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RacingBetter News |
| Monday 3rd August 2020 | |
Matched Deposit vs Cashback Bonuses: Which are Better?
When you visit many betting websites these days, you’re welcomed with a series of bonuses. You could receive a free bet immediately you create an account. Or you could get free spins to play slots.
The most generous reward comes when you make your first deposit—usually a 100% matched bonus for a maximum of £1000. For many people, this bonus is too good to ignore. But is it?
Would rather receive a deposit bonus or a cashback on your losses? In other words, pick one: bonus vs cash. Not so fast. First, let’s find out which one is better.
Matched Deposit Bonus—How it Works
You create an account at an online casino or sportsbook. Then you deposit money, £10 to as much as you have. In turn, the casino matches your deposit 100% up to a specific amount—say £100.
If you deposit £100, you’ll receive an extra £100 so that you’ll have £200 to play your favourite casino games. In other words, a matched deposit offer is a chance to double your bankroll. And in doing so, you have more money to increase your chances of winning.
Cashback Bonus—How it Works
In the gambling world, a cashback bonus often means precisely what it suggests. You get money you can withdraw instantly. However, sometimes it also comes as a regular bonus with wagering requirements.
How do you earn cash backs? You deposit and bet real money at an online casino. The operator then decides to reimburse some of your cash based on several conditions:
- You receive your losses as cashbacks
- You receive a cashback for every penny you spend
- You receive a cashback as a loyal customer
Most casinos offer cashbacks based on the first condition. You spend money on slots or card games. Then you receive a fraction of your losses through kickbacks.
In an example, let’s say you bet £10 on the Mega Moolah progressive slot. But it’s not your lucky day and you lose half of your bankroll--£5. An operator could choose to offer half of your £5 back (£2.5) as a reward.
The benefit here is that the casino has helped you minimize your losses from £5 to £2.5. And when it comes to gambling, part of being profitable involves lowering your losses.
Matched Deposit vs Cashback—Ease of Acquiring
If you’re like many gamblers, you love bonuses you can claim in a few clicks. You want to grab your offer and head to the casino lobby straightaway. That's why matched deposit bonuses are so popular. They give you a simple condition and when you fulfil it, you receive your bonus.
Cashback offers aren’t always straightforward. First, you must create an account and deposit money. Then you must spend it to qualify for a kickback. If it’s a weekly or monthly bonus, then you also need to wait a few days before you receive your offer.
Winner: Matched Deposit bonus.
Matched Deposit vs Cashback: Bonus Amount
When it comes to gambling bonuses, quantity matters as much as quality. You want a generous amount of bonus so that you can play as many games as you want. Matched deposit bonuses tend to be incredibly bountiful, but the quality of offer varies immensely.
You could receive a matched deposit bonus worth £1000 but the terms and conditions could put you off. To expound more, imagine such an offer with 80x wagering requirements. It would be difficult to meet these wagers and cash out your bonus wins.
On the flip side, cashback bonuses come in small amounts but there’s a good explanation. They are recurring offers and could last a lifetime. So, even if you get 10% of your monthly losses, you can claim the money for months or years.
Another advantage is that your cashback money you can withdraw at will. For that reason, a kickback is worth thinking about even if it comes in small amounts.
Winner: Tie.
Matched Deposit vs Cashback: Terms and Conditions
One of the most important factors to consider before you accept or reject a bonus is its terms and conditions. What games can you play with the offer? What's the maximum you can bet and win? Can you withdraw your wins: if yes, how?
A bonus’ terms and conditions indicate the value you get back as a player. Naturally, you want to claim the bonus that gives you the best value for your time and money.
With that in mind, both matched deposits and cashbacks can offer great value. So, read both types of offers whenever you have the chance. If you receive a deposit bonus with few or no wagering requirements, claim it.
In contrast, take advantage of cashbacks that award you no withdrawable money. You could earn a few pounds per week through kickbacks. But after a year, it could be decent cash that could make a difference in your records.
Winner: Tie
Matched Deposit vs Cashbacks: Value over Time
Let’s face it. You receive matched deposit bonuses once or a few times. After that, you could receive loyalty points or no bonuses at all.
Cashbacks are, by contrast, don’t have an expiry date and means they offer better value over time.
Picture this: you claim a matched deposit worth £50 and use it to win £100. It’s a profit but a one-time profit. On the flip side, let’s say you join a casino that reimburses 20% of your monthly losses as cash.
If you lose £100, you receive £20. After a year, you will have received £240. In five years, you’ll get a value of £1200. That’s a lot of money whether you withdraw it or use it as your bankroll.
Winner: Cashback
Verdict
Both matched deposit cashback bonuses have their place in the gambling sector. So, claim both when you have the opportunity. However, read their terms and conditions first and determine how much value you get back. If the deal sounds good, claim the offer and use it to maximize your profits.
