, the online casino will restrict the bonus to $200. Online casinos are known to offer welcome bonuses that are even 400% of the first deposit. Some online casinos offer the welcome bonus on a number of initial deposits, the amount of which can be in the region of $10,000.
Reload bonuses are cash back offers on deposits made by a player after he has availed of the welcome bonus. These are also structured as a percentage of the deposit made, but the percentage amounts are usually much lower. The formats vary from casino to casino. Some online casinos offer cash back on total deposits made during the specified period subject to a maximum limit. A typical offer would be 10% of the deposits made per month subject to a maximum of $200. If the player makes it deposit of $50, he will get cash back of $5. Once the total cash back for the month reaches $200, the player will stop getting any more cash back. Some online casinos specify particular days of the week on which the reload bonus may be availed and have percentages and limits for each transaction. A typical offer would be 20% of the deposit made on Tuesdays subject to a maximum of $50.
Cash Back On Losses
Online casinos realise that players do not feel happy when they lose. They offer some comfort by returning a part of the losses as cash back. A typical offer would be 20% of the losses made during the week subject to a maximum of $100. If the player ends up to winning that week, then he will not be entitled to any cash back. However, if he has lost $400 then he will get cash back of $80. If he loses $600, then he will not get back 20% of $600, which is $120. He will get back only the maximum limit of $100. Sometimes online casinos specify that a player has to lose a minimum amount in order to avail cash back on losses.
Cash Back On Total Bets
This is one of the more exciting cash back offers. Here it does not matter whether the player wins or loses. He will get cash back on the total amount that he has wagered in the specified period. VideoSlots.com is one of the online casinos with an offer of this kind. It states, “Regardless if you win or lose you will receive 25% cashback on all your bets in our game categories Video Slots and Slots. The more you BET, the more you GET!”
How often are cashbacks paid out?
Cash backs associated with individual deposits are usually paid out as soon as the deposit is made. Cash back on amounts wagered and on losses are specified over a period. The most common period is a week. At VideoSlots.com the cashback is paid every Friday with one week delay. Some online casinos specify the month as the period to calculate the net loss or amount wagered.
Cash backs are benefits offered to you by online casinos. However, you are not compelled to avail of all cash back offers. If the online casino automatically credits the cash back, you may be required to inform the customer support if you are not interested in the offer.
You should very carefully read the terms and conditions attached to the cash back offers, particularly the wagering requirements. In case any condition is not clear, you should contact the customer support and understand it before you avail of the offer.