Casino Cashback Codes

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Chipy’s Guide to Cashback

About Cashback

Cashback bonuses are one of the most popular types of online casino bonuses among players for one particular reason - they refund a percentage of a player's net losses over a certain period of time. Casino cashback promos are one of the best ways to regain your gambling losses from the online casinos you play at. A cashback offer allows you to earn back a percentage of your loss in the form of a cashback rebate issued by the casino directly, or a third party. Some cashback offers start at 5% or 10%, but they can go up all the way to 20% of your loss. 

How does Cashback work?

The easiest way to explain how cashback bonuses work is offering the following example: imagine you’re playing your favourite online slot and wagering £1,000. There’s two scenarios - either you hit big and win a substantial prize, or unfortunately you lose all your deposit. If the last scenario happens, the casino will offer you a percentage of your loss back in the form of cashback to reduce your overall losses. Basically, if you lose, while the casinos make profit, they will agree to pay you some money back, for your loyalty as a customer. As a result, casino cashback offers are more popular within VIP programmes.

Types of Cashback offers

Down below, Chipy has listed the main three types of casino cashback bonus offers:

  • Real Money Cashback

This type of cashback is quite rare, but it’s not impossible to come across such an offer. It doesn’t matter if the cashback is a refund for your losses or for depositing money, the casino will still credit your account with a certain amount of cash that you can withdraw. In general, the cashback amounts are low where real cash is involved, but if the offer is based on a percentage, obviously the more you bet with, the more money you can win back.

  • Bonus Funds Cashback

This second type of cashback offer on our list is more common than the previous one. The offer is similar to any other welcome bonuses offers, where you have to make a deposit and then the casino matches it or adds to your account with a percentage. You should be aware that cashback bonuses come with very strict wagering requirements that don’t allow you to withdraw any cash right away.

  • Free Spins Cashback

By playing slots, you can win free spins and cashback, but separately most of the time. You may be offered 100 free spins and a cashback deal, but when the casino cashback promo involves the free spins themselves, it can be a little confusing. When players receive free spins as a bonus, there’s always a chance they might not win anything, therefore calling this cashback is not necessarily accurate. You should always be aware of casinos that do this.

Cashback Wagering Requirements

First of all, you need to find out if you’re eligible for the cashback bonus offer. Choose a casino to play at, check its cashback offers and then calculate how much you have to wager. If your finances are up to the task, then you’re good to go. It would be a bummer to register with the sole purpose of getting cashback and realize afterwards that you are not able to carry on with it.

Cashback Payouts

The first thing you need to do is choose what payback model suits you the best. Every casino operates differently: some casinos give weekly cashback bonuses, while others offer monthly offers. Our advice is to get comfortable with the timeline of a particular casino’s cashback offers. You can do this by reaching out to the casino's support team and ask for all the information you need. One thing you should always know beforehand is what payment options are available.

Cashback Bonus Codes FAQ

Are there any wagering requirements on casino cashback?
Most of the time, there are no wagering requirements imposed on cashback deals. This means that the cashback placed back into your balance is real cash that you can either withdraw or play with. In this regard, casino cashback works differently than casino bonuses.
How is casino cashback calculated?
Casino cashback is calculated on your net position within the period that the cashback applies to. This means that the casino will revise your total wins and total losses, and pay cashback on the amount you are losing. For example, if you win £50 and then lose £100, your net position is -£50 and your cashback (at 10% rate) is £5.
How do you qualify for a cashback bonus?
Usually, cashback offers can be claimed by all players. However, some online casinos only offer cashback bonuses to players that are part of the casinos’s VIP or Loyal Player program. 
What is the difference between cashback and traditional bonuses?
While the size of cashback bonuses depends on your losses, traditional bonuses are usually inflexible. Traditional bonuses can range from free spins to bonus money to play with. Most bonuses are part of a promotion or as a welcome offer.