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how are net losses worked out on cash back promos?

Discussion in 'Online Casinos' started by Rick Deckard, May 29, 2014.

    May 29, 2014
  1. Rick Deckard

    Rick Deckard Experienced Member

    Occupation:
    IT
    Location:
    UK
    I opted in a cash back promo, that gives you 10% of your losses back, up to a max of £50.

    And i wanted to know how its worked out. I got £11 cash back from 10% of a £110 net loss.

    I asked the live chat (below) and it says something like your total stake minus your total winnings.


    " Me: how is the net losses worked out please

    Live chat: so when you were playing you stake in total :- 3767.33 from this you recieve back over the time you were playing 3617.33 giving you net losses of £110 "


    Which i kind of get it, but don't fully get the gist of. Is this net losses based on the amount you deposit. For instance if I had deposited £500 and lost it would that of gained me the max £50 cashback or is it something else entirely?

    My first deposit was £15 and I got that up to a balance of over £700. Lost that, then made a few more small deposits and lost those too. But i wrongly thought that i would get the (max cashback £50) from the £700 i lost.

    I'm not complaining or moaning, I just want to understand the 'how its worked out' method for if i opt in another cashback promotion in the future.
     
  2. May 29, 2014
  3. BMWSTACK

    BMWSTACK Ueber Meister

    Occupation:
    Work
    Location:
    US
    I've always understood cash back to be based upon deposits lost, not about losing winnings. So if ou deposited a total of 50 and lost it 10%= 5.
     
    1 person likes this.
  4. May 29, 2014
  5. nikantw

    nikantw Ueber Meister MM PABaccred

    Occupation:
    A bit of this and that
    Location:
    EU
    If your 700 was achieved inside the promotion period, it is money “won”, not “lost”, isn’t it?

    But if you enter the promotion period with a balance of 700, and deposit 300, and exit the promotion period with a balance of 600 (no withdrawals), that means you have lost 400 (700 + 300 = 1.000, 1000 – 600 = 400 lost). So the 10% cash back would be 10% x 400 = 40.

    Now, in the above example, sometime during the promotion period your balance could have gone over 1000 (initial balance + deposits = 1000), let’s say it got up to 5.000. It doesn’t matter for the calculation of the cash back. Because even though you did lose the 4.400 of that 5000 (to get to the 600 final balance), 4000 of it was money won during the promotional period, so it doesn’t count.
     
    1 person likes this.
  6. May 29, 2014
  7. spintee

    spintee Meister Member webby mm2

    Occupation:
    gambler :)
    Location:
    Northants
    I take its what you deposit, For instance if you deposit 100, and lose it all you net loss is 100, 10% of 100 = £10, So if you lost all your deposits and received 11 cash back It should be that you made a total deposit amount of 110?

    If you deposit 1000 and take out 500 your net loss would be -500 = 10% of 500 = £50

    if you put in 100 and took out 90 than you net loss would be -10 = 10% of £10 = £1

    Its not what you have won and spent its about what you have put in and took out, Video slots is doing this diffrent, You can put in £10 and win thousands and spend thousands, They are giving you 25% of there profits back to players, the more you spend the higher your % will be, no matter how much you put in,
     
    1 person likes this.
  8. May 29, 2014
  9. Tirilej

    Tirilej Still a Lady CAG

    Occupation:
    Breathing
    Location:
    Sweden
    I believe they are calculating it the same way as they do with RTP.

    The 700 wasn't yours to begin with. What I didn't understand is why you didn't cash them out.
    That is what I would have called cashback :D


    Also different casinos are using cashback in different ways, so make sure you know what they mean the next time.
     
    1 person likes this.
  10. May 29, 2014
  11. Nate

    Nate Ueber Meister CAG webmeister

    Occupation:
    Monster
    Location:
    Cyberspace
    Most Casinos calculate it like this:

    Deposits - Withdrawals - Bonuses = Net Loss.

    There could be other variables.

    Nate
     
    1 person likes this.
  12. May 29, 2014
  13. Rick Deckard

    Rick Deckard Experienced Member

    Occupation:
    IT
    Location:
    UK
    Thanks guys I get it, its a percentage of your lost deposit only. Yes I checked deposits made over the promo period and it was £100 with £10 free money dropped in inbetween.

    I might try Video Slots casino thanks for the info Spintree.
    Normally I would cash out at that amount and leave a 100 in to start a fresh with lower stakes. But I was taking a risk I would hit another big-ish win which didn't transpire. Come on, we've all done that I'm sure.

    So my lessons learned today are some cash backs are better than others. And set a limit to withdraw at then play a little amount left in and calmly lower my bet size for a second chance. Simples in theory :cool:
     
    1 person likes this.

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