Best Casino Cashback Bonuses for Canada
Online gambling is big business nowadays and the Canadian market has been exploding in recent years. Many of these online casinos in Canada are vying for a slice of your business and so offer numerous bonuses such as casino cashback to entice your custom. One popular type of bonus that’s come out of the woodwork in recent years is the cashback bonus. Cashback bonuses provide a margin of safety by refunding a portfolio of net losses which encourages players to join and stay playing with the best online casinos in Canada. What’s more, it doesn’t matter if you’re a seasoned punter or a newbie online gambler, cashback bonuses can offer phenomenal value and play a key role in your gaming strategy. In this guide, we’ll talk about the best cashback casino bonuses available in Canada and cover how they work, the forms they come in, and tips to get the most out of them.
What is the Casino Cashback Bonus?
Cashback is money/funds credited to your bonus balance by your online casino as compensation for your losses. Most of the casinos’ cashback offers mature every week, but to qualify, there is a minimum set limit you must spend. Signing up for an online casino with cashback is an excellent way to pillow you against disappointing losses. It’s especially popular with operators like this:
- GGBet Casino
- ICE Casino
- 888 Casino
- PlayOJO
- Vulkan Vegas
- Casumo Casino
- LuckyWins Casino
- Betway Casino
- Betfair Casino
- BetVictor Casino
- Betsson Casino
- All British Casino
- Party Casino
- Lemon Casino
What Are Cashback Bonuses?
A cashback bonus or casino cashback is a type of bonus offered by online casinos that refunds a certain percentage of your net losses on a particular game or period of time. For example, a casino offering a 20% cashback on losses up to a maximum of $20 means that if you lose $100, you will get a refund of $20. If you play your cards right and choose high RTP (return to player) games, this potentially represents incredible value for the savvy gambler. Cashback bonuses are regularly offered to current customers. Also known as a reload offer, such an offer is designed to increase customer retention and reward loyal customers. While cashback bonuses are often designed for loyal returning customers, they do still come in welcome offer flavors too. This is a quickly changing landscape!
How Does Cashback Work in Online Casinos?
The thing to remember when dealing with casino cashback in online casinos is that they refer to NET losses. This means that wagering $100 in the above example for casino cashback bonuses does not necessarily mean the player gets $20 back. The player gets back $20 only if they lose the whole hundred. Should they lose $50, they’ll get $10 back. This means that players need to have a robust strategy in mind and have an exit strategy. Will you play down to the whole net loss hoping for a big win? Do you have a net profit in mind should you hit that first? The key terms to understand (and we’ll cover them in more detail in due course) are the calculation period (is the cashback over a time period of days, weeks, or even months?), limitations (there will most definitely be a maximum refund amount) and game eligibility (not all games are part of cashback promotions and sometimes some will be weighted differently against others).
Types of Cashback Bonuses in Canada
Alright, so now we know about casino cashback, let’s talk about the various forms that they can come in. Cashback bonuses can vary and cater to different player profiles and preferences. Understanding these permutations is essential for choosing a cashback offer that fits your risk appetite and playing style. Not all cashback types are equal and here is what you can expect to see across the cashback promotion offers:
On All Losses
A casino cashback bonus on all losses usually refers to net losses across a certain time frame . This usually means it’s quite flexible according to players in their game selection and stake size making it a nice, diverse option.
Losing Bets or Spins
This type of cashback bonus refers to specific losing spins and offers partial compensation for losing wagers. This will often be for a specific slot game or table game.
On Deposits
This is an online casino cashback bonus that does what it says on the tin. For example, a platform might offer 10% cashback on your total deposits over a week meaning that this could be a no-brainer offer because it might not matter whether you win or lose!
Daily Cashback Bonus
A daily casino cashback bonus refunds losses that are incurred on a single day. Ideal for frequent players, a daily cashback bonus provides a good safety cushion in times of need.
Monthly Cashback Bonus
You probably will have guessed this one: a monthly cashback bonus refunds losses made over a single day.
VIP Cashback
Reserved for VIP players. This type of online casino cashback usually has a higher percentage and special perks such as faster payments and personalized customer service. Additional perks are aplenty for VIP cashback offers and these only scratch the surface for what’s out there for high value players.
Wager Free
The most player-friendly type. No-bet cash offers will be credited as real money. This means you can withdraw instantly without having to fulfill the wagering requirements. These are the most popular types of online casino cashback because they offer far less hassle but as such they can sometimes be less frequent so keep an eye out for these beauties! Wager-free cashback bonuses should be on everyone’s radar because you are getting a better return to player percentage than when you’re playing against the house as always.
How to get the best cashback bonus in Canada?
There are a fair few things to watch out for when trying to evaluate what the best casino cashback bonus is at a cashback casino. Ultimately, it’s all about what gives you the biggest bang for your buck. Here are some of the things you need to watch out for if you want to get the best cashback bonus in Canada.
Cashback terms and conditions
it always pays to check the terms when looking at an online casino cashback. What are the wagering requirements for the casino cashback bonuses? Are the limitations on what games you can play? Will your deposit type be eligible for the offer? Additionally, many cashback offers are limited to players enrolled in the offer or in a VIP program. Understanding these exclusions is critical for you to make the most out of your cashback bonuses and find the cashback casino to enjoy.
No wagering requirements
One of the most attractive aspects of cashback bonuses is the lack of wagering requirements. Always check whether the rebate is credited with real cash or bonus money. Getting access to a no-wagering cashback offer is the holy grail for high-value casino players taking part in cashback promotions.
Opt-in requirements
It’s so easy to dive headfirst into an offer and start playing a plethora of table games in a bid to qualify for a cashback offer but rushing presents a risk of missing out on an opt-in button or requirement to ensure you’re eligible to take part. This would be a massive shame if you wagered a lot of your money only to have missed the opt-in button, so be sure to check opt-in requirements when assessing and evaluating cashback casino offers.
How to claim a cashback bonus
Most cashback bonuses are credited automatically, however, some casinos require you to select one or contact customer support. Always make sure you check the terms and whether there is an opt-in required for the promotion.
Pros and Cons of cashback bonuses
By now you’ll know all about cashback bonuses which might make you wonder whether there are advantages and disadvantages to taking part in them. Like all things in life, there are pros and cons, but we reckon the former outweighs the latter…
Pros:
- Reduces financial risk – you do not lose the entirety of your hard-earned cash because you know you’re at least going to get paid a proportion of your net losses.
- Good incentive to try out different games – you may be unfamiliar with certain table games and nervous to wager all of your money on them. Cashback offers allow you a margin of safety and so are a good method of experimenting with different games that are in the scope of the cashback offers.
- Suitable for both beginners and experienced players. – Cashback offers are for everyone. Although they tend to be more common for existing players (also known as a reload offer), they can be found across the gaming landscape and aimed at a variety of player demographics.
- Simplicity – though they can come in various forms and a bit of maths may be required to calculate your due cashback, this type of offer is inherently simple compared to other types. Win some money, it doesn’t matter. Lose some money, you get a percentage back as cashback. Beautiful!
Cons:
- There is usually a maximum cashback amount – your cashback will be limited to a maximum amount of net losses. Net losses are a key point because it refers to the total amount you have lost, not the amount you have wagered.
- Often the cashback is credited as a bonus that cannot be immediately withdrawn. – check the terms. It’s highly likely that you’re still going to need to fulfill wagering requirements to convert the cashback to real money cash.
- Not all games are eligible. – Cashback is usually limited to certain games. The last thing you want to do is play through $100 on a game only to discover it is not eligible for the cashback offer.
- Maths – if you struggle with percentages you may need some help in calculating what your cashback amount is since unless you’re wagering the maximum amount, you will need to apply a fixed percentage to your net losses to determine what you are owed.
Are cashback bonuses legal in Canada?
Yes, cashback bonuses are completely legal in Canada when offered by a licensed and regulated online casino. You can find information on licenses and their regulatory requirements at the footer of a casino web page or in the “about us” section.
Maximize your cashback
The beauty of cashback casino online is that you can use a few tricks to maximize the value of your cashback. For example, sometimes a cashback offer can be combined with another offer such as a bet bonus, deposit bonus, or free spins. The other way to maximize your cashback is to play games with a high RTP (return to player) percentage. This means that you are expected to lose less overtime against the house. The best games for this include blackjack and roulette. Remember to plan your wagers within the calculation period and you can maximize your cashback. Finally, be sure to opt into marketing communications from your favorite online casinos so that you’re the first to hear of any great new cashback offers you might want to take advantage of.
FAQ
- 1. Can you win real money with cashback?
Yes, especially if the rebate is credited to real cash without any wagering required. Otherwise, the cashback casino online may be subject to bonus wagering requirements. The online casino cashback might sound too good to be true, but presuming the conditions aren’t too arduous, they often are a real thing allowing you to earn real money!
- 2. Do casinos offer cashback?
Many Canadian online casinos offer cashback bonuses to attract and retain players. As promotions are continuously changing, players are advised to routinely visit comparison websites for the best cash-back offers at a time. Just because your chosen casino does not have an ongoing cashback promotion, it doesn’t mean that they never run such an offer. As above, players are advised to opt into marketing communications so that they’re notified when they are running.
- 3. What is cashback in a casino?
Cashback is a promotion where players get back a percentage of their losses for a specified period of time. Though there are varying types of cashback, the premise is usually that a cashback offer refers to a rebate on net losses or against overall wagering. Sometimes the cashback will be credited as cash, but quite often they will be subject to bonus wagering terms and conditions.
- 4. What is the difference between a welcome bonus and a cashback bonus?
Welcome bonuses are generally a one-time offer to new players. This is usually linked to the deposit. Cashback bonuses, on the other hand, refund part of the losses and are available to all players.
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