An Introduction to the Cashback Bonus
Worried about losing your bankroll when you play for real money? Don’t you worry; the cashback bonus is there to spare you the blushes and save your day. Read on to learn all about this amazing bonus. And check out our list of casinos with the best cashback bonuses for South African players.
Here is what we discuss on this page:
- What is a Cashback Bonus?
- Types of Cashback Bonuses
- How to Claim a Reload Bonus
- Terms and Conditions Governing a Cashback Bonus
- Pros and Cons of a Cashback Bonus
- Cashback Bonus FAQs
Top Cashback Bonuses for South African Players
R100 Free No Deposit Bonus
R400 Free No Deposit Bonus
R50 Free Bet No Deposit Bonus
R10,000 Free Welcome Bonus
R350 Free No Deposit Bonus
R350 Free No Deposit Bonus
What is a Cashback Bonus?
The cashback bonus is a special reward that online casinos offer their existing players. All bonuses are fun and rewarding; what sets the cashback bonus apart is that it gives you the opportunity to recover some of the money you lost while playing at the casino.
This bonus is a form of insurance that casinos offer you. You could also look at it as a token of appreciation that casinos offer you for the time and money you spend playing their games. As the name suggests, this is a cash bonus or a bonus that rewards you with casino credits.
Some casinos offer the cashback bonus on losses incurred while playing specific games only. For instance, a casino may offer a cashback of 15% up to $500 on losses you incur while playing slots.
Some casinos offer the cashback bonus only when your account balance dips below a certain level, e.g. a casino may offer a cashback only when your account balance goes below $1.
The cashback bonus usually comes with low, or even zero, wagering requirements. Some casinos tag a wagering requirement to the wins that you score with the cashback amount.
Ways that Casinos Offer Cashback Bonuses
Casinos calculate the cashback amount as a percentage of the net losses you suffer over a period of time. The different timeframes that a cashback may be offered for are:
- Daily: Some of the bigger casinos offer the cashback bonus every day. In such a situation it is based on the losses you incur during the previous day’s play.
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- Weekly: At some casinos, the cashback bonus is available on losses you incur on specific games over the entire week. The casino, in this case, mentions the time period for which the cashback is calculated, and then credits the cashback bonus into your account the following week.
For instance, a casino may offer a weekly cashback of 15% up to $500 on losses that you incur through the week while playing slots. The cashback eligibility period is, say, from Monday to Sunday – the casino then credits the cashback amount to your account the following Monday.
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- Monthly: Some casinos offer a cashback bonus at the end of each month. In this case the cashback amount may be higher as it covers an entire month’ worth of gameplay and related losses.
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How to Claim a Cashback Bonus
Here are the steps to claim a cashback bonus.
- Open a real money account with a casino of your choice.
- Check the Promotions tab for details about the cashback offer.
- Go through the terms associated with the bonus so you know what you must accomplish in order to be able to claim it.
- Make the required minimum deposit to play for real money and be eligible for the cashback offer.
- If you fulfill the criteria laid down by the casino for claiming this bonus – like going through your entire deposit without a win, for instance – contact the casino’s support team to claim the bonus.
Terms and Conditions Governing a Cashback Bonus
The following are the terms and conditions governing a cashback bonus for South African players.
- Wagering requirement: All casino bonuses come with a wagering requirement, and this includes the cashback bonus. Check the terms and conditions for the wagering requirements for cashing out winnings you earn with this bonus.
The wagering requirement for this bonus is usually lower compared to what other bonuses come with. There are of course some casinos that offer this bonus with zero wagering requirements.
- Qualifying deposit: There is a qualifying deposit you must make to be eligible for the cashback bonus. Check for this amount before claiming the bonus.
- Minimum and maximum cashout: Casinos usually tag a limit on the minimum and maximum cashback you can avail. Check for this information before claiming the bonus.
- Eligibility period: Before using a cashback bonus check how long it is eligible for. The eligibility period varies depending on the type of cashback bonus
- Eligible games: Check the games that you must play to be eligible for the cashback bonus. Most casinos offer the cashback bonus on losses incurred while playing specific game types, e.g. slots or table games.
Cashback Bonus Pros and Cons
There are advantages as well as disadvantages that the cashback bonus comes with. The following are some of the advantages:
- It is a good way of recovering some of the losses you incur while playing at an online casino.
- It usually comes with minimal strings.
- The wagering requirements for this bonus are usually low; some of them have no wagering requirements.
Here are some of the possible disadvantages that a cashback bonus comes with:
- It is available only on certain games.
- It may expose vulnerable players to the risk of addictive gambling behavior.
- The cashback bonus is offered as a percentage of losses incurred – anywhere from 10% to 25% generally – and the cashback amount may therefore be small compared to the losses incurred.
Cashback Bonus FAQs
A cashback bonus is a special bonus that casinos offer to help you recover some of the losses you may have incurred while playing for real money.