Hey, my friend! How are you doing? Why don’t you sit down and I will share something with you. Today, I want to talk about the difference between cashback casino bonuses and rewards! Yep! Many people seem to get confused between these two!
Have you ever seen those ads where you get 100% bonus upon your first deposit? Is that a money back or a reward? If you do not know yet, then let me help you!
What Is a Cashback?
Cashback promotions refer to you making a deposit and losing the capital before you get some cool cash. Most of the time, you get between 5% and 10% of your net losses.
So, what is a net loss? If you deposited $10 and won $10, then now you got $20, right? Then you bet that again and lost all $20, your net loss is $10. But if your ending money is $5, your net loss is only $5.
So why is this important? Net loss is the basis of how much capital you will get as a cashback. 10% of $10 is $1, so the casino will give you $1 back.
When do the casinos give this? Most of the time, there is a weekly cut-off. Your net loss is calculated during this cut-off, and then you typically get paid three days after that. For casinos that do this weekly, the promotion is called constant cashback.
What Is a Reward?
Rewards are usually given to players who have achieved something, like being a VIP. What this means is that you have to spend more to get more rewards.
In some cases, the casino will offer 100% match-up bonus as a reward for registering. If you deposit $100, you will get a total of $200 as playing money, not $100.
But hey! This does not come without rules!
Almost all rewards for bonus money come with wagering requirements. What this means is that you have to meet some expectations from the T&Cs before you can cash out your winnings. Some casinos even have a maximum bet from the rewards you got to ensure that they do not lose a lot in case you win big!
In some instance, you will be rewarded with free spins after registration, or if you play specific slots. These free spins also come with terms of receipt, so you better read them before you avail them.
Free money is awesome, right? Cashbacks typically have no wagering requirements. You can withdraw the cash anytime you want, and if you win big with that cashback money reward, everything is yours! But again, you have to read the terms and conditions.
Win or lose, free money is great! Aaaarh! What I wouldn’t give to lay my hands on them!
So, just to wrap this up, my friend, cashback is the payment you receive after losing, and rewards are those you earn by playing or depositing!
Get that? Now try playing some games and check out which casinos offer the best cash back and rewards out there!