Rakeback bonuses offer continuous joy
Typically, various types of bonuses are largely developed by the casino industry itself. However, there are exceptions, as rakeback bonuses have originally come from elsewhere to online casinos. Let's take a closer look at this reward.
In this article, we will take a closer look at the increasingly popular offer type on online gambling sites, namely rakeback. We will clarify what it is all about, how it works, and we will examine the pros and cons. This way, you will gain more information and also find a list of the best rakeback casinos at the moment.
Hot rakeback online casinos
What are rakeback bonuses?
Rakeback bonuses are refunds of stakes from the casino to the player. This refund can be paid to the player's gaming account either as cash or as bonus money, which comes with wagering requirements. The final rules and conditions are always at the operator's discretion on how they want to implement their campaign.
The logic behind this offer is largely hidden in the word rake. This translates to "harrow" in English, which refers to a tool that belonged to the dealer in old casino games. With this typically black rake, the game operator took a small slice from each pot in poker as a fee for their services. Rake thus refers to the commission taken by the game organizer, such as the casino, for organizing the games. Rakeback, on the other hand, is a refund of this expense back to the player.
Rakeback bonuses are therefore tied to the stakes set by the player and the casino's commission or, in today's online world, the refund percentage. Nowadays, refunds can also be obtained from slot games, where players can earn back, for example, 0.5% of each stake, whether they win or lose. Rakeback is always paid regardless of the game's outcome, unlike cashback, which is paid on incurred losses.
The history of rakeback bonuses
As we touched on earlier, rakeback got its name from raking in the pots of the casino games. In this way, the house has taken its share of the games, such as poker, where players compete against each other, not against the casino. For example, in roulette and blackjack, no rake is charged, as the house's profit in these games is based on a mathematically shaped return percentage defined by the rules and conditions. In these games, the casino always wins in the long run.
Representatives of gaming houses have been raking in portions of players' pots for hundreds of years, but the actual refund activity is quite new. In fact, the practice of refunding expenses to customers originally came from credit card companies' campaigns. By offering a small cash back on each purchase, they managed to get people to spend more on their cards and buy more.
The phenomenon made its way into the world of gambling around the mid-2000s when the booming online poker phenomenon brought actual rakebacks to the market for the first time. Players were lured to become customers and play more by promising a certain percentage of the poker site's commission back. Players could even receive all their rake hits back, amounting to thousands of euros.
Most recently, this form of offer has also found its way to online casinos. Sites that previously offered cashback have started to pay rakeback related to stakes in addition to losses. Such offers were first seen around 2015, after which they have become a permanent feature.
How do rakeback bonuses work?
Rakeback can have several different operational logics. There is automatic rakeback, which is paid automatically to the player after each placed stake. There may also be semi-automatic rakeback, where the amounts accumulate in the balance automatically, but the player must redeem the refunds themselves. The third and rarest option is the so-called manual rakeback, where the player is required to contact the casino's customer service to request the refund.
Normally, rakeback is automatic or semi-automatic. Depending on the casino, the player's accumulated balance is either paid directly to their gaming account or to a separate rakeback account, from which the funds can be withdrawn at any time.
It is worth being careful about a couple of things. First, whether the refund is paid as bonus money or cash. Cash is, of course, always king, as bonus money comes with wagering requirements. The second point is whether the refund is paid from the player's stake amount or, for example, from the casino's margin. Let's take an example:
- A: The player has staked €1,000 and receives 0.5% rakeback. €5.00 is refunded to the account.
- B: The player has staked €1,000 and receives 10% rakeback from the casino's margin (3%). The casino's margin is €1,000 x 0.03 = €30.00, and from that, 10% rakeback = €3.00.
In the long run, the difference is significant from the perspective of player A. Therefore, it is always advisable to read the terms of the refund to ensure you always get the best benefits and starting points for playing.
Rakeback bonuses are worth utilizing
Generally speaking, we recommend using rakeback bonuses. They offer risk-free added value to gaming. Since the refund is always paid according to the stakes placed, this benefit does not require the player to lose. All money is extra on top of their own funds, so it carries no risks.
With rakeback, you can play more or longer at the casino's expense. Since the risks are low and all are borne by the casino, the player's chances of becoming rich are not very high either. But if the account runs dry, activating the refund can always be a way to try to make a miraculous comeback to winning. Anything is always possible.
Drawbacks are few
If we consider the possible downsides that rakeback bonuses entail, the list is quite short. There are no direct disadvantages to these offers due to their risk-free nature and stake-based mechanics. You receive a refund whenever you stake, so it is like a continuous automatic added benefit from concentrating your play.
However, it is worth remembering that it is pointless to play more than you intended just for the sake of the refund. The more you play, the more you receive in refunds. But on the other hand, the house edge also increases, and you are more likely to end up as the one paying. A 0.5% refund does not help much if you lose 5% on every spin, mathematically speaking.
Who are rakeback bonuses suitable for?
Pure and raw stake refunds are perfect for those who are not attracted by regular bonuses. Extra money is received without wagering requirements, regardless of stake size or games. Thus, it suits both penny players and big high rollers equally well. Everyone earns according to their contributions, and everything is extra on top of their normal funds.
In other words, we believe that rakeback bonuses are suitable for everyone. However, it is advisable to check the rules and conditions, as despite being risk-free, some offers may be clearly better than others. Therefore, it is worth spending a little time and effort on choosing the casino to get the most out of it.