Best Cashback Bonuses 2024

Online casinos use cashback bonuses to appeal mainly to new players and encourage the existing ones to play casino games more often. Essentially, a cashback bonus is a type of bonus that allows a player to take back a part of their money lost on a specific game, or on a couple of games for a period of time at a casino.

Typically, a cashback bonus grants a partial refund of the net losses of a player instead of the entire amount they deposit or play. The percentage of the refund differs from 5% to 25% based on the casino. This cashback amount is commonly transferred into your casino wallet as bonus money, which you can either choose to make a cash withdrawal or use it for playing more games at the live casino.

Players can receive cashback bonuses to play online slot games or table games such as blackjack, poker, baccarat, and roulette.

Different casinos offer cashback bonuses of different shapes and sizes. Here, we've listed the most common cashback bonuses you can find at live online casinos.

Cashback on All Losses

When players claim a cashback bonus on all losses, they get a percentage of their net losses. The cashback amount received is always predetermined and commonly varies from 5% to 25% based on the casino. With this type of cashback, players get their bonus money no matter what game they play. Since cashback bonuses are usually attached to particular casino games, these bonuses aren't very popular.

Cashback on Deposits

Players are given a percentage refund of their initial deposit if they claim this type of cashback bonus. For instance, if they request a 20% cashback bonus when they deposit $100, they'll take $20 back at the end of the cashback duration, regardless of their net losses.

Losing Bets or Spins

The casino will gather information about all the bets and spins played and lost and provide a ratio of the amount at the end of the cashback duration.

Daily Cashback Bonus

This version of cashback bonus is the most common among all the other bonuses. If players activate a daily cashback bonus, the casino will give them a percentage of their net losses at the end of the day. The bonus needs to be spent within a certain period determined by the casino.

The quantity of cashback received depends, of course, on the money players spend. The more they spend, the higher cashback they receive at the end of the day.

Weekly Cashback Bonus

The weekly cashback casino bonus does exactly what it says on the tin: it pays back a percentage of a player's losses after the period of seven days is up. So, if the cashback wagering requirements are completed, the casino transfers the bonus money to the player's account at the end of the cashback period.

Monthly Cashback Bonus

Monthly cashback bonuses are similar to the weekly cashback bonuses, but they cover an entire month. Players are given a ratio of their net losses by the end of the month.

Wager Free

Wager free cashback bonus lets players get a portion of their net losses even if they don't complete the wagering requirements. It is as simple as it sounds. However, it is important to note that the casino will most likely set a minimum limit on losses, which means that players need to spend at least a certain amount before they can be given a refund.

VIP Cashback

VIP plans are considered one of the best incentives provided by online casinos for players. The casinos reward their loyal members with certain benefits such as increased cashback offers.

If a player becomes a VIP member at an online casino, the player may be eligible for a cashback bonus as high as up to 50%.

One of the most frequently asked questions by players is how they can use their casino cashback bonuses. There are several ways to use cashback bonuses. Some people prefer to cash out so they can use the funds for something else. However, most live casino platforms provide certain criteria for using the cashback bonuses they offer. Players have the option to either accept it or allow it to go.

One of the major ways that most live casinos use is to make sure that players use the given bonus on their website. Therefore, gamblers do not have a "walk away" option. This ensures that the platform giving out the bonus is not at a loss if players walk away. However, players can win big with the cashback offers if luck falls in their path.

Another cashback method is through real cash (more about that in the next section). While you are looking to know how to use your cashback, you also need to know about the genuine casinos offering cashback bonuses.

In common with other online casino bonuses, cashback bonuses are accompanied by detailed terms and conditions. We cannot emphasize enough the importance of reading these bonus terms and conditions. They will display all the information about your casino cashback offer, like minimum deposit, withdrawal limit, wagering requirements, time limits for bonus, promotion validity, and more.

Minimum deposit:

A large majority of the bonuses offered by live casinos are deposit bonuses. If players want to be eligible for a bonus that comes with a deposit condition, they need to deposit the minimum sum of money. It is important to know that any player who makes a deposit for an amount less than the minimum deposit won't be entitled to claim a cashback bonus. Let's imagine a live casino provides its players with a %100 cashback bonus for deposits of $20 and above, then only players who pay $20 and more will receive their bonus funds for their deposit.

Max bonus withdrawal limit:

Some promotions have a limit on the maximum amount that a player can withdraw. This way, casinos can keep track of how much money they pay their players through the bonus offers. Let's look at an example where the maximum cashback bonus withdrawal is restricted to $5,000. The bonus claimed by a player is a welcome bonus that comes with a 100% cashback. The player made a $100 deposit and was given a $100 bonus and achieved $6,000. Then the player even managed to clear the wagering requirements and now wants to withdraw all the money. But, since this is beyond the maximum cashback amount, the player will wind up having to leave $1,000 behind.

Wagering requirements:

A wager - also called a bet - is placed on online slots and casino games. If players claim a casino bonus, the money they receive is paid in bonus money instead of a real balance. In addition, any winnings they get by playing with free spins are paid in bonus money as well. The bonus money comes with specific wagering requirements.

Players have to meet the wagering requirements in order to make a cash withdrawal, since they can’t withdraw bonus money. Most beginners think these terms sound complicated and even experienced players find them hard to comprehend at times. A wagering requirement is the amount of money, which is commonly in the range 30x-45x the bonus money, that players have to wager in order to be allowed to cash their winnings.

The bonus can be used as real money after completing the wagering requirements. If players fail to complete these requirements, unfortunately, their bonus money won’t turn into real money for cash withdrawals and will be taken away as a punishment.

Bonus validity:

Live casino bonuses can be given to players on a daily, weekly, and monthly basis. Sometimes, its validity can be for certain days. Players must claim a cashback bonus before it passes its expiry date.

• Decreases losses
• Comes with low or no wagering requirements
• Offers a fast withdrawal of real cash

Like the popular saying, "all that glitters is not gold." Having said that, it is crucial to know if claiming a cashback bonus is worth it or not.

This is a great deal and it's fascinating to most players. They won't be unhappy to get free money from playing a live game they were going to be playing anyway. While their initial aim is to win but losses come in the journey, they are not going to hold anyone or company responsible for that.

However, live casino providers compensate players based on their losses. Thus, they are encouraging and supporting players to keep playing with them in the hope of getting some huge returns anytime soon.

Although cashback bonuses are handled in different ways by live casinos, the bottom line is that these bonuses are worth it. It is even more valuable than other promotions offered by live casinos. Therefore, players appreciate cashback bonuses as it gives them more opportunities to bet and win.

It is interesting to know that getting cashback is not only available on net losses.

These bonuses are also available in other forms, including:

• Percentage cashback
• Welcome bonus with cashback
• VIP cashback
• Free spin and cashback
• And ongoing or revolving cashback offers

All these are worth a player's time and involvement in playing at live casinos.