What are cashback and comp point rewards at online casinos?
Many online casinos also offer attractive rewards programs to entice players and keep them coming back. Two of the most common types of bonuses are cashback and comp points. Cashback rewards give players a percentage of their losses back in the form of real cash deposited into their casino account. In an online casino, all weekly losses might be credited with 10% cashback.
There is a wide variation in cashback percentages between online casinos, and they typically pay weekly or monthly. For VIP players, some companies may offer as much as 20% cashback. The best online casinos will offer cashback on all games, while others may exclude certain games like table games or live dealer games. Cashback provides players with extra incentive to play at that casino by essentially reducing the house edge. Even if you have an overall losing week, getting 10% or more of that money back softens the blow. These rewards add up and help offset losses.
Comp point rewards
Comp point rewards are similar to frequent flyer programs, where players earn points based on how much they wager. Typically, players earn comp points at a rate of 1 point per $10-$20 wagered. The exchange rate for comp points to cash also varies between online casinos.
The main difference between cashback and comp points is that comp points are earned gradually over time based on play, while cashback is paid out directly on losses. Comp points also allow players to work their way up to unlock additional rewards and promotions. Like cashback, comp points effectively help reduce the player’s cost of play over time by returning some of their wagers in monetary and other rewards.
Are these rewards worth it?
Cashback and comp point programs can be invaluable if you play at online casinos regularly. Essentially, these rewards programs reduce the house edge over time, allowing you to recoup some of your losses. This stretches your gambling bankroll and allows you to play for longer sessions. It is important to read the fine print on these rewards programs. Some online casino in australia impose wagering requirements on these rewards before you can cash them out. For example, you may have to wager your cashback amount 10x before it becomes withdrawable cash. Wagering requirements for comp points also vary greatly between online casinos.
Some casinos exclude certain games like table games and live dealer games from counting towards cashback or comp point earnings. So, you want to choose a casino that offers rewards on all your favorite games. Doing some research to find the best programs can help you maximize these rewards. This allows you to recoup more of your losses over time and enhances your overall online gambling experience. As long as you understand the terms and pick a casino with a generous, fair program, cashback, and comp points are rewards worth chasing.