Need help with cashback offers, how to play them 'optimal'?

Zoozie

Ueber Meister
PABnonaccred
CAG
Joined
Dec 1, 2005
Location
Denmark
I know that for sticky/phantom bonuses the following document shows how to play them optimal for different games:
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.

What is interesting is that the optimal strategy, most often, is not just betting the max.

However in the case of cashback bonuses what strategy should you use? Is there a similar 'optimal' strategy?

I am asking this because I have heard several players claim that even a 10% cashback is a very good deal. I am not talking about the 'slot loss only' cashback offers, but cashback offers where all games are allowed.

The best strategy I can come up with is simply just to bet the whole deposit in one hand in blackjack etc, in case of a push then just repeat. (This also sets the limitation that you can not deposit more than the maximum bet each hand.) Using this strategy adds about 10%/2=5% to the payout% which then is +EV for blackjack. If you win, withdraw all. If you lose, then withdrawal the cashback amount when you get it. But for the phantom bonuses, the optimal strategy was not betting the max, so is something like that also the case here?

So is this the best way to play a cashback bonus? I do not like the very high variance from this play. (double or 'almost bust') And I am not that impressed with the EV. I would prefer a strategy with much lower variance also. Besides using this strategy also makes it too obvious that you are 'taking advantage' of a bonus.
Zoozie
 
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