Pros and Cons of Cashback Bonuses
Pros and Cons
- Several different variations
- Reward for gaming activity
- Can be daily, weekly, or monthly
- Often only apply to losses
What Is a Cashback Bonus?
There are many variations among the types of online casino bonuses you’ll encounter, but one of them is likely to be a cashback bonus. This promotion typically means that you’ll receive a bonus representing a small percentage of your overall losses over a certain period of time.
That said, online casinos are well known for being a little inventive when it comes to bonuses and promotions, so you will find several other types of cashback bonuses too. We’ll take a look at some of the possibilities in the next section.
Different Types of Cashback Bonuses
You can think of a cashback bonus as a partial refund, which you receive as a reward for either your gaming activity/total spend, or to help you offset your losses. We’ve seen various ways that online casinos
Cashback Based on Your Overall Losses
This is the type of cashback bonus you're most likely to receive. Occasionally an online casino might offer a relatively high cashback bonus for a short period as a welcome bonus. An example might be ‘25% of your total losses refunded for your first 48 hours’.
Most often though, it’s part of a regular promotion whereby you receive a small percentage of your losses back on a weekly basis. That said, we have also come across online casinos that offer a daily or monthly cashback bonus, but those are less prevalent.
Cashback on Reload
Online casinos rely on their players making regular deposits, after all they are businesses at the end of the day. One way of incentivizing players is to reward them for depositing in the form of a percentage cashback.
We have occasionally come across online casinos that offer a cashback reward for
every
deposit, but that’s unusual. Most offer them as a promotion on a certain day. ‘Deposit $100 or more on Thursday, and receive a 10% cashback’, for example.
Game-Specific Cashback
Sometimes when an online casino is promoting a certain game provider, or in some cases, a new game, you might be offered a cashback reward based on your activity for the specified game(s) only.
It is typically a very small percentage of your gameplay, less than 1% in some cases, but every little counts, especially when it’s applied regardless of whether you win or lose. We have also come across cashback bonuses where the percentage varies according to the
type
of game e.g. a higher cashback percentage for playing live casino games.
Cashback As Site Credit
It’s not something you’ll see every day, but online casinos occasionally offer cashback as site credits, rather than as withdrawable cash. Most often these credits can be exchanged for things like bonus spins, or prize draw entries, but in some cases they can be exchanged for real-life rewards including merchandise, event tickets, or discounts when you visit retail sites.
Regular Cashback
The most common option you’ll encounter is a weekly cashback bonus based on a percentage of your overall net losses during the previous week. It’s usually paid on a specific day of the week, and added to your withdrawable balance.
Other options include daily or monthly bonus, which work in a similar way, but those are far less prevalent. You may also find that the percentage cashback you receive is tied to your VIP level, or loyalty program ranking.
Things to Watch Out for
Reputable online casinos with cashback bonuses are usually very transparent in the way that they present them, making it clear from the outset what you need to do to receive the bonus, and how/when it will be paid.
That said, there are certain terms and conditions that could potentially be overlooked and catch you out.
Sometimes, there will be a cap on the maximum cashback you can receive
Look out for excluded games, and those that carry a lower percentage of cashback
There is almost always a minimum deposit amount required to receive the cashback element for a reload bonus
Game-related cashback bonuses may require you to play a certain number of spins/rounds or to bet a certain amount to qualify
Let’s Take a Look at Some Online Casinos with Cashback Bonuses
Not all online casinos in the US offer cashback bonuses, but we’ve found two traditional casino brands that do. The minor downside to both is that they are only available in a limited number of states due to licensing restrictions.
Borgata - 100% Matched Deposit Bonus Up to $500
Sadly, Borgata’s casino is only licensed to operate in New Jersey and Pennsylvania. Borgata has around 2,500 varied casino games to play, and a whole host of ongoing promotions for existing players. Incidentally, the latter do vary slightly between NJ and PA due to local laws.
In terms of cashback bonuses, there are two at Borgata. The first is tied to the brand’s VIP rewards program. Depending on your rank, you’ll receive from 5% to 15% of your total losses every month.
The second cashback opportunity is the ‘Cashback Wednesday’ promo, which is available every week. If you deposit a minimum of $100 on Wednesday, you’ll receive a 20% cashback based on your total losses for the day as withdrawable cash.
Fanatics - Up to 1,000 Bonus Spins Welcome Offer
Fanatics is one of those brands where things are slightly different depending on which state you live in. But to get the bad news out of the way, it is only licensed to provide casino games in four states currently: Michigan, West Virginia, Pennsylvania, and New Jersey.
In addition, the brand’s welcome bonus varies according to state, but suffice to say you will see the correct one displayed on our page banners. Fanatics also does things a little differently when it comes to cashback bonuses too, in that you’ll receive them as FanCash.
The amount you receive is related to your total gameplay activity at a rate of 0.2% for slots, and 0.5% for all other games. FanCash can be exchanged for site credit on a 1:1 basis, or you can use it to purchase merchandise or other items at various retail stores.
Our Recommended Sweepstakes Casinos with Cashback Bonuses
As you’ve seen, traditional online casinos are only available in a handful of US states. But sweepstakes casinos are a great alternative, and they are much more widely available. The main reason is that they operate under US sweepstakes laws, and don’t allow any real-money gameplay.
Instead, you play the casino-style games with two virtual currencies, typically called Gold Coins and Sweeps Coins, although some sites do rename them. But in most other respects there is very little difference.
By that we mean in terms of the games you can play, and the promotions available, which include ‘cashback’ bonuses (called “coinback” bonuses in sweepstakes casino parlance). Allow us to introduce you to some of our recommended brands.
CrownCoins Casino - Welcome Bonus 100,000 Crown Coins and 2 Sweeps Coins
Crown Coins Casino: Pros & Cons
- iOS App
- Great Coinback Program
- Legal in 40+ States
- Limited Table Games
- No Live Chat
Alongside the CrownCoins Casino welcome offer you’ll find many other ways to collect both types of virtual currency. One of those is the brand’s ‘Coinback Program’.
Eligible players receive a weekly coinback bonus based on their total Crown Coins and Sweeps Coins gameplay activity each week. Percentages vary from 2% up to 6% based on their Crown VIP Club ranking.
Stake.us - Welcome Bonus 25,000 Gold Coins and 25 Stake Cash
Stake.us: Pros & Cons
- Highly Diverse Slots
- Huge No Deposit Bonus
- Exclusive Stake Originals Games
- High 3x Playthrough Requirement
- Crypto-Only Payment Methods
If you sign up at Stake.us using our exclusive DIMERS promo code, you’ll receive the full 25,000 Gold Coins and 25 Stake Cash, plus a guaranteed daily bonus of 10,000 Gold Coins and 1 Stake Cash for life.
Stake.us also has a weekly coinback bonus available, but you will need to reach the Bronze tier of the brand’s VIP Program to be eligible. Unlike most coinback bonuses, there isn’t a fixed percentage. Stake.us uses an algorithm to calculate your weekly coinback bonus, and you’ll also need to join the brand’s VIP Telegram channel to claim it each week.
RichSweeps - Welcome Bonus 50,000 Game Coins and 1 Sweeps Coin
Rich Sweeps: Pros and Cons
- User-friendly mobile site
- Various promotions
- Secure gaming site
RichSweeps also has many other bonuses and promotions following on from its welcome offer, one of which is a ‘Weekly Coinback’ promo.
This one is a little less complicated. Your weekly coinback bonus is determined by two factors: the total amount of Game Coins and Sweeps Coins you’ve played, and your VIP tier. As such, the coinback bonus will vary from 7% up to 15%, which is very generous, and it will be added to your RichSweeps account automatically every Thursday at 9:00 am PST.
SpeedSweeps -Welcome Bonus 50,000 Gold Coins and 1 Sweeps Coin
SpeedSweeps: Pros and Cons
- Huge Amount of Slots & Providers
- Modern & Well-Designed Interface
- Live Casino Games
- Limited Customer Support
- $5.99 Lowest Purchase
Last but not least we have SpeedSweeps, in keeping with the general vibe we’ve shown you, this brand also has multiple promotions happening, and yes, one of those is a weekly coinback bonus.
The standard coinback percentage is shown as “up to 15%”, but it only covers Sweeps Coins. The amount of coinback you’ll actually receive is based on your weekly Sweeps Coin activity, and the percentage of gameplay that resulted in a loss. But on the plus side, it’s added to your account automatically on Wednesday at 9:00 am PST.
Rounding Up Our Guide to Casinos with Cashback Bonuses
As we’ve shown you, not every online casino offers cashback bonuses, and when they do, you’ll find them in all sorts of shapes and sizes. We believe that cashback bonuses are very much underrated, as are many other ongoing promotions. If you're planning to stay with an online casino for the long haul, they hold far more importance than a huge welcome offer.
On that note, both the traditional online casinos and the sweepstakes casinos we’ve shown you cover all bases. Unfortunately not all of them are available in every US state, but if any of them are available where you’re located, you’ll find them displayed on the banners of this page which means they’re available for you to sign up.
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Casinos with Cashback FAQs
💵 What Is a Cashback Bonus?
Although there are many variations, most often you’ll receive a cashback bonus that’s calculated as a percentage of your overall losses over a certain period of time. That said, some online casinos most definitely add their own twist.
❌ Do All Online Casinos Have Cashback Bonuses?
Far from it. Most traditional casino brands tend to focus more on generous welcome offers, and other types of ongoing promotions. But despite that, you will definitely find some top-rated casino sites that offer them.
🎟️ Can I Get Cashback Bonuses at Sweepstakes Casinos?
The term ‘cashback’ is confined to traditional online casinos. As sweepstakes casinos don’t allow real money gameplay, you will most often hear this type of promotion referred to as a coinback bonus, which you’ll receive as virtual currency.
If you or someone you know is struggling to gamble responsibly, these free, confidential resources can help:
To make sure you get accurate and helpful information, this guide has been edited by
Mac Douglass
as part of our fact-checking process.
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