Cashback casino bonuses are one of the most powerful offers available online. Check the operators that provide the highest cashback bonuses.
Match deposit offers and free spins are two of the most well-known online casino bonuses, but experienced players often ignore those in favour of cashback offers. On the surface, this doesn’t make sense. After all, a player is turning down a freebie, while accepting a bonus pays out only on your losses.
However, there is a method to this madness, and we will explain exactly what it is. This isn’t to say that match bonuses and free spins should be overlooked.
All types of casino promotions have value if the terms and conditions are favourable (here's how to choose online casino bonuses and promotions). Also, the casino cashback bonus may not fit in with the games you play and the stakes you play for.
How do casino cashback bonuses work?
Cashback offers have been a staple of the retail sector for many years. For instance, you could buy an iPhone and get €100 cashback, or there might be a cashback offer on a new car. To some degree, they are comparable to rewards schemes. You make a purchase, and cash is given back to you once you have accumulated enough points.
An online casino cashback bonus is where the casino gives the player back a certain percentage of their losses as real money. This could be based over a specified period or on losses incurred from a specific deposit.
For example, the casino is offering 10% cashback of aggregated losses when you play live roulette at the weekend. You hit the tables with €100 in your account, and you finish your session with €20. This means your total loss is €80. So, you receive 10% cashback from the casino on that amount, which is €8.
Why are cashback bonuses worth claiming?
It may seem counterintuitive to make a beeline for a cashback casino bonus because you are playing to win not lose.
But, the reality is that all casino games favour the house, so you will lose more times than you win. With that honest mindset, the idea of a cashback offer becomes more appealing.
You could think of it as a safety net. If you have a good day, you don’t need it. However, if lady luck isn’t shining on you, then knowing that you’ll get a rebate on your losses is a silver lining.
When you apply basic mathematics, it’s clear to see the advantage of claiming online casino cashback bonuses:
- 10% cashback on European roulette
- The RTP (Return to Player) of this game is 97.30%
- That means on average (over an infinite number of games), the player will win €97.30 for every €100 bet. This equals a loss of 2.70% (aka - the house edge)
Let’s run through a simplified scenario as to how cashback bonuses can be profitable:
- You play with €100 and lose it all (total loss = 100%)
- You play again with €100, and you win €94.60 extra (total balance €194.60)
- From the total €200 gambled, you have €194.60 remaining (total loss is 2.70%)
- Now, the calculation with the 10% cashback
- Bet €100 and lose. Instead of the total loss being 100%, it is only 90%. You get €10 returned to your account
- Bet €100 and win €94.60 extra (total €194.60)
- The total gambled on this occasion was only €190 due to the rebate, so your balance is in profit by €4.60.
Are there wagering requirements on the cashback?
A pure cashback bonus will not have any wagering requirements. The cash is refunded directly to your real money account. However, we have noticed a few casinos had added a 1x, 2x or 5x wagering requirement. Understandably, this takes the shine off of the offer, so you need to check the terms before claiming. Ideally, you want no wagering, but the lower the requirement, the better is the rule to use.
Fuedermore, when a deal looks too good to be true, it’s usually because it is. You’ll rarely find licenced and regulated casinos offering more than 10% - perhaps 20% for a special promotion. If an operator is saying 30% or 50%, we would be suspicious. Always do a background check on the operator to ensure that it holds valid gambling licences, and it’s reliable and trusted.
Top cashback casinos this year
There aren’t many casinos that offer these bonuses all-year-round. Instead, you’re more likely to see them pop up at different times. Some operators like to use them at weekends; others may have a predetermined time each week. Ultimately, there are no hard and fast rules.
Additionally, they are rarely sitewide offers. This means you’ll be restricted to certain game types or games from a specific provider. In our experience, live dealer games tend to have more cashback offers than video slots.
From monitoring the industry, these are the leading casinos that offer cashback bonuses on a regular basis:
- bet365 Casino
- Mr Green
- William Hill Casino
- Betfair Casino
- NetBet Casino
- Paddy Power
WilliamHill Vegas Cashback Bonus Video Presentation
Cashback casino bonus Conclusion
There is no denying that cashback bonuses offered by online casinos hold tremendous value, which is one reason why they aren’t available all the time.
Furthermore, there will be a minimum and maximum payout. As an example, the minimum rebate could be €5 with the maximum capped at €100. Therefore, if you only play with €20 or €30 in your account, you wouldn’t qualify.
Use the tips provided on this page to locate the best deals. Cashback blackjack is highly recommended by our team because this game has a high RTP to start with, so any form of rebate will help to swing the advantage in your favour.
As always, bet responsibly and bet smart, and you’ll be able to improve your bankroll through these promotions.Last update: 19-05-2020