Best Casino Cashback Bonus in Canada

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You can use a casino cashback bonus if you’re having difficulty winning money on your favourite slot or table game. Cashback bonuses are just as they sound; the casino offers you a percentage of your wager back if you’ve lost a lot of money while gambling. This offer is very generous to both low and high-rollers looking to recoup losses and win decent amounts.

The team of experts at CasinoGrizzly has put in the hard work and found the best cashback casino bonuses with the fairest terms. We’ve also put together this guide on how to use cashback bonuses, understand the terms, and what you need to look for in this bonus offer. Let’s get right to it!

Best Casino Cashback Bonuses in December 2022

What is a Cashback Casino Bonus?

A cashback casino bonus is an incentive that offers players real cash or casino credits over a specific duration of time or for use in a particular game. The bonus essentially refunds a percentage of or all of your losses at a casino.

Cashback bonuses come in many forms but usually range from 10% to 30% of your losses. However, some casinos offer up to 50% return on losses on your first bet as a new player.

Cashback bonuses differ from one casino to the other. Some casinos are more generous, offering higher percentage values and higher limits on the cashback bonus. Others will limit your cashback to only losses on a particular game type: slots, blackjack, roulette, baccarat, poker, or even live dealer games. When claiming a casino cashback bonus, you must read through the terms and conditions of the offer before claiming it.

Minimize losses with Cashback

Since most casino games are chance-based, losses are bound to happen even on your first bet. This can discourage players, especially if you lose out big time on a single gaming session.

Cashback bonuses act as a safety net, helping you recover your losses without placing additional bets and the lack of wagering requirements on these bonuses makes them even more attractive. You can cash out your winnings right after using the bonus without making an additional deposit.

Top 5 Cashback Bonus Offers

Are you looking for the best casinos with the most lucrative cashback bonus offers? Below are the top 5 options to consider when getting started.

Rank Casino Cashback Offer type Wagering Max bonus amount
#1 Barz 50% Sign-up No wagering C$425
#2 Vegas Lounge 50% Sign-up No wagering C$400
#3 Goslot Casino 11% weekly Lifetime 1xB N/A
#4 Paradise Casino Up to 11% weekly Lifetime 1xB C$1000
#5 Skycrown Casino 10% weekly Lifetime No wagering 1000 USDT

How Does a Cashback Casino Bonus Work?

Cashback bonuses help players to recoup losses by offering them back a percentage of losses or a single lost bet. There is usually a capped maximum amount that players can receive. For example, there could be a cashback bonus of 20% up to $100. In this case, $100 is the maximum amount you can receive, regardless of how much you’ve lost. If you get a 20% cashback bonus up to $100 and lose over $1,000 within the period, usually, you can claim up to $200 back. However, the max limit of $100 will be applied, meaning you’ll only receive that amount in your casino account.

Cashback offers are often time-constricted, and you can receive these bonuses daily, weekly, or monthly. This means you may receive a refund on your losses within 24 hours or throughout the week and for that particular month. For example, you could be offered a daily cashback of up to $100. If you’ve lost $50 that day, you will get the $50 back in your account for the next day. However, if you’ve lost $250 during 24 hours, you will only receive $100 back.

The cashback offer could also be specific to losses on a particular game. This means you may only receive cashback credit, bonus money, or free spins on a specific slot, table game, or live dealer game. If this type of cashback is on offer, the casino will state the game you can use the bonus with, and you can find this information in the terms and conditions.

Knowing the cashback bonus’ terms and conditions is very important in ensuring you enjoy the full benefits of the bonus. This is why you should always read through the terms of the offer before claiming the bonus.

Do Cashback Bonuses have Wagering Requirements?

Wagering requirements are the bane of online casino bonuses. This rule requires you to bet the value of the bonus or your winnings several times before you can cash out your winnings. For a $20 bonus with a 30x wagering requirement, you’d have to bet $600 on casino games before claiming any winnings from the bonus, which can be frustrating for online players.

Unlike regular bonuses, most cashback offers are free from wagering requirements. Once you receive the funds in your account, you can use the money to play casino games and withdraw your winnings immediately. The best cashback casinos do not attach any wagering requirements to their cashback offers, but some do. Fortunately, in such cases, the playthrough requirements are usually low, such as 1x or 2x.

Expiration date of Casino Cashback Bonuses

Cashback bonuses don’t last forever, and like every other bonus offer, they come with an expiration date or validity period. The validity period of the bonus is often 60 days from the time you receive it. Always read through the terms and conditions of the bonus to find out the expiration date so that you can use up the bonus offer before then.

Limits to a Cashback Bonus

Cashback bonuses don’t cover your total losses for the week or month, and there are limits to the offer that determine just how much you can receive. Cashback bonuses only pay back a fixed percentage of losses, usually 10% or 20%.

The size of the loss determines how much you could receive. For example, a cashback of 20% on a weekly loss of $100 will only pay you $20 in bonus funds. Moreover, a cashback offer could have a maximum amount of $100 per week. To put this in context, if you lost $3,000 over the week and received 20% as cashback, you should receive $600. However, if the maximum cashback amount is $100, you will only receive $100.

Bonus Code

Most cashback bonuses are automatically added to your player balance when you opt-in to the bonus offer. However, some online casinos could provide cashback bonus codes that you must enter when claiming the bonus.

If there is a bonus code, it will be clearly stated in the terms and conditions of the bonus, which is why you should always read through the terms and conditions of any bonus offer before claiming it. Check if there is a bonus code and enter the code into the space provided to claim the cashback bonus offer.

Read the Terms and Conditions

Every bonus offered by online casinos comes with terms and conditions, and cashback bonuses are no different. The terms and conditions of a cashback bonus are easily the most essential information about the bonus. The terms and conditions are rules that determine how you can use the bonus.

These rules spell out the maximum win limit on the cashback bonus, the validity of the bonus, and what games you can play. Reading the terms and conditions of the cashback bonus before claiming it could help you determine if the bonus offer is worth your time.

Types of Cashback Bonuses

Cashback bonuses can be daily, weekly, or monthly offers and could be a part of other bonus packages. Below, we’ve listed the most common types of cashback bonuses you can find at online casinos.

Welcome packages

Welcome packages targeted at new players are one of the most exciting cashback offers you will find at online casinos. Cashback bonuses that form a part of the welcome package will give players a percentage of their bet amount if it turns out to be a loss.

At some online casinos, the cashback offer could be as high as 100% of the lost bet amount. For example, if you make a bet of $50 as your first bet on your new player account, you could be offered 100% of that bet amount if the bet turns out to be a loss. Bonuses that are part of the welcome bonus are only limited to the first bet you make at the casino.

Cashback Promotions for existing users

Promotions for existing customers are the main cashback deals you can find at online casinos. This is one of the marketing strategies used by casino sites to encourage players to continue betting. Cashback bonuses for regular players could be a daily refund of a certain percentage of your losses on a specific game.

When you receive cashback bonus offers, it is essential to look at the offer’s terms and conditions. This should prevent any unexpected outcomes when using the bonus.

Cashback free spins

Cashback bonuses usually offer casino credits or real cash. However, it is not uncommon to find a casino that offers free spins as its cashback bonus. Cashback with free spins is usually offered for use on a particular slot. For example, you could receive several free spins on a specific slot you’ve played and lost money on.

VIP Bonus Code

VIP cashback bonuses are offered to players to reward them for their loyalty. The loyalty or VIP program could be a tier reward system; with each bet you make, you will receive loyalty points. Once you’ve collected a certain number of points, you can redeem these for casino bonuses, including cashback bonuses.

VIP bonus rewards are more lucrative than regular casino offers since you get bigger bonuses and better terms and conditions for these bonuses. The cashback bonus for VIP players could also be a daily, weekly, or monthly offer.

Event offers

Casinos offer a wide range of bonuses on holidays, including the cashback bonus. For example, you could receive up to 20% on lost bets during Christmas, Thanksgiving, or Halloween. Event offers are usually limited to a few days. However, Christmas cashback bonuses could run for the entirety of December. To know the validity of the bonus and every other limit on the offer, you should check through the terms and conditions of the bonus.

Comparison of Cashback Casino Bonuses

The welcome bonus is the most common promotion at most online casinos, offering you lucrative sums when you sign up as a new player. The cashback offer has more perks than the welcome bonus since it allows you to play many different games and claim a larger amount of free money.

You usually have to make a minimum deposit to claim the welcome bonus, and wagering requirements are typically attached to the welcome bonus. With cashback bonuses, you don’t need to deposit to claim the offer, and there are no wagering requirements either.

Cashback bonuses and promotions can be broken into several types based on how the bonus is used. Here’s a rundown of the types of casino cashback bonus offers you can find:

Cashback Rewards for Live Dealer Games

Live casino cashback rewards are bonus offers limited to live dealer games. You can get a refund on your losses on live dealer games like blackjack, roulette, poker, baccarat, and craps.

For example, Rizk Casino offers a cashback bonus of up to 25% of your net losses of up to $250 in real money. No wagering requirements are attached to this bonus offer, meaning you can claim your winnings right after you’re done with the bonus offer.

The bonus offer at Rizk Casino is broken down into 3 different live casino cashback offers:

We recommend you check the terms and conditions of the offer. The bonus comes with different percentages of your losses which should benefit both low and high-rollers at online casinos.

Pros and Cons of Cashback Casino Bonuses

Cashback bonuses come with many perks, but there are also many drawbacks. Here’s what you need to consider when using casino cashback bonus offers.

Pros

Cons 

How to Claim a Cashback Bonus

The cashback bonus is one of the easiest casino promotions to claim. In most cases, the casino will offer you a bonus; all you need to do is accept the offer with the tap of a button. However, in some cases, you must manually claim the bonus on your own.

Before you try to claim the cashback bonus, you should check if it is the right offer for you. When you’re ready to claim the offer, follow the steps below.

  1. Head over to the bonus section: Cashback bonuses are rarely available for new players, so you need to check the ongoing promotions in the bonus section to see if the offer is available.
  2. Read through the terms and conditions: This is the most essential step in claiming the cashback bonus. Read through the small print and ensure you understand them before claiming the offers.
  3. Check if there is a bonus code: Some cashback bonuses come with a unique bonus code that you must enter to trigger the bonus.
  4. Claim the bonus: The cashback bonus might only be available for slots, table games, or live dealer games. Some casinos allow you to choose where you want to play the bonus offer. Ensure you use the bonus at the right place to enjoy the best benefits.

Daily Cashback Casino offers

Daily cashback offers are not common, but a handful of online casinos offer daily cashback bonuses. These daily offers could give you a percentage of your losses for that particular day on all casino games.

Sometimes, the daily cashback offer is only for use on a particular game type. For example, you can receive a refund on your losses for playing online slots or table games. The daily cashback could also be for a particular game title, like the Starburst slot or American roulette. Only players who’ve lost money on these slots are eligible for the cashback bonus.

We’ve checked through every available casino that offers cashback bonuses and chosen the best 5 daily cashback casinos with the best terms and offers.

Ranking Casino Payout Speed Win Rate
#1 Yaa Casino 2 days 95.83%
#2 Skol Casino 2 days 95.27%
#3 Rizk Casino 2-5 days 96.68%
#4 William Hill Casino 3 days 97.24%
#5 Betway Casino 2 days 97.39%

What Should a Cashback Bonus have?

Cashback bonuses should offer better returns to players. However, not every cashback offer will give you a great deal. When checking out a cashback deal, read through the terms and conditions to know exactly how lucrative the offer is. Below, we have listed the features of a great cashback bonus:

How to Calculate a Cashback Bonus

Cashback bonuses are straightforward to understand. However, some players might have difficulty wrapping their heads around how bonuses are calculated. To help you understand these bonuses, here are three examples of how to calculate a cashback bonus.

First, let’s assume you receive a 20% refund offer on a specific slot like Gonzo’s Quest. If you lose up to $50 on that slot, you will get $10 as a cashback bonus. You can go back and bet on the slot using the new funds.

You could also receive cashback bonuses on your daily losses. If you lose bets of up to $100 on a single day and get a 20% refund, you will receive $20 to play with.

Casinos also offer cashback bonuses on monthly losses. If you get a monthly cashback, there will be a limit on how much you can claim. For example, an online casino could offer 25% cashback up to a limit of $100. If you’ve lost up to $1,000 within the month, you should receive a $250 cashback; however, you will only be eligible for the maximum limit of $100.

Cashback bonuses are 100% legal in Canada. With this type of bonus, casino players do not need to make any deposits to claim the offer. This bonus offers you the money you’ve lost on bets so you can bet again. Remember that online casinos restrict bonuses to players from specific regions and countries. Check the terms and conditions to confirm that your country is eligible for the bonus before claiming it.

In addition, the legality of an online casino is the ultimate factor that determines if any of the bonuses are legal or not. For example, casinos in Canada must hold a valid license from reputable regulatory bodies like the Malta Gaming Authority, the UK Gambling Commission, and the Kahnawake Gaming Commission. Look for a license from at least one of these authorities before claiming the bonus at the casino.

Find a Casino Cashback Bonus Offer Today!

Cashback casino bonus offers are great deals for regular players who want to minimize their losses. However, this bonus type only offers you a fraction of your losses, and there is the temptation to play with even more money to recuperate other losses. Ensure you stick to your budget regardless of how lucrative the cashback offer is.

Check out our list of the best cashback casino sites at the top of this site to find a promotional offer that works for you.

FAQs: Casino Cashback Bonus

Do I have to claim the casino cashback bonus?

You have to opt-in to claim the cashback bonus at most online casinos. To do this, you must navigate to the promotions section, click on the cashback bonus, and opt in. You'll automatically receive the cashback bonus in your account. Sometimes, you must enter a code to claim the bonus.

Are cashback bonuses safe?

Yes. As long as you're playing at a licensed and safe online casino, you can trust that the cashback bonus is safe to use. Check for a UKGC, MGA, or the Kahnawake Gaming Commission license and confirm that the casino uses SSL encryption to secure your data.

How is a cashback bonus different from a welcome bonus?

A cashback bonus is an offer that will refund your losses from betting on casino games within a particular period. On the other hand, a welcome bonus is an offer for new casino players. You might have to deposit to claim the welcome bonus. However, the cashback bonus won't require a deposit to claim.

What are the cashback percentages usually?

Cashback percentages usually fall within the range of 10% to 30%. If the cashback offer is part of the welcome bonus, you might see a higher value of up to 50%. Some very generous casinos will offer up to 100% on your first bet at the casino if it turns out to be a loss.

What is the maximum cashback amount?

The maximum cashback amount is the limit as to how much you can claim. For example, if you receive a 20% cashback up to $100, $100 is the max limit you can claim. The casino determines the maximum cashback amount, and different types of cashback bonuses would have different maximum limits. Daily bonuses usually have the lowest maximum limits.

Author John Volter

I'm a Canadian casino expert who writes about online casino reviews, slots games, bonuses and much more. I've been in the industry for over 10 years and knows everything there is to know about casinos. I'm a big fan of online s... Read more about the author

CasinoGrizzly » Best Casino Cashback Bonus in Canada
Last updated: November 16, 2022