Cashback: What, How and Why?

Multiple No wagering casinos now provide cashback bonuses that work like magnets, getting your hard-earned money back into your pocket. Even if your day didn’t start out lucky, you still get real cash, free spins or bonus money back with casino cashback offers. Here at nowagering.casino we only showcase bonuses without predatory wagering requirements – cashback bonuses are often one of the fairest bonus types.  It’s a way of rewarding players with real cash towards their balance or free spins that is “refunded” back to the players after a day or 2 of depositng and playing. See the best offers at the moment below or continue to read below the top list to learn all the what’s, how’s and why’s about fantastic cashback deals.

What are casino cashbacks?

What if we told you that you can get a percentage of the money back you’ve lost? In a nutshell, that’s what cashback bonuses are, meaning some casinos will give you back a percentage back of the house winnings. These cashback casinos aren’t just trying to be generous. They attach these offers along side their welcome bonuses as an incentive or reward to their potential customers. With that being said, usually extra cash gets added to your account balance as a form of refund for your losses. Many call it the magnet of slots or magnet of casino betting and there are good reasons for that.

Why care about cashback?

Cashback bonuses act as a refund of a percentage of the player’s net losses over a certain period of time. That’s why they are a popular choice for online casinos players as it provides an opportunity to get financially compensated. These types of bonuses are ideal as they usually have no (or very low) wagering requirements and so they are appealing to take advantage of. There is a wide range of different casino refund offers that attract different types of players – whether you are a first-time player or regular. It’s often a good idea to research and have a look around at our site for different new online casinos. This will help you find the deal that is most suited to you.

How much cashback is standard?

Cashback offers at online casinos are very common and there is no standard percentage, especially when these types of offers are based on a player’s overall losses, and are designed to help you improve your win/loss ratio. However, some of the highest we’ve seen are €/$CA 200 and some of the lowest would be around €20.

Do percentages vary with casino cashbacks?

Percentages can differ from 5% to 25% and losing at a slot or casino table game isn’t the end of the world, with cash being added to your balance instantly or up to 24/48 hours after your balance is lost.Percentages are very important when it comes to cashback offers on online casinos as they usually include a limit to what can be withdrawn from cashback winnings. Example: At time of writing (November 2019) All Cashback Casino have a withdrawal limit of 10x the cashback amount.

Are there time limited offers?

Cashback can be given as weekly cash bonuses, with no wagering on the cashback or it can be given on the following day or within 48 hours. For instance, a casino might have restrictions on earning your money back during a specific day/time of the week. Reading the T&C’s upfront can avoid the inconvenience of not being eligible to get your losses refunded before you jump on your favourite slot and get ready to lose big. Every sensible low wagering casino will have their own cashback requirement. So whether you are a highroller or low stakes player, always read our reviews and country toplists and keep your eye out for the tricks and traps that we will regularly mention.

Which ones are the prime casino cashback pros?

· Casinos can advertise lower cashback percentages with no limit to the amount you are allowed to convert into real cash. In the long run, it can be more advantageous to pick a casino with these types of offers, rather than a higher percentage offer with a capped payout amount.· Usually cashback offers don’t have any wagering requirements or very minimal requirements. This means that you are not tied down to only play on one specific game. You have the flexibility to use the balance on different games or withdraw your money if you do not wish to carry on playing.
· There are many different offers to choose from and all casinos have varying payback frequencies. For example, many pay out daily and others may do it weekly or monthly to retain their existing players.
· If you have a favourite online casino that you play regularly, sometimes they will upgrade you to a VIP player through the loyalty you have for them. Often casinos will offer a better deal for VIP players. For instance, if a first-time player is rewarded with cashback towards their balance, a VIP player may be offered real money as a cashback offer. Therefore, the more you play, the more likely you are to be offered a VIP status by the casino as a reward for choosing to play with them. In case you’d rather have an exclusive casino bonus without cashback, look here instead.

Which ons are the main casino cashback cons?

· You always need to check the fine print, but we’ll do it for you too!· Some online casinos may offer up to 25% cashback on some slots, but only 0.5% on other games. So the question is: are all games worth playing for your particular cashback casino?· Certain welcome bonuses have a high percentage, but this can cap the amount paid out to your account, so it actually works out to be quite a low amount. Although this is ideal for low roller players, it is not necessarily appealing to high rollers as the cap on the cashback bonus would worsen their large amount deposited in the long run.· Unfortunately, some sites will only pay out if you have lost all of what you have deposited. For example if you deposit £200 and withdraw £100, you will not be refunded for the £100 that you have lost. The question is: Have you lost half or more of the money deposited? Again, this is why it is always important to read the terms and conditions attached to each offer before you dive in and hit unexpected bumps when trying to claim your cashback funds.

History of cashback: the reason why we love these offers

In the end, there are always multiple ways to win and the same is true for losing. People in the gambling industry realised early that giving money back to people losing while they are still in gambling mode would likely lead to them playing more. After testing this theory out with other types of not very successful bonuses such as no deposit bonuses targeting low roller players and high wagering bonuses that most people despise, they discovered a new form of bonus. Yes, we are talking getting your lost money back as a form of compensation. This is the only form of bonus where a player can get back up to 100% of their losses, and are able to either leave the slots (or table games) or simply continuing playing for fun and enjoy themselves again and again. Without cashback deals, this would not be possible. What is your opinion about this type of bonus? Let the No Wagering Team know and give us feedback so we can improve our site and always find you the best bonuses out there!