In most cases, a cashback bonus is bonus money and in a rare case it’s real cash, real cash can be paid out immediately. Bonus money is subjected to bonus terms and conditions, just like other casino bonuses.
Think of wagering requirements, maximum bets, and maybe even limitations to casino games where the bonus money can be used. We have to mention that the bonus T&C’s for a cashback bonus is much lower than for a welcome bonus or a no deposit bonus.