In the world of online bingo, there are certain buzzwords that get players more excited than others. Cashback is certainly one of these key words that we love to see across a range of bingo platforms as the offer of cashback allows players to get good value for money or something back in return in the right circumstances.
Many bingo sites do offer cashback but a lot of our readers are unsure of what this actually means so we’ve put together a small guide to help you understand how to get the most from a cashback offer should you encounter one.
Online Bingo Cashback Offers and Bonuses
What is a Cashback Bingo Bonuses?
Essentially, bingo cashback is the offer of money or bonus funds to be returned to the player as a reward for spending a certain amount on a bingo site. You could argue that cashback is a clever marketing tool used by bingo operators to encourage players to remain loyal to a site but if you’re a regular contributor to a site then you can actually benefit from the offer of cashback.
In terms of percentages, it really does depend on the site that you are playing from. Some sites will offer a hierarchical system whereby you earn more cashback as your loyalty level rises on the site (1%, 2%, 3% etc). Some sites will offer as much as 5% in cashback whereas others will offer varying rates depending on the time that you choose to play on the site.
What is common on these sites is that cashback is most frequently offered to VIP players. In some cases, new players will be offered cashback to give them a taste of it and leave them wanting more. However, generally you will need to raise your VIP level up to a certain level before the offer of cashback becomes worth it for the player.
Types of Cashback Bingo Bonuses
There are, of course, different categories of cashback so we are going to explain some of them in a little more detail.
Specific Game Bonuses
Some cashback bonus offers are available for specific games. You quite often find that if a bingo or slots operator wants to promote a new game then they may offer as much as 10% cashback for players who wager a specific amount on said game. Often, the cashback is paid in bonus funds so be sure to read the T&Cs carefully.
VIP Cashback
We’ve already mentioned this one because it is the most common in terms of cashback bonus categories. Most bingo sites will offer a VIP package that allows you to “level up” or rise up the ranks and this usually involves spending a certain amount of money on the site. Every system is different but usually goes something like “Bronze, Silver, Gold, Platinum etc.)
Welcome Offer
With cashback bingo, occasionally, this can be offered to new players as part of the welcome bonus and many players like to debate whether this is more effective than a deposit bonus or matched deposit. It all depends on the quality of the site so be sure to weigh up the pros and cons if cashback is offered to you as a welcome offer.
Promotions
Sometimes the good old promotions list can contain a simple cashback offer. A lot of the sites that we have looked at that offer this will offer cashback on monthly basis. Generally, the most loyal of players will be able to take advantage of this offer due to their financial dedication to the site but yet again, the T&Cs will outline exactly what you have to spend to claim it.
Can You Get Real Money Back?
It is possible to claim real money back from these offers of cashback but in most cases, you will be offered bonus funds. These funds will then have to be wagered according to the site’s bonus policy before they will be eligible for withdrawal as real money.
However, with such a focus on wagering recently, many sites are beginning to revise their policy so we might see more real money cashback offers at some point in the future.
Are there Wagering Requirements or Caps?
Yes! There are always wagering rules and T&Cs for the vast majority of cashback offers and this can include caps on the amount of cash that you can claim back. Every network is different so yet again, it is a case of reading about these offers carefully so that you understand what you have to contribute before you are eligible for withdrawal.
Are these Offers Worth It?
Cashback can be useful for specific players but generally, you will have to have spent a lot on the site before these offers are worthwhile for you as a player. However, if you’re planning on picking a bingo site to play on for a while then picking a site based on the cashback offer is a good idea as you could benefit greatly in the long run.