The cashback betting bonus is a very popular promotion among online bookmakers in Canada. In this guide we will explain how the different types of bonuses work and see which sites have the best offers to guide players towards the most convenient and suitable gaming experience for them.

All the best betting sites periodically change their special offers; we advise our readers to visit the pages of their favorite bookmakers to stay updated on any promotions.

Bookmakers	Cashback Bonus	More Info
	50% up to CAD20	Go to the site
	50% up to CAD215	Go to the site
	50% up to CAD225	Go to the site
	50% up to CAD150	Go to the site
	Up to CAD100	Go to the site
	25% up to 25%	Go to the site
	up to CAD50 + CAD5 per week	Go to the site
	Up to CAD15 + CAD5 per week	Go to the site

We will also explain what are the main parameters to observe for these promotions such as the odds, the validity of the cashback bets and the percentage of bet refunds that can be obtained.

Betting Cashback or Loss Refund Bonus?

The cashback betting bonus essentially refunds part of any potential losses within a certain time frame, returning a percentage of the customer's bets. This betting refund is suitable for novice players who can thus learn to play without losing significant amounts, or for those who prefer smaller bets with low losses.

It is also offered as welcome bonus by top bookmakers, but increasingly it can be found in weekly offers or during specific events.

 

Bookmakers with Betting Cashback Bonus

Below, the experts at trendsnow have selected the best online betting operators and their most interesting offers, along with any requirements, odds, and promotional codes. To better guide the reader towards their best choice, we have included many other promotions offered by various bookmakers, along with welcome bonuses for any new registrations to gaming portals.

Betting Cashback Bonus: the Top 5 Bookmakers of 2023

Cashback Bodog Bets

Bodog was the first online betting and gaming agency to spread throughout Canada and is still one of the cornerstones in the industry. Specializing in online slots and casinos, it offers approximately 120 games with high-quality software combined with a wide range of sports betting. Another big plus point is the clarity with which their offers are presented and a customer service that is always active and available.

Bodog betting has an interesting welcome offer for new customers, where it offers a betting cashback bonus of 100% on the first deposit and 50% on the second up to CAD20 total. If the first deposit is CAD10, you will get a CAD10 bet refund, if the second deposit is CAD20, the cashback refund will be CAD10, for a total of CAD20.

To get the second deposit bonus it is necessary to wager the entirety of the first in a bet with minimum odds of 1.75, all within 30 days after opening your Bodog account. To make your winnings withdrawable you are subject to a wagering requirement equal to 8 times (8X) the value of the bonus obtained, always at a minimum odds of 1.75. Unused bonuses expire after 30 days.

Furthermore, with Club Betting you can get a second offer after finishing the welcome bonus, it is a CAD5 bonus per week forever. To receive it, just sign up and wager a minimum of CAD25 a week on single line multiple bets with three or more selections and minimum odds of 1.30. The money will be credited to the account after the bet has been settled.

Go to Bodog

 

MyStake Betting Cashback

MyStake has been in the business for more than fifteen years now and even though it is a specialized platform for sports betting we recommend that you also try their online casino with 250 games. Active 24 hours a day, the site offers several entertainment alternatives with a transparent game policy and a dynamic and easily navigable web page.

Remaining on the welcome offers, MyStake betting has a promotion to take into account. They offer new customers a cashback bonus of 5% up to CAD150 on their first deposit which will be credited in blocks of CAD10 little by little. Except for the first, each block will be unlocked only after placing CAD100 of bets at a minimum odds of 2.00, the sum cannot be withdrawn unless the wagering requirement is completed.

Go to MyStake

 

Cashback Betting LeoVegas

In the LeoVegas group we find a fair company with solid entertainment foundations. It has been operating in the gambling market since 1990 and since 2008 it has also moved to online platforms, its site offers a wide range of games including online poker, slots, sports betting and even table games. A large number of events, tournaments and special offers combined with transparency towards the customer create a combination that certainly will not disappoint.

Upon registration and confirmation of the identity document, the customer will immediately receive CAD15 to be used for sports bets, blue casinos and green online slots. The bonus cannot be withdrawn except in the casino, where it must be played at least 10 times within 24 hours of being awarded. Furthermore a betting cashback bonus of 50% on the first deposit up to a maximum of CAD30 will be awarded.

New customers LeoVegas betting offers two types of bonus: the first offers CAD5 to try to bet, the second one a gold bonus up to CAD300. The CAD5 of the first bet cannot be withdrawn and will be credited after validation of the identity document. The gold bonus offers a 100% bet refund on the first deposit up to CAD100, if the deposit exceeds this amount the remaining amount is awarded a 50% bet cashback bonus up to CAD200. To receive this bonus it is necessary to play the entire deposit amount in bets with a minimum odds of 1.25 within 5 days of payment.

For example, if the first deposit is CAD250, a cashback bonus of CAD175 is awarded, where CAD100 is 100% and CAD75 is 50% of CAD150.

The gold bonus cannot be withdrawn unless the requirements are met, to be transformed into real balance it must be replayed at least 8 times from the date of assignment.

Go to LeoVegas

 

Bet365 Betting Cashback Bonus

Security and professionalism are the keywords of this historical platform, Bet365. The AGCO authorization granted by the state and a large part of the gaming software produced by Playtech brings this operator to the top of our ranking. Bet365 betting sports an offer of 124 games with various options, a wide range of sports bets and a secure payment system which even includes Paypal, customer service is always active and available in case of problems, all to provide the best experience to its customers.

Bet365 has a large number of promotions regarding sports bets. These offers often vary depending on the events available so here we will describe the current welcome bonus which has a longer expiration in time.

This offer will give players CAD5 to play on simulated (virtual) matches and races, CAD10 for sports bets and a 50% cashback up to CAD200 on all bets made within 7 days of signing up. The first two bonuses cannot be withdrawn in any way and will no longer be usable after 7 days of crediting the account, they can only be used for bets with a minimum odds of 2.00.

The accrual of the betting cashback bonus will only be considered for sports bets (excluding system and virtual bets) with a minimum stake of 1.50 and cannot exceed CAD200, the bonus obtained will not be withdrawable and can only be used in bets with the parameters described above.

Go to Bet365

 

Cashback Bets PlayOJO

PlayOJO is one of the best new betting sites and a highly regarded entity in the Canadian betting scene. The betting portal is entirely Made in Canada and has a regular AGCO license. Among the various options, the bookmaker also offers the most beloved lotteries in Canada, such as the 10eLotto. In the sports betting sector, although still new, PlayOJO already provides all major live sporting events. There are also live casinos and poker rooms.

PlayOJO presents a welcome offer for sports bets of CAD15 in the form of free bets. Just deposit at least CAD25 (only with PostePay, credit card or PayPal) to join the bonus. As for the betting cashback bonus, with PlayOJO it is possible to obtain up to 100 euros released in daily tranches based on the qualifying bets.

The player who registers on the PlayOJO site will be able to obtain a 100% refund of the deposit made. For the purposes of the bonus, all sports bets will be valid with a minimum of 3 events, odds for a single event not less than 1.60.

Go to PlayOJO

 

Cashback Betting, comparison with other bookmakers

Even if they will not receive the same level of attention as the previous companies, there are some betting portals that it would be incorrect not to mention in regards to the bet cashback bonus.

Wazamba, for example, has a wide range of welcome bonuses with attached betting cashback for new players. Their sports betting offer includes CAD25 on the first bet, another CAD25 on the first sports bet and CAD10 per week up to CAD350 total with a 25% cashback bonus.

Betsafe is a dynamic betting site, full of events and special offers in continuous rotation. You can find interesting and varied cashback promotions, such as the cashback bingo, where the player can receive a 10% wager refund in the game up to a maximum of CAD20.

Unibet has two promotions where the customer receives CAD10 on their first deposit plus 25 free spins on one of their popular Starburst slots, or a generous casino bonus, even live, which can go up to CAD500 based on the deposit made. Unfortunately neither of them has a cashback refund.

How to Get a Cashback Betting Bonus

Below you will find step-by-step instructions for obtaining the betting cashback bonus offered by Bodog to new members.

The first step is to go to the Bodog online portal and homepage, click the REGISTER button (in green) at the top right strong>.

Here, as we have already seen on the step-by-step guide on how to open a new betting account, we will be directed to a form (made up of four sections) to be filled in.< /span> Once this part is complete, just click the buttons to confirm reading the terms and conditions and then click on < strong>CREATE ACCOUNTS.

The last step will be to provide a valid payment method for the purpose of redeeming the bonus, make the first deposit to receive the betting cashback bonus.

In summary, the standard procedure for opening an online betting account requires, step plus, step minus, the following steps to follow. As an example, here's how to create a personal gaming account at our top bookmaker, Bodog:

1. Go to the Bodog website and click on the REGISTER button above (as indicated by the arrow red in figure 1 above);
2. Compile all fields related to personal data: details, identity document, account information, contact (as shown in figure 2)
3. Choose one of the payment methods
4. Confirm registration by clicking on the “CREATE ACCOUNT” button
5. Are you ready to access the Bodog betting cashback bonus?

 

Insurance or Cashback?

Insurance and cashback in an online betting portal are two very different promotions that many offer. Before comparing the strengths and weaknesses of the two choices, we will explain how insurance works.

This offer is offered in various types. Like betting cashback it is proposed to reduce players' losses through some specific guarantees. Rarely will 100% refund be given and it is very common in pre-match betting, in almost all cases the refund will be a non-withdrawable bonus amount wagered on specific odds.

Types of betting insurance

There are different types of insurance bonuses and the most common ones are:

The Recovery Insurance Policy they refund a stake if your team loses in added time.

The 0-0 refunds are activated, however, if the match ends without any goals; they are the most widespread type and many bookmakers also offer it for an entire season.

Multiple Cashbacks are used in multiple bets where they can secure one or more games, although they can often apply to a chain of bets of 5 games or more. Finally, the first scorer insurance reimburses the stake if the chosen player does not score first in the match.

One of the top bookmakers of trendsnow that offers various betting insurance opportunities is Better Lottomatica:

Differences with Cashback Betting

It is immediately noticeable that the big difference between insurance and cashback betting is that the former is applied in a more specific in betting while the latter applies to gaming in general provided the criteria are met.

betting cashback certainly offers more chances to get a refund on the bet but it has the disadvantage of requiring a high volume of play to maintain these bonuses, on the contrary the insurance only applies to some situations in betting sports but without requiring all the effort required by a cashback betting bonus.

In conclusion, we consider both promotions to be very valid and advise bettors to decide according to their style of play.

Conditions and Features of Cashback Betting

The best strategy we can recommend to the reader is to take the time to compare the various offers including their limitations, take into account the percentage of money they will receive back with their bet refund and pay attention to the minimum odds required to activate it.

It must be remembered that the cashback betting bonuses by law have a maximum ceiling that bookmakers can reach and even the first deposits have a minimum amount requested by the customer. These parameters are important, keeping an eye on them will make the job much easier. This guide to managing your betting budget will be a useful addition.

The main characteristics of a cashback betting bonus are mainly four:

1. ✅ Maximum Refund
2. ⏱ Validity
3. ⬇ Minimum Quota
4. 📈 Volume Requirements

Among the bookmakers offering the best conditions to access betting cashback, we highlight our top bookmaker PokerStars Sport (formerly Skybet):

Maximum refund you can get

The maximum refund that can be obtained on betting cashback depends on the offer proposed by the bookmaker, normally the cashback bonus does not exceed 100% of the amount played, therefore betting sites put a limit on the amount of money maximum eligible for reimbursement. Many promotions can push this limit much higher as long as the customer maintains a constant volume of play. An example of a very high refund is certainly the Bodog welcome offer which can go up to CAD260, however this amount is diluted in blocks over time where each block requires a certain wagered amount to be paid out.

In conclusion, although the maximum refund is an important component of the betting cashback bonus, we believe that there are higher priority parameters to take into account.

Validity and minimum fee

These parameters include the validity of the offer and the minimum amount required for the bet to activate the cashback promotion.

As shown in the offers above, when the various promotions are activated they normally have a deadline of 7 days (but some even of a month); after this deadline, the offer is deactivated and the bonus obtained is withdrawn from the account.

This deadline can also be repeated if the amount is divided into periodic blocks, so we advise you to read the bookmakers' terms and conditions carefully.

Betting portals are obliged to set a minimum odds at which their offers are usable, otherwise the cashback bonuses would be used on low-risk bets with an even lower margin of income for the company. However, this does not mean that the player is at a disadvantage, all the promotions we have illustrated have a minimum odds no higher than 2.00, a limit that allows for a reasonable profit without being a high-risk bet.

Based on the minimum quota indicated and the percentage of cashback offered to its new members, our experts have identified 22bet as one of the best bookmakers currently available on the market:

Volume requirements

The play volume requirement is usually expressed as a number that indicates how many times the bonus value must be wagered. This can be, for example, only 1x, 10x or 30x the bonus amount.

Cashback Bets, such as Sports?

The top bookmakers listed on this page offer on their online pages the possibility of betting on the most varied sports, from football to basketball, from tennis to cycling, to switch to the UFC, golf, motorsports and horse racing.

The cashback betting is offered as a promotional offer or bonus on football and most of the sports mentioned above.

Depending on the betting portal there will be different special events, both for the casino side and for the sport, while the markets available are so numerous that it is really difficult to list them all. There are certainly more convenient events than others but it's up to the player to decide which ones are more suitable for him based on his budget and game preferences.

Advantages and Disadvantages of Cashback Betting

Being able to have a refund by placing your online sports bets is the dream of every bettor, especially when approaching the most anticipated matches or events.

That's why best bookmakers decided to focus heavily on cashback betting. Cashback is not a recent invention, in fact, it is one of the bonuses, one of the most tried and tested promotional practices appreciated by consumers who are more attentive to savings opportunities.

In general, the advantages of cashback betting offer mainly lie in:

However, cashback betting promotions have some negative sides that could discourage the player from taking advantage of them, but there are just as many advantages that will improve the gaming experience.

The biggest disadvantage is certainly the amount of obligations to follow to keep the promotion active such as deposits or minimum odds, however knowing that your investments are safe thanks to the cashback bonus bets in case of loss removes one of the biggest anxieties of players .

Frequently Asked Questions Cashback Betting – FAQ

❓ Which bookmakers offer the best betting cashback bonus?

Our experts have reviewed the best bookmakers that offer the betting cashback bonus, selecting Bodog as the site that offers the most convenient specific promotion today.

❓ What is a cashback bonus on lost bets?

A lost bet refund bonus consists of refunding a percentage of the amount that the player has lost in the form of playable money on the site; the percentage varies according to the proposed offer.