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Complete Guide to Cashback Bonus

In online casinos, you’ll sometimes lose money. This is a fact that all gamblers have to live with. In fact, we all understand that casinos make money off of our losses. Online casinos are a little better than their land-based counterparts in that they offer some bonuses to ease the pain of losing money. What we’re talking about here is the cashback bonus.

In summary, this is a promotion that gives the player a percentage of their net losses as a bonus. Many casinos even give these funds out as real money, meaning they won’t be attached to any conditions. So, what exactly is a cashback bonus and how does it work?

Read on to get a good picture of the cashback offers you will find on online gambling sites.

Best Cashback Casinos Canada – May 2024

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Nº1 Crazy Fox
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Top Doggo
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Hot iWild
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4 Slot Hunter
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5 Dreamz
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6 Nine
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7 Rant
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8 SlotWolf
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9 Cosmic Slot
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10 Lucky Dreams
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Nº1 Top Hot %row_index%
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What’s a Cashback Bonus?

Before we proceed any further, we need to figure out what a cashback bonus is. As mentioned earlier, this is an offer that is granted after a player makes a net loss in a casino. That means players who turn a profit will have to forego the cashback bonus.

So, how often can you get the cashback bonus? The period will vary from one casino to the next. In most cases, the casinos will calculate cashbacks on a daily, weekly, or monthly basis. For example, Crazy Fox casino offers a 20% cashback bonus on a daily basis. For example, if you make a net loss of $100, $20 will be returned to your account as a bonus. At Lucky Dreams, players are awarded a 10% cashback when they deposit and play between Thursday and Friday (any week of the year counts).

The bonus is normally added the day after the promotion ends. For example, a Monday cashback will be added to your account on Tuesday. A site like Lucky Dreams ends its cashback promotion on Friday and adds the bonus to your account on Saturday. Take the other example of Slot Hunter. On this site, players get weekly cashback bonuses, and the funds are credited on Monday. The bonus you receive depends on the results of your gambling activity over the previous week.

Cashback Casino Types

The cashback promotion ranks as the best casino bonus Canada. It comes in many different forms, and gambling sites can get very creative with the promotions. You’ll find many casinos with cashback offers at Gamble Guys Canada. Some of these are Slot Hunter, Rant, and Lucky Dreams. So, what are the different types of cashback offers available on online gambling sites? And how do they differ?

The first type is the one-off or special cashback bonus. With this promotion, the cashback casinos Canada will offer you a rebate that applies to a single deposit. You may need to activate promotional emails to qualify for such promotions. It is also common to just get the cashback when you log into your account.

Other casino cashback bonus offers are available to all members of the gaming site. You’ll usually need to use a signup link or bonus code to access such bonuses. Keep in mind that all details about these casino cashback bonus will be covered on the promotions page of the site. If you’re having trouble claiming such cashback offers, consider reaching out to the customer support team for assistance. They may add the bonus manually to your account if you qualify for it.

The most popular type of cashback bonus casino is the VIP or loyalty offer. This can be found in sites like Rant, where you can get up to 25% in cashback bonuses depending on your VIP rank. From the casinos we’ve covered at Gambleguys, it is common or expected that sites with loyalty programs will attach cashbacks as part of the VIP perks.

As we’ve seen with the example at Rant, the size of the cashback will go up as you move to higher VIP levels. New players or those at the lowest rung of the ladder may not qualify for the offer. Consider going through the VIP rules of your casino to see how you can ascend to higher tiers quickly. In most cases, you’ll simply need to place higher wagers more frequently. Tracking your comp points is a great way to see how much you need to wager to proceed to the next VIP level. Some high rollers will be quickly elevated to the top of the club, so you shouldn’t hesitate to ask the support team about the VIP club.

Progressive cashback offers can be placed in a category of their own as they don’t necessarily have to be attached to a loyalty program. You just need to enroll in a promotion and work your way up the ranks. Over time, you will get a higher cashback. For example, you can start off with a 2% cashback and advance to a rebate worth 30% of your net losses.

In some casinos, you will be rewarded with a cashback on your total bets. These cashback bonus casino will simply calculate the total amount you’ve wagered and send a percentage as a rebate, regardless of the outcome of your bets. For example, if you deposited $500 and wagered $200, a casino with a 20% cashback will give you a bonus worth $40. It doesn’t matter whether you won or lost money. As you would expect, this type of cashback is extremely rare in Canadian casinos.

Next is the rebate offered on the total deposit you make. In this case, the casino won’t spend time and resources working out your net losses. Instead, it offers a percentage of your deposit as a cashback. Unlike regular match bonuses, these ones are offered at the end of the promotional period. That means you’ll have to wager your deposits so that you receive the cashback. Deposit cashback bonuses usually have more restrictive terms when compared to regular cashbacks. They are also extremely uncommon.

Another type of cashback is what can simply be described as a gimmick. For example, you can get a cashback on every bet or even on your win. These will usually be offered in new casinos as they try to grow their user base. Some established casinos may simply use gimmick cashbacks to attract new players or motivate the existing ones to keep playing. Gimmick cashbacks are usually not sustainable in the long term, and this is why they aren’t very common.

Next, we’ll look at the software provider cashback. Like gimmick cashbacks, these ones are usually time-limited and are meant to drum up interest in a specific developer. As you might have assumed, software provider cashbacks only apply to games offered by a certain developer. For example, a casino could offer such a bonus on games developed by NetEnt or Microgaming. Playing any other games wouldn’t count towards the promotion.

The live casino cashback bonus is fairly rare as most of these promotions are aimed at slot machines. Still, you will find them on multiple gambling sites. They are offered on losses made when playing live blackjack, roulette, baccarat, or other live games.

Converted rebates are also available in a number of online casinos. These aren’t normally thought of as cashback bonuses, but they follow the same line of thinking. With these offers, you will receive points whenever you spend real money on games or lose money when gambling. These points can later be converted to free spins, crypto coins, lottery tickets, or other forms of compensation.

You shouldn’t confuse match bonuses with casino cashback bonus offers. The former is usually offered to new players as part of the welcome package and matches the amount you deposited by a specific percentage. They are added to your bonus account even before you start playing. On the other hand, cashbacks will be calculated after you wager your funds. Keep in mind that match bonuses usually come with highly restrictive terms and conditions, and this isn’t the case with rebates.

This isn’t to say that a casino can’t have a welcome bonus that includes cashbacks. Some packages can be sweetened to attract new players, and this may mean your net losses will qualify for a rebate. The casino cashback bonus will be used differently from the match bonus and will have a different set of terms.

How to Get Cashback Bonuses

Cashback bonuses are very easy to claim. However, the process will vary from one casino to the other. Most times, the offers are automatically credited to all players who qualify. However, some will require you to opt into the promotion through the bonus page or deposit page. Another alternative would be to add a bonus code that indicates you’re willing to participate in the promotion.

Once that is done, you just need to go to the payment page to add funds to your account. Scan through the terms and conditions to see whether there is a minimum deposit requirement for players to qualify for the offer.

With a funded account, you can go ahead and place your bets. It is important to be careful at this point since some games may not qualify for the casino cashback bonus. Take Lucky Dreams casino as an example. On this site, players need to place wagers on blackjack specifically if they want to claim the offer.

It is also important to take note of the days when the promotion is running. Does the offer run on Mondays, Wednesdays, or Fridays? Is it a weekend cashback that runs from Friday to Sunday? Understanding this will help you determine the days when you should place the highest wagers. Note that almost all casinos count the promotional periods from 00:01 AM on the first day to 11:59 PM on the last day. Any bets placed within those hours on the promotional days will qualify for the rebate.

Keep in mind that some casinos will ask you to opt into the promotion just before they add the bonus to your account. This is why you should log into your account frequently on the day following the end of the bonus period.

Still didn’t receive the bonus?

It’s now time to contact the support team. Remember that most of these processes are handled by bots, and they can make mistakes now and then. A human can look through your transactions and determine whether an error was made. If you rightfully deserve the bonus, they’ll manually add it to your account.

How Are Cashback Bonuses Calculated?

Cashback bonuses are easy to calculate. Most people make the mistake of using their total losses as the point of reference. This is wrong. Instead, you’ll have to calculate your net losses by taking your total deposits and subtracting the total withdrawals made in a specific period. If you claimed a bonus during the promotional period, this amount will also need to be deducted to get the net loss.

We’ve mentioned many different types of cashback bonuses above, so this method obviously doesn’t apply to all types. However, most casinos offer rebates on net losses. That means understanding this calculation method is essential.

Other types of cashback bonuses are fairly straightforward. For example, a rebate on your total deposit is just calculated on the amount you deposited.

Wagering Requirements and Other Bonus Terms

If you’ve been using the best bonuses casino sites in Canada, you’re probably familiar with the phrase ‘wagering requirement’. This is simply the amount of money you need to wager in order to release the bonus to your main fund. You’ll then be able to make a withdrawal.

Most bonuses come with wagering requirements, and this is usually the case with cashback bonuses as well. If the casino cashback bonus is offered on your losses, the conditions will be less restrictive. For example, the 20% cashback bonus at Crazy Fox only comes with a 3X rollover requirement. It’s easy to calculate the amount you would need to wager in order to convert your funds into real money. If you have a $20 bonus, you can just multiply it by 3 to see the amount you need to spend. In this case, it would be $60.

VIP cashback offers also have less restrictive rollover requirements. This will go down even further as you move up the VIP ladder. At the top, it may even be non-existent, and your money will automatically be released to your main balance.

Any bonus that is directly released to your main balance won’t have any further restrictions. You will be able to withdraw the funds or use them to place bets on any game, whether it’s in the virtual or live dealer section of the website.

You will always find details on the cashback on the promotions page. Make sure you go through the terms and conditions of the offers before claiming them. Don’t just check the rollover requirements; it is also essential to consider the validity period of the bonus.

For example, the bonus at Crazy Fox expires within 7 days. In this period, you will be expected to meet the wagering requirements so that the offer is added to your main account. If you fail to fulfill this condition, you will end up losing the entire amount, even if you met 80% of the wagering requirement.

The casino may also specify the games you can play with the cashback bonus. Many sites allow you to play a variety of games, but each category has a different wager contribution. For example, slots may contribute 100% to the wagering requirement, while table games contribute 10%. In such cases, it would make more sense to play the games with the higher wager contribution. Almost all casinos restrict players from using bonuses in the live dealer section.

You should also confirm whether there are any penalties for making withdrawals before you wager the cashback bonus. Most casinos will remove the bonus from your account if you even attempt to ask for a withdrawal before meeting the wagering requirements. This rule is meant to prevent bonus abuse.

The casino may also have rules on how the bonus can be wagered. Check for any limits on the bets you can place at a go. Any wagers you place above this limit won’t count toward the rollover requirement. Similarly, you may not be allowed to place low-risk bets, especially when playing games like roulette. Such activities can be considered bonus abuse and typically result in the complete cancellation of your bonus.

Something else to look out for is the maximum cashback that is awarded by the casino. In most cases, the casino cashback bonus won’t have a limit as it is usually calculated on your net losses. However, some casinos will specify a limit to minimize their liability.

Similarly, they will impose a minimum loss limit for you to qualify for the cashback bonus. This won’t be anything unreasonable. For example, at Slot Hunter, players have to lose at least $1 to qualify for the weekly cashback bonus.

Understanding the terms of the bonus is a great way to avoid unpleasant surprises. If anything is unclear, you can reach out to the support team for assistance.

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