Canadian Cashback Bonuses

Even the best sports bettors hit rough patches now and then. No matter how much they research their picks, things just don’t go their way and their betting balances dwindle. However, if they wager with a bookie that offers cashback, they can at least recover some of their losses. A cashback bonus probably won’t completely make up for a cold streak, but it will certainly take a little bit of the sting out of it.

Canadian Bookmakers with Cashback Bonus

A cashback program is something to consider when you are looking for a bookmaker. Not all bookmakers have them. Some sportsbooks make cashback a standard feature while others offer cashback sporadically through time-limited promotions. Check out the list below to find out which bookmakers have cashback in Canada.

What is Cashback and How does it Work?

Cashback is a type of bonus that some bookmakers offer. They give you a certain amount of money back on your losses. The amount is typically a percentage of those losses up to a maximum amount. It could be 3%, 10%, 15%, or even more depending on the bookie. The qualifying period can also vary. Your bookmaker might offer daily cashback, weekly cashback, monthly cashback, and so on.

So how does it work? Let’s say that your bookie is offering a cashback bonus over the weekend. They will give you 10% up to $100 if you have a net loss over Saturday and Sunday. A net loss is basically betting more money than you win. So, you place $2,000 worth of wagers over that period and only win back $1,000. That’s a $1,000 net loss. Your bookie would give you a cashback bonus of $100 which is 10% of your losses. If your losses amounted to $500, you’d receive a $50 cashback bonus.

Some bookmakers credit the cashback to your bonus account while others simply issue it to your regular account. If your bookie credits it to your bonus account, you will have to satisfy the site’s bonus terms and conditions meaning you’ll have to wager through the cashback amount a certain number of times.

The percentages, maximum cashback amounts, minimum qualifying net losses, and qualifying periods will vary from bookie to bookie. Some cashback offers are only good for certain events or have other conditions attached. Always make sure to read your bookie’s cashback terms and conditions so you have a full understanding of what you’re getting into.

Conclusion

While a cashback bonus usually only allows you to recoup a small percentage of your losses, it’s better than nothing. High rollers should definitely find a bookmaker with a cashback program because their potential losses can be significant.

Hence, the cashback is much more valuable. This isn’t to say that Canadians who like putting a couple of bucks on the occasional game won’t benefit. They will. After all, money is money. A good cashback offer should be a main factor in your search for a great sportsbook.