Best Cashback Bonuses in Canada 2024

What is a Cashback Bonus?

As the name suggests casino cashback bonus is a type of casino promotion that gives you back a percentage of your losses or deposits as real money or other types of bonuses. Canadian players have access to a wide range of online casinos, both domestic and international, that offer various bonuses and promotions.

The percentage and the amount vary depending on the casino and the offer, but usually ranges from 5% to 25% of your net losses or deposits over a certain period, such as a day, a week, or a month. The bonus money is typically credited to your account and can be used to play games, subject to certain terms like wagering requirements and time limits. It’s a way for casinos to give players a second chance to win and to keep them engaged with their platform.

Types of Cashback Casino Bonuses

Cashback casino bonuses come in many shapes and forms depending how you receive the bonus. Some of the common types are:

Regular Cashback to Existing Players

This bonus that is meant for existing users. This is usually a lower percentage and a lower amount of money back bonus that you can get daily, weekly, or monthly. However, regular bonuses for existing users may also have lower wagering requirements and fewer restrictions, as they are meant to be simple and convenient to encourage and facilitate regular play. In some cases, the casinos compensate an unlimited amount.

Live Casino Money Back Offer

Live casino offer is basically the same as the previous one. The main difference is that this promotion is only intended to be used at casinos’ live section games.

Cashback casino bonuses + free spins

This is also a regular bonus that is intended for existing players. Compared to the regular money back you will also get extra free spins but the percentage is lower as it is compensated by the free spins.

No Wagering Cashback Bonus

No wagering bonuses are the best type, as they give you the most value and the most freedom. However, no wagering bonuses are also the rarest type, as they are very generous and costly for the casino and usually not offered regularly.

VIP Money Back Bonus

To recognize and reward high rollers and frequent players casinos offer a higher percentage and a higher amount of cashback than otherwise. Further, VIP program bonuses may also have lower wagering requirements and fewer restrictions, as they are meant to reflect and respect the status and the preferences of VIP players.

Welcome Bonuses to New Players

These bonuses usually have a higher percentage and a higher amount of cashback than other types of bonuses, as they are meant to attract and reward new customers. However, money back as a welcome bonus may also have higher wagering requirements and more restrictions than other types of bonuses, as they are meant to prevent bonus abuse and fraud.

Choosing Between Cashback Bonuses

Choosing a casino can be tricky, as there are many factors to consider, here are some tips that will help you. Start with comparing different bonus offers and find the one that suits your budget, preferences, and playing style.

Opt for a higher percentage or amount of money, as they give you more value and more chances of winning. Choose a bonus that has the lowest wagering requirements or no wagering. These are only some of the tips and you can always use our reviews and lists to make your choice easier.

Choosing Between Cashback and Other Bonuses

Sometimes you need to choose between different types of bonuses. Compared to other casino bonuses are cashbacks more transparent and fairer, as they clearly state the percentage, the period, and the amount of money that will be refunded. Moreover, cashback bonus is more suitable for the Canadian gambling culture, which is more conservative and risk-averse than some other markets.

Canadian players tend to prefer playing with their own money, rather than with bonus money, and they appreciate the opportunity to recover some of their losses, rather than chasing bigger wins.

Claim Your Cashback Bonus Online Casino

To claim a money back bonus at an online casino, you have to follow these easy steps:

1. Find an online casino that accepts Canadian players and offers a cashback bonus. You can use our list “Top 10 Cashback Casino Offers in Canada 2024” as a reference.
2. Sign up and register at the chosen online casino.
3. Opt-in or claim the bonus offer. Some bonuses are automatically credited, while others require a bonus code or a manual activation.
4. Make a minimum deposit using one of the payment methods available or bet a minimum amount.
5. Play eligible games within the specified timeframe using your deposit or bet amount.
6. Receive your bonus cash amount at the end of the timeframe based on your net losses or deposits.
7. Withdraw your money or use it to play more games.

Terms and Conditions

The common terms and conditions for cashback bonuses at Canadian Online Casinos typically include:

• Percentage-Based Refund: Casinos usually offer a certain percentage of cashback, often ranging from 5% to 25%.
• Calculation Period: The money back is calculated over a specific period, such as daily, weekly, or monthly.
• Loss Threshold: Players must incur losses within the specified period to qualify for the bonus.
• Wagering Requirements: Some bonuses come with wagering requirements, meaning you’ll need to bet the bonus amount a certain number of times before withdrawing.
• Maximum Cashback: There may be a cap on the maximum amount you can receive as cashback.
• Minimum Losses: There’s often a minimum amount of loss required to be eligible for cashback.
• Game Restrictions: The bonus may only apply to certain games or types of bets.
• Time Limits: The cashback bonus may need to be used within a certain time frame after being credited to your account.

Calculate Cashback Value

Calculating the value of cashback bonuses is quite straightforward. Here’s the general formula you can use:

Value=Purchase Amount×Cashback Percentage

For example, if you have a bonus rate of 2% and you spend $250, the calculation would be:

Value=250×0.02=$5

So, you would receive $5 as your reward. Remember to convert the percentage into a decimal when doing the calculation (e.g., 2% becomes 0.02).

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