Cashback or insurance bonuses are among the best online casino bonuses, second only to the no-deposit bonuses in my books. The cashback bonus is a refund an online casino gives to players to cover a percentage of the losses they incur while playing their favorite games.
For many players, these refunds are attractive since they provide additional funds to their bankroll while minimizing losses.
Their availability to new and existing players is another reason why cashbacks are a fun addition to the online casino bonus lineup.
Like every other casino bonus, finding the best cashback offer can take time since they aren’t present on all gambling sites, and those with this offer often have unique terms and conditions guiding their use.
To ease the process of finding the best insurance bonus and improve your knowledge of this offer, we provide a simple breakdown of everything you should know, covering aspects like the types of cashback bonuses, how to redeem cashback offers, standard Ts and Cs, and other similar bonuses.
Additionally, we provide tips on finding high-quality cashback bonuses and the best ways to use your bonus.
Best Cashback Casino Bonus Codes in 2023
$25 On The House + $1,000 Bonus
100% Match Bonus Up To $2,000
100% Match Bonus Up To $2,000
New Player $1,000 Bonus
New Player $1,000 Bonus
100% Match Up To$2,500
$1,000 Bonus On 1st Deposit
Online casinos are constantly expanding their bonuses and adding new offers to keep up with the competition. A benefit of this expansion is the inclusion of unique bonuses like cashback offers to the list of welcome offers and ongoing player promotions you’ll find online.
From our research into insurance bonuses, we have personally handpicked the best cashback casino bonuses you can find today.
What is a Casino Cashback Bonus?
A cashback, or insurance bonus, refunds casino players a percentage of their losses over a specific period. The amount you receive depends on the losses you incur, the rate stated by the casino, and the maximum refund you can get.
For example, if you claim a bonus of 10% cashback for 24 hours and accrue losses up to $500, the casino will credit your account with $50 at the end of the day.
The insurance bonus is open to new and existing players, but existing players often have a chance to get a better insurance percentage through VIP programs.
The primary value of casino cashback is the ability to reduce your losses while extending your playtime. To enjoy these values, you must consider the cashback bonus terms and conditions: wagering requirements, minimum bet, maximum cashback amount, and restricted games.
Cashback Casino Bonus Types
You can find several insurance bonus types, with the following as the standard options on the best cashback casinos:
Cashback on Total Losses
The cashback on total losses returns a percentage of all your losses on the casino over a period. For instance, a casino may return 10% of your losses over seven days. So, if your total stake is $1,000 and you incur losses worth $600, your return will be $60 (10% of $600).
In calculating your return, the casino will consider your net losses regardless of the game type.
Cashback on a Specific Game
The cashback on a specific game offers a % return on the losses you incur while playing a particular game.
So, if a casino offers a 10% cashback on Gonzo’s Quest slot, you’ll only get a return on losses incurred while playing Gonzo’s Quest. In other words, any loss you incur playing table games, live games, or any other slot game won’t count toward your bonus returns.
Recurring Cashback Bonus
The recurring cashback bonuses encompass all cashback bonuses for existing players. I prefer this type of cashback bonus since they’re always available for as long as you’re a member of the online casino.
Different casinos offer one or more types of recurring cashback bonuses, and a few popular options are:
- Daily cashback
- Weekly cashback
- Monthly cashback
- VIP/Loyalty cashback
From the list of recurring cashback bonuses above, the VIP/Loyalty cashback usually has the potential for the best returns since your cashback rewards typically increase as you gain a higher loyalty level.
No Wagering Cashback Bonuses
Another exciting form of insurance bonus is the wager-free cashback bonus, which lets you receive a cashback bonus without meeting a wagering/playthrough requirement.
Despite the mouth-watering quality of this offer, you should note that many casinos will have other brutal conditions attached. Sometimes, this may be a high loss limit or a short bonus expiry.
Is a Deposit Match a form of Cashback Bonus?
A deposit match bonus doesn’t count as a cashback bonus since the amount you receive is a percentage of a specific deposit you make at the casino, not your losses.
Also, while the wagering requirement on a cashback bonus typically applies to only the cashback amount, it’s common to find deposit bonuses whose wagering requirement applies to the deposit plus match bonus.
Combining this wagering requirement condition with high deposit match percentages (can find 100%+), the amount you need to wager to claim a match deposit bonus winnings is often much higher than what you spend with the cashback bonuses.
How to Redeem a Casino Cashback Bonus
Many online casinos prefer to attach their cashback bonus to your account automatically, so you don’t have to worry about missing out on any lucrative offer. However, others allow you to manually opt-in for the bonus, which is an excellent option if you aren’t comfortable with the terms and conditions of cashback.
There are four ways to claim a cashback bonus manually, and the casino you choose will have one of these options:
- Through an exclusive sign-up link.
- Reaching out to the support team to activate the bonus.
- Claiming a no-code cashback from the promotions page.
- Using a cashback casino promo code.
$25 On The House + $1,000 Bonus
100% Match Bonus Up To $2,000
100% Match Bonus Up To $2,000
New Player $1,000 Bonus
New Player $1,000 Bonus
100% Match Up To$2,500
$1,000 Bonus On 1st Deposit
Cashback Casino Promo Codes
A promo code is a unique string formed by combining letters, numbers, or just letters. You can typically find bonus codes on review sites or other affiliates like GamblingPromoCodes, and activating the code rewards you with an exclusive offer that isn’t otherwise accessible at the casino.
Some online casinos may also lock their bonuses behind a promo code, especially if they have multiple offers, so players can claim an offer that appeals to them, and this is where the cashback promo codes come in.
Using a cashback promo code is straightforward, and you can take these steps to redeem a code on any cashback casino:
- Find a cashback promo code that meets your needs.
- Review the wagering requirement, game eligibility, and other bonus terms.
- You can find all the essential terms and conditions on our banners when using a promo code we provide.
- Input your cashback code in the bonus field that appears during registration.
- Online casinos mainly use bonus codes for welcome offers, but if you find an existing player promo code, a bonus field should be on the promotions page or cashier section.
- Start playing with your bonus.
Cashback Casino Bonus Rules & Restrictions
Online casinos aren’t charity organizations; they’re in the business of making profits. One standard method of protecting their profits when issuing bonuses is through rules, terms, and conditions.
These bonus rules also prevent players from abusing casino bonuses, and these are the main terms and conditions you’ll find on a cashback offer:
- Wagering requirement
- Game Eligibility
- Cashback percentage
- Maximum cashback
- Cashback offer period
- Minimum bet to qualify
Wagering Requirements
The wagering requirement on any casino bonus refers to the equivalent amount you must wager before your bonus winnings become available for withdrawal.
For example, if you claim a 10% cashback on total losses up to $1,000 with a 10x wagering requirement, a net loss of $500 will get you a $50 cashback bonus.
However, to meet the wagering requirement, you must place wagers worth $500 to be able to withdraw any winnings you earn from the cashback returns.
You should also note that meeting the wagering requirement has different meanings depending on the casino:
- Some casinos allow you to withdraw your winnings and the cashback bonus.
- Others allow you to withdraw only your winnings.
Cashback Percentage
The percentage of your losses the casino returns as your bonus amount is the cashback percentage. Usually, cashback casino bonuses can go as high as 25%, so don’t be on edge if you don’t find anything higher while searching.
Maximum Cashback
The maximum cashback is the highest amount you can receive as cashback from the casino. So, for a 5% cashback bonus up to $250, the maximum cashback you can get is $250 from net losses of $5,000.
However, with a 10% cashback up to $250, you can get the same amount with just $2,500 net losses.
You should also note that anything beyond the maximum amount isn’t returned to you as a bonus. So, in the case of the 10% offer, if you incur losses up to $4,000, you still get $250 as cashback and not $400.
How to Find the Best Casino Cashback Bonuses
When searching for the best casino cashback bonuses, we focus on offers with high rewards and reasonable risk.
If you’re considering finding a top cashback bonus with very low risk, you’re looking for the impossible, as no casino will grant this bonus.
To determine if a cashback has reasonable risks and high rewards, there are several factors to consider, but prioritizing the legality of the bonus is always crucial:
- Legality: Is the bonus available to all jurisdictions or a specific state? For example, BetRivers Casino offers a cashback welcome bonus to its US players in WV but offers deposit match welcome bonuses to players in other states. The same might be true across different countries, with online casinos customizing their bonuses based on demand.
- Terms and conditions: Going through the various Ts and Cs of the bonus will help you identify things like the game restrictions, wagering requirements, max bonus, and time limit of the offer.
- Minimum deposit: Refers to the lowest net loss you must incur to trigger the cashback.
- Bonus period/playstyle: If you play casino games often, a daily or weekly cashback is your best option, while a monthly cashback is more profitable if you’re an occasional visitor.
- License: Does the casino have a trustworthy license from the UK Gambling Commission, MGA, or other notable regulators?
- Use our guides: Since you’re already here, you can save even more time and stress by going through other guides we offer. Ultimately, any cashback casino we’ve listed is licensed and regulated, and provides promos with fair terms. Using our links is your safest bet.
Best Way to Use a Casino Cashback Bonus
The best way to use a casino cashback bonus is to combine various responsible gaming habits with a unique gaming strategy that you develop to guide your playstyle.
If you need some pointers in the right direction, we’re always happy to help with a few tips and tricks:
- Ask for a bonus if none is listed: Casinos can be generous with their bonuses, but sometimes, they don’t list their promotions on their sites. For such casinos, contacting the support team can help you access the best bonus offers, including cashback. Say you had a bad session, there is nothing wrong asking the agent politely for a small 10% recoup in the form of cashback.
- Pick cashback with low playthrough requirements and no game restrictions for the best profit-making chance.
- Always review the bonus rules and ensure you understand all requirements correctly before claiming a bonus. You can contact the support team for more information if you need clarification. It’s a shame missing a cashback bonus because you played on Monday instead of Tuesday.
- Ensure you have an adequate bankroll management system that prevents you from spending beyond your budget to claim the maximum cashback.
- Focus on slot games when trying to meet the wagering requirements since they usually have a higher contribution.
Is Cashback a Good Casino Bonus?
The casino cashback bonus is a great offer with pros that appeal to specific players and cons that make it less attractive to others.
| ✅Pros | ❌Cons |
|---|---|
| An excellent option for existing players since they’re often available as ongoing promotions | Cashback bonuses are usually calculated only on your losses |
| Great for high rollers (accruing losses up to $1,000 to earn $100 from a 10% cashback isn’t easy for a low roller) | Getting the maximum cashback often requires a high net loss |
| It helps minimize your losses on the casino and allows you to play longer | Not great for new players who want to try out a casino before making deposits |
| Potential for higher cashback percentage from VIP status/level on certain casinos | Cashback percentages are usually lower than other bonus types |
| They usually have reasonable wagering requirements |
The cashback bonus is a form of balanced compensation accessible by anyone regardless of their style of play. Nonetheless, VIP players have a better chance at higher cashback percentages, and high rollers can quickly get the max cashback amount, so it’s a wise choice to make a cashback comparison with other bonuses to find your best option:
- No deposit bonus: This bonus is available to you without needing a deposit and is an excellent option for new players who want to test the games and services of a specific casino before committing to the site.
- Deposit match bonus: An excellent option for veteran players with a decent budget, a great responsible gaming strategy, and knowledge of casino games.
- Free Spins: This slots-only bonus is excellent for any player who wants to try out a new slot game for free to determine if the payouts and gameplay are worth real money investments.
Similar Casino Bonuses
Unlike many other casino bonuses that require a forced deposit, a cashback bonus is a perfect bonus that rewards you for playing with your budgeted casino funds. The bonus acts as insurance that pays out a specific percentage of your losses over the period covered.
In terms of similar casino bonuses, a close alternative is the rakeback bonus that pays out a percentage of the house edge a casino has on a game. However, finding a rakeback bonus is much harder than getting a cashback bonus.
If you want even easier casino promotions to find and claim, then you should be on the lookout for any of these offers:
- No Deposit Casino Bonuses
- Deposit Match Bonuses
- Free spins offer
- Loyalty bonuses
- Referral bonuses
- Reload bonus
FAQs
How does a cashback bonus work?
The principle behind a cashback bonus is straightforward - for the total amount of losses you incur over a given period, the casino will refund a specific percentage as bonus money to your account. You can then use the bonus money to play games and gather winnings that become withdrawable upon meeting the wagering requirements.
What casinos offer cashback bonuses?
Some top casinos have a cashback bonus for players, and a few sites have a unique name for these bonuses. You can look at our list to find all the best casinos with cashback offers and the names under which they’re advertised.
Is a deposit necessary to claim a cashback offer?
Yes, you need to deposit to claim an insurance bonus. You must place wagers with your deposit and incur losses to get the cashback.
When can I withdraw winnings from a casino cashback?
The winnings from a casino cashback bonus become available after meeting the wagering requirements. You must meet the requirement before the bonus expiry date, so you must go through the terms and conditions before claiming the offer.
Are cashback bonuses legal?
Yes, online casino cashback bonuses are legal, so you can rest easy if this is the only offer you find on any casino you visit.
Despite the legality of the bonus, you still have to carefully assess cashback casinos for their license and reputation to avoid playing on rogue gambling sites.