The cash back bonus is a great category of promotional offer that is not that common at online casinos. As the name suggests, the bonus entails the casino returning money to a player. This cash will be a percentage of that player’s losses, so it is a great insurance against walking away from a gaming session empty handed.
Cash Back bonuses are an example of a no strings reward that online casinos offer their most loyal members. It not only makes losses more bearable, but it also helps keep your budget in check, as you have cash in your pocket to potentially make up for any losses accrued.
Lets take a look at the ins and outs of this type of casino bonus so that if you come across it, you can reap the maximum rewards:
1. How Does a Cash Back Bonus Work?
A cash back bonus will be calculated as a percentage of the player’s losses. If a casino runs a 10% cash back bonus and a player’s total losses amount to $20, he or she will receive $2 back, paid directly into their account.
There is generally a minimum and maximum cash back amount that the casino will award. There may also be other stipulations or requirements, so it is best to read the terms and conditions to make sure you are au fait with the rules.
Some casinos specify specific cash back amounts rather than percentages, because if an unlucky player has a big losing streak, it will cost the casino a lot of money.
2. What Makes Me Eligible for the Bonus?
The main criterion for being eligible for a cash back bonus is to be a member of the loyalty reward program of the casino. Very few casinos will immediately offer you a cash back option.
Usually players will need to have reached a certain number of loyalty reward points to make the cut for the cash back program.
Most casinos have a tiered rewards program and cash back programs will usually be offered from the 2nd tier and upwards. Some casino may also limit the cash back option to losses on specific games instead of all games.
3. How Long Does It Take To Claim the Bonus?
To claim your cash back bonus will usually take between 24 and 48 hours. The support staff will need to calculate your cash back amount first, based on their set criteria.
Once it has been processed the money will appear immediately in your account. Since the money is paid internally you won’t have to wait for any bank processing times or pay any hidden fees and you can try your luck and have fun all over again!