Cashback is a gambling term that refers to the refund given to players after they place a losing bet. While the term can be heard in both land-based and online casinos, online casino operators typically use the cashback feature aimed at loyal betting customers.
The promotion benefits all bettors because no one in the world has days when he does not lose. It provides extra money to bet with and a slight boost to a bankroll that shrunk in size that day.
Whenever you place a wager and lose, a tiny portion will go into your “cashback account.” Depending on the casino’s policy, you can withdraw cashback money to your casino account at the end of the week or month and use it to continue playing. It is important to note that there are differences in the amount you will receive from the cashback feature. The percentage varies from casino to casino and also depends on the game you’re playing. For example, betting on blackjack will earn you more than video slots.
During the promotional period, Cashbacks can be used for any game available on the website but are normally intended for a specific sport, a championship/competition, or just one or a few games.
Types of Cashback
Below are the three most common types of Cashback:
- Cashback scenario: A cashback in which a specific scenario must occur/happen in the game for the stake to be returned. Conditions may differ from one promotion to the next.
- 100% Cashback: If you lose a bet, the total stake is refunded within the values established in the promotion conditions.
- Partial Cashback: In this type, Only a portion of the stake is refunded to the bettor. Normally the rate is given in percentage form, for example,” get back 50% or 20% of your stake.”
How Do I Get Sports Betting Cashback?
Obtaining sports betting Cashback is not considered easy, as most sites do not provide this type of promotion to anyone. However, a few sites offer it to their players and have had great success doing so. Most sites do not offer Cash Back because a player may be a winning player in general. By giving him Cashback on a losing day, he may become an even bigger winner, which most sports betting sites do not like.
When you find an online casino that offers sports betting Cashback, all you have to do is figure out which days they offer it and make those your primary betting days. It’s that simple; if you win, you are happy, and if you are unlucky and lose, you receive a portion of your losses back.
Can I get multiple Cashbacks during the promotion period?
Usually, one cannot benefit from multiple Cashbacks during the promotion period. However, this varies from promotion to promotion. Suppose it is stated in terms of the promotion that it can be activated on multiple bets. In that case, the Cashback can be used more than once for that specific promotion. One must choose a game from the available options and activate the Cashback for that game. If you win the bet, you will be paid in real money, and you will not be able to use the Cashback for another bet once you have used it for that game.
Conditions for accessing Cashback
Depending on the promotion and the online casino, the requirements for joining may vary. Here are the most common conditions on most sites:
- Minimum Odd: For this type of requirement, minimum odds are established for the bet. However, this can be consulted on the online casino’s promotions page. Take into account that the odds displayed on the site will not be the same as the final odds of the bet. The final odds of the bet are counted, so you must always confirm that the odds in the bet slip are equal to or greater than the minimum odds to participate in the promotion.
- Pre-match or Live: Cashbacks can be used for bets placed only in pre-match, live, or both, so consulting the promotion conditions is always essential.
- Minimum and maximum value: Promotions always have a minimum and maximum value to join them. You will not be able to take advantage of the Cashback if you place a bet for less than the minimum amount to participate. The maximum amount corresponds to the maximum amount of bonus money that can be returned. You may place bets with a value greater than the maximum value of the promotion; however, if the bet is lost, only the maximum amount indicated for Cashback will be returned.
- Deposit: In some scenarios, a deposit must be made. The deposit amount is usually indicated in the promo conditions.
- Bet Markets: In this case, Cashback is only available for specific markets at a time. For instance, anytime goalscorer. In this case, you must bet on the player you believe will score a goal, and if you lose the bet, you will receive the Cashback.
Where Is the Cashback Money Credited To?
Once the promotion is over, all cashback money earned from losses is credited to your betting account. In some cases, the bookmaker may require a few days before you receive your money, but it should be in your account shortly after. If you notice that the money is missing, you are advised to contact the site to see if it is hidden somewhere else or if they made a mistake.
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