The cashback bonus is one incentive that helps keep an online casino bankroll alive. Players often luck out and hit a bad streak, which can leave their pockets dry. But at cashback online casinos, you can get back a percentage of losses to keep playing your favourite games.
While these aren’t the best of terms to anticipate a bonus, cashback for Canadian players can be quite useful. You never know when it may come in handy, so it’s good to get informed about the positives and negatives of claiming cashback.
Cashback Online Casinos Bonus Explained
A cashback is an online bonus whereby the casino reimburses players with a part of their money spent on wagers. A simple analogy is your credit card provider or your favourite online store that offers rebates for spending an amount of money in a given time. At the online casino, the cashback is generally calculated on the amount of lost bets.
Here’s how it works:
The promotional deal typically offers between 5% and 25% rebates. The casino decides the period that the offer will apply to. At the end of the slated time, your accumulated losses are calculated. Based on the percentage rate previously established by the casino, you’ll receive your cashback in your player account.
Calculating the cashback amount is simple. For example, if your casino offers a 10% cashback and you lose $200 in unsuccessful bets, you’ll get $20 back.
Getting back some of your losses creates a sense of assurance for many players. However, the best part is that cashback for Canadian players is free of wagering requirements.
Types of Offers Available at Cashback Online Casinos
There are several variants of these promos at cashback Canadian online casinos. The major difference is often the time of validity.
Happy Hour Cashback: This is valid for only a short time and is renewed daily. You can check the promotions page to figure out when happy hour is at your casino.
Weekly Cashback: Here, cashback online casinos compensate you based on your net losses throughout the week. For instance, a casino has a 10% cashback offer available every Monday. The amount you receive is calculated based on the 7-day period prior.
Weekend Cashback: This is available on the weekends and motivates players to make more bets on these non-working days.
Monthly Cashback: The monthly cashback for Canadian players allows ample time to place wagers. The reimbursed amount depends on the losses accrued within 30 days.
Cashback attached to a Loyalty Program: This bonus is one of the perks of a casino loyalty program. Here players get cashback rewards for moving up a level. The higher you go, the bigger the cashback rate.
How to Get a Real Canadian Cashback Casino Bonus
Qualifying for this bonus at cashback Canadian online casinos may be a tad bit more complicated than a deposit bonus or free spins. The reason for this is simple. While other casino bonuses are claimable after making a single deposit, getting cash back often requires a significant amount of play.
Most cashback online casinos use the following criteria:
Firstly, cashback offers are usually reserved for loyal players who regularly visit the site.
Secondly, you’re more likely to qualify for the offer if you make sizable deposits at the casino. This means high rollers may benefit more than low rollers.
Thirdly, you have to lose a significant amount of bets. Technically this isn’t hard, as losses are unavoidable at the casino. On the other hand, if you do hit a lucky run, your pockets would be lined with cash, so you profit anyway.
Bonus Conditions at Cashback Online Casinos
Cashback offers often have little to no wagering requirements. This is because qualifying for the bonus takes a decent amount of play, so there’s no need to complicate issues further with a large rollover requirement.
However, other restrictions apply to these bonuses, including:
Game Restrictions – In most cases, cashback bonuses are limited to selected games like Poker and Roulette.
Minimum Deposit – Sometimes, the casino will require you to make a min deposit before claiming this bonus. A typical example is a promo that reads, “Deposit at least $200 and get a 50% cashback of up to $75.”
Is The Cashback Bonus Worth It?
Compared to other casino bonuses, cashback may not seem like the most lucrative. However, it simply takes a different angle to serving the same purpose. The welcome bonus, for instance, helps boost your gameplay from the start. Instead, the cashback bonus offers players some insurance against future losses. At the end of the day, it helps you carry on your casino gambling experience all the same. To top it off, you don’t have to bother with cumbersome wagering requirements.
Below is an overview of the benefits and drawbacks of this bonus:
- You win even when you lose
- Has little or no wagering requirements
- Is most beneficial if you’re a regular casino player
- Can be claimed multiple times
- Usually available for live dealer games
- Rare for new players
- May encourage reckless spending since it’s based on losses
- The amount received can be small - choose the right casino!