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The Secret Cashback
There are many well-hidden secrets within the online casino industry. One of them is cashback.
Martin Weib
Lawyer at The Happy Gambler Blog
Sure thing, no casino would ever dream of giving money for nothing. Like any other industry, that’s just not the way the cookie crumbles. Yet, as much as cashback bonuses amount to significant expenses for any online casino, they’re a necessity more than anything else. Cashback bonuses might be the best kept secret within the industry.
To those of you who may not be familiar with the cashback concept, a cashback is a discount on your losses over a certain period.
In Asia, China in particular, the cashback concept has long been since long established. If you, as a casino, ever want to see a losing customer again, you’d do wisely in reimbursing them at least some, typically 10-15 percent. Initially, it started off as a special treat. Now, on the other hand, cashback bonuses have evolved into a given, something everyone takes for granted – at least if they’re big enough a fish.
The same cashback principle applies to online casinos, too. I know, for I work within the industry. Small players may have little to gain from cashback bonuses, for the simple reason that they’re rarely offered to anyone depositing less than a few hundred dollars. If, however, you emerge as something of a regular, then you’ll rapidly find yourself being treated with VIP silk gloves. And just like in Asia, cashback is the name of the game.
Some cashback systems reward longevity. This means that any swap from one online casino to another can turn into a costly decision. New online casinos, the ones who are unfamiliar with your betting history, will be less inclined to throw money over you before you have proven yourself. Such benefits rarely come unless you’ve stuck around for long enough to show your dedication. In such instances you’re likely to find yourself being offered truly generous cashback rewards, and even more so if you happen to play for higher stakes.
The best online casinos, with the best VIP programs, usually offer tailor-made cashback packages. In such instances, you express your wishes in terms of time commitment, average bet and the types of games you intend on playing, and the online casino will in turn give you the best they can offer in terms of cashback. Without disclosing too much, I have, during my years as a VIP manager within the industry, seen whale cashbacks well into the 30 percent range.