What is a 'Cashback'?
Many casinos and online gambling
websites offer customers loyalty bonuses, one of which can be in the form of cash reimbursements, known as “cashback”. Cashback is usually offered to players in return for fulfilling certain requirements, depositing
a minimum amount of cash or even paid on losses. Casinos and gambling websites use cashback and other bonuses as a way to entice to new customers and to keep their existing customers happy and returning to play.
Cashback is one of the most common forms of gambling bonuses
offered to players. Casinos can offer cashback in the form of money, extra plays or a certain percentage credited to their account. Many casinos prefer to credit cashback to players’ accounts, rather than offer it as cash which can be withdrawn, in order to keep players in their establishments and spending money for longer.Some casinos also offer cashback against losses incurred by the player. Cashback on losses is a way for the casino to make the player feel better about losing, offering them a cash return on part of their wager. Commonly the amount of cashback offered on losses is around 20%, and usually casinos will impose a maximum cashback return of around $100. For example, if a player was to lose $400, he could receive $80 cashback on his losses, whereas if he had bet $600, he would not receive 20% - which would be over the maximum cashback limit – but rather the maximum amount of $100.Many gaming establishments also offer cash back on total bets. This allows players to receive a certain amount of cash back, no matter whether the player has won or lost. For example, some online casinos offer 25% cashback on all bets to encourage players to bet larger amounts.