A welcome bonus is the bonus you get from an online casino when you make your first deposit. Welcome bonuses tend to be the biggest offer you will receive from an online casino, as they are used as a way to attract players and convince you that their casino is worth joining.
All welcome bonuses will include a cash element, usually a 100% bonus up to a certain amount (rare ones will even be at 200%). Some may also include free spins. The cash element may be for a single deposit, or tiered over a number of deposits, like your first three deposits at the casino.
What is a cashback bonus?
Once in a while you may encounter what is called a cashback bonus. This type of bonus is unique in that it awards you money back for losses you may have incurred at the casino.
As opposed to a deposit bonus, this one has to do with how much you have wagered, rather than how much you have deposited. For example, the promotion may be phrased something along the lines of “Get 20% cashback up to $100 this weekend only”. So if you wagered $500 and lost it all, you would get the full $100 back. If you wagered just $100 and lost it all, you would get a $20 bonus, i.e. $20 cash back.