What is a Cash-Back Bonus?
Online casinos are very adept at creating ways to attract new players and reward existing ones. Their primary tools are an array of different bonus promotions aimed at allowing players to stay in action for a longer period of time, giving them the opportunity to hit a big score. One of the favourite bonus promotions for players, especially high-rollers, is the cash-back bonus.
A cash-back bonus, sometimes referred to as a rebate, is a percentage of money returned on wagers made or losses incurred while playing specified games. For instance, an online casino might advertise a 15% cash-back bonus on all losses incurred while playing a selected slot game. If the player loses $1,000 on that particular slot based on the promotion's guidelines, the online casino will reimburse the players account $150 within a specific time frame.
How are Cash-Back Bonuses Different from Other Bonuses?
First, it must be stated that cash-back bonuses are somewhat rare. Many times, they are reserved for high rollers through VIP or Loyalty programs. That said, there are some nice online casinos that offer cash-back bonuses as part of welcome bonus or other ongoing bonus programs. There are three elements that differentiate a cash-back bonus from a regular bonus. First, monies from cash-back bonuses are deposited directly into the player's regular cash account instead of being placed in a temporary bonus account. Secondly, cash-back bonus do not carry the dreaded roll-over (play-through) requirement. Once deposited into the player's account, the funds are immediately available for additional play or withdrawal if the player so chooses. Thirdly, most regular bonuses require the player to make a formal request for the bonus by contacting customer service or using a bonus code. On cash-back bonuses, they might require some action by the player, but many times, the bonus is awarded to the player automatically.
Types of Online Cash-Back Bonuses
There are two primary types of cash-back bonuses that will be discusses for the purposes of this article:
- Cash-Back Bonuses Based on Net Losses - With this type of cash-back bonus, the players receives a stated percentage back on "net" losses incurred. Those losses might be tracked on certain games or over a specified time-frame. If the cash-back bonus is paid based on losses incurred on a certain game, the amounts are usually deposited in aggregate back into the player's account at the end of the day. If the bonus is time sensitive, the bonus will be awarded at the end of the specified period. It is very important that the player understands that these bonuses are applicable to "net" losses, not "gross" losses.
- Cash-Back Bonuses Based on Wagers - This is an even rarer type of cash-back bonus. These cash-back bonuses are awarded based on gross amounts wagered. For instance, a 15% cash-back offer on gross wagers means that if the player "bets" $1,000 on a specific game or with a certain time-frame, they will be awarded the bonus. Players are far more likely to see this type of a cash-back bonus program when wagering on sports or horses where it's easier to track gross wagers. However, there are rare occasions where this type of bonus might be used for a casino games.
Most, but not all cash-back bonus programs offer a percentage of money back on losses incurred from an initial welcome deposit. It's easier for online casinos to track these funds because the player has pretty much lost the entire first deposit amount in order to earn the bonus. Because requirements may differ from casino to casino and bonus offer to bonus offer, it is incumbent on the player to read and make sure they understand the terms and conditions of each offer.
Cash-back bonus campaigns are somewhat rare but do you know what it’s about once you come across one? Be prepared for a nice surprise, because rebates generally don’t come with the dreaded wagering requirement and are transferred straight to your regular gaming account.
Posted by CCJ Team