Best Cashback Bonuses in Canada 2024

Cashback in Canadian Casinos for 2024

Online gambling is as developed an industry as any when it comes to customer service (among industries like e-commerce or the financial sector). Best virtual casinos have long adopted many tools such as registration incentives and first deposit bonuses.

These mobile casinos have also borrowed rewards for loyal players from banks and stores. Most often, they are issued in the form of cashback.

The cashback system at online Canadian casinos works on the same basis as receiving cashback for buying goods or services.

In stores, these bonuses are usually received when paying by card, but in live online casinos these cashback rewards are accrued from bets made by the customer when they're in a losing position. Where good luck fails, cashback comes into play, saving the player from going deep into a deficit by returning a part of their money.

In other words, this approach is designed to ensure that users who have been down on their luck don't lose interest in the game by earning a second chance. Such an approach perfectly aligns with the needs of the players.

How Is the Cashback Amount Calculated?

Each operator chooses their own calculation methods. Here are some of the most popular ones:

• Based on Loss Amount. This is the most popular method. The difference between the amount of deposits and withdrawals for a certain period of time is taken as a basis for calculating cashback.

Example Calculation. Within a set period of time (for example, a week or a month) a client deposited $500 CAD to an online casino account, did not withdraw any funds, and spent $380 on bets. In the end, client received a winning of $100 CAD. A cashback rate of 5% would net them $14 CAD ([500 – 380 + 100]: 100 x 5).

• Based on the Total Amount of All Bets. Cashback is credited for losing and winning bets in any games that fall under the bonus program.

Example Calculation. A player spins 200 reels on the Starburst Slot from NetEnt with an RTP of 96.1% (House Edge is 100% - 96.1% = 3.9%) for $500. With a cashback of 5%, the amount awarded would be: 500: 100 x 3.9 x 0.05 = $0.98.

Cashback Size and Loyalty Program

Many fast payout casinos have a dynamic cashback percentage as opposed to a constant one. The percentage varies depending on a customer's loyalty program level. The higher the level, the greater the return percentage.

Let's take Vulkan Vegas Casino as an example:

Cashback conditions may change with the percentage.

How to Get Cashback at Online Casinos

Users are not required to do anything particularly special in order to have a portion of their losses regularly refunded to their account. All they have to do is become a regular customer at an minimum deposit online casino with cashback while betting real money in qualifying games.

The process goes as follows:

1. Choose an online casino from our top rankings. We've made sure to list only verified and high-quality casinos accepting players from Canada and Canadian Dollars.
2. Sign up for an account. Be sure to choose Canadian dollars as your account currency, as not all virtual casinos allow you to change your selected currency after creating an account.
3. Add funds to your account. After making a deposit, you can start playing for money.
4. Activate cashback.

Ways to Activate Cashback

Depending on the rules, there are several ways to activate cashback.

• Automatically. On a specified day, a cashback sum will be transferred to your balance, which can be used right away.
• Using a promo code. The player must specify a unique bonus code in a special field under a bonuses section. This must be done within a certain period of time.
• Using live chat. While cashback is active, send a message to the support team and ask that the money owed to you for regular play be credited.
• In your account settings. Sometimes, all it takes is activating it in your profile.

Cashback Restrictions

Online casino operators seek to protect themselves from fraudulent players that are in it only for the bonuses. This is why bonuses are often subject to restrictions on how they can be used:

• Time restrictions. Once credited and activated, there's a certain window of time for players to use their cashback money or withdraw it. If the money remains unclaimed, it will be cancelled after a few days or weeks.
• Sum restrictions. Operators set a limit on how much you can lose and that limit is taken into account when calculating cashback. Limits can also be set on the cashback amount itself.
• Bet size restrictions. The administration of the online casino you use may limit the games where cashback bonuses can be wagered.
• Loss/deposit amount restrictions. A player usually needs to deposit funds or reach a set level by their loss amount in order to receive cashback.

How to Withdraw Cashback Funds

Unfortunately, many players can't withdraw the funds they receive through cashback immediately. Customers earn parts of their bets back so that they can continue playing. That's why, before being able to withdraw funds, the following will have to be done in the casino:

• Bet all of your winnings, taking the wager into account. The rules often stipulate the minimum bet allowed for wagering.
• Verify your account by providing the necessary documents to Support staff.
• Choose a withdrawal method, send in a request, and wait for the funds to be credited to your bank account or wallet.

Frequently Asked Questions