Win or Lose, Get Money Back – Avoid the Top Mistakes Most People Make Using Cashback Bonuses
This guide discusses:
- What a cashback bonus is and why it exists
- The ultimate formula for selecting casinos
- The most common mistakes you should avoid
How Cashback Works and Why Casinos Offer Them
A cashback bonus is a special offer which many online casinos offer, even in the land-based casinos in New Jersey you might find cashback bonuses. With a cashback bonus, you can receive a small part of the money that you played with back.
There are many different options on how online casinos payout the cashback and also the requirements differ from business to business. Popular formats are the return of free spins/plays, extra cash when you make a new deposit, so-called top-up bonuses, direct cashback or point systems with different gifts and cash options.
It might seem counterintuitive that casinos are handing back the money you just played with, or sometimes even on top of your winnings! While this is to some extent true, when you start to think of casinos like any other regular business it makes a lot of sense.
Sure, in the short term the online casino loses some money but they offer cashback because they value their customers. You could compare it to customer loyalty cards that most supermarket chains offer. It is a win-win for both! The business gets returning and happy customers and you as a customer have more money in your bankroll.
The Best Bonus Selection Formula
When you start playing at a casino, one of the reasons is that you want to win some money and avoid losing it. Yet many people already lose money before they even start playing because they do not select the best bonus. If you follow the steps of our cashback bonus selection formula you will be sure not to leave any money on the table!
- Background check – Nowadays with so many casinos online and online casinos being a normal thing, a lot of people actually skip this step because they assume there will not be any problems. Do your own research here and check the reputation of an online casino, especially if it is a fairly new one.Check with the New Jersey and US authorities on the status of the company is available. Forums, review sites, blacklist sites, and customer reviews are all good sources to gather information from. And of course, be sure to check out our other online casino guides and reviews!
- Deposit, withdrawal, and support – After vetting the online casino and having made sure that the casino is a legitimate operation, the next step is checking out the service speed and quality. An online casino can be the greatest one out there but if withdrawal and deposit requirements, fees, and transactions times are bad it does not matter.Unfavorable payment methods not only can really take away from your experience but even from your bankroll because of higher fees! Besides the payment methods, reach out to their customer support to get a sense of their reply speed and how extensive their solutions are.
- Read the terms and the fine print – Another step that many people just skip over but might be the most important one. Fine print not only means the usual regulatory disclaimers but especially the terms on deposits, special deposit bonuses, and release of the acquired cashback bonuses. Online casinos can offer the most amazing cashback bonuses, but pay attention to the terms they come with.Cashback can be lost after a certain amount of time, released over a certain period of time, or even not be paid out at all if you stay below a certain amount of money wagered. Casinos really can get creative in limiting the actual amount of cash paid back and there is no end to their imagination and creative solutions. You might actually find out that the “smaller” bonus is better because there are fewer strings attached!
There are a few mistakes that players make when selecting and playing for cashback bonuses in online casinos. Luckily, these mistakes are usually easy to spot and avoid if you know what to pay attention to. If you skipped straight to this list, congrats, you want to avoid mistakes. I would actually recommend you still read our formula above, however. Because if followed correctly, it will prevent you from making a few of these mistakes.
- Playing time – This might seem counterintuitive at first sight but you can save yourself quite a bit of money with this one. Playing time can be important in two ways: playing too short or too long. When playing too short people rush in and expect the cashback to be ready, they withdraw their money only to find out the bonus is not there yet. Playing too long can also be bad since some casinos have the cashback only available for a limited period of time.
- Not reading terms – The last and most important step of our ultimate guide! Please, please do yourself and your money the favor by scanning the terms for a few minutes. You might find a few red flags in the terms and conditions or see that the requirements are nearly impossible to reach if you don’t want to turn into an online casino bot.
- Selecting too quickly – Yes, we get it, we want to just play too! You are reading this article, so you are already ahead of the cure. For the online casino selection, it is crucial not to just take up the first shine offer that pops up in your search engine. You might find some affiliate websites which offer even an extra amount of cashback through referral. Or better yet, check out some of the New Jersey online casinos. Besides getting your bonuses you will also help the local economy of New Jersey!
- Specific limits – There is nothing more painful than thinking you have complied with the bonus requirements only to find out they were limited with extra rules. Common pitfalls are minimum wager sizes, amount of plays made, or even specific games that need to be played. Casinos do this to promote a new game or feature, so make sure you spend your time and bets effectively!
Now that you are equipped with all the essential information to get the most out of your cashback bonuses it is time to go out there and apply. Have fun at the virtual tables, rake in that money and remember to play responsibly!
Why do casinos even offer cashback bonuses?When you actually look into business operations you will find out that online casinos are not the only ones offering cashback bonuses. Think of customer loyalty programs like air miles, membership cards of different stores, or discount programs. The great thing about the options that the casinos offer, is that the reward you are getting can go right back into you being able to play more! It is a win-win, the casino will have more customers and increase customer loyalty and you as the customer will have more playing money available. The only thing you need to think about is what type of cashback bonus you want and which online casinos offer you the best deals.
How can I get the biggest amount of cashback?This question is a little tough to answer because a lot of variables come into play when you are looking at the amount of cashback that you will receive. For starters, your playing style is very important. Are you playing high volumes and smaller bets or do you lean more towards a bigger betting size and placing them less frequently? The available types of cashback programs differ from casino to casino also. Some bonuses are focused on a certain percentage of the money you have wagered, which is useful for bigger bets. Other programs focus on the number of plays made, or even time spent at the online casino. One thing is usually true for all casinos though; if you stick with one casino you will get the most out of your bonuses.
Are there any requirements to get cashback bonuses?Yes, and those requirements should actually be the leading reason when you go on the lookout for the best available cashback bonus. While you may find an online casino that offers free spins, no strings attached, the value of those spins is insignificant. Also, check out our article on free spin bonuses here to find out more. If you want to get back an amount that you can actually use in your betting then there are different types of requirements you might need to fulfill. The most common requirement is a payback threshold. This simply means that you need to have wagered a certain amount of money on the virtual tables. Other requirements can be the number of plays made or even specific games or wagering rules per game.