im depressed, won jackpot at grandaces for nearly $7000 but can only cashout $2000

[mucullus]

Originally Posted by hippo925

They told me the forfeited money would be put back in the jackpot after i cashout out.

Originally Posted by phynqster

As far as I know, there is no way for the casino to put the funds back in the Jackpot.

Maybe Greg, the affiliate manager of Grand Aces, is able to clarify what they are actually doing with the money.

[Slotster!]

Cor... That sucks Hippo! Full kudos to you for posting in the way you have, and not done a "GRAND ACES TOOK MY FECKING F%^£BBB B&&&*EARD MONEY" type malarkey!

Of course you should've read the terms and conditions thoroughly, but it's a real shame that you'd fall foul when you hit a nice progressive! (incidentally - the first one I've ever heard actually being hit at Cleo's gold!)

I too am intrigued as to how they will deposit that money back into the progressive fund. I have very peripheral knowledge of how all that works, but I can't see how it's possible.

On the upside - the streak of luck you're having - fingers crossed you'll hit another in no time!!

[Zoozie]

I can understand that you can miss this part of the T&C. It has nearly happened to me also. This kind of maximum cashout restriction is also a very wierd and unlogic restriction, but a very smart one (for the casinos) as I will explain.


Unless you play with a very small bet size where any jackpot/high win will not exceed the cashout limit you will be playing against much higher house edge than you think.

Actually as bet size increases it will reach a point where EV(with bonus)< EV(no bonus) after wagering is completed! So you are saving the casino money by accepting the bonus.

As bet size increases, the effective house edge increases.

Here is an old thread about it with an example.
http://www.casinomeister.com/forums/...-resolved.html

I hope this again will enlighten the player community about max-cashout bonuses. They are much worse than people think and you will actually in some cases be better without it (dependant on you bet size). I rate max-cashout bonuses worse than sticky bonuses.



Zoozie

[Wagerjunction]

Guys as posted in another thread

There are two types of Progressive Jackpots on RTG Casinos these days

The Network wide progressive Jackpot and the Local progressive jackpots
that are confined to a particular Casino .

The local progressives are the new Reel Series slots - i wish they would make them network wide actually and we have asked RTG quite a while ago to make this happen.


How they are going to put the funds back into the jackpot ? Well i am speaking to the Casino re this and will notify all of you as to what will happen.

I agree that the restraint the player has exercised is admirable but there is not really anything to complain about.The terms and conditions are pretty visible .you run the risk of smaller payouts when you accept bonuses.if you dont want to take that risk dont accept the bonus.

My suggestion to all players is play without a bonus at times .I just played at VegasSplendido and had a Splendido time on the MHVP taking $100 up to about $1k before proceeding to loose everything .

If you are going to claim a 100% bonus there are always going to be terms and conditions .

I am prety sure that if this was a network wide progressive they Casino would pay -


As i said ,i will speak to the Casino re this but i can not promise anything.

Best Regards
Greg

[silcnlayc]

I too recieved this offer and it clearly states in the letter that only the recipient of the e-mail may use the 105% match bonus deposit and that any winnings over the initial deposit x 10 is the max cashout. (Not deposit AND bonus) It is right in the letter and the offer is only through the e-mail. Very clear terms IMHO.

If you feel lucky, NEVER use a bonus...well...NEVER use a bonus period for one never knows when ones fortune will turn...this is my belief....

Congrats on your win tho! I would love to hit just one progressive before I die

[dominique]

Originally Posted by hippo925

the lesson, bonuses are a nightmare, read everything really carefully (they won't actually just say that "if u win big, you won't"). Make sure to know everything u can so that if you win, there is no reason a casino can deny the jackpot. In this case, the fine print was there... a winning limit?

I don't like bonuses either.

Never use them if I can help it, although some places sneek them into your account when you are not looking.

[elscrabinda]

If the casino is willing to put it back in to the progresive pot then they might as well pay the player with it. I'm not saying they should pay the player or that they are acting unreasonably but they gain nothing by enforcing the max cashout rule whilst using it to reseed the jackpot.

Perhaps there is a case to be made for progressive jackpots to be exempt from max cashout rules

[hippo925]

hi guys,

first of all, sorry to all of u about posting this topic in two threads (i promise i won't stay such a newbie for too long, lol) and thank u for taking interest in my topic.

regardless of what happened, i can say that grandaces is very professional and courteous. i received an email from kevin, the casino manager, explaining the situation and how unfortunate it was, but that nothing could really be done. but he still went out of his way to speed up the cashout of $2000 and the tone of his email was just.... very nice and professional. he made me feel like a valued player even after such a disheartening experience. i can also see that their representative also posted a response here and i think that is just wonderful.

i can hardly blame them for "following rules" when it seems so many casinos don't.

anyway, i really appreciated the quick response even though it wasn't in my favor (hey, i still won a good amount, lol)

i kinda feel bad for posting in this part of the forum. i should have kept my posts to the original thread, but live and learn.

oh, and thank u guys, the level of knowledge and experience here is fantastic. i guess one of u used to run an rtg...wow.

talk to u guys soon... oh, and i won't add to this thread anymore, only the one in the regular casino forum.

[tennis_balls]

Originally Posted by elscrabinda

but they gain nothing by enforcing the max cashout rule whilst using it to reseed the jackpot.

my guess is they don't want to encourage someone to wait for the progressives to build before signing up as a new player. Also they may wish to reward their regular players by excluding a new player (or possible "bonus abuser" gasp! from winning a progressive)

[phynqster]

Remember what Hippo won was a random jackpot not a progressive. From what I have witnessed in the past comming from a high bonus casino, the majority of jackpots were only paid out at the 10x max cashout. I had always told players that on a game like slots or video poker where on any particular bet you can win100x or more, DO NOT use a bonus that would restrict that cashout. Now if you are playing something like blackjack, take a big bonus, because you will know when you hit the 10x deposit max cashout and wont be dissapointed.