Cashback bonus – How it works
Cashback is great for added security. You win some money, and you lose some money. When you lose, wouldn’t it be great to receive some of those hard-earned Canadian dollars back? Cashback or money-back are interchangeable terms. The most common name in Canada is cashback. Essentially, a cashback bonus is getting a portion of your losses paid back to you by the bookmaker. Cashback bonuses come in different shapes and forms but can be great for both recreational punters and professionals.
Bookmakers in Canada with cashback bonus
Cashback bonus has exploded in popularity in recent years, more and more Canadian bookmakers are offering this bonus. You may wonder why? It’s mainly to market themselves and reward loyal customers who stay betting with them.
Information about cashback in bookmakers
A cashback bonus has no risks tied to it. If you are offered one you should claim it. In the scenario of you losing money one week, you can get a % portion of that money back.
What is a cashback bonus?
A bookmaker cashback bonus is a promotion where you get a portion of your losses back if you lose. Normally, the cashback is paid out at the end of the week or at the end of the month. Typical cashback percentages range between 10-30%. Of course, the higher the percentage, the better. The cashback bonus is great for recreational players who may lose more often than not. It’s also good for more experienced punters. Everyone will run into some bad luck at some point and go on a losing streak. So cashback promotions are excellent for your bankroll to stay afloat.
The most common types of cashback bonuses in Canada
There is a lot of competition between Canadian bookmakers, and we regularly see cashback bonus offers. Cashback is a great way of doing so as it attracts new customers and keeps them betting in their sportsbook. The most common intervals for cashback payback in Canada is between 10-30%.
There are two types of cashback bonuses in Canada. One is more common than the other.
Cashback in bonus money
Getting paid in bonus money is the most common type of cashback. Bonus money is specific funds awarded to your account that cannot be immediately withdrawn. Typically, there is a wagering requirement tied to the amount. Where you need to play-through the amount before it’s turned into cash, you can read more about wagering requirements on this page.
Cashback in real money
This is the best form of cashback. The bookmaker will pay you out in real money that you can withdraw if you want to. It’s quite rare to see cashback in real money. Usually, it’s awarded to high rollers that the bookmaker considers to be very important players.
Cashback bonus FAQ
Summary
In three words: cashback is fantastic! If you see a cashback bonus available, opt-in. You won’t regret it. Getting some money back when you lost some bets is a great feeling and can help your bankroll stay alive and get a second chance. Be on the lookout for real money cashback bonuses as these are incredibly valuable.