A cashback is a beneficial type of casino bonus. Basically, it’s a generous discount which returns a certain percentage of your losses right back into your account. Whatever you get back, you get in cash.

Often within gambling the common talk is about RTP% (Return To Player Percentage) and the house edge, which both indicate what chances of winning you stand at any given game.

But cashbacks are different, for as a blatant loss may normally discourage a player from fully enjoying their casino experience, a cashback is a consolation prize. It ensures no Canadian player walks away empty-handed.

Practically speaking, cashbacks have significant impact on your chances of winning as they make your money last far longer.

As we have stressed time and again, the main approaches to gambling online should be those of entertainment and recreation. Winning money should be a positive side-effect as the odds are always stacked against the players, however little. In this sense, a casino cashback is a mere extension for you to keep on enjoying yourself and your favourite online casino game.

Historically, cashbacks were given to high rollers only. But in this day and age, they’re handed out more liberally. Proportionally they are just as valuable to a small stakes low roller as they are for a big time casino whale.

Despite cashbacks being an absolute favourite of online slots players, any player of any casino game can wager this type of unique bonus at any game of their choosing. A cashback is your money to do whatever you please with.

Typically, a casino cashback has a total amount match or a percentage match for every sum used in a bet. This means that in order to claim your cashback certain criteria need to be met first, typically wagering your loss a certain amount of times before it can be fully redeemed. The number of times the cashback bonus needs to be wagered will differ entirely depending on the online casino and the size of the bonus. The larger the cashback, the higher the typical wagering requirements.

So what then is the difference between a welcome bonus and a cashback bonus? Whilst welcome bonuses support new players to try their luck, cashback bonuses are there for existing players to make their money last longer.

What To Think About Regarding Cashback

Always, always read the terms and conditions first. Cashback bonuses nearly always come with certain wagering requirements. It’s a rare thing that you can simply get your cashback reclaim without fulfilling certain pre-communicated criteria. This is for the online casinos to protect themselves from getting exploited. Hence, by reading the terms and conditions, you will know precisely what you may to expect from the casino and what the casino may expect from you.

How Cashback Works – Step By Step

The concept behind a cashback is generally not overly complicated. It can be rather neatly summarized by the following four steps.

1. Register and deposit at the online casino in question. In certain cases, especially in personal or limited promotions, you may need to enter a bonus code in order to active it.
2. Play the games of your choosing, for example slots, but please do ensure that the terms and conditions apply to that game.
3. Fulfil the wagering requirements. Typically, if you do not manage to win after having met the wagering criteria you will get your money or part of your money back.
4. The cashback bonus is paid out to your online casino account, either immediately upon qualifying, or within a certain limited period depending on the casino itself and the terms and conditions. Do ensure you withdraw the money prior to any possible expiration date.

Does Cashback Come With Downsides Or Risks?

Fundamentally, a cashback bonus is an online casino expenditure that benefits the players. Not only is it a gesture to make your money last longer, it is also a means of competition for the online casinos to attract customers.

The short answer to the headline question about downsides and risks is “it depends …”. Depending on the terms and conditions, some cashback bonuses are just as great as they first come across, whereas others may come at significant wagering requirements or other special rules. The best cashback bonuses are, in our opinion, the ones with none or low wagering requirements.

This again underlines the importance of reading up on the terms and conditions in advance, so that you can ensure you get the best cashback deals possible. And to help you along the way, we have put together an extensive list of the best cashback deals available in Canada in 2024, and what exactly they entail, so you can find the ideal ones for you.

However, as a whole, cashback bonuses are free money in your pocket. So as long as you are well familiar with the actual requirements, there are no known downsides or risks with cashbacks. For as a matter of fact, cashback bonuses tend to have lower wagering requirements than any other bonuses available.

The Best Casinos With Cashback

Different online casinos come with different flavours. Not all cashback casino bonus offers are the same. The following are the most common cashback casino alternatives in Canada in 2024.

• Free spins. This bonus is paid out in the shape of free slot machine spins. Such bonuses are, more often than not, either a promotion of a newly launched slot, or it’s a one-off reward to loyal players of that specific game.
• Existing player promotion. Many Canadian casinos run regular promotions on specific games. Be on the lookout for such promos.
• VIP bonus. VIP schemes are the strongest ones around as they tend to reward player loyalty. These bonuses tend to run over longer periods of time, thus adding more value to the players in question. In such instances, daily, weekly or even monthly net losses may be periodically repaid.
• Welcome package that includes a cashback bonus. Some of the most customer-oriented online casinos in Canada tend to include a refund offer together with any initial deposit. It is not uncommon that such cashback bonuses apply to both the first and second loss alike. This is to ensure you don’t run out of funds before reaching the terms and condition deadline. What makes VIP casino cashback schemes especially attractive is because the cashback percentage will increase the higher your VIP rank. Most of the time, the granting process for VIP cashbacks is all automated.

VIP Cashback

So what about those VIP schemes? They sound mighty enthralling, don’t they? So how then do you go about to get them?

As with everything else, this mainly comes down to the online casino. Some have higher bars than others. Generally speaking, though, a VIP incentive all comes down to your gambling style and needs. Some games are more likely to generate a good VIP refund cashback scheme than others. Regularity and loyalty are other factors that puts you in a good spot for a high-level VIP rank. If you are a loyal and returning customer already and you are not registered on a VIP scheme, it may be well within your own interest to sign up to one. Contact the online casino host or customer support for proper directions.

Good VS Bad Cashbacks

So what then constitutes a good versus a bad cashback? For surely, they cannot all be the same, can they?

Firstly, it’s of the essence to choose a serious and reliable online casino. For what good does it make if you’re promised the world, yet when push comes to shove you get nothing at all? If you stick to our casino recommendations, you’re on safe, dry land. And all of them are listed together with the best cashback bonuses in Canada.

So, once you’ve found yourself a tried and true online casino the following pointers all make for good cashback bonuses.

• Long validity. The more time, the stronger your chances of achieving it.
• Low wagering. Normally, you need to wager your bonus anywhere from 0-40 times. Practically, this means that if you want to claim C$200 back and there is a 2x wagering requirement, you’ll be able to claim it once you’ve bet a total of C$400. Do note that 0x wagering requirements are very rare. Those are typically for special promotions and capped at low amounts.
• High bonus amount. The more money, the better. Money talks.
• No game restrictions. The bonus applies whether you play slots, baccarat, game shows or any favourite game of yours. This is great as it enables you to play games with a high RTP. This significantly increases your chances of winning. However, as a rule of thumb, cashback bonuses do not apply to even money proposition bets such as red or black at roulette, blackjack or baccarat. Make sure to check the terms and conditions before.
• Unlimited cashback. Most cashback bonuses are capped at a specific amount. In some rare exceptions, though, the cashback is not capped, but rather unlimited.
• High bonus percent. The more you get back from your losses, the better. In some cases the player may get back 100% of their losses. This, however, typically applies to smaller amounts, or else the amount is capped.

Do note that most cashback bonuses are strong in one or two fields, but not the others. Few will be unrestricted. If it seems too good to be true, it’s probably not. In some rare instances, however, exceptional conditions apply, so it might pay to keep your eyes open. And if you are a high ranking VIP, you may be regularly treated to unparalleled cashback opportunities.

Most commonly a high percentage cashback bonus will be capped or within tight time limits. Or, in case the cashback offering is huge, it may come with a very high wagering. Under normal circumstances the best cashback bonuses are the ones that offer a high percentage and high or no limits to the claimed amounts. Those may truly be worth exploiting in full.

As we can tell from the list above, the reasonably ideal cashback bonus offering is a strong combination of at least three of the pointers. The rest comes down to your personal preferences as a high wagering may be of less importance to certain individuals if the bonus is uncapped and allowed at high RTP games such as baccarat.

Who Are We?

Who then are we, and why should you trust us? We have extensive experience from the casino industry, which we have put to use by testing and trialling every online casino around in Canada. If a new online casino emerges on the gambling scene, we are the first one to test it, try it, research it, check for its licenses, reputation, customer service and anything you could possibly think of. The list of casinos is long. What we have done for you is to narrow that list down to the top candidates depending on what you are looking for.

In this instance, if you look for the best online casino cashbacks in Canada in 2024, then we have identified the best online casinos for you to try. The same goes for anyone looking for the best welcome bonuses, the best customer support, the best payment options casinos, or anything else that may be of value to present-day gambler enthusiasts.

On that note we hope you will find precisely what you are looking for. It’s all here. And don’t forget that cashback bonuses in any form are free money in your pocket. Use it, and use it wisely.