Cashback Wednesday at BorgataCasino.com
Today is the last day in February, and falling midweek, it’s not a great day for bonuses at NJ online casinos. By the time Wednesday comes around, the past weekend’s bonuses are mostly over, while next weekend’s new bonuses are yet to be posted. This Wednesday your best bet may be the daily bonuses at Harrah’s and 888 Online Casinos described in my 2/27 post. Otherwise it’s slim pickings for bonus hunters, but here’s an offer that might interest BorgataCasino.com players: Cashback Wednesday.
Borgata Online Casino hasn’t updated its promotion page in a while. In fact, their long-gone President’s Day Bonus of February 19 is still posted. Hopefully, the start of March will bring some exciting new offers not only from the Borgata, but from all of the NJ online casinos. But until then, it’s reassuring to know that if you play on BorgataCasino.com the last day of February and luck doesn’t go your way, the casino has your back. You will receive a cashback bonus amounting to 20% of your net loss for the day, up to $100.
How to Participate in the Cashback Wednesday Promotion at BorgataCasino.com
If you would like to play at BorgataCasino.com on Wednesday, February 28 and possibly be eligible for a cashback bonus, here is what you need to do.
- Log into your BorgataCasino.com account.
- Go to the Promotions tab and opt into the Cashback Wednesday
- Make a single deposit of $100 or more the same day.
- Play your favorite games.
All of your play from the time of your deposit to 11:59 p.m. counts. If the result is a net loss, on Thursday, March 1, the casino will credit your account with 20% of your net loss, up to a maximum of $100. You will only receive a bonus of $100, if your net loss amounts to $500 or more. If your loss is for a smaller amount, your bonus will be prorated accordingly. For example, if you lose $100, your bonus will be $20. If you win, you won’t receive a bonus.
Why Cashback Wednesday is a Good Offer
This is a bonus you hope you won’t qualify for because naturally, a much better outcome would be to win. Also, if you don’t win, the casino is only returning 20% of your loss. So unless you get very lucky the next time you play, 80% of your earlier loss still stands.
On the other hand, the 20% cashback bonus is a much better deal that you will usually be given as a loss rebate bonus. For starters, the typical rate of return is 15% or less, so just from that standpoint, a 20% bonus is superior.
More importantly, this is a cashback bonus, not a playback bonus. If you wish, you can withdraw the bonus immediately with no further play required. This might actually be a good idea, giving you a chance to take a breather, rather than chase your losses while you might still be in the throes of a losing streak. In any case, you decide when you are ready to resume playing and to what extent.
Cashback vs. Playback Bonuses
At the same time that BorgataCasino.com is offering Cashback Wednesday, three other casinos, which I’ll call casino A, B, and C, are offering a playback bonus. Lets look at the terms and conditions of each of those offers.
The promotion lasts four days. Players who show a net loss after wagering $50 or more will receive a playback bonus of 15% up to $50. They must then wager the bonus 1x, after which they can keep the winnings if any, but not the bonus itself.
The promotion lasts three days. Each day you incur a net loss after wagering $50 or more, you receive a percentage of your net loss back in the form of a playback bonus. The percentage is based on how many days you play. If you only play one day, it’s a 5% bonus capped at $20. If you play two days, it’s a 10% bonus capped at $30. If you play all three days, it’s a 15% bonus capped at $75. The bonus must be wagered 1x, after which the player can keep the winnings, if any, but not the bonus.
The casino describes this Wednesday only bonus as a cashback bonus, but in reality, it is also a playback bonus. First, a deposit of $40 or more is required, which must be wagered 3x. If the result is a net loss, the player will receive a 10% bonus, capped at $20. Both the bonus and any resulting winnings are ultimately withdrawable, but not immediately. First, the player must wager the bonus 30x.
The Borgata offer is clearly by far the best of the bunch.
It remains to be seen whether the same offer will be extended for March, but one thing is for certain. This is positively your last chance to take advantage of Cashback Wednesday at BorgataCasino.com in February.