Simply put, a casino cashback bonus is a promotional offer from an online casino that returns a portion of the accumulated wagers that players lost over a certain period of time.
These cashback bonuses are typically offered more frequently (and, in some cases, last indefinitely) by Canadian gambling sites, which is why they are one of the most appealing bonuses for long-time players, as opposed to offers like welcome bonuses that only apply on registration.
Because it does take a bit of time (and money) for players to actually benefit from it, the cashback bonus is more often sought after by gamblers who play over the long term.
Let’s start with an example cashback bonus headline:
“Weekly 10% Cashback Bonus up to C$100”
This and the many permutations of this phrase is what you will typically encounter when looking at cashback bonuses from a real money casino in Canada, and they give you most of the basic terms that you need to know about what you will get from the bonus.
To better understand what it all means, let’s break it down into chunks:
The “weekly” part of the phrase refers to the bonus period in which the cashback offer applies. What this means in our example is that the cashback offer will collect losses over the period of one week and give cash back based on the accumulated amount during that time. Other offers may extend this period to two weeks or even a month.
The “10%” portion, as you can probably tell, refers to the percentage of your losses that will count towards the cashback amount. For example, if you lose C$50 on a wager, the cashback offer will give you 10% back, or C$5.
The “up to C$100” part specifies the cashback cap that the cashback bonus offer will reimburse at the end of the bonus period. Different casino operators in Canada will offer different cashback caps, but in general, they all function the same way – lose enough wagers to exceed the cashback cap, and you will only get the amount specified in the cap.
Claiming a cashback bonus offer from an online casino is a really simple process that only takes a few steps. These steps are as follows:
As with all promotional offers, online casino cashback bonuses have a bevy of casino terms and conditions that conveniently hide behind the big headline that the casinos advertise. We strongly encourage you to carefully analyse the fine print of these cashback offers before you put any money into a promotional offer that turns out to not have the value that you are looking for.
We have listed a few of the most common terms and conditions below.
Wagering requirements are the typical pitfall of just about every bonus offer from new casinos online, requiring the player to wager at least a certain amount of money before they are able to withdraw the money they get from the cashback.
For a C$100 cashback bonus with a 5x wagering requirement, the player will need to wager at least C$500 before they can withdraw the money they received from the cashback – that is, assuming there is still any left.
In some cases, the casino may also impose a cashout limit on the cashback offer, which sets a maximum amount that the player can withdraw either on a per-transaction basis or over a longer time period.
Some online casinos in Canada may restrict their cashback offers to only count any losses from a specific range of online casino games. These games may, for example, include a range of games from a specific developer as part of a brand promotion, or they may only have games that have a certain RTP.
This means that players will not be able to claim their cash back, if they play games that aren’t really inside the list prescribed by the online casino.
Finally, casino cashback offers will typically have a time limit in that the offer may only be redeemed by players during a set time period. This tends to be the case with month-long cashback offers, which online casinos may only offer on certain significant months.
With real money backing it, cashback bonuses are no doubt incredibly desirable especially when your welcome bonuses have all expired. Check out our growing list of cashback bonus casino reviews and find the bonus that works best for you.
Although they are not very common, online casinos in Canada do have cashback offers every now and then. Stay tuned to Inside Casino to stay updated on these offers as they appear.
A cashback bonus works by reimbursing a portion of the wagers that the player lost on the online casino’s games. This provides a bit of a consolation for players who fell into big losses or losing streaks.
Some online casinos in Canada offer a cash back bonus as part of a limited time promotional offer or as a loyalty reward for longtime players. You can find all of the latest and best cashback bonuses in Canada from our casino reviews here at Inside Casino.