How to Gain a Casino Advantage with Loss Rebates
Exploiting Cashback Bonus Casinos Online for Easy Profit
If there’s one thing we know about casinos, it’s that every game they offer comes with a house edge. The rules always give the casino an advantage over players. But what if there were a way to turn the tides to your favor? What if you could easily gain an edge over the house – no card counting required? You’d probably think I was full of it, or crazy, or both. But you really can, and I’m going to tell you how.
Have you ever gotten a cash rebate on an item you bought? You know the ones. You buy something, and when you open the box, there’s a card inside that says “mail-in rebate”, or send us an email and you’ll get x-amount of dollars back. It’s kind of like getting a discount after the fact. Well, that’s how loss rebates work with casinos. You play their games, placing bets, and if you lose, they’ll give you a portion of your losses back.
That’s the short of it. Keep reading, and I’ll teach exactly how it works, and where you can find these exceptional bonuses.
Exploiting Cashback Bonus Casinos
Not all casinos promote cashback bonuses these days. Those that do tend to run these as seasonal promotions, so you’ll need to be vigilant in your search. Once you find one, be sure to read the fine print. Within the terms, you’ll find all the important information pertaining to the profitability of the loss rebate. Here’s what you need to look for:
Deposit Requirements
The first thing you’ll want to take note of are the deposit requirements. At the least, you’ll need to make a minimum deposit of $10. It could be higher; maybe $20, $50 or even $100. Some online casinos will let you make cumulative deposits within a certain period of time. For example, it might take a total of $100 in deposits in the same week, or month, to qualify for the cashback bonus.
Daily and Weekly Start/End Dates
Sometimes, a loss rebate will require the player to deposit on a specific day. For instance, depositing on Friday might earn you cashback on that day’s losses. Or it could be a weekly rebate, where depositing on a Wednesday returns a full week of cashback, starting with that Wednesday’s losses, and continuing through to the following Tuesday.
Eligible Games and Wagers
Game restrictions are a very common stipulation in casino cashback promotions. More often than not, rebates are only paid out on slot machine losses. If table games are included, look for any exclusions that may be listed. Also pay attention to certain types of wagers that may be restricted. In roulette, for example, loss-limit betting (e.g. wagering on red and black at the same time) may result in forfeiture of the promotion.
Percentage Rate & Maximum Rebate
The percent of losses you’ll recover will appear in bold print, but be sure to look closer for a max rebate amount. The deal might read “10% up to $100 cashback”. This would mean you’ll get back 10% on all eligible losses, up to a maximum of $100. So, if you lose $200 playing the slots, you would get back $20. To receive the max cashback reward, you would need to lose $1,000 on eligible games.
Is the Rebate Cashable or Bonus Credits?
This is an important one. Some rebates are paid back as “cash” (as the name “cashback” would imply). When it’s a true cash reward, it goes straight into your cash balance. You can withdrawal it, or place more bets with it. The choice is yours. However, if the rebate comes in the form of a “bonus”, or “bonus credits”, that means you’ll have to complete bonus wagering requirements (WR) before you can cash it out.
Exploiting Cashback Bonuses for Easy Profit
Now that you know what to look for, let’s talk about how you can gain an advantage over the casino with cashback bonuses. The idea is to play eligible games with the lowest possible house edge, so that you’re losing as little as possible. Let’s say you’re playing a live dealer blackjack game with an RTP of 99.54% (house edge 0.46%).
You play this game for a whole week, a few hours a day. In that time, you place a total of $5,000 in bets. If the RTP holds true – and it should be pretty close – we can assume you’ve lost about $23.00. Your 10% cashback bonus will net you $2.30 back in loss rebates. That’s still a negative expectation of $20.70, but it’s effectively boosted your RTP from 99.54% to 99.59%; house edge down from 0.46% to 0.41%.
As any strategist knowns, every little bit counts. But to get a true advantage, you’ll need a bit more.
Combine Cashback with Deposit Bonus + VIP Comps
There are a lot of reasons we recommend playing online casinos versus the terrestrial variety, and this is another one. Online casinos love to hand out deposit bonuses. Pretty much any deposit you make will receive a match bonus of some size. Of course, you’ll have to complete WR on these bonuses, and abide by the terms of eligible games and wagers. However, combining this type of bonus with your cashback rewards – and if you’re extra diligent, a VIP loyalty program – you can easily turn that supremely low house edge into a player advantage.
Let’s say you’ve claimed a bonus of 100% up to $100 (deposit $100, get $100). It’s eligible for playing the same live dealer blackjack game noted above. As a high-ranking VIP member of the casino, you’re also earning comps at a rate of 2.5x ($2.50 per $1,000 wagered). Now, you have to complete 40x WR of this deposit+bonus, so that’s $8,000 in wagers to clear the bonus.
If you place $8,000 in wagers, at a 99.54% RTP blackjack game, probability states you’ll lose $36.80. That gets you back $3.68 in loss rebates. The comps will net you $20. Now you’re only down $13.12. The fact that you got a free $100 on the bonus puts you ahead by $86.88, which translates to an RTP of 101.09%.
Of course, you need to be a high roller to pull off this type of advantage play at cashback bonus casinos. It just goes to prove the old saying really is true – the rich get richer!
#1 Canadian-Friendly Casino
Jackpotcity.com is our editorial pick for your gaming needs.
Currently offering an entire suite of casino games, as well as a wide range of Canadian deposit options, JackPotCity truly offers world-class gaming.
