One of the best parts of playing at a bitcoin casino is surely winning, but luck is not always on your side. While the high graphic gameplay is a benefit, you want to ensure you are making money as well. But there is always a silver lining, especially when it comes to casino bonuses.
A common way casinos reward or incentivize customers is through cashback bonuses. Cashback bonuses either give you a cashback on your deposits, or they give you cashback weekly depending on your wagered amount. Regardless of which method they use, cashbacks are a great way to ensure you make a little more at a casino.
We have found some of the best current cashback bonuses available on bitcoin and crypto casinos. Take a look at our list and start benefiting from cashback bonuses.
What are cashback bonuses?
Cashback bonuses are one of the most popular and favored casino bonuses. These bonuses incentive players for their loyalty by giving them part of their losses back.
The value of the cashback will depend on the percentage that players have been granted. These bonuses are usually time-dependent, so it could be over 3 days or it may be claimable every Monday. Normally these bonuses are offered as a cash balance but it can differ from casino to casino, whereby the funds may be awarded as a bonus that needs to be wagered on to claim. It is always important to read the terms and conditions attached to any bonuses as to figure out qualifying games, wager requirements, and more, so keep that in mind when signing up for a bonus.
But simply put, cashback bonuses are reimbursements for lost funds. They are a great way to give back to players who have remained loyal and active.
How do cashback bonuses work?
Cashback bonuses work on a predetermined percentage of the player’s losses. Players will usually agree to a percentage before accepting the bonus. In some cases, cashback percentages are linked to a VIP program whereby players’ cashback percentages increase as they level up.
Once the player’s percentage has been determined, the losses must be calculated. Depending on your cashback percentage and how much you lost, your cashback reward will be awarded. So if a player has a 10% cashback bonus percentage, if they lose $400, they will receive $40 as a part of the cashback bonus.
Players must also take into consideration how long the cashback bonus is activated. Most casinos offer weekly claims but some may be time specific to a holiday event, a promotion, or so on. Each cashback bonus can be unique, so it comes down to the casinos’ rules, but as a general rule of thumb, this is how cashback bonuses work.
How to claim a cashback bonus
Claiming a cashback bonus differs from casino to casino, making it hard to provide a set in stone step by step.
In order to claim your cashback bonus you will most likely have to:
- Read the terms and conditions: Make sure to read the wagering requirements if partaking in a bonus as it may require a minimum spend, loss amount, or wagering requirements. There may also be a limit to participating in games, such as slots or sports bets.
- Apply for or claim the bonus: Make sure you apply for the cashback bonus, either by selecting the bonus or promotion. Some loyalty programs offer cashback bonuses, so ensure you are joined and on a qualifying level.
- Play qualifying games: Some cashback bonuses may be limited to eligible games, so it is important to play the specified games in order to claim your cashback. This is not always the case, but in a lot of instances, sportsbook bets may not count toward the bonus.
- Track your losses and timeframe: Most casinos offer a statistic dashboard to track your wagers, wins, and losses. Use this information to see if you have reached your qualifying loss amount before trying to claim your cashback before your time is up. Whether you only have three days or the bonus is claimable every Monday, make sure you track your progress.
- Claim your cashback: Most casinos will automatically credit your account, but if you have met your wager requirement before the timeframe is up then you can claim early. Follow the instructions if required. However the casino does it, claim your cashback and wait for your funds to reflect.
Pros and cons of cashback bonuses
While cashback bonuses may seem like a great way to make your lost bet funds back, and it is, there are also some cons to be considered. So to end off this guide we are going to outline the pros and cons of cashback bonuses so you can make the final decision.
- Loss recovery: Loss recovery is the main benefit as players can claim a small percentage of their losses back.
- Loyalty: Casinos incentivize players for loyalty by not only offering cashback bonuses but also increasing the percentage for loyalty program members.
- Extra funds: Cashback bonuses can boost a player’s bankroll giving you extra funds that can be used for further gameplay.
- Wagering requirements: Potential wagering requirements that may not be obtainable for lower-budgeted players.
- Game specific: Restrictions of use for how players can use these cashback bonuses, such as only being eligible for specific games or non-withdrawable credits.