A Letter To Players Of Slots Oasis Casino

[vegetagirl2008]

Louise,

I never stop confusing.

To clarify, my post is a general question pursuant to your T and C's that may apply to any player. For example, a player that wins a $12K R.J. and see the original question please.

My USERNAME

My goodness 12k and didn't receive a dime. That's not right I know you guys can do better than that. I could understand late payment processing and such but not give him a dime of that 12K is not understandable at all. For all of this waiting he should get at least half of the money. I know he was not strapped for cash but come on, they didn't even say here "boo" here's a dollar, nothing.

WoooooW

[NASHVEGAS]

My goodness 12k and didn't receive a dime. That's not right I know you guys can do better than that. I could understand late payment processing and such but not give him a dime of that 12K is not understandable at all. For all of this waiting he should get at least half of the money. I know he was not strapped for cash but come on, they didn't even say here "boo" here's a dollar, nothing.

WoooooW

It is/was a general question given a hypothetical situation. It could apply to anyone. Sorry I caused confusion.

That said, it is one of the reasons that weekly installment payments basically suck. I can only say it is potenially abused and creates unnecessary issues.

[me_and_ed]

Hi,

You are welcome David - I apologize once again.

me_and_ed - I am not the payouts person for our casinos, we have a few people that work in the withdrawal department for our casinos. I was speaking in reference to a Casinomeister-rep-sidekick that can come and help people out here should there be any times I can't get here myself.

Thanks,

Louise
Rushmore, Cherry Red & Slots Oasis Rep.

My comment was not answered, speaking for myself only, why is it when you are away the payment process becomes very slow, why are the relevant departments not processing in a timely fashion? If I have have missed the answer to this in an earlier post I apologize but cannot find it anywhere.

[vinylweatherman]

Hey Laurie,

Nice to see you around - I hope you are well.

The checks are being sent out now by our processing company. They are sending the biggest batches they can, but can not send out all at once, so some people who had checks approved later on last month will need to wait a little longer than those who had checks approved nearer the beginning of the month. Wires are pretty much fine also, with a little catch-up/slight delays for the earliest approved people waiting.

Concerning e-wallet accounts - Most methods are fine now and have been sent. The only delays we have (which will be cleared within the next 48 hours) are with UseMyWallet - Most withdrawals have been sent according to the date on which they were requested - We are now waiting for more funds to arrive in our account so that we can send out the rest.

Thanks for everyone's patience.

Regards,

Louise
Rushmore, Cherry Red & Slots Oasis Rep.

Candid, but rather worrying. This indicates a cashflow issue, and given some recent failures of casinos will have players worrying.

From where are these funds coming. Does the company HAVE the funds, but just in the wrong place (poor planning), or is it more serious, where more deposits are needed to cover withdrawals currently in the pipeline. The latter scenario is what will have players rushing for the exit, even the merest HINT of it. Given that there is absolutely NO "ring fencing" of player funds, not even with Microgaming, players know full well that when a casino fails, they stand to lose almost everything in their accounts. If Microgaming players can lose everything, and TWICE (TUSK and Eurolinx), the slightest sign of problems in a casino using software with a worse reputation will create a sense of foreboding which will discourage the very deposits the casino needs to keep cash flowing.

The fact that this has gone on for two months, and upper management have refused to explain why something as simple as paying on time has been so damn hard to do, and then you slip this remark in "We are now waiting for more funds to arrive in our account so that we can send out the rest" will have many thinking that this is a case of not having the funds in the account because the company does not have the money, rather than it being in the wrong place.

We really need more, since if it were merely a case of the money being in the wrong place, it should only have taken a few days to move it to where it is needed, similar to the length of time it might take me to transfer money from a savings account at one bank, to a current account at another, so that I can pay a bill. This is in the order of 3-4 working days, not 2 months. If it took me 2 months, it would be because I didn't have the money at all, and was trying to raise it somehow.

When this industry was in it's prime, we would probably have dismissed this as a temporary setback, but with UIGEA and the "credit crunch", there is a much greater chance that even minor dificulties could quickly drive a business, such as a casino, over the edge.

The industry could address this by implementing a "ring fence" system for player funds, such that when a casino went bust players would not lose any of their money, and if this were in place, it would be far less likely that players would worry about whether slow payment meant the casino was going bust, or was just incompetent - they would get paid in the end.
I thought, as did many, that Microgaming had such a system, and now we learn this was not so, and rightly feel we were mislead into underestimating the risk to our funds when MGS casinos went bust. Players are probably now OVERESTIMATING the risks because of these high profile failure of TWO MGS casino/poker operators, and players losing pretty much everything in both cases.

[Slotster!]

Completely agree VM.

I hope Louise typed that wrongly or doesn't mean what it looks like...

What if someone hits a crazy slots run or a progressive or whatever? Are they to wait six months until enough people deposit to drip feed the payout?

If this is the case, and they're waiting for their own funds to come in before paying the players - it's pretty much game over for this group.

[cheetahwind]

To me this might be a sign of poor management. I'll admit there in countries where the laws are as strict about having so much on hand for cash, but on the same note they should in my mind have enough cash reserve to be able to pay players. Here in the US a casino is required be able to cover any bets made on the casino floor. So why wouldn't a casino carry enough cash to be able to cover all jackpots and bets made an online casino? To me this another reason why the US should be working towards allowing online gaming because then a lot of this let's pay ourselves perks with money were sure the players are going to loose. Shinagans going on won't happen as much because then they'd have legal US companies also competing along side with these folks who are going to have certain restrictions regarding cash to be able to pay players. Common in my opinion stop taking these lavish salaries for yourself and start working for the player. Only take what you know is profit and then keep the rest in the bank until you know it's profit.
So anyways that's my two cents out I'm out until I feel the need to speak again. lol

[Louise]

Hi all,

First of all, if a progressive is hit, then the payout is made in one payment. If a random is hit, then as a starting point, we send $4000 per week, but this can be increased at the manager's discretion.

me_and_ed - Sorry for not making this clear. It's not that when I am away the payments become slow. The cashouts that I have been speeding up the last few days are mostly people that had asked their withdrawals to be approved within the 48 hours. It is not normal that withdrawals go over the 48 hours, but admit that over the last couple of weeks since we've been working with these delays, some players have been waiting 3 days in some cases rather than 2 (for approval).

Checks have been received by players late last week for those who were waiting, and more are due at the beginning of next week, so I hope that within the next few days, all player waiting will have received their winnings.

Thanks,

Louise
Rushmore, Cherry Red & Slots Oasis Rep.

[cheetahwind]

Just as an update to everyone and also PMed this to Louise. I did recieve my winnings and maybe she can't really explain this, but when a guy cashes out via wire transfer. Is it customary for it being an international transfer that $105 in fees come out? Just curious.

[Louise]

Just as an update to everyone and also PMed this to Louise. I did recieve my winnings and maybe she can't really explain this, but when a guy cashes out via wire transfer. Is it customary for it being an international transfer that $105 in fees come out? Just curious.

Hi cheetahwind,

I checked your account and can see that you had a $105 bonus removed from your winnings, so this was the reason for the deduction. The bonuses we offer are play bonuses only and are removed at time of cashout request.

Regards,

Louise
Rushmore, Cherry Red & Slots Oasis Rep.