Best Online Casinos Cashback Bonus December 2023
What Are Cashback Bonuses?
Cashback bonuses are some of the main attractions of top online casinos. Offered daily, weekly, or monthly, these bonuses are used by casinos to reward regular players. However, the popularity of cashback bonuses is so high right now that a lot of new online casinos started to offer them instead of the standard welcome bonus to usher in newcomers.
Considered a sign of goodwill from the casino or a reward for a player’s loyalty, cashback bonuses enable players to automatically recoup a certain percentage of their net losses. The amount usually varies between 5% and 30%, depending on the casino. When betting and accumulating a valid loss online, the casino instantly activates the bonus. Usually, a minimum loss or deposit is required so players can be eligible for the bonus. Cashback bonuses are either real cash or bonus money and often do not have wagering requirements.
Reasons Behind Cashback Bonuses – Safe Bets in the Long Run
Welcome bonuses and no-deposit bonuses usually initiate newcomers’ gaming experiences at new online casinos, sending them on a risk-free journey with free spins and free cash. On the other hand, cashback bonuses are more of a “safe bet”. They help players in the long run as opposed to welcome bonuses that are quickly exhausted after the first (few) deposits. Cashback bonuses are excellent ways for players to get some of their money back when bad luck strikes their screen. They are the gift that keeps on giving, stimulating players to come back to a casino after a loss without feeling like their entire bankroll has vanished.
How Do Cashback Bonuses Work?
Generally speaking, a cashback bonus offers players a certain percentage of their lost bets. The bonus is limited or capped to a maximum amount chosen by the casino. A 20% cashback bonus of up to $100 triggers a maximum bonus of $100 no matter how much a player wagers and loses.
Types of Cashback Bonuses
There are several types of cashback bonuses you can currently find online:
- Cashback bonuses that consider players’ gross wagers. this is not a common cashback. They are given the gross amounts that a player has wagered on eligible games or within certain time frames, usually over the weekend, during an entire week, on certain weekdays, or throughout the month.
- Monthly cashback bonuses. As the name implies, these bonuses are given to players once every month. They are ideal for casual players and low rollers who are just looking for a fun time at the casino.
- Weekly cashback bonuses. These bonuses are activated once every week. This is the usual kind of cashback bonus that can be found at most online casinos nowadays. Players have an entire week to rack up their deposit amount and receive a certain percentage back at the end of seven days.
- Daily cashback bonuses. These bonuses are only activated if a player has generated losses on the previous day. Daily cashback bonuses are not very popular among casinos. High rollers and regular players are the ones that benefit the most from this particular type of bonus. The more you play and the higher your bets are, the more money you earn back at the end of the day.
- VIP cashback bonus. Some casinos run VIP or loyalty programs with exclusive bonuses for high rollers or loyal members. A few of these programs display exclusive cashback bonuses as percentages of players’ net losses on a daily, weekly, or monthly basis.
Loss Cashback Bonus
These bonuses are more frequently found online. They bring players a percentage of their losses. this cashback is based on the amount you have deposited. Depending on the casino offering them, these bonuses may be capped with a maximum amount. Cashback is an excellent means of getting back some of your losses while leaving behind the memory of a few bad gaming sessions.
Wagering Cashback Bonus
this cashback is calculated on the amount you have wagered during your play, and a percentage will be given on this. This is not a popular type of cashback.
How to Redeem and Use a Cashback Bonus?
Cashback bonuses are one of the easiest bonuses to claim in any online casino. To benefit from a cashback bonus, players must sign up for it or redeem it using dedicated bonus links or bonus codes. However, most casinos will only require you to deposit real money to activate them. You can find many of our cashback bonus codes in our bonus section.
Cashback bonus codes must be typed in when making a new deposit or communicated to the casino’s customer support team via live chat, as expressed in the bonus terms and conditions. Cashback bonus codes and links are found on a casino’s promotions page, but they can also be part of exclusive offers and promotional offers sent to players. The CBN team constantly displays exclusive cashback bonus offers tailored for CBN players, so make sure to keep a close eye on this page for the best deals.
Certain cashback bonuses apply to all casino games. In these cases, every bet that you make (and lose) with a casino contributes to the cashback bonus. However, some bonuses only apply to a single game or a single game category such as slots. This means you will only get a cashback bonus for every loss generated in one of those games or categories.
Who Can Use a Cashback Bonus?
While considered more attractive by high rollers, cashback bonuses can also be enjoyed by low rollers or casual players alike. In general, cashback bonuses are part of a VIP or loyalty program, but they are also displayed as standalone bonuses. Even more, newly launched casinos have started to replace regular welcome bonus packages with daily cashback bonuses to attract new players and keep them interested in the long run.
Like with any other type of casino bonus, it is essential to always check the bonus terms and conditions of any cashback bonus. This way, a player can learn what are the eligible games for the bonus and decide if the bonus is suitable for their slot-oriented gaming style or for their plans to engage in live dealer, table games, or sports betting.
Do Payment Methods Affect Cashback Bonuses?
Payment methods do not usually affect the way a cashback bonus works. You can play using an e-wallet like Neteller or Skrill and still get the bonus. The same applies to credit or debit cards and bank transfers. You can even get a cashback bonus using cryptocurrencies as long as the casino accepts crypto payments. Even more, many casinos started offering exclusive Bitcoin or cryptocurrency cashback bonuses.
Regardless of your payment method, cashback bonuses will be immediately credited to your player account once the time specified by the bonus is completed. Of course, if wagering requirements apply to the cashback bonus, you will not have the chance to request a withdrawal unless you complete the wagering requirements first.
Advantages & Disadvantages of Cashback Bonuses
Cashback bonuses help players avoid suffering important losses while expanding their gaming sessions. However, they also come with a few drawbacks. Here is a quick rundown of the main pros and cons of these bonuses:
- Some casinos offer them daily, weekly, or monthly
- They help players limit their losses and recoup some of their bankrolls
- They let players spend more time at the casino
- They have zero wagering or very low rollover requirements
- They can be cashed out fast and easy
- They are simple, straightforward, and easy to understand
- They reward players’ loyalty
- Most of them are active forever
- Players must lose their funds to redeem them
- Only a certain percentage of a player’s loss is refunded
- There is a minimum amount that players must lose or wager to get the bonus
- They cannot be used simultaneously with pending withdrawals and losses from other casino bonuses
- To be credited cashback you need a minimum amount in your account.
- Limited withdrawal amount the amount you can withdraw can be capped at 10x your cashback amount.
- Cashback bonuses usually have a maximum cap, which is the most a player will receive as part of the bonus.
Cashback Bonus Expiration Date
While some casinos run nonstop bonuses daily weekly and monthly. For instants, if the casino credit the daily cashback the next day at 10 am and you have a balance in your account larger than $5 you will not be credited the cashback the same goes for weekly and monthly. Always make sure you do not have funds in your casino account exceeding $10 if you would like the cashback credited. It is important to carefully read the terms and conditions as the amount of real money you can have in your account varies from casino to casino.
Best Casinos with Cashback Bonuses
The Casino Bonuses Now team has gone through an extensive list of reputable online casinos to recommend some of the most trustworthy casinos that offer cashback bonuses. The casinos that you will find have different perks, but they are all excellent places to spend your time.
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