Casino Cashback Bonuses

Dean McHugh
26 October 2023
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If you’re an avid gambler or someone who occasionally enjoys the thrill of casino games, you’ve probably heard of casino cashback bonuses. These type of casino promotions have been gaining popularity in the world of online gambling, promising players a unique opportunity to recoup some of their losses.

In this piece, we explore everything you need to know about these promotional offers, what they mean, how to secure one, what to look out for before claiming, the best places to claim yours, and other insightful information about cashback bonuses.

Understanding Cashback Casino Bonuses

Simply put, a cashback bonus is a percentage of your losses or deposit, returned when you lose a bet within a stipulated time. The money is deposited back into your casino account, and the offer is usually in the form of bonus money.

Sometimes, you need to meet specific requirements to redeem it. Depending on the casino in question, the bonus can have wagering requirements or not. Most online sites offer between 5% and 30%, but a few sites promise higher percentages.

Examples of Online Casinos to Get Cashback Bonuses

  • Quinnbet: This online casino has a cashback as a part of their Welcome Bonus! Just make a minimum deposit of €/£10 and start playing at QuinnCasino. If, by the end of your first day’s play (by 23:59), your account shows losses, they’ve got you covered. They’ll give you a 50% refund on your losses in the form of a 1x Rollover Casino Bonus, up to £25. On top of that, you’ll receive 10 Free Spins to enjoy on ‘Reel Diamonds’.
  • Grosvenor: Black card players can enjoy a 10% cashback bonus on net losses every week. To qualify, stake at least £50 between Thursday 01:00 and Wednesday 00:59. This ongoing offer covers all games, providing a consistent cashback boost for active players.
  • Magic Red: Its loyalty monthly cashback offer provides insurance for Platinum, Premium, and Prestige members. Players receive cashback on losses, delivered on the 3rd Monday of the following month. This promotion offers a valuable safety net for high-level loyalty players throughout the year.

How Does Casino Cashback Bonus Work?

The principle surrounding the casino cashback bonus is simple —the casino returns a portion of the amount you bet back into your casino account every time you lose. For example, if you get a 3% cashback and lose a £100 bet, the casino returns £3 as the amount. The cashback would be £25 if it were a 25% bonus. That’s the basic model every site uses, but how you use the cashback can vary from one gambling site to another.

While some casinos are happy with you withdrawing your cashback immediately or placing bets however you like, others are much stricter. You need to meet wagering requirements, terms and conditions and also adhere to withdrawal restrictions if you wish to redeem the bonus. There might also be a maximum amount of cashback you can get, which means if your loss exceeds the maximum amount, you will be given, at most, the stipulated percentage. For instance, if you get 15% cashback with £100 as the maximum cap, you can only get up to £100 even if you lose £5,000.

Some eligibility requirements might apply to each unique offer you come across online. For example, some casinos only offer it to players above specific age ranges and some only use it to reward their existing or loyal players. Hence, check the eligibility requirements of your favourite casino before signing up or claiming the offer.

Terms and Conditions of Casino Cashback Bonuses

Cashback bonuses are no different from many other types of bonuses in casinos’ promotional sections. They also come with complex terms and conditions, which is the most important factor to consider before claiming any offer, including cashbacks. The T&Cs usually contain all the necessary information, such as the bonus amount, maximum cap, cashback percentage, validity of offer, wagering requirements, etc. Although quite boring to read, it’s worth the boredom and certainly going to save you a lot of trouble.

Common T&Cs of Casino Cashback Bonuses

As we discussed above, there are loads of important features that come with bonuses, which we recommend keeping an eye on. Below are some of them:

  • Game Restrictions: This limits the range of games for which you can use your bonus. Cashbacks often come with a list of applicable or excluded games. It usually covers all available slots, sparing some tables and card games.
  • Minimum Payout: There is a limit to the amount of money you can withdraw after you win. Although limits aren’t crazy high, they can determine how long you must play before getting a payout.
  • Minimum Deposit: You might be required to deposit over a certain amount to claim a cashback bonus.
  • Validity Period: The casino can also regulate how long the offer lasts. Depending on the site in question, it can be a one-off, 24-hour, weekly, monthly, quarterly or progressive offer.
  • Maximum Cashback: There’s also a cap on the maximum amount you can get. This limits the amount you can win back regardless of how much you wager and lose on your games.

Wagering Requirements on Cashback Bonuses

This is the number of spins, bets or wagers you need to place with your reward before you can withdraw it or its winnings. All your attempts to withdraw your cashback will be futile until you meet the wagering requirement as directed by the casino.

Generally, UK casinos tend to apply the wagering requirements on the cashback itself, not the bonus amount. For instance, when players get a 10% cashback reward on their £100 loss on any particular day, they will receive £10 cashback from the site. Assuming there is a 20x wagering requirement on this offer, they need to wager £200 (20 X £10) before they can withdraw the winnings they earn from their cashback bets.

Please note that the figure differs for different casinos, so we recommend reviewing the details of your choice of gambling site. Also, different games usually have various contributions to wagering requirements (you might have to bet more on game A to meet the requirements than you would on game B), so check game contributions to avoid running into trouble.

How to Do Cashback Amount Calculation

To arrive at the exact figure you should receive when you claim a cashback offer, you generally need your net loss and the cashback percentage. You can compute the figure yourself by following the three easy steps below:

  1. Check the Cashback Percentage: The first step is to check the percentage of cashback the casino offers. For example, 15% Cashback on up to £400 For New Players. The offer here is 15%.
  2. Find your Net Loss: Calculate the total loss you’ve incurred while playing eligible games. For example, losing £50, £100, and £250 on three different games amounts to a £400 net loss.
  3. Calculate the Cashback Amount: Apply the net loss percentage to get your expected amount. Since your net bet is £400, 15% of this would be £60, which is the amount you should expect from the casino.

Types of Casino Cashback Bonuses

Getting a cashback bonus in a casino involves receiving your already deposited money. However, since no online casino offers 100% cashback, you always have to receive a percentage of it, and bonuses vary based on structure, T&Cs, and many other parameters. Hence, we’ve compiled the major types of cashback bonuses you can receive below:

  • Welcome Bonus Offer: This hybrid form of offer allows you to get stacked value as a new player. It will enable players to receive cash returns or bonuses on every non-winning bet they place.
  • On All Loss: When you get this type of offer, you get back a percentage of all your losses throughout the stipulated time. It doesn’t apply to specific casino games, but it’s a rare cashback only available on a few sites.
  • Loyalty Promotion: Loyalty offers function as an alternative to welcome bonuses but for existing players. Cashback rewards under this category are purely incentives to keep players returning to the site. They usually start at 4% and can go as high as 30%. Claiming this offer often requires players to hit a fixed milestone based on deposits, loyalty levels, or growth of progressive cashback amounts.
  • Recurring Cashback: Unlike loyalty-based offers, these are regular bonuses provided regularly. It can be weekly or monthly. The percentage may vary depending on how active you are on the site and how high you are on its VIP program.
  • Shorter-term Promotion: Like the recurring ones, these are only available over a specific period. They are usually hosted as part of an event or program. For example, it could be part of a Christmas celebration or a casino’s anniversary, and the offer ends when the event is concluded.
  • Deposit Match + Cashback Bonus: This unique type of reward combines deposit match with cashback. It allows you to receive returns on your loss and a matching bonus on your deposit funds.

Advantages and Disadvantages of Cashback Bonuses in Online Casinos

As golden an opportunity as these promotional features sound, they also have good and bad worth discussing. Hence, check out its greens and reds for optimum comparison before you claim that offer:

Pros

  • They provide a safety net by partially refunding losses, reducing overall risk.
  • Some casinos offer cashback as part of their loyalty program, rewarding dedicated players.
  • The bonus adds extra funds to your bankroll, extending your gameplay time and boosting your winning chance.
  • Online casinos might offer different cashback promotions, adding diversity to bonus options.

Cons

  • They often come with wagering requirements that must be met before withdrawal.
  • You must incur losses to receive it, which may appeal to only some players.
  • Cashback may apply to specific games, restricting your choices.
  • They often have time limits for use, requiring prompt action.

How to Get the Best Cashback Bonuses in Online Casinos

Cashback bonuses come in different shapes and sizes, but finding the best requires you to put in some extra work. To aid you in doing this, we’ve compiled some actionable tips to help you find the best bonuses out there:

Explore Cashback Percentages

The goal here is simple —explore multiple options to arrive at the highest promotion. Aim for something between 10% to 30%, the common range of reputable casinos. The higher the percentage figure, the better the reward would be for you. However, pay attention to details; a high percentage doesn’t always mean a better offer.

Verify Reward Details

If the percentage meets your preference, it’s time to shift your focus to every other detail. Look for limits, requirements, eligibility, and rules on what can lead to forfeiture of your bonus.

Check Promotion Duration

Claiming a one-time bonus might prove less effective than long-term ones. Always check the duration of the promotion to know how long you’d enjoy it before it becomes invalid. Some casinos are cyclic, meaning if you claim a monthly cashback, you might have to wait for the period to elapse before getting any refund.

Pay attention to Wagering Requirements

Another important ritual for finding the best promotions is to check how many times you need to wager to redeem your prize. We recommend going for casinos with the lowest wagering requirements.

How to Claim a Cashback Bonus

Choose a trusted UK online casino that offers cashback rewards. Ensure it’s licensed and regulated by the UK Gambling Commission.

  1. Sign up if you’re a new player, or log in if you’re an existing member.
  2. Navigate to the promotions or bonuses section to find available cashback offers. Click the “Opt-In” button if prompted.
  3. Ensure your casino account has sufficient funds to meet the promotion’s requirements.
  4. Start playing eligible games within the promotion’s timeframe. Your losses during this period will be considered for cashback.
  5. Once the promotion period ends, your cashback will be credited to your account. Some casinos credit it automatically, while others require you to claim it.
  6. Depending on the casino’s terms, you can then use your cashback bonus to play more games or withdraw it.

Are Cashback Casinos Legal?

Certainly, it is a legal bonus offer supported and regulated by several regulatory bodies worldwide, like the United Kingdom Gambling Commission (UKGC). However, this only applies to licensed and reputable online casinos, so always check if your casino fits those two criteria before signing up. Alternatively, you can sign up for any reviewed and verified online casinos on our website.

Summary

Cashback bonuses form integral parts of online casinos, allowing them to specially reward new and existing players by cushioning the effect of bet losses. They come in different sizes and conditions, so we advise our readers to pay close attention to every detail of offers before claiming them. We also recommended some of the best gambling sites to get juicy cashback rewards, which you can explore at the beginning of this article.

FAQs

  1. Why Are Cashback Casinos So Popular?

    Cashback casinos are popular because they offer a more thrilling bonus offer that also provides an extra chance to win.

  2. Can I Win Real Money With Cashback?

    Yes, you can win real money with cashback bonuses. The refunded cashback is typically real money and can be withdrawn or used for further gaming.

  3. Is Cashback Bonus Free Money?

    Cashback bonuses are not entirely free money. They are partial refunds on losses, so you need to incur losses to receive cashback.

  4. What’s The Difference Between A Welcome Bonus And A Cashback Bonus?

    A welcome bonus is a one-time reward for new players, often tied to a deposit. On the other hand, a cashback bonus refunds a portion of losses over a specific period, available to both new and existing players.

  5. Can I Play Any Casino Game With A Cashback Bonus?

    Not always. Cashback bonuses often apply to specific games or categories. Check the casino’s terms to see which games are eligible for cashback.

Author Dean McHugh

I am a full-time Sports Betting & Casino Content Writer based in the UK. I have years of knowledge, covering a broad range of different sports. If I don’t know about it, it's not worth knowing! My favourite sports are Football, Tennis, Golf, Snooker, Cricket, Boxing and MMA. As you can tell...I love sports! I have a passion for the Casino and iGaming industry, I have worked in and around it for the best part of 20 years.