Losing money at online casinos is inevitable. But at least, cashback bonuses make it a bit less painful. Many Canadian gambling websites offer players to recover their losses through cashback programs. Some operators offer a 10% weekly cashback, while others give a whopping 20% of monthly losses back on players’ accounts. Some sites let you recoup losses every day! So your task is to pick your favorite casino cashback bonus. And our task is to tell you about the best offers:
Thousands of online casinos in Canada offer cashback bonuses. Most of them are available for every player. But some online casinos give cashback to VIP players only. So be careful when you are searching for a money-back offer.
To find more casino cashback Canada sites, check out our casino reviews.
What you should know about casino cashback
Cashback at online casinos is a promotional offer that allows players to get a percentage of their money back. The percentage usually ranges between 5% and 25%, depending on the casino. And the actual sum of your cashback can be based on your previous deposits, net losses you’ve made on games, losses on slots, and so on. It depends on the bonus policy of your casino.
There are a few things you need to clarify before claiming cashback. So take the effort and read the specific terms and conditions of cashback bonuses:
- Maximum cap. Many online casinos set a cap on the amount of money you can receive as cashback. So if you are a high-roller, make sure your casino allows you to get back as much money as possible.
- Minimum cashback requirements. Not all players can be eligible for cashback at some casinos. For example, players need to lose a minimum of $100 on games. If you are not planning to wager a lot of money, this cashback won’t suit you.
- Promo codes. Some cashback bonuses work only if you have entered a special promo code when depositing.
- Wagering requirements. Unfortunately, some cash returns are not really made with cash. Casinos may give them in the form of bonus money. And if it’s on the bonus balance, it must be wagered a few times before players can cash out.
- Specific games. Online casino offers may work on certain games only. The same applies to cashback. So make sure you play online games that qualify for cashback.
- Validity. Pay attention to the validity factor, especially if your cashback has wagering requirements. If you don’t use your cashback, it may be forfeited due to the end of the promotional period.
In what ways you can get cashback
If you are eligible for cashback, have provided a bonus code, and complied with other terms, you may get your cashback easily. Some online casinos give it automatically, while others require you to claim it as any other bonus.
Cashback in casino loyalty programs
If you are a loyal player and you have reached a certain level, at which you are eligible for cashback offers, congratulations! Now you can claim your cashback every week or month, depending on the loyalty scheme rules.
Most rewarding schemes increase the cashback percentage as you go through the levels. Thus, the higher your loyalty status, the bigger your cashback bonus.
Cashback on bets
It’s a rare case but some sites offer their consumers a cashback for wagers. It means that each bet you place on games contributes towards your future cashback. Regardless of the outcome, a win or a loss, you can get a part of your bet back.
Some casinos return money that you have lost in a net. For example, if you play a slot machine and you’ve got a losing streak, you can recoup a portion of these wagers.
It all depends on the casino operator and its rewarding scheme. So, again, read the terms and conditions before picking a site by its cashback offer.
How casino cashback is calculated
When you see a 10% cashback offer, it’s not just 10% of your initial deposit. Most casinos apply cashback only to losses. And your winnings and bonus bets are excluded from the offer.
Let’s break down a case: a player deposits $100 into an online casino. He earns $100 and loses $300 over the course of a week. Plus, he receives a level-up reward of $70 on his bonus balance. As a result, his net losses are $300 – ($100 + $70) = $130.
In this case, a 10% refund will be $13. This is just an example of how your cashback may be calculated. In fact, online casinos give their own examples of cashback calculations in the terms and conditions of the offer.
Cashback bonuses: pros and cons
Before you opt-in for a cashback bonus, you need to evaluate the benefits of the bonus and its drawbacks. Let us begin with the former:
- Permanent availability. Unlike certain offers such as welcome packages that are available only once, cashback offers can be claimed daily, weekly, and monthly.
- Possibility to return the money. Although it’s not the entire deposit, you can still recoup some of your money if you’ve had a bad casino day.
- Extra money. It’s especially great to know that you can receive real money back from your casino. But even with bonus money, you have a chance to make your session longer and more interesting. Besides, even with as small a percentage as 5%, players have a chance to win.
As for the drawbacks of casino cashback bonuses, they all come with inadequate rules. For example, if you receive cashback as bonus money, and the wagering requirements are too high, it’s not so much fun to receive cashback.
So be careful when you choose cashback casinos. Always pay attention to the rules such as wagering requirements, bonus limits, and so on.
In conclusion
Cashback is one of the most reasonable offers at online casinos. It is a great tool for recovering losses. However, they also can be not very attractive from the point of view of usage. So be sure to learn the details and understand in which cases you are eligible for your money back.
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