Cashback in Gambling – Explanation For Dummies
Posted: February 17, 2020
Updated: February 27, 2020
Cashback meaning in gambling is a simple money rebate phenomenon which can save you varying amounts of money. Many casinos and online sportsbook sites offer cashback in promotional offers. The offers often have certain conditions that are a requirement and if they are met, you can get a certain portion of your money back. We will have cashback in gambling explained through this article and teach you some tricks of the trade.
Cashback is currently in use by a vast number of websites that present you with a reward upon using their affiliate links. The percentage of money varies and is mostly the amount left after the website deducts its own bonus. There are multiple ways these cashback websites function. Let’s take a look at a few of them.
How does cashback work?
Cashback site’s purpose is to allow users, especially new users, to open accounts for the gambling websites through them. For this very purpose, gambling websites use these sites as finder websites. This can redirect the traffic to the gambling websites that are in a contract with them.
The users signing up for these websites become new customers for gambling websites. These websites offer a commission to the cashback websites for successfully increasing customers. In return, these cashback websites offer the users a percentage of the commission which they earn due to them.
All in all, this is a win for each party involved. The cashback sites present these perks due to being the ‘middle person’ in this matter.
Cashback in gambling
Now that we know what cashback is, we can try to understand in detail how cashback in the gambling industry actually works. The theory is pretty much the same. However, cashback in gambling might require conditions to be met precisely in order for a refund.
First of all, cashback is a completely legitimate way of dealing with money and has no sanction as an attachment. Progressing further, gambling has different types of cashback. Here are the most common and important ones:
Welcome bonuses are typical in enticing potential customers to join. Online gambling sites in the UK are mostly offering cashback as much as or more than the first deposit. For instance, if the offer suggests a cashback of 200% on a maximum of £400. This means if the first deposit is £300 then you would receive a cashback of £600. On the contrary, the bonus limits at £400 so if you deposit more the cashback will not increase than 200% of £400.
Bet loss cashback
Unibet sportsbook is offering a bonus that combines more than one type of cashback. Along with welcoming bonus, they are offering a bet loss cashback. Typically this sort of bonus renders you a little less heartbroken after losing a bet. The gambling website offers to pay you back a certain percentage of the money you bet. Taking into example Unibet’s welcome offer. Currently, they are offering cashback up to £40 if you lose your first bet. And on top of this, they give a £10 casino bonus on a minimum deposit of £10.
Total bets cashback
Often times, online sportsbook sites in the UK are offering cashback on total bets. The good thing about these bets is that it does not matter if you lose or win, what matters in how many bets you make. So in order to get some of the credit back which you spend, all you have to do is wager a specific number of bets that can do the trick. For instance, cashback can be in regard to a specific game. If you wager enough on that specific game, you can win a certain percentage of your total amount.
Conditions on cashback offers
As wonderful as getting money sounds on there are some requirements one has to complete beforehand. These requirements are always specified in terms and conditions and one must always look them up before betting. Considering Unibet’s welcome offer, there are terms and conditions that are to be met in order to avail cashback.
For instance, the conditions of the offer read as follows:
- New customers only
- Only persons at the age of 18 or above can gamble
- Minimum deposit should be £10
- Cashback will be in the form of bonus and you can not withdraw bonus money unless the bonus is complete
- The bonus will expire after 7 days
Promotions and cashback
Many cashback offers are in the form of promotions. Promotions are the way to invite either potential customers or old customers who have been not active. These promotions are a culmination of bonus rewards and cashback. Sometimes, the reward is not even money, instead, it is an iPhone 11 Pro or a trip to the Maldives. However, cashback always works in the form of money, since the amount is not enough to offer such expensive prizes.
The promotions also have a set of conditions that determine whether the person can win or not. Unibet offers cashback promotional offers frequently and the winners most commonly receive the money in time.
Cashback is a rather risk-free way to get back some of your wagering money. All one needs to do is read the conditions and sign up to websites or through a partner website that offers cashback.