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The Best Cashback Bonuses: Why We’ve Picked Them
Three of the cashback bonuses that we’ve recommended on this page stand out among the rest. Since we’ve rated them so highly, we’ll start off this article letting you know why these offers are the best of the best, according to The Casino Wizard’s team experience testing them.
1. Bets.io Casino Cashback Bonus: 20% Cashback on All Losses
Bets.io Casino offers a weekly cashback of up to 20% of all losses to all of its players, not only VIP program users. Both the accessibility and frequency of this bonus make it our top choice, coupled with the fact that it only comes with a wagering requirement of 3x the amount of bonus cash received.
2. Refuel Casino Cashback Bonus: 10% Real Money Cashback
Out of all the cashback bonuses that we’ve reviewed, this is our favorite offer with no wagering requirement. Refuel Casino doesn’t feature a welcome bonus, though; instead, the site offers this real money cashback offer to new players. You can instantly withdraw the money received with the Refuel Casino cashback bonus, which is why we rate it so highly.
3. Crazy Fox Casino Cashback Bonus: 20% Daily Cashback
The Crazy Fox cashback bonus allows you to recoup up to 20% of your losses on a daily basis. This is why, even if the bonus comes with a 40x wagering requirement, we think it’s one of the best cashback bonuses that we’ve reviewed.
What Are Cashback Bonuses?
Cashback bonuses are online casino rewards that let you recoup some of the money that you’ve lost in an online casino, be it as real cash that can be instantly withdrawn, or as bonus money that is tied to a wagering requirement.
Although these bonuses weren’t popular during the late 90s and early 2000s, they’ve gained a lot of prominence since the 2010s. Today, most online casinos offer some sort of cashback reward.
Main Types of Cashback Bonuses
Let’s take a look at the four main types of cashback bonuses, based on how popular they are in the iGaming world. We’re starting this list with the most popular type of cashback offer, based on our experience playing in over 300 online casinos.
VIP Program Cashback Bonuses
Most casinos have a VIP program, which is often level-based. Each level usually allows you to collect daily, weekly or monthly cashback offers based on your losses, regardless of how much you’ve spent over the period of activity of the offer.
Most of these casinos grant 5% or less to new players, while users that reach the latter VIP levels can access real money cashback offers of 20% or more.
Expenditure-dependent Cashback Bonuses
Cashback bonuses tied to expenditure provide you with bigger cashback percentages based on how much money you’ve spent, but they aren’t tied to your VIP level. For example, if you just signed up for a casino and decided to spend $1,000, you would have access to cashback bonuses of 20% or more.
cashback bonuses that we've tried
Welcome Cashback Bonuses
Some casinos, such as FortuneJack and Refuel Casino, give you the chance to get a real cashback on your first deposit losses if things don’t go your way. These bonuses let you take more gamblers when you first join an online casino, but they come at the expense of traditional welcome offers: you won’t be able to claim bonus cash or free spins on your first deposit.
Rakeback Bonuses
Rakeback rewards are a type of cashback bonus that lets you recover money that has been retained by the casino when you’ve made bets on qualifying games. These are very common in casinos with poker rooms, as casinos charge “rake” fees, which are service fees for providing poker games to their players.
As you gamble on the site, you’ll be given back some of these money via rakeback bonuses.
Real Money Cashback Bonuses vs. Cashback with Wagering Requirement
Online casinos have different bonus policies and terms, which means that their cashback offers vary greatly. In our experience, we’ve seen that cashback bonuses are usually given as the following:
- Real money cashback offers, which are added directly to your cash balance, which means you can withdraw them as soon as you receive them.
- Cashback bonuses with wagering requirements, which are added as bonus funds that need to have their rollover completed before they can be withdrawn.
These bonuses vary greatly from casino to casino. However, based on our experience testing these offers over the years, we can point out some key difference that are usually recurrent in the casinos that offer them.
Real money cashback | Cashback with wagering requirement |
Often given to VIP players only. | They are usually rewarded to all types of players, regardless of VIP status. |
Limited to up to 10% cashback on most casinos. | Cashback bonuses vary from 5% to up to 25% |
Can be spent on any game on the casino, be it virtual, live, or even sports-related. | Usually restricted to certain types of games. |
It may be given as part of welcome bonuses. | Usually provided as part of loyalty or expenditure-based reward. |
How We’ve Picked the Best Cashback Bonuses
We didn’t just randomly pick a few online casino cashback bonuses to recommend them to you. Over the years, we’ve tested many of these offers and rated them according to our team’s criteria.
We use specific criteria to determine how good a cashback bonus is, which differs from the criteria used to choose other types of bonuses. These are the items we consider:
- High-rated casinos: a bonus is only as good as the casino that offers it. You’ll notice that our top rate cashback bonuses are given by online casinos that our team has rated highly.
- Likelihood of withdrawal: we prefer recommending bonuses with none or low wagering requirements. However, if they do have a rollover, we take into consideration how easy it is to fulfill before we recommend the bonus.
- Fairness of qualification: to us, it’s important that most players can have access to cashback bonuses. The offers that we’ve selected to be atop our list are accessible by most players that join these casinos. We think it’s unfair to lock the best cashback rewards behind extremely deposits or bets.
What to Do with Cashback Bonuses after Claiming Them
Cashback bonuses give you more options on how to spend them than the average deposit bonus. In our experience, there are two main ways to make the best of cashback bonuses after your account is credited with one of them:
- If they have a wagering requirement, look for games in which to gamble the money. These bonuses often have the same rules as others, meaning that you’ll have to spend the money playing slots, scratch cards, keno, or other games with return rates of around 96%.
- Should the offer be fully wager free, decide whether you’d like to spend it playing in the casino or withdraw it. Our advice is that, if you’ve gone over budget, simply withdraw the money. However, if you’re still “on the green”, it may be worth to keep trying your luck.
Cashback Bonuses and Responsible Gambling
Cashback rewards seem like an ideal bonus to recommend to every sort of player. Still, even if they let you get your money back, you need to take into consideration key aspects of Responsible Gambling to ensure that you remain safe.
Before you claim any of these offers, we recommend you check out our Responsible Gambling tips. Besides them, you should take into consideration three aspects of Responsible Gambling with cashback bonuses:
- These bonuses may seem like additional assurances of recouping part of your budget, but you’re always losing money when you claim them. Casinos never offer cashback bonuses to winning players.
- Even if you’re playing with the idea of using a cashback bonus, remember to stay within your budget. Especially if the offer you’re looking for has a wagering requirement.
- Take advantage of Responsible Gambling tools offered by the casinos that give away these bonuses, such as deposit limits, loss limits, and reality check timers.
So, are Cashback Bonuses Worth It?
In our opinion, cashback bonuses are always worth claiming, even if they have a wagering requirement. In a sense, they’re like no deposit bonuses: they don’t put you in any sort of disadvantage. You will not only have the option to recoup the money that you’ve lost, but also use that money to test your luck again or even withdraw it directly to your bank account.
We recommend looking at the online casinos with the best cashback bonuses and evaluating their other features to determine which site suits your needs the best. Cashback bonuses are a great addition to an online casino’s arsenal of offers.
- The Best Cashback Bonuses: Why We’ve Picked Them
- What Are Cashback Bonuses?
- Main Types of Cashback Bonuses
- Real Money Cashback Bonuses vs. Cashback with Wagering Requirement
- How We’ve Picked the Best Cashback Bonuses
- What to Do with Cashback Bonuses after Claiming Them
- Cashback Bonuses and Responsible Gambling
- So, are Cashback Bonuses Worth It?
