Online casino cashback
There’s one undeniable truth when it comes to gambling – you win some and you lose some. Some online casinos soften the blow of losing streaks by offering cashback.
For limited time periods or certain games, casinos will temper your losses by handing you back some of the money you lost while playing. Some casinos even offer you cashback on all your losses, and others tie it into their VIP schemes so the higher up the scheme you rise, the greater the percentage of your losses you receive back. This page will present you with the latest cashback offers, and explain how it is calculated.
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How online casino cashback works
Loosely speaking, casino cashback is the equivalent of rakeback in online poker.
A typical casino cashback offer will run for a certain time period. Weekends are very popular times for cashback promotions, as it’s when people have free time, and inevitably spend the most.
To take part in a cashback promotion you will probably need to ‘opt-in’. How you are able to do this should be explained on the terms and conditions page of the cashback promotion. A casino cannot ‘force’ you to take part in any promotion. You may wish to play some of the games that qualify for cashback, but you might not want to take part in the offer. Some casinos will expect you to take the opposite stance and ‘opt-out’ of the promotion instead – again, check the T&Cs.
Many cashback offers are restricted to certain types of games. Slots are a very popular choice when it comes to such promotions. You may find other cashback offers for table games, or specific games such as blackjack, roulette or baccarat.
You will also find cashback offers that include the majority of games at an online casino, but generally not every single game is included. Any excluded games will be listed within the terms of the cashback offer, so you will know which titles to avoid.
How online casino cashback is calculated
Say for example your favourite online casino decided to offer a 25% cashback offer for the weekend. The qualifying period is from 18:00 Friday to 08:00 Monday. You deposit £200 and you start playing, being careful to avoid any games that are excluded.
During the qualifying time period you play 100 £1 spins on ‘Starburst’, and you end up with £80. You then try 500 £1 deals on blackjack, and you end up wining £600. Finally you give video poker a spin – 200 hands at £2 per hand, and you have £200 left at the end of it.
In total you wagered £1,000 – £100 on Starburst, £500 on blackjack and £400 on video poker. You ended up with £80 from Starburst, £600 from blackjack and £200 from video poker, for a total of £880.
In total, you lost (£1,000 – £880 =) £120. As 25 percent of £120 is £30, the online casino very kindly credited your account with £30 in cashback, so your losses for the weekend were actually £90, and not £120 as they would have been if the cashback promotion hadn’t been running.
Note that cashback only applies to your losses. If in the example above you had won £300 on Starburst instead of £80, you would have ended up with £1,100 in total for a net £100 win. You do not gain an extra £25 (as 25 percent of £100 is £25) on top of your winnings.
Some casinos will feed your cashback into your account as money you can withdraw, but most will feed it back as bonus money. Cashback bonus money does not usually come with the same kind of wagering conditions as first deposit bonuses or no deposit bonuses. You’ll probably find you only have to play-through your cashback once to turn it back into real money that you can withdraw.
Online casino cashback conclusion
Grosvenor Casino runs the most generous cashback offer, giving you 50% back on your first month losses up to £500. Sky Vegas, meanwhile, runs monthly cashback offers. We are big fans of cashback offers, provided the terms are transparent, and that table games are included. Just remember to ‘opt-in’!
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