A Cashback Bonus is a common kind of reward in online casinos. It enables players to receive a certain percentage of their losses back on their bets. The amount received back varies from casino to casino and often depends on loyalty tier status. It works as an insurance for the players, allowing them to minimize their losses or gain an extra advantage. This bonus can come in different shapes and forms, so it is important for the players to read the Terms and Conditions of the casino before opting-in.