Many online casinos offer their players attractive promotions and special offers. Some of the most common are cashbacks, deposit matching, and re-deposit bonuses. Despite the popularity of these offers, players may not always know what's on the table and what exactly they're getting.
It is for this reason that we have created this casino bonus guide: covering cashback, deposit matching, and re-deposit bonuses. Read on to get all the information you need so you can make the best decision about which ones are worth claiming.
What is the Cash Back Bonus?
The cashback bonus allows you to deposit a portion of your losses into your account. Here's an example of how it works: An online casino offers 25% cash back on losses that occur after you deposit. If you deposit $50 and lose $20, you would qualify for $5 (because 25% of 20 equals 5).
Cashback deposit bonuses have wagering requirements (also known as pass game requirements). Let's say you play at a casino that offers 20% cash back with 25x the wagering requirements. This means that if you deposit $100 and lose half, you will be eligible for a $10 cashback (20% multiplied by $50 = $10). However, you need to meet the 25x wagering requirement to get the cashback. 25 times $10 = $250, which is how much you need to bet before claiming your cash back.
Some casinos also require you to lose your entire deposit before claiming the cash back. Using the example above, you would need to lose $100 (to qualify for the $20 cash back) and then meet the wagering requirement of 25x.
Pros and Cons of Cash Back
Cashback is an attractive bonus because it gives you something to benefit from after you lose (which happens to even the best casino players). The main downside is that casinos often limit the amount of cashback you can get. However, if you know these limits, you can make sure you only deposit the amount that will earn you the maximum cashback, and not more than that.
What is a deposit matching bonus?
Deposit Match Bonuses are recurring promotions offered to new and existing players. They are different from cash back bonuses because they are based on the amount you deposit, not the amount you lose. In other words, when you deposit, you know how much bonus cash you are eligible for, unlike cash back bonuses, where you only know how much you'll get when you play and lose.
A typical deposit matching bonus goes something like this: 100% deposit matching bonus up to $500. If you deposit $200, you will be eligible for a $200 bonus. But if you deposit $600, you'll only be eligible for $500 because that's the cap.
Some deposit bonuses (usually offered to new players) are made over several deposits. For example, a casino might offer a 100% bonus on your first deposit (up to $500), a 50% bonus on your second deposit (up to $300), and a 3rd deposit Offering a 25% bonus (up to $200).
Regardless of the offer, deposit bonuses also have wagering requirements that must be noted before taking advantage of these bonuses. Knowing what the wagering requirements are will help you figure out how much you need to deposit to get the bonus. You may see additional requirements regarding maximum stakes, qualifying games, and minimum deposits in the relevant terms.
Pros and Cons of Deposit Matching Bonuses
The main attraction of the deposit match bonus is that when you make a deposit, you have the chance to get a lot of money (you need a deposit to play at the casino anyway). The main downside is that there are wagering requirements, which means you have to deposit a large sum of money to get the bonus cash.
What is a re-deposit bonus?
Re-deposit bonus is another popular type of casino bonus that rewards you once you have made a deposit. Essentially, a re-deposit bonus is any bonus a player can earn after using the initial welcome bonus. Re-deposit bonuses include:
- Deposit matching bonus
- Deposit Match + Spin Bonus
- Loyalty Points
- Cashback
Like cashback and deposit matching bonuses, re-deposit bonuses have wagering/pass game requirements that require you to deposit a certain amount of funds in order to qualify for the free money offered by the casino.
Advantages and disadvantages of redeposit bonus
The main attraction of re-deposit bonuses is that they reward returning players who have already used the welcome bonus. So if you're saving anyway, these re-deposit bonuses can help you earn even more. The downside is the same as the deposit matching bonus - if you don't meet the wagering requirements, you won't get anything. In some cases, wagering requirements can be very high.
Which casino bonus is the best: cashback, deposit matching, or re-deposit bonus?
The question of which type of online casino bonus is the best is highly individual and depends on several factors:
- Your funds
- Your personal preferences and playstyle
- Terms and conditions for each specific offer
Only you know your budget and can decide how much you're willing to spend. Before participating in any offers, it's important to set limits for yourself so you can do the math and make sure you don't overspend.
The terms and conditions of each offer are also a deciding factor in which offer is best to claim. Things to look at include cashback rates and limits, matching deposit rates and limits, wagering requirements, and game limits.
Being an informed player can go a long way to ensure you get the most worthy bonuses. Take your time and read the fine print so you can have the most enjoyable and rewarding casino experience.