If you can't put your finger on what a cashback bonus is and how it works, we have put together a player-friendly FAQ on this topic. In it, we’ve tried to break down the fundamental characteristics of this casino offer. Plus, we’re sure you’re going to like our smart tips on how to make the most out of this amazing cash gift.
What is a cashback casino bonus put in simple words?
When offering a cashback bonus, an online casino promises to the player to give back a certain percentage of their losses. That is, the casino returns to your account a part of the total amount that you've lost on the gambling website within a specific time period.
Most of the time, if you’re lucky to stumble across a cashback offer, it’ll look something like this: 10% cashback up to AU$300. Now, what does it mean? If you lost, say, AU$1000 in a month, the gambling site will pay you back AU$100. This money will be credited to your casino account.
To be eligible for a cashback bonus, you need to:
- make sure your selected Australian casino actually has a cashback offer;
- spend real money on a casino site;
- reach a certain threshold of losses over a specified period of time;
- claim your cashback bonus.
Well, you can’t actually predict how much you’re going to lose over a certain time period, right? After all, you might be landing a win after win, while your loss total will be insignificant. In this case, you won’t qualify for a cashback. However, if you have the bad luck of drowning in a losing streak and your losses end up reaching a predetermined limit, then a cashback might be a great consolation for you. If the hand dealt to you by fate (no pun intended!) leaves much to be desired, then there’s a cashback bonus to sweeten things up!
Do all casinos provide cashback bonuses?
Sadly, cashback bonuses are not as ubiquitous as, say, welcome packages, free spins or some other types of casino goodies. If you’re a heavy spender and you’d like to benefit from this type of bonus, you should be looking specifically for igaming platforms that have this reward included into their bonus program. With that said, be sure to scrutinize the Bonus Terms before signing up with a casino. A cashback bonus is not a default offer that can be found across all casino sites. In fact, there’s a limited number of Aussie gambling sites that have this kind of deal.
Do I have to be a loyal client to be entitled to a cashback bonus?
This depends on the casino policy. Some gambling sites are of the opinion that in order to qualify for cashback, you need to be a long-standing customer who has proven their loyalty to them. This makes a cashback bonus an exclusive offer that separates stalwart regulars from occasional players. In fact, it’s not uncommon for a cashback casino bonus to be part of a casino’s VIP program. You qualify for this perk once you've reached a certain loyalty level. In this case, a cashback bonus most certainly won’t have any wagering requirements.
At the same time, some legal casinos show more leniency when it comes to bonuses and give out cashbacks to all registered players, regardless of how long they’ve been playing on the site. Naturally, you’d want to clear up this issue before you make too many plans for your potential cashback. Be sure to pick a gambling operator that providers cashback to all clients without looking at their status.
Why is a cashback bonus so meager?
“10%? What on Earth is it, a joke? I gambled away 2,000 bucks and all I’m getting is measly two hundred?” This is what some high rollers may think of the size of a cashback bonus. Indeed, at most Aussie casinos, cashback bonuses are limited to 10-15%. Of course, a cashback bonus is not nearly as attractive an offer as a 100% welcome bonus that never fails to make an impression on players. If a cashback bonus and welcome bonus were having a size-off, the latter would win big time, leaving the former in shatters.
On a brighter side, even a tiny bonus is better than nothing. If you ask us, the most powerful aspect of a cashback bonus is the psychological effect that it has on a punter. Getting a part of your money back after a gut-punching loss can be a great cure against feeling crestfallen and disillusioned. It’s a great way to remind a player that gambling is not only about losing but also about gaining. You can use your casino cashback to make more bets and take new chances, and hopefully the next time you’ll be luckier!
Does a cashback bonus have a maximum limit?
Yes, online casinos take precautionary steps to cap cashback bonuses to a certain amount. For example, it can be AU$200, AU$300 or AU$500, depending on how generous your selected casino is. This means that no matter how much money you’ve lost on bets, your cashback will never exceed the predetermined limit. Be sure to take this into consideration when hunting down the best cashback deal.
Do cashback bonuses come with wagering requirements?
Most of the time, cashback bonuses don't have any wagering requirements. This is one of the things that makes it a coveted reward for punters, both beginners and pros alike. In an e-gambling world where nothing is gratis, a wager-free bonus is such a rare phenomenon that many gamblers at first find it extremely hard to believe that a cashback bonus has no strings attached to it. Yet it’s true! The reason is simple.
A cashback bonus is a post-betting bonus, if you will. You get this reward after you’ve already spent a certain amount of money on the igaming platform. That’s why it doesn't make sense for the casino to oblige you to wager more money releasing the bonus like it’s the case with welcome, reload, birthday, and other types of money rewards that are given to you before you start betting. This makes them similar to a loan that you need to pay back later.
Don’t get all too relaxed though! The nasty thing is that some Australian casinos do attach wagering requirements to their cashback offers. In this case, you’ll have playthrough requirements hanging over your head like the Sword of Damocles. If you choose to ignore the conditions, your cashback will become void.
Do cashback bonuses have an expiration date?
Most casino bonuses normally come with an expiration time. This means gamblers don’t have forever to make a good use of it. The expiration time can amount to 7 days, 14 days, 30 days, etc., depending on the casino policy. Once the money has been credited to your account, the time starts ticking. Don’t worry, you’ll be seeing how many days you’ve got left in your personal casino account.
If your cashback bonus has wagering requirements, your task is to play through the bonus within the specified time before it burns down. If your bonus is wager-free, you still need to use it up on real money bets within the said time period - but this time, without the pressure of having to wager the bonus sum over a certain number of times.