Bonus Back Days at Borgata Online Casino
No one wants to start off the New Year losing, but it can happen, in which case Borgata Online Casino hopes its Bonus Back offers will soften the blow. In fact, two separate promotions at BorgataCasino.com include a special bonus exclusively for those who have played that day and lost. The Saturday, January 13 offer is a Playback Bonus, while a repeat offer for every Wednesday this month is for a Cashback Bonus.
Difference Between a Cashback Bonus and a Playback Bonus
A growing trend at NJ online casinos, not for the better in my opinion, is to “reward” players who lose with either a Playback Bonus or a Cashback Bonus (also called a Payback Bonus). Either way, a small percentage of the player’s net loss incurred during the promotion period is credited back to the player’s account in the form of a bonus. However, with a Playback Bonus, there are wagering requirements for the bonus, too. Once this wagering is completed, the player is free to withdraw any resulting winnings, but not necessarily the bonus itself. A Cashback Bonus, on the other hand, can be withdrawn immediately, with no further wagering requirements if the player so desires.
All of the Playback Bonuses at TropicanaCasino.com and VirginCasino.com are “sticky” or, in other words, not withdrawable. But at least it’s risk-free since the wagering requirement is a tiny 1x the bonus. If the player continues to lose betting the bonus, only the casino’s money is lost and not any more of the player’s own money. You can expect to face a bigger wagering requirement with accompanying further risk to your bankroll when the Playback Bonus is withdrawable.
None of These Offers Are Great, But Some Are Better Than Others
Tropicana and Virgin Online Casinos may have been the first to offer a bonus back deal, but now other casinos are jumping on the bandwagon and taking frequent advantage of this cash cow (for them), too. If you are considering opting into a Playback Bonus or Cashback Bonus promotion, the first thing to look at is the percentage of your net loss that the casino is willing to return. If it’s extremely small (i.e.,10% or less), it is probably a waste of time. Also, other things being equal, a Cashback Bonus is preferable to a Playback Bonus since there are no further playthrough requirements, When comparing Playback Bonuses, a redeemable Playback Bonus is better than a non-redeemable one for the simple reason that it gives you more opportunity to win with it.
Saturday Bonus Back at BorgataCasino.com
The Saturday Bonus Back offer is a redeemable Playback Bonus. The offer is good for today, Saturday, January 13 only. In order to be eligible for this offer, first you need to deposit $100 or more. Then, if your play today on any game using that deposit results in a net loss, the casino will return 20% of your net loss back to you up to $100 in the form of a Playback Bonus. Unfortunately, the bonus comes with an additional hefty wagering requirement, but there’s a possible light at the end of the tunnel. When all is said and done, you get to keep both the bonus (or what’s left of it) and any winnings. If you’re lucky, you might even win enough to offset your loss.
How to Participate in the Saturday Bonus Back Promotion
If you plan to play on BorgataCasino.com anyway today, you might as well opt into this promotion. Hopefully, you will win, but just in case it’s not your lucky day, here’s what you should do to cover yourself.
- Log into your BorgataCasino.com account.
- Go to the Promotions tab and opt into the Saturday Bonus Back
- Then go to the Cashier tab and make a single deposit of $100 or more.
- Play any game you wish.
If your play from the time you opt in to 11:59 p.m. tonight results in a net loss, immediately upon expiration of the promotion period, you will receive a bonus back into your account equal to 20% of your net loss up to $100. In other words, in order to receive the maximum bonus of $100, you would need to lose $500. If you lose less than $500, your bonus will be prorated accordingly.
Wagering Requirements for the Saturday Bonus
If you receive a bonus, you then have just 24 hours to meet the casino’s wagering requirement of 15x the bonus. Any game is okay and counts 100%. While clearing the bonus, the bonus money is wagered first and then your deposited money. You also earn loyalty points on all wagers, including those with the bonus money as well as your own money.
While the bonus playthrough is in progress, your $100 deposit, the bonus, and any resulting winnings are all locked into your account. However, upon completion of the wagering requirements, assuming it is within the allotted time period, all of this money becomes available for withdrawal. Failure to complete the required wagering within 24 hours or any attempted premature withdrawal of the bonus or funds locked into the bonus will result in forfeiture of both the bonus and any related winnings.
Wednesday Cashback Bonus at BorgataCasino.com
In addition to today’s Bonus Back deal, every Wednesday in January, BorgataCasino.com is offering a Cashback Bonus. This offer also requires your making a single deposit of $100 and wagering it on any game. Then, at the end of the day, if your play results in a net loss, the casino will again give you a bonus equal to 20% of your net loss up to $100. However, unlike the Saturday bonus, the Wednesday bonus comes to you free and clear with no further wagering requirements. If and when you want to wager it, you are free to do so. Or, if you prefer, you can just withdraw the money and take a breather.
How to Participate in the Wednesday Cashback Bonus Promotion
Any Wednesday in January would be a good time to play because if you lose, this promotion guarantees you 20% of your losses back with no further obligation. Here are the steps to follow in order to be eligible.
- Log into your BorgataCasino.com account any Wednesday in January, 2018.
- Go to the Promotions tab and opt into the Wednesday Cashback Promotion.
- Then go to the Cashier tab and make a single deposit of $100 or more.
- Play your favorite games.
If your play results in a net loss, you will receive your 20% Cashback Bonus the following day. It is available for immediate withdrawal.
Are the Saturday and Wednesday Bonuses at BorgataCasino.com Good Offers?
The Wednesday offer is better, obviously, because it gives you control over when and how to use the bonus. Sometimes the best thing you can do after a losing streak is take a break for a few days rather than risk chasing your losses. Maybe you are tired from playing too many hours at a stretch and could use a break anyway. Also, a person in the throes of a losing streak might be playing impulsively and not be making the best decisions. Some people play too aggressively and wind up losing even more; others play too conservatively for fear of losing more and then don’t fully capitalize on their subsequent good luck. Unfortunately, the Saturday Bonus Back promotion gives losing players no choice but to chase their losses since the bonus must be wagered 15x in the next 24 hours.
The nice feature about both bonuses is that you get to keep them. So, with better luck, you have plenty of opportunity to offset or at least minimize your losses. Getting 20% back on one’s net losses is also more generous than the percentage offered by most Playback and Cashback offers. At the end of the day, unless your luck completely turns around, you still show a loss, but at least the bonus gives you a realistic chance for a better outcome. The cap on the bonus of $100 should be taken as a warning if one is at or approaching a loss of $500 that it’s time to quit for the day before the loss becomes insurmountable.