An Easy Guide to the Cashback Bonus

The online gambling industry in the Philippines is very competitive. Hence online casinos are offering many incentives such as the cashback bonus to attract and retain customers. Although the form and size of this offer will vary from one casino to another, they generally work the same. It’s a return on your losses to reduce the risk when playing casino games. In this easy guide, we take a closer look at the cashback bonus. Moreover, we’ll be dissecting every single aspect of it to help you understand what it’s all about.

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How Does A Cashback Bonus Work?

You’ve probably heard the term, “The house always has the edge”. This means the games are always in favor of the online casino. However, with the cashback bonus, you get the chance to play again, leading to a higher chance of winning. So, the concept behind a cashback bonus is that when you play real money casino games, you’ll occasionally lose. Therefore, the operator shares the loss by refunding some of the money you spent thus reducing risk for players.

Usually, the online casino refunds a certain percentage of the bet the player loses. But of course, the percentage and terms and conditions will vary from casino to casino. Generally, most cashback bonuses range from 5% to 20%. In other words, the cashback bonus is based on the amount you wagered. This means the more money you wager, the higher the cashback bonus. 

Terms and Conditions on Cashback Bonuses

The cashback bonus almost always comes with terms and conditions, which players should read before claiming the offer. The terms and conditions have everything you need to know about the bonus. For example, you may find that you can only use the bonus to play certain games like blackjack, Sic Bo, poker, and so on. Additionally, you’ll also find information such as the minimum amount you can wager and more importantly, the wagering requirements. Before claiming any casino bonus, not just cashback, make sure you read the fine print. This way, you can spot a catch if the casino is rogue.

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The Most Common Types of Cashback Bonuses 

There are a few types of cashback bonuses you should expect to find in top online casinos in the Philippines. They include:

VIP Cashback Bonus 

This cashback bonus is available to high rollers or players who wager large sums. Therefore, it applies to online casinos that have a VIP program. This incentive is meant to encourage players to become high rollers by reducing the risk of losses. 

Welcome Bonus with Cashback 

You may find operators offering cashback and a welcome bonus in the same bundle. Usually, this bonus comes as a percentage of your first loss. So, new players can enjoy gaming a little longer.

Ongoing Cashback Bonuses

As the name suggests, this type of cashback is offered on an ongoing basis. Most players prefer this bonus because it allows them to boost their bankroll every time. Fortunately, many real money casinos offer it.

Free Spins and Cashback

The majority of online casinos in the Philippines offer free spins for players to use towards various slot games. It’s also common that the free spins come with a cashback as well. So, you can win real money with the free spins and get the money back if you play and lose.

Percentage Cashback Offers

This is the most common cashback bonus you’ll find at real money online casinos. With this offer, the operator refunds a certain percentage of your lost bets.

Cashback Bonus Advantages and Disadvantages

The cashback bonus has its benefits and drawbacks that players must know about before claiming. This will help you determine whether the offer works for you or not.

Advantages

• Refunds a percentage of the money you’ve lost; 
• Increases your chances of winning by increasing your playtime;
• Usually zero or low wagering requirements; 
• Reduces risk;
• Some operators offer ongoing cashback offers.

Disadvantages

• You must lose money to receive the bonus; 
• Only a small percentage of the loss is refunded;
• Some operators will restrict the bonus to the bets you’ve placed that day; 
• This does not apply to losses from other bonuses or when your withdrawal is pending; 
• There’s often a limit to the amount you can claim and wager or lose.

Cashback Bonus Glossary

Before claiming the cashback bonus, there are a few terms associated with it to know about. So, here are the most common terms and what they mean:

• Rating – This is when you compare two bonuses to find the best option. 
• Code – Refer to a combination of numbers and letters to form a unique word that players have to enter to access a bonus. 
• Bonus – A reward from a casino meant to attract and retain players by boosting their bankroll.
• Zero Wager – A bonus that does not have any wagering requirements.
• Frequency – The frequency of bonuses determines the number of times they can be claimed within a specified period.

Conclusion

The cashback bonus is one of the best bonuses online casino players should be looking to take advantage of. It’s a great way to boost your bankroll and increase playtime. Generally, casinos offer it to encourage players to continue wagering because they receive a refund when they lose a bet. Like any other bonus, the cashback offer has terms and conditions as well as pros and cons. Especially for high rollers, the bonus prevents losing a lot of money. But most important of all is to find a reliable casino in the Philippines. Our casino reviews can help you review your options faster.

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