Topic: Wagering requirements for withdraw - page 7. (Read 4805 times)

I agree that online casinos are not a good why to launder money, but traditional based casinos are a different story. Because there was one big news here last 10 years ago that a criminal group has been laundering their money thru casinos and the government found about it after a thorough investigation.

I know it's not right, but this criminals will want to take advantage of anything that they can get their hands to, just to be able to hid and hide and recycle their money and then it will come up clean without any traces.

it sounds too forced if there is a stupid person who wants to lose his money just has the desire to launder his money in the casino, even though he has a lot of money even though it would be impossible for him to look stupid doing that and forcing high stakes with the risk of losing all his money, out there are many other ways to launder money that rich people usually use.

the casino is not the right place to launder money because it is clearly not the right place, after all this statement is too imposing that there are many stupid rich people out there who want to launder their money through casinos and waste their money there instead of trying other ways that are more reasonable and there is no risk in it.

Lets put aside about high wagering requirement for bonuses as this topic is not created for that case. Let me remind you that this topic is to discuss about normal wagering requirement for deposit without bonus. It has nothing to do with small or big gamblers as this requirement applies equally for both.


Are you sure? I do not know if people who want to launder their money in casino is that stupid to not mind about high wagering requirement.

And when they are surprised, that makes them complain about this everywhere, including in this forum. They said they couldn't withdraw their winnings and accused the casino of not allowing it and that it was a rule that they had to meet wagering requirements before they could withdraw their money. And they say that it doesn't make sense for all of them even though if we examine it again, it's because of their own mistake of not reading the rules.

By making sure we understand the rules, we will be careful if we want to take a promotion and will read all the rules until we understand. We do that so we don't feel trapped by the rules written in the casino.

Really depends from how gamblers look at it but the important thing is you know the grounds and you know what it has to take especially with the wagering requirement, because if you are not knowledgeable about what will going to happen then you will be surprise when you are ready to withdraw your money.

The grounds on how you can move that money is important as it's written from the rules which you should be paying attention before anything else, knowing it will keep you safe from a possible upcoming problem when you are in the process of transferring your money out from the site.

If they are small gamblers, they should not try to enter promotions that require high wagering requirements as they will not be able to meet them and it will hurt them. They also don't need to force themselves to deposit an exceeding amount just because of a promotion they saw. They should know there is no guarantee of winning even if they deposit large amounts of money. And they should deposit small amounts of money and enjoy the moment of gambling and having fun. But those who intend to launder their money won't mind the high wagering requirements since they have plenty of cash.

I've also never heard of any casino that asks for a wagering requirement that is fixed no matter how much you deposit, it generally depends on how much you are depositing and either 100% or 200% is the requirement for you to complete, some casinos ask for even more but they know that gamblers won't accept that and there will be issues so they don't ask for extra, but they would never ask a gambler to complete a fixed wagering requirement.

Also, it's a gambler's responsibility to first read the terms and make sure that the wagering requirement isn't so high because if they don't read them and then face an issue, there won't be anything they can do other than comply with their rules and complete the wagering requirement asked by them.

Whatever the purpose in gambling, one should be aware of the wagering requirements. It's not a problem for gamblers who are really serious about gambling, as they can easily meet the wagering requirements. However, there are some gamblers who chicken out when they lose or win small amounts. They always want to withdraw something, and the sites have already recognized this, so they set wagering requirements to prevent abuse.

Additionally, we must consider instances where gamblers might want to launder their funds.

An addition on facts since I totally agree on this. High roller typically play more in the casino since they are aiming for huge jackpot win from slots or competing tournaments to win extra profit aside from their VIP rewards. They don’t withdraw frequently their balance since they keep wagering to farm volumes for their VIP and tournament unlike small bankroll players that usually want to withdraw after having small profit.

I watch many livestreamers playing long term once they deposit huge amount. They always wager more than x5 of their deposit since their bets is high as they have a lot of reserves on their exterior wallets.

I feel your pains @GxSTxV and I believe you've learnt some lessons, and I applaud you for accepting your fault because alot of person instead of taking blames of their wrong act would try to call out the casino site and make them look unreliable, therefore people should start taking accountabiliy of their mistakes and also this should serve as a lesson to everyone here who gambles to learn from, before signing up in any online platform or company it is advisable that you go through the TOS of such platforms thoroughly to know if it's suitable for you so as not be remorseful when you discover that their conditions is not okay.
 I belive you got carried away by the huge bonus offered by the site, well thats a strategy most online sites use in attracting customers to themselves, if only you had gone through their TOS before signing up, i believe others might have made explanations of what TOS means but let me make a further explanation for people to understand better, it's another word for terms & conditions and an acronym for term of service, which also refers to the rules and regulations that is given to people when signing up for an online platform, so carefully go through it, study the requirements and see if it's agreeable before accepting to register for any particular platform.

High rollers, who make larger deposits and place bigger bets, might find it easier to comply with the wagering requirements respective to players who deposit smaller starting bags. This may actually be intended so that cassinos and sites filter to only the people who are actually in to play and not to run if they manage to break the odds very soon in their membership time.

They do actually have an ANN thread on here if we do speak about Betfury.
https://bitcointalksearch.org/topic/betfuryio-stellar-network-xlm-bfg-farming-on-babyswap-5276159

but checking out OP's trust feedback then i wont recommend on touching up this casino.
https://bitcointalk.org/index.php?action=trust;u=2848599

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As for wagering requirement, doesnt matter on what platform or site we are talking, they would really be sharing up on almost the same requirements
or threshold for someone needed up to reach out for them to make out a withdrawal on what they had deposited. This had been always the typical terms and
conditions on what most casino sites as of today because of that money laundering thing on which this had been common.

He mentioned a name of casino "betfury" but I did quick search in betfury, I cant find the information given by above user unless I missed it.
I doubt what he said is correct, he must be misunderstanding the rules in betfury as it does not make senses if the wagering requirement for deposit is fixed to specific amount.
It does not make senses because it will be unfair rule especially for small depositors.
Hope he will come back to confirm, at least to tell us where did he find the information as what he mentioned previously.

In fact, it was important to know in advance the casino platforms that you have acted like fools. You should have researched well before depositing your money into such a crappy casino platform and subsequently paying there. But your sharing this problem with us will be beneficial for all. If there are people who are interested in betting on casino platforms and depositing their money, they should observe well and then be interested in gambling. It is most troublesome if you deposit this amount of money but cannot withdraw later with profit. Because there is no doubt that you might lose your money to get there from the casino platform that promised you. But since you have been given such a promise by the casino platform then you must have a hard time reaching that level. And is it full of maximum risk so you should definitely be aware while betting. And those of us who are currently interested in gambling on casino platforms must analyze well and deposit money later. It will be better if we analyze all these necessary tasks seriously and save money later.

Haven't heard of any casino that has fixed wagering requirements in dollars. Most of the time (if not all the time), they require x1 or more of the deposit amount. So if you only deposited around $20, you'll just need to wager at least $20. On the other hand, if you deposit more, like $1000, you'll also need to wager that very same amount. Can you name a casino that has a fixed wagering requirement in USD?

When it comes to wager requirement, there is always two side to it, one of those sides youve mentioned, and that is the fact that with 3x to 5x wager requirement in place before a user can withdraw after claiming a bonus, it is almost impossible for such a user to win and make a withdrawal at the end of it all, that is, the chances that such user will end up losing all the money, both deposit and the claimed bonuses , is very high..

On the other hand, the other side to this is that, without the casino placing a wager requirement, the associated bonus will surely be abused so hard that it might even bankrupt the casino, most especially if its a new casino just coming up and managing funds..

The solution is that, its not a bad thing for casinos to place a wager requirement for bonuses, at least, it helps discourage gamblers from abusing the bonus, but casino should endeavor to place a wager requirement that is fair to themselves and the gamblers, not a wager requirement that is only fair to the casino alone.

You're right that the casinos which offer those promotions often tend to have very high wagering requirements that one should know before depositing your money into it. The casinos offer those promotions often to attract new users, but they have strict terms and conditions for those offers because they can't offer 100% bonus without those wagering requirements.

The wagering requirements confirms them that most of the users will end up losing money instead of making any profits and that's why they give such bonuses to new users because the new users often turn out to be losers who want to earn a lot of money with their gambling activities, and as a result they lose everything.

It's also true that when someone gets those promotions they can't withdraw the money without reaching the wagering requirements, and that's why most of the users will never ever reach those wagering requirements at all. It's always better to avoid all those promotions that require you to earn 3x to 4x the amount of money you deposited because it's literally impossible to earn 3x or 4x the amount of deposit money with the help of gambling.

Yup, each casinos have their own rules I mean they've got different requirements, and you needed to pay attention on it, before you deposit your capital/money it should be a must do reading all the terms and conditions that the casino have, especially if you are participating with any promotions, there are always a wagering requirements that you needed to understand before taking your chances.

Because even you already win some but your money is still attached with the requirements. You'll be disappointed not to able withdrawing it because you are tied to complete first the requirements before allowing you to withdraw your money.

In fact, the need to really withdraw your money from a deposit in a casino usually arises if you win big or if you urgently demanded money due to unexpected everyday and difficult life situations, when a person is simply forced to collect money wherever he can.  But unfortunately, in both of these cases, the deposit at the casino can hardly be quickly and seamlessly withdrawn to your account.  If you have won a large amount, then the withdrawal is delayed due to all sorts of checks and verification according to the KYC procedure.  If you just need to withdraw the balance of the deposit, and you have not read the TOS requirements, then nothing will work either.  Because you probably didn't wager to meet the casino's requirements.  As a result, it turns out that a deposit in a casino can in no case be considered your real money that is at your disposal.  And you can never expect to be guaranteed to have this money at your disposal. 
But, alas, this is how the whole business in online casinos is built.  And this is an important circumstance that all gamblers face in general.

I don't think it's a difficult decision for them, they don't think about the players or they would leave if they have a very high wagering requirement, though they don't set it too high because they do that with bonuses they offer, having a very high wagering requirement for bonuses isn't an issue, but when a casino asks you to wager your deposit without any bonus more than 2x, that is when things start to get uncomfortable for the gambler.

So it's obviously important for a gambler to first read the terms and conditions before they create an account and start making deposits so that they already come to know about the requirements they will be entitled to which they will need to complete if they want to be able to make withdrawals.