Cash Back Online Casino BonusBy: Fabian Rictor, Wednesday May 20th 2009
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Online casinos offer bonuses to players so as to increase their competitive advantage. Some of the bonuses offered are welcome bonus, reload bonus, refer a friend bonus and cash back bonus. Of these the least common is the cash back bonus. This is because in the case of other bonuses the online casinos can expect further wagering as a requirement of the bonus. However the cash back bonus is based on past wagering and usually does not require any future commitment from the player, except for the play through requirements.
In simple terms the cash back bonus is a reimbursement of a percentage of the losses incurred by the player over a specified period of time. There is usually a cap on the amount of losses that are reimbursed. The most common way of specifying the bonus is as follows. The cash back bonus is X% of the losses incurred by the player over period Y, subject to a limit of $Z. In most online casinos X would be around 10 to 15%. However there is no hard and fast rule on this. Y could be a day, a week or a month. Z is the cap on the bonus and varies from online casino to online casino. The philosophy is very simple. Players who have made money will any way be happy. It is the players who have lost money that need cheering up. The cash back bonus is a mechanism for doing this.
Some online casinos offer the cash back bonus as a regular feature. Suppose the period specified is a week then at the end of the week if the player has lost money at the casino he is reimbursed the specified percentage of his losses or the maximum on the bonus, whichever is lower. Other online casinos offer the cash back bonus as a regular feature but limit the period of the losses. For example they may apply the cash back bonus to losses made on a specified day of the week. Yet other online casinos offer this bonus only as a part of special promotions. There is another ingenious manner in which online casinos use the cash back bonus. They limit the bonus to losses made on a certain specified games only. Usually these are games like keno or online slots that have higher house edges. The cash back bonus on these games somewhat compensates for the higher house edges and draws players to these games.
Most online casinos do not offer cash back bonuses to all the players. The offer is made to the higher wagerers through the VIP Club programs. The players in the lower tiers of the VIP Clubs of online casinos do not get cash back bonuses. As players reach higher wagering levels they are given more benefits, one of which is the cash back bonus. In some online casinos there are a large number of VIP levels and further differentiation is made using the cash back bonus. As players move to higher levels the percentage of the cash back bonus is increased or the maximum limit of the cash back bonus is increased.
Sometimes when an online casino is in a really festive mood it offers cash back on wins as well. A player is given a percent of his winnings over a specified period as a cash back bonus. This is a bonus in the real sense.
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