Online casinos throw around different bonuses in a bid to get new players and to keep these players in the casino.
As you’ll know, there are different types of online casino bonuses (such as match bonuses, no deposit bonuses, free spins, free bets, and cashbacks). The online casinos work with these different types of bonuses in creating their sign up offers, reload offers, and VIP rewards. You may want to check this article for a detailed explanation of the different online casino bonuses and offers.
For the purpose of this post, the different online casino bonuses will be classified into two – bonus money and cashbacks.
What is Online Casino Bonus Money?
Bonus money is any free funds that you receive before playing online casino games. Thus, bonus money is offered via match bonuses, no deposit bonuses, free spins and free bets. If you claim any of these bonuses, bonus money will be added to your bonus account, and you can proceed to use the funds to play online casino games for free.
What is Online Casino Cashback?
On the other hand, cashback is free funds that you receive after playing online casino games. You’ll have to make a deposit, and play online casino games using the deposited funds; if you lose the funds, a percentage of the losses will be refunded to your account which you can later use for more gaming.
Bonus Money Vs Cashback?
The question is which of these should you go for if given the choice – bonus money or cashback? Should you opt to get bonus money up front, or should you wait to play with your real money and get cashback if you suffer losses?
First and foremost, when playing in a legit online casino, bonus offers are just the casino’s way of rewarding you for your patronage, so you should find value in either bonus money or cashbacks. You may want to check this article which explains how to tell if an online casino is legit. However, if it comes to making a choice between bonus money and cashback, it comes down to personal preference.
Who should go for Bonus Money?
1. Players who want an account boost
Bonus Money is right for online casino players who will want an account boost from time to time, especially when they fund their online casino accounts. That is people who will want to get something extra on top of the money they put into an online casino.
Consider the following bonus offers:
|Bonus Offer||Get 100% match bonus up to $50||Get 60 Free Spins worth $0.50 each (min deposit: $50)||Get $20 free cash to sit at blackjack tables (min deposit $50)|
|Bonus Type||Match Bonus||Free Spins||Free Bet|
You can easily see how $50 was deposited in each case, but the total account balance is boosted (to $100, $80, and $70 by claiming a match bonus, free spin, and free bet respectively). Know that bonus money does not come from only deposit bonuses (as in the example above). You can also claim bonus money from no deposit bonuses.
That said; if you’ll want to have extra money in your account, which amount to more credits to chase casino prizes, then you’ll want to opt for bonus money offers over cashback offers.
2. Players who want nothing of negative thinking
Bonus Money is also right for players who do not want to entertain the idea of losing. As explained, you only benefit from a cashback offer that you claim if you play using deposited funds and end up with a net loss. Thus, some players see cashback offers as already settling for a loss even before playing. If you are an online casino player that feels this way, you may want to opt for bonus money offers over cashback offers.
Who should go for cashback?
1. Players who want some insurance
Online casino cashback is right for players that want some sort of insurance against losing. Some online casino players do not realize it, and some that do realize it do not admit it; but the truth is that a wager placed in an online casino is more likely to be lost than it is to be won.
We’ll put it to you – in any online casino, you are very likely to have more losing hands than winning hands. The hope is that what you win in the few winning hands more than covers what is lost in the many losing hands, so that you can still turn a profit. However, most often than not, it is not the case; and players end up with net losses. Know that, if every player turns a profit, casinos will not be in business.
That said; to online casino players who accept that they could very well be in loss, nothing could be better than the opportunity to get back some of their losses.
2. Players who do not want the shackles of bonus conditions
Online casino cashback is also right for players who want casino free funds but without the many conditions that comes with bonus money. Yes, too many times, casino bonuses appear attractive but come with conditions that’ll make you better off staying clear off them. This article about avoiding getting caught in online casino bonus traps is insightful in this regard.
It is not that the cashback offers come free of conditions; but the conditions of cashback offers are usually more friendly than those of bonus money.
For example: while bonus money offers without wagering requirements are very rare, cashback offers without wagering requirements are very common. That is, when claiming bonus money, the bonus funds are credited to your bonus account, and you must roll it over a number of times before you can withdraw the fund and/or winnings obtained from using the funds. However, with “true” cashback offers, the free funds are credited straight to your real money account, such that the free funds and/or winnings obtained from using them are immediately withdrawable.
Note that, cashback offers often come with wagering requirement. These are more appropriately called “bonus-back”, because, like the regular bonuses, the free funds are credited to the bonus account, instead of straight to the real money account. However, wagering requirement attached to cashback offers are usually very low (far lower than wagering requirement attached to other bonus offers). For example, while a wagering requirement of “30x bonus amount” for a match bonus will be considered relatively low and very good, a wagering requirement of “10x bonus amount” for a cashback offer will be considered very high.
Should it be bonus money (from match bonus, free spins, etc) or cashback for you? That will depend on your personal preference.
Are you a player that always want an account boost (especially when you deposit), or are you a player that don’t like negative thinking (thinking of losing even before starting to play), then your camp will be with bonus money offers.
Are you a player that want some insurance against losing, or are you a player that hate the many stifling bonus conditions that hover over most casino bonuses, then your camp will be with the cashback offers.