Wagering requirements for withdraw - page 36.

inthelongrun

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Quote from: Little Mouse on April 12, 2023, 07:59:18 AM

Quote from: logfiles on April 11, 2023, 07:59:47 PM

"The wagering requirements are put in place so that you don't use our platform as a money laundering service" is what they always say.

It's not a false one. Imagine there's no wagering requirement on deposit. You will be able to use them to break the blockchain link, as they say you can use the casino as mixer. Well, 1x wagering isn't really something big when you play for a little time. It's too easy to chase, though OP's casino has a weird 5x requirement.

Money laundering is a serious problem and it is valid enough for regulators to ask these casinos to comply and make wagering requirements on deposits before allowing them to withdraw. But a 5x wagering requirement is crazy. Most betting sites I encountered only ask me to wager once.

But maybe OP wagered once using very low odds like 1.05. I wonder if very low odds are enough for casinos to allow withdrawals. They might want you to bet 20x with an average odds of 1.05 in order for withdrawals to be allowed.

yayayo

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Sometimes you really need to know the terms and condition of the gambling sites, some of them really have information about something like that and they know that most of the players are not reading the long ToS that's why they fall for it. I see it as deceiving the players and you should really avoid that kind of gambling site, the 50x wagering requirement is not that easy and there's really a high chance that you'll lose it.

I think it's part of their strategy.

ya.ya.yo!

Little Mouse

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Quote from: GxSTxV on April 11, 2023, 07:42:56 PM

What truly concerns me is the 5X wagering requirement on normal deposits without any bonus in order to withdraw the initial deposit or winnings.

Wagering requirements on deposit amount is quite common and practiced by almost all the casinos. But 5x wagering seems quite high, usually, I have seen 1x wagering most of the times. Flush.com has 1x wagering requirement on the deposit.
You should always be checking the terms when you join a casino. It's your responsibility of course. Do this practice and make sure not to join a lot of new sites lol.

Quote from: logfiles on April 11, 2023, 07:59:47 PM

"The wagering requirements are put in place so that you don't use our platform as a money laundering service" is what they always say.

It's not a false one. Imagine there's no wagering requirement on deposit. You will be able to use them to break the blockchain link, as they say you can use the casino as mixer. Well, 1x wagering isn't really something big when you play for a little time. It's too easy to chase, though OP's casino has a weird 5x requirement.

Fivestar4everMVP

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Quote from: GxSTxV on April 11, 2023, 07:42:56 PM

To clarify things better here is an example : if you were to deposit $1000 and win $200 in your first few games then you wouldnt be able to withdraw your winnings or even your deposits without wagering at least $5000. This means that 80% of the time, you would lose your money before reaching the required amount.
In my opinion this term is unfair. I am not attacking any specific casino, but I do believe that if users were aware of these requirements they would be less likely to deposit their money in such casinos since there are other casinos without such stringent requirements.

My first time of getting to know about a thing as this, this is completely unfair and I could possibly tell that a casino with such a term is being managed by criminals.

@OP, This thread would have been more informative if you mentioned the name of the casino in question, so that some of us do not end up making the same mistake you made on this same casino, on the few casinos I've played on, including Stake.com, never encountered such a rule, so for me, there is absolutely no reason whatsoever, a casino should impose such a high wager requirements for withdrawals on its customers, its an act of robbery, and such casino should be boycotted.

Russlenat

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Quote from: acroman08 on April 12, 2023, 07:31:34 AM

Quote from: GxSTxV on April 11, 2023, 09:55:02 PM

Quote from: bittraffic on April 11, 2023, 08:50:34 PM

Welcome to scam casino.
Why not just name the casino to warn everyone here who plans to claim bonuses

I wouldn’t call it a scam, beside that i didn’t make a deposit yet. The whole story started when i got the no deposit no wagering required bonus from them and i managed to make a profit of it. I didn’t know that they require a deposit and to wager that deposit by x5.
The casino is Trustdice and also known here. But i believe that many users aren’t aware of their terms.

Anyway i may try to make a deposit just so i can withdraw my winnings. Hopefully they don’t close my account because of this topic now Lol

closing your account for this thread will be ridiculous and would only prove that they are actually a scam gambling site. there is no reason for an account to be banned/closed because they are being called out about their ridiculous wagering requirement for a non-bonus deposit.

If a user raises their concerns and the website decides to close their account, it would be a sign that they are a scam site. However, I am confident that they will not do this, as they are aware of the size of the bitcointalk community. Once evidence of a scam is presented, DT members here will likely tag their account.

acroman08

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Quote from: GxSTxV on April 11, 2023, 09:55:02 PM

Quote from: bittraffic on April 11, 2023, 08:50:34 PM

Welcome to scam casino.
Why not just name the casino to warn everyone here who plans to claim bonuses

I wouldn’t call it a scam, beside that i didn’t make a deposit yet. The whole story started when i got the no deposit no wagering required bonus from them and i managed to make a profit of it. I didn’t know that they require a deposit and to wager that deposit by x5.
The casino is Trustdice and also known here. But i believe that many users aren’t aware of their terms.

Anyway i may try to make a deposit just so i can withdraw my winnings. Hopefully they don’t close my account because of this topic now Lol

closing your account for this thread will be ridiculous and would only prove that they are actually a scam gambling site. there is no reason for an account to be banned/closed because they are being called out about their ridiculous wagering requirement for a non-bonus deposit.

ufaiz50

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That's really a high wagering requirement. I understand that they implement that kind of requirements in order to avoid money laundering but I think that x50 wagering requirement is really high for most of us usually I think x5-x10 is acceptable but x50 is really a high wagering requirment. I played in some gambling sites before and I try their promotion and their only wagering requirement is x30 which is doable consider that I receive a promotion money that I need to wager first but this x50 wagering requirement is your own money. For me I think it is really not acceptable and there's no way I would play in that site, may I know the name of the gambling site?

coin-investor

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Quote from: Rating Place on April 12, 2023, 12:28:52 AM

5x is insane. Which casino? 1x is normal.

Gamblers should be aware of this that there are casinos that require that number of wagering, 5x is not reasonable the possibility of losing is very high before you reach that requirement although this is not an accusation its good that OP posted it for our awareness 1 or 2x times is already good but its better than OP named it this is a big trap and will hostage your money before you can withdraw your earnings.

This is one reason why you have to read the casinos' TOS it may be a long read because some casinos have a long TOS but it will get you out of a possible trap in the future.

death69

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Whoa, whoa, whoa! Seems like someone was too stoked to hit the casino and missed the itty-bitty details! No sweat, buddy, we've all been there. Sometimes we're just itching for the action, and those pesky i's and t's slip our minds. Here's the dealio: casinos aren't running a charity for free dough. Sorry, but that's not the game they're playing. They might reel you in with a sparkly deposit bonus or a sweet welcome offer, but there's always a twist.

And guess what? That's all good! 'Cause casinos aren't in it to mint you into a profitable gambler. They're here to dish up a fun and electrifying experience. So, when you're thinking of throwing some dough into a casino, remember: it's about the thrill, not the bankroll. And who knows, even with those tricky wagering requirements, you might just hit the big one! Score the jackpot, walk away with a fat stack, or just have a blast playing games and shooting the breeze with other players. Either way, it's all win-win, my friend!

_act_

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There are casinos that you can deposit and withdraw all your deposit.
On many other casinos, if you win, you will be able to withdraw.
On some other casinos, they have low amount of time to gamble before users would be able to withdraw.

A casino that requires 5x win or so or more is only finding a means to make sure its users are not able to withdraw but lose all their gambling money. I do not expect any gambler to use this type of site.

It is very good to read casino terms and conditions before you deposit money into any gambling site.

len01

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that is the reason why every gambler must read the T&C that apply to gambling platforms, even though I myself sometimes still forget not to read the T&C before starting to gamble in a casino that I didn't know about before.
I think I know the casino you mean.

I used to bet at a certain casino and I didn't read the T&C after that I got some wins and wanted to withdraw my funds but the casino refused. after that i tried to contact service support and they said i have to bet 5x of my deposit amount.
after that i got the hang of it and i made my bet in sports betting and made it to bet 5x of the deposit amount.

with this incident I don't think that the casino is unfair or a scam but I was careless not to read the T&C before placing a bet. after all, casinos have rules that must be obeyed, and if we are careless, we don't read these rules and get rejected, it's our fault.
so to be honest i completely understand the casino. because every casino has its own rules and we as gamblers must comply with these rules.

so for me the rule is natural not a problem and in fact the casino is still popular today.

panjul07

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Quote from: GxSTxV on April 11, 2023, 09:55:02 PM

Anyway i may try to make a deposit just so i can withdraw my winnings. Hopefully they don’t close my account because of this topic now Lol

You should ask more details about the wagering requirement rules of your deposit first if you are going to make a deposit.
I'm just worrying that not all games are counted toward the wagering requirement, but if all games are counted then I think you can wager 5x without losing much by playing the dice game.
However if not all games are counted, I suggest you not to make deposit to withdraw your winning from their promotions as it might be something not worth.
The decision is on your hand ofc, if you think that it is worth the risk to deposit and wager it 5x to withdraw your winning, you can go.

Cantsay

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Quote from: Helena Yu on April 12, 2023, 02:06:32 AM

~~~
This is the Trustdice representative account Coinbox1, you can leave them negative feedback if you think they're scam.

You don't just use the trust feedback without conducting proper investigation and having enough proofs to back the reason why you left them with negative trust.
So in Op case a negative trust is not proper as it was Op who failed to read through their ToS so if he should tag them he(Op) might be accused of abusing the use of trust, I hope you get what I'm saying.

Like I said in my previous reply all I see this thread doing is creating awareness to those that were ignorant of something like this about the casino. 1x or at most 2x wagering requirement should be more than enough to achieve what the casino wants unless they just don't want people to be able to withdraw easily from their casino, that's the only reason I can think of why they would set such requirement.

Eureka_07

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Quote from: GxSTxV on April 11, 2023, 07:42:56 PM

Casinos does place wagering requirements regardless of how you got your funds. Except maybe for special ocassions like you got credited as you won from one of their promotions.
In your case, you should not be shocked that you need to wager certain amount first before being able to withdraw. Just like what others mentioned, 5x wagering requirement for fund which came from a deposit (without any bonuses acquired) is a bit higher compared to normal. In my experience, from casinos which I am playing, the wagering requirement is only 1x most of the time.

KiaKia

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I can't imagine seeing myself in the same situation as you are now OP, that sucks and yea it's unfair.

This is why I believe that online casinos can get away with anything if you failed to read and understand their ToS rules before using the casino, I hope you have learned your mistakes from this.

Terms of Service always have important information that can make you decide to use the casino or to stay away from the casino, to avoid stories that touch like this, always take your time to go through the Terms and Conditions of any online casinos first, before you start gambling.

Kakmakr

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I think a lot of the casinos are doing that, because they want to prevent money laundering through their casino. The criminals that are doing money laundering want to maximize their profits, so a 5% loss will scare them off and they will rather go to another casino where they get 100% returns on their deposits and withdrawals. Roll Eyes

There should be some feature where they void the 5% ..if you gambled a certain amount of money on the site. Let's say you wagered $1 000 000 on the site with games with a higher house edge, then that restriction falls away. Roll Eyes

Wiwo

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5x wagering requirements on deposits is quite unacceptable and should be avoided in all senses of it even though we may have some casinos involved in this kind of shady behaviour we should constantly try to call them out, it's clear that the deed has already been done in your case since you failed to read the terms and conditions of the casino before you make the deposits.

Just as Yahoo has stated anything more than 1x wagering requirement on deposits is already a suspicious move and should be avoided because 1x should be the base limit to avoid money laundering through the casino, but then not x5 which is a clear point to funds confiscation because there is no way you are going to make it out without losing to the house at some point.

Mauser

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Quote from: GxSTxV on April 11, 2023, 07:42:56 PM

In my opinion this term is unfair. I am not attacking any specific casino, but I do believe that if users were aware of these requirements they would be less likely to deposit their money in such casinos since there are other casinos without such stringent requirements.

Unfortunately these requirements are part of the game and we can't really get around them. All casinos need some form of terms and conditions to protect themselves against exploits. A casino that offers deposit bonuses without restrictions on withdrawals can have a big problem if gamblers pull out all their money after only one round. I think it's pretty common for casinos to have a x5 waging minimum requirements on their bonuses. I kind of got used to them and never really try to withdraw any winnings instantly. But having requirements on our normal bankroll without bonuses is a bit harsh in my opinion, especially if it's x5. There can't be much done now only to learn from the mistake and look more closely next time.

TopTort777

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Quote from: GxSTxV on April 11, 2023, 07:42:56 PM

What truly concerns me is the 5X wagering requirement on normal deposits without any bonus in order to withdraw the initial deposit or winnings.
In my opinion this term is unfair.

This isnt just unfair, that is a pure robbery. I dont think there is a single person who can or a strategy that will work to wager 5X without any losses. I am for casinos having a wagering requirement to prevent users using casinos as mixers or to laundry their dirty crypto, but 5X is a big no for me. Specially when the casino does not give any deposit bonuses.

OP what is the name of the casino you are talking about ? No need to hide those "heroes", their name should be public. Specially if they hide that 5X rules in ToS and does not put a huge warning banner when making a deposit.

FatFork

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Totally feel you on this one! It's pretty shady to have those crazy high wagering requirements without even offering a bonus. Feels like they're trying to trick people into depositing more and more money without giving them a fair chance to win anything. I get that it's a casino and all, but come on, let people withdraw their winnings without jumping through hoops! I know it might hurt the casino's bottom line a bit, but they're already raking in the dough with that house edge, so it's not like they're hurting for cash.

Personally, I think a 1x wagering requirement is more than reasonable for a deposit without a bonus. And I think most people understand that it's part of the deal when they deposit money into an online casino. The good news is that there are plenty of options out there with lower or no wagering requirements, so it's always a good idea to do your research and read the ToS before depositing any money.

Topic: Wagering requirements for withdraw - page 36. (Read 4805 times)