CAG2014: Landscapes of Aging: October 16-18, 2014, Niagara Falls, Ontario

How to recover lost money in casino

People who gamble in casinos often lose money. This applies to professionals as well as beginners and those who are not very good at gambling. 

If you lose a lot of money in one gambling club, you may be tempted to switch to another platform. This is especially common among superstitious people or customers who doubt the honesty of the website. Casino operators know that they need unlucky players to come back, so they offer them various bonuses. We asked the owners of Canadian gambling platform how to recover lost money in casino. The most effective bonus in this situation is a cashback. It will be discussed below.

Cashback bonus

Many online gambling clubs use creative methods to attract new players and retain old ones. This includes website design as well as advertising campaigns and loyalty programmes. The goal of these programs is to keep the user in the site as long as possible. Well-designed loyalty programmes are very successful in achieving this goal. Basically, online casino bonuses are a way of thanking the player for choosing this particular casino for their entertainment. The number and variety of promotions and rewards, as well as their size and appeal, vary from one online platform to another. Particular attention should be paid to cashback bonuses.

The term "cashback" is not new to the gambling industry: many banks provide such "incentives" to bankcard holders when they use these cards to pay for goods and services. This, in turn, is a good incentive for customers to use these cards more often to pay. Cashback rewards at online gambling clubs operate on a similar principle.

It is a refund of a portion of the funds that the customer has lost. The amount of cashback depends on how much money the customer has left in the casino. The second parameter is a certain percentage, predetermined by the rules of the promotion. It may depend on such criteria as the status of the user, the activity of the client, the amount of losses and so on.

But casino cashback is different from the rewards people get from banks.

In banks, people get rewards for using plastic cards and making other transactions. They do not lose money, but spend it in exchange for goods and services. The refund becomes a welcome addition and an incentive for them to continue working with the institution.

At a casino, players who are unlucky lose funds. Yes, they have had fun and an experience, but these emotions can hardly be called positive. Cashback for them is a consolation prize that encourages them to keep playing.

Account recovery is not a way to make funds playing on an online platform, but it can help you 'hedge' your bankroll. This means that if you lose money while playing, you will get some of it back. It's always nice to get a refund, especially if it's automatically credited and doesn't require you to meet any conditions. If you've played at an online casino before, you know how nice it is when you get some money back after a bad week or gaming session.

Types of online casino cashback

There is no one rule for gambling club cashback. Each platform may have its own rules on how to recover lost money in casino.

Almost all casinos offer cashback for net losses. This means that you get money back depending on how much funds you have lost. It is much rarer to find platforms that offer cashback based on other metrics, such as the amount of deposits or total income.

There are several points on which you can classify the types of offers:

  • Who is the customer? For new or regular customers, or only VIP customers?
  • What is the schedule? Is it paid daily, weekly, monthly or some other schedule?
  • What is the refund? It may start at 1% and go up to a very large amount.
  • Is there a maximum limit on how much cashback you can get?
  • Do all games have an account recovery percentage or only certain games? And are these games limited to just slots or are there other types of games as well?
  • Are the rewards paid in real money or in bonus credits? In the second case, you can only use them for certain games.
  • Wager. If I get a cashback reward, how many times do I have to win it back?
  • Compatibility with other promotions 
  • Can I participate in more than one promotion at the same time?

Often online gambling clubs have different rules for each player that they think might be special.

How the bonus works

When you receive a refund bonus, it is calculated based on the deposits you have made without receiving any additional rewards. The maximum and minimum percentage of refunds that users can get depends on the administration of virtual gambling clubs. Usually, the amount of such refunds ranges from 5 to 30%. In addition, depending on the casino, the format for crediting rewards may vary: they may be issued either as bonus money, which must be used exclusively for playing games, or as cash, which the user can usually use at his own discretion.

It is up to each club to decide how often the bonus is awarded (daily, weekly, monthly, etc.), also the administration of the online casino can limit the games from which losses count for a refund. Sometimes there are special promotions where cashback is given for playing a particular slot machine. This is done to encourage people to play these particular games (which have lower risks). Also, there are usually minimum and maximum values of the refund that each player can get. This information can usually be found on the official websites of the gambling operators.

CashBack allows players to reduce the risk of gambling, because if they lose money, a percentage of it will be refunded. If they were unlucky last time, this bonus will give them another chance.

In some cases, account recovery can be built into the online casino's loyalty program: for every wager you place, you will receive a certain number of points that can be redeemed for cash.

You should also pay attention to the wagering conditions of such rewards: some give them without any wagering conditions, while others ask for different sizes of wagering conditions.

In lieu of totals

When you register with an online casino, it sets out the terms and conditions for any bonuses. We strongly recommend that you read these terms and conditions before playing for real money to avoid misunderstandings. For example, most platforms do not charge a cashback commission when you play blackjack or roulette.

Next, you need to choose an online gambling club that offers casino refund bonuses. Once you have chosen a website, you need to find the specific rules and clarify how to recover lost money in casino. Be sure to read them carefully, as some clubs require players to confirm their intent to receive the reward before they can begin wagering it.

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