Cashback
Cashback is a reward that returns a set share of your net losses over a period, such as a day or a week.
Also called cash back, loss rebate, lossback
With cashback, the casino adds up your bets and wins over a set period. If you finished behind, it pays back a percentage of the loss. It may be a standing feature, a one-off promotion or a VIP perk.
Example. A casino pays 10% weekly cashback. Over the week you staked 5,000 in total and got 4,800 back in wins, so your net loss is 200. Your cashback is 10% × 200 = 20. If you had finished the week ahead, you would get nothing.
What people get wrong. Cashback is paid on net losses, not on the amount you bet. That makes it different from rakeback, which is paid on every bet, win or lose. It also does not make losing safe. With 10% cashback you still carry 90% of every loss, and chasing a loss because some of it comes back is still chasing a loss.
Check three things in the terms:
- Is it paid as real money, or as bonus money with a wagering requirement?
- How is net loss worked out, and are bonus bets left out?
- Is there a cap, a minimum loss, or a deadline to claim it?
Related terms
- Rakeback
Rakeback is a reward that usually pays back a small part of the house edge on every bet you place, whether the bet wins or loses.
- VIP programme
A VIP programme is a casino loyalty scheme that moves players up levels and gives them bigger rewards the more they bet.
- Wagering requirement
A wagering requirement is the total amount you must bet, usually a multiple of the bonus, before bonus money and its winnings can be withdrawn.