Maybe you've come across a term "lossback" or "betback" and you're wondering what definitions are behind these words. Here you will find out and which casinos offer it.
Usually casino provides their betbacks and lossbacks in VIP program that may be tiered so not everyone will get same percentage of bet amount back. These added rewards are here for mainly regular players or high roller players as they will make bigger turnover thus getting better reward deals.
What is Betback?
For every bet placed, a percentage of that bet will be paid back to the player.
You place a bet of 100 chips.
Regarding your level you're getting 0.1% betback.
Reward: 100 x 0.1% = 0.1 chips
Although betback looks like a very marginal benefit for a player, in the long run it can be quite of a difference. And as a frequent player you want to look for added value.
What is Lossback?
Lossback is part of the losing bet that will be rewarded back to your balance. But you have to keep in mind that your overall profit in given casino has to be negative (as a winner you're not qualified for lossback)
You place a bet of 100 chips. You lose.
Regarding your level you're getting 3.33% betback.
Reward: 100 x 3.33% = 3.33 chips
Which casinos offer betback and lossback?
We will focus specifically on only one casino and that's Betcoin.ag. There are several other casinos providing these, but they don't seem to be enough trustworthy. Or betbacks can be part of their short-term promotion.
Betcoin.ag VIP program consist of many levels starting on Bronze III.
Once you start playing, you will receive status depending on your points you collect.
1 chip bet = 0.05 status points in Casino, 0.1 in Sports and 0.025 in Dice
And 1 BTC = 1000 chips (current rate)
Rewarded points from your betting will be credited to your separate balance.
That's everything about how betbacks and lossbacks work, we hope it clears up the difference and now you can decide if it's worth it for you to be collecting points on Betcoin.ag. They currently running other promotions, so give it a go and check all the rewards you can get from them.