Cash Back Bonuses

Loyalty Program: Cash Back Plan

Most bonuses tend to add on what you have; sign-in bonuses give you additional amount on your deposit, no-deposit give you free credits to start but Cash-backs give back what has been taken away from you. Cash-back plans are mostly part of loyalty program as the casinos only offer this to selective players or players need certain eligibility to quality for this cash-back.  There are various ways a casino can give you back your money and these schemes depend on the casinos themselves; you pursue what makes you comfortable, easily accessible and most profitable. To help you judge, we explain the ways they can be offered.

How Cash Back Programs can be offered

Cash back program as a percentage on amount wagered

Online casinos have a certain house edge which they hold as part of their commission. This house edge is mostly theoretical and effective in the long-run. As an incentive for players, casinos give a certain percentage of their house edge back to the players as part of their Cash Back program. The total amount of cash-back depends on your betting behavior and the total amount that a player has wagered in the casino. For example, a player deposits $100 in a casino and manages to turn it over a few number of times, making wagering in the casino to total $600. If the casino has a standard payout percentage 96%, the house edge amount would theoretically be $24 (4% of $600). The cash back percentage (example 15%) offered by the casino applies to $24 and the cash back amount given to the player would be $3.60.

Being part of the loyalty bonus, the more you wager; more the amount of cash back you are eligible for. If a player is able to wager $700, the cash back will increase to $4.2 Apart from that, casinos are more than happy to increase the cash back percentage if they feel the player is worthy enough. Players also need to keep in mind that this type of Cash Back Program is weekly or sometimes monthly, which means players can have increasing cash balance in a recurring basis. Additionally, these cash backs add up to the bank balance maintained with the casino, which means there are NO WAGERING REQUIREMENTS.

Cash back as a percentage of deposit amount

Some online casinos give you cash backs depending on the amount you have deposited and are mostly on the progressive basis. These types of cash back programs are straight forward and behave like casino bonuses. Online casinos give certain percent cash back on the cash amount player deposits with the casino. These cash back amounts then behave like a bonus where you have certain wagering requirements to fulfill. It may seem like the casino is giving you back a part of money your deposited but this is true only after you turnover that amount the number of times set by the casino.

The percentage of cash back may increase as you increase your deposit amounts. So, a $1000 deposit may have cash back of 20% and a deposit of $5000 may have cash back of 30%. Whatever the percentage may be, the amounts you receive is a bonus amount and require a turnover as does any other regular bonus before its eligibility to be withdrawn. Additional terms and conditions may apply depending on the casino.

Cash back program with point rewards

Cash back points are awarded after a player wagers a certain amount in a game. They earn these points as they wager and after collecting certain points, they can exchange it with cash or other types of rewards as the casino offers. These are also known as Comp points offered by the casino. The comp points earned by the player also depends on the game. For slots, you might receive 1 point for every 10 chips wagered and for blackjack you may receive a point for 50 chips played. Players need to collect a minimum number of points before they can cash in points and the casino sets an exchange rate for the points.

So, a cash back loyalty program on points may look like: 1 point for 10 chips wagered; minimum 500 points to be collected before converting to cash. 500 points are worth $5. Generally, after players have traded your comp points with cash, they can withdraw it immediately. Additional terms and conditions apply depending on the casino.

Back to the top