What are casino cashback bonuses?
Playing at casinos online involves both winning and losing. Cashback bonuses are here to make sure that gamers don’t suffer total loss on futile bets. A cashback bonus, therefore, is a portion of the money (real or bonus money) that punters are paid back on losing bets.
Playing at a cashback bonus site is playing at a reduced risk. There is nothing to lose taking part in these promotions. Technically you’ve already wagered, and all you seek is a percentage refund on the amount lost.
There are monetary requirements except for special cashback offers to target a special group of players like the VIP, in which case players have to meet certain conditions for being signed up into the VIP club.
Reading through the terms and conditions section is recommended before you proceed to claim any cashback offer. Things such as eligibility, the kind of games contributing towards a bonus, and the capping of your offer are all outlined under the T & C’s section.
Payouts and cashback at casinos
How much is your cashback money?
How much you receive as a refund depends on the percentage offered by the casino. Percentage refunds are usually somewhere between 5% and 25% of a given stretch of losses.
These losses could be calculated on weekly, daily, monthly, or as otherwise provided by the casino.
Whether you’re eligible for a cashback bonus and the size of the cashback amount is illustrated in the three scenarios below:
- You’re playing at a casino that offers 5% cashback, and you play through $100 on a designated game. $100 would be your net loss if you won nothing at the casino. You will receive 5% of the $100 wagered, so your account will read plus a $5 cashback bonus.
- You play at a casino that offers a 5% cash back bonus on the total loss at the end of the day. You wager at $200, and your day ends with $400 in your account. This means you’ve made a profit, so you don’t receive a dime in this cashback offer.
- You take up a 25% cashback offer to a maximum of $50, and you lose $300 on your bets. The max refund you’ll receive will peak at $50 because your losses have crossed a refund threshold.
Advantages of cashback casino bonuses
Why you should play at a casino with cashback offers has everything to do with the benefits you reap by claiming your bonus at online casinos in NZ.
Here is why cashback bonuses come in handy at casinos online;
- You get free real or bonus money with no strings attached
- You play at a reduced risk. Cashbacks are a hedging strategy against total loss
- You slice off a piece of the casino’s house edge and sway the advantage your way
Cashback, free spins, and deposit bonuses explained
To start with, these are all bonus types. The difference, however, is the context in which these bonuses are offered. A cash bonus is a refund on betting losses over a specified period.
Deposit bonuses, on the other hand, are bonus offers specified as a match on a given deposit sum, while free spins bonus is a spin-at-no-cost session provided by casinos on a given slot.
In terms of wagering requirements, cashback bonuses come with a skinny layer of requirements, while deposit bonuses carry a lot more of those. Free spins are non-money bonus offers where punters stand a chance to make real money at a zero cost per spin.
Wagering requirements on cashback bonuses vary from one casino to another. Sometimes these requirements get as low as wagering the bonus credited only. However, other casinos may raise them to even 10 times, although the turnover requirements come much lower than those on deposit bonuses.
Frequently asked question
A cashback bonus is a refund that players receive on the betting losses incurred within a given time frame. The amount received is expressed as a percentage of the total losses up to a certain limit.
Regular cashback offers do not carry burdensome requirements. Some are generally available once you’re signed in at the casino, while some may require you to put in an application to be considered. Special cashback offers that target a particular group of players, such as the VIP, have a set of requirements provided at the discretion of casino operators. Relevant provisions are often well laid out at the casino’s promo page.
Most NZ casinos run cashback programs via promo codes. These codes are available at official casino sites, so you can grab some once you sign up.