Top Casinos Cashback Bonuses in 2022

If you’re the kind of player that wants to get something back as you play, a cashback bonus is a great option. Simple to claim and given if you find yourself on a losing streak, cashback bonuses offer a way to receive something back from the amount you wager. In this guide, we list the latest and best casino cashback bonuses ranked and reviewed. You can also find tips about making the most out of cashback bonuses and instructions to get started.

Overview

A cashback bonus certainly takes a unique place in the sea of various casino bonuses. Unlike most other offers Canadian players can find out there, this type of bonus is only given after the fact, i.e., once you've played and lost some money with an online casino. Although these offers may not be to everybody's liking, they are out there, and it is good to get informed about their positive and negative sides.

As the name suggests, a cashback bonus is an offer that gives players some cash back. Of course, to get something back, you first need to stake something, so these offers are usually contingent on you making depositing and playing for a while. But, again, although they might not be everybody's cup of tea, cashback bonuses can sometimes be pretty helpful.

Cashback Bonus Essentials

Most experienced players have had a chance to at least see some cashback offers out there, and many have even experienced it firsthand by claiming a cashback bonus at their favourite online casinos. However, new players from Canada always seek information, and we try to provide such information. As for the existing, more experienced players, refreshing your memory on some details can only be good.

So, in a nutshell, a cashback bonus is a type of bonus calculated based on the player's losses during a particular timeframe or for a specific deposit. Some examples of standard cashback offers can look something like this:

  • Deposit at least C$200 & get 100% of your losses back up to C$50.
  • Get back 5% up to C$100 on all your losses during the weekend.
  • 25% of your losses back up to C$50 when you play specific slots.

What's common to all these cashback bonuses is that players need to deposit and play first, and the bonuses are only issued after the fact. Additionally, you need to lose to get a bonus, as you can't receive any cashback if you keep winning.

The pre assumption that you will lose money may not sit well with some players, as having an offer contingent upon you losing isn't the most encouraging thing in the world. On the other hand, however, you can look at these cashback offers as a safety net of sorts. If you do get lucky and win, you don't care about the small bonus in any case. If you do lose (which is simply a reality of most online casino sessions), you'll get some of your money back to try again or cut your losses.

Cashback Bonuses Terms & Wagering Requirements

So, we can see that there is no reason for players not to like cashback bonuses. They are simply a lifeline you can get if things go south and you bust your deposit. At that point, any extra money is welcome as it can only be a good thing to try your luck a bit more for free or withdraw the extra money (if you can) and make the effective loss smaller.

Wagering requirements are always a big thing with all casino bonuses, and it is good to know what to expect from various cashback offers in this department. The good news is that most casinos are much more lenient regarding cashback bonuses' wagering requirements. Since players already have to put in a decent amount of play to qualify in the first place, there is no reason to complicate things with significant wagering further.

Often, Canadian players will be allowed to withdraw their cashback bonus money once they wager it. On a rare occasion, the casino might enable players to cash out funds immediately, without further restrictions or complications.

But even when wagering requirements are involved, they are usually much lower than what you'd get with a regular welcome or reload bonus. A cashback offer will often feature wagering close to 10x the bonus, which is more than attainable. So, from the pure value point of view, these cashback offers are player-friendly and worth taking.

Qualifying for a Cashback Bonus

As mentioned a few times in this text, qualifying for a cashback bonus will almost always require a deposit on the player's part. While this is true for most bonuses, the most significant difference is, as already described, that this particular type of bonus requires a certain amount of play before being issued and is directly connected to the amount of play a player puts in on the casino.

Of course, you'll need to find an actual cashback offer to take advantage of as most casinos don't offer a cashback option on all deposits. Various available options can include:

  • Weekend cashback bonuses
  • A happy hour cashback
  • Cashback offers for a particular game
  • VIP cashback bonuses based on specific requirements

There are different ways to get your cashback bonus, especially at leading online casinos in Canada, which often have firm promotions departments. These offers all work similarly in terms of returns but are structured differently.

For example, casinos love issuing weekend cashback, primarily because weekends are, traditionally, the busiest times for online gambling sites. So, to get players to play on their casino and not another site, they'll often offer a cashback bonus on all play during the weekend. These can represent a nice safety net for someone who's already planning to play as it is.

Happy hour cashback bonuses are another typical offer found across various casinos. These are issued for play in a specific time slot during the day, for example, between 18:00 and 19:00 hours. With these, players can get back a percentage of their losses incurred during that particular period, which is a clear incentive to play during that time.

Cashback offers are also a reliable way to get players interested in trying a new game. For example, when a new slot is released, a casino might offer cashback on the first few hundred spins, so players can give the game a try knowing that if they happen to lose money, they'll get some of those losses back. These offers are exciting because they effectively increase the RTP of the slot for the duration of the cashback, which might even make them slightly profitable to play.

Understanding VIP Cashback Bonuses

Apart from standard cashback offers that may be available to all players, casinos also tend to offer special bonuses of this type to their VIP players. Often, these aren't your traditional bonuses as they represent more of a long-term offer that players can take advantage of time and time again. Usually, players need to reach a certain VIP threshold to qualify for these.

To clarify, most Canadian online casinos offer a VIP scheme of some kind or another. As players move up the ladder, they get access to better perks and promotions. Sometimes, these perks include special cashback offers that apply to their entire play on the casino.

A casino might offer their VIP players a 5% cash back on up to a certain amount of money. Of course, the amount can vary depending on the VIP level and the particular casino, but with these programs, high stakes players can often expect to receive a few hundred back at the start of each week.

These types of cashback bonuses often come with very low wagering requirements or no wagering attached to them at all. Thus, VIP players are treated right, and they feel like they're at least getting something back for their loyalty and all the play they put in with a particular casino. Once again, qualifying for these types of cashback usually requires a decent amount of play, although it doesn't always have to be the case.

Cashback Offers Instead of Welcome Bonuses

Online casinos realize that different players have different expectations and requirements. Therefore, they try to tailor their offers to these needs and expectations from the first moment a player joins their casino.

A growing number of Canadian casinos give players a choice between a standard welcome bonus, i.e. some cash upfront matching a player's deposit, or a cash back bonus that represents a continuous return on play for as long as the player continues playing on the site.

These are pretty similar to VIP cashback offers, although percentages and maximum returns can be slightly lower. In essence, instead of taking a 100% bonus up to C$200, for example, you can opt for a 5% weekly cashback on all your losses up to a certain amount (C$100 or more in most cases).

The choice here is really up to the player. A traditional welcome bonus is a better option for someone who only plays occasionally and wants an immediate boost to their bankroll to give themselves a better shot at winning in a particular session. However, a cashback bonus is a better choice for players planning to play often at a specific online casino as it will return much more money in the long run.

Finding & Claiming Best Cashback Bonuses

Like everything else related to online gambling, we try to provide players with information about the best and latest cashback offers available to players from Canada. With many online casinos you can choose from, there is undoubtedly a significant number of different offers up for grabs, so we try to highlight the best ones that stand to give back the most cash to the players.

However, it is virtually impossible to keep up with dozens, if not hundreds, of online casinos out there. Sometimes, some bonuses slip under the radar or aren't adequately advertised by the site, so it is possible to miss out on some friendly offers along the way.

So, it is always a good practice to make sure you check your email inbox for any new offers coming your way from the casinos you play at. Likewise, most operators are diligent in ensuring their existing players are aware of their latest promotions, even if they don't do a great job publicly advertising them.

It is also worth checking the promotions section of the casino sites you play at now and again; This is especially true for cashback bonuses as these offers tend to be time-limited. So, if you're planning to play on the weekend, for example, take a few minutes to check out those casinos you frequent and see if they have some special cashback promotion going on. You'll often find some cashback bonus you can claim, which increases your account balance and gives you more time to play and enjoy, whichever way you look at it.

In the end, the trend of cashback bonuses is undoubtedly on the rise, with more and more Canadian casinos coming up with these types of offers for their players. Given very low wagering requirements and lax restrictions usually attached to these bonuses, they're almost always worth taking, so try to get yourself a cashback as often as you can.

Pros & Cons

Pros
Returns on your deposit and wager
Often has no wagering requirements
Easy to claim and enjoy
Cons
Bonuses are capped
Not all casinos offer cashback bonuses

Getting Started

Enjoying a cashback bonus is easy and rewarding. To get started with one of these special offers, follow the steps below.

1 Choose the right casino

Many online casinos don’t offer cashback bonuses as they don’t want to reward players for losing. Please take a look at our list of recommended online casinos and find one with cashback bonuses up for grabs.

2 Claim a cashback bonus

Claiming a cashback bonus is easy. Opt-in for the offer and start playing. If the cashback bonus is tied to wagering on a specific casino game, then be sure to follow the instructions, or you’ll miss out.

3 Don’t skip the T&Cs

Make sure that you fully understand the terms and conditions before claiming a cashback bonus. There can be several restrictions, including the games you play, the amount you need to deposit, and how long you have to place your wagers before the offer expires.

Bonus Variations

While cashback bonuses are relatively straightforward, how they are claimed can differ depending on the type of cashback bonus on offer. Here are the most common forms of this bonus available at online casinos.

Time Frequency-based Cashback Bonuses

These bonuses are timed to a specific timeframe. The timeframe limitation means that before you claim your cashback bonus, you’ll need to complete wagers within a particular time, for example, over a weekend. As a result, any losses you incur over the weekend will determine how much cashback you receive when the bonus period ends.

Percentage Based Cashback Bonuses

This variation of the cashback bonus is based purely on how much you lose. Usually tied to a specific game, the amount you receive will be a percentage (often between 10% and 20%) of what you’ve lost while playing.

Event or Game Orientated Cashback Bonus

The game-oriented cashback bonus is tied to a specific event or game; this cashback bonus is all about betting as much as you can while enjoying the game stipulated. As a result, your cashback reward will adjust accordingly depending on the losses you incur while playing the game or betting on the event.

What are Wagering Requirements?

Wagering requirements are also known as playthrough requirements. WR are part of the terms and conditions for a no deposit bonus. Wagering requirements are multiplier rules associated with the promotion. It indicates precisely how many times Players must rollover the bonus before they can withdraw any funds.

How to Calculate the Wagering Requirement

A $20 no deposit bonus subject to a 30X wagering requirement means that players must wager their bonus amount a total of 30 X ($600 in bets) before cashing out any payouts. Any attempt to withdraw without meeting the playthrough requirement will invalidate the bonus + payouts in the account.

What portion of the offer is subject to wagering requirements?

The portion of the offer that is subjected to wagering requirements is usually indicated in the bonus terms and conditions. Wagering requirements can be applied to both deposit match bonuses and free spins bonuses, and in some cases, wagering requirements may also be applied to your deposit amount.

Tips

It’s always a good idea to play smart when using a cashback bonus to your advantage. So here are a few tips you should put to good use when using one of these special offers.

Cashback VS Deposit Bonus

You may be wondering if cashback bonuses are worth claiming and how they differ from regular deposit bonuses. Here are a few of the differences to consider.

Cashback Bonus Deposit Bonus
Rewards for losing Only deposits are boosted
No wagering requirements on cash received Set of wagering requirements applied
They are often tied to particular games or times No stipulation of where players can spend deposits

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FAQ

A cashback bonus is a particular type of bonus that the casino issues after the fact, i.e. after a player is done playing, a casino will give them a certain percentage of their losses back if they happen to lose.

The main advantages from the player's point of view are low or non-existing wagering requirements usually attached to these bonuses, making them much more valuable.

There are different types of cashback offers out there, so you'll need to read the exact terms and conditions of a particular bonus to know what is required to qualify. Sometimes, these bonuses are time-limited or restricted to a specific game.

The answer here depends on your playing habits. A welcome bonus is better suited for players who play infrequently. On the other hand, if you happen to play a lot at a particular casino, a long-term cashback offer will give you more money back.

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