Unethical payout terms
The Awesome Transcript
Today, I am going to be a bit critical about the lack of proper ethics of some operators, and the lack of due diligence of some players, and the failure of some licensing jurisdictions to ensure that their licensed casinos have fair terms.
Specifically, a number of Playtech casinos still have a rogue payout term in their terms and conditions concerning the payouts of progressive jackpots.
What a progressive jackpot is – this is a game that can pay out a jackpot that has been progressing in size – there are a number of these games, and this is where players can win millions of dollars, pounds, or euros. Where does this money come from? It comes from the pooled funds of those casinos that subscribe to the progressive jackpot, and from the players who are playing at these games – it doesn’t matter which casino these players play the game at, the winnings are held by the casino software provider. In this case, Playtech. What happens when a player wins a progressive? Playtech places those funds into the players account immediately. Simple as that.
Imagine being a player, and you just happened to be playing Playtech’s Jackpot Giant progressive game – which right now at this moment is 7.8 million Euros. Imagine winning this – 7.8 million euros. Imagine winning this and seeing this hit your account 7.8 million euros. It’s there for you to cash out. You try to cash out – but instead of the full amount being wired to your bank, you receive an email from the casino manager telling you to please reread their payout terms.
Their terms read – and we are using winner.com as an example – you are allowed to withdraw not more than €9,990 per month and this applies also to Withdrawals of progressive jackpots.
Do the math. 7.8 million euros divided by 9990 euros a month – that is about 65 years.
Please remember that this is not the casino’s money – this came directly from Playtech. So think about that for a few minutes.
Is this unethical? Yes. Absolutely. Can this happen? Well it already has happened – and this is documented at Casinomeister where the operator took about half of a players progressive winnings (it was originally about 4.1 million dollars) he pocketed the cash after telling this young lady that she could either accept 9k per month for 38 years, or half of the progressive win.
That was Joyland casino.
When William hill purchased Joyland they did nothing about it. Even after I pleaded with them to make things right. Playtech did nothing about it as well, even though that money went somewhere. Probably to whoever owned that casino back then. And when the casino operator cut this deal with this woman, who only spoke French, they did it via a yahoo email account. I have the emails to prove it.
Anyway, just goes to show that there are unethical rogues in our midst.
The problem is that players don’t read the terms. And if you are a player and failing to read the terms on how they will pay you – shame on you. If you read the terms and conditions of Winner casino, Super Casino, Noble Casino, Casino Tropez, City Club Casino, City Tower Casino, Crown Europe Casino, Europa Casino and it goes on…you would see basically the same term.
I think it is asinine to think that a casino could enforce this sort of rule – but Playtech told me in the past – the player signed up and agreed to those rules. So it on you the player to watch out for these snakes.
Did you know that some of these casinos are licensed by not only Malta but by the UKGC and Alderney? Shame on those jurisdictions to not protect their players from unscrupulous rogue operators. Shame on them. I am sure that these terms and conditions are approved by the licensing jurisdictions. I would expect a term like this to be okayed by some banana republic – not by the top three European licensing jurisdictions. I am rather surprised by this, but then – there is not much that can surprise me after 19 years in this business.
The bottom line is cover your ass. Read the terms and conditions of all online casinos that you sign up at, and stick with Casinomeister Accredited casinos. Our accredited casinos are forbidden to have rogue terms like these.
Imagine that you have signed up at this casino, Winner Casino, and deposited €50 and began playing some of the jackpot games.
Just imagine the elation you would have hitting a progressive jackpot at, let’s say Jackpot Giant which at press time is €7.8 million. Imagine what a life transforming experience that would be. That’s nearly 8 million Euros!! You could buy houses, yachts, feed the poor, start a foundation – just about anything.
And then image how you would feel when the casino manager tells you to please re-read their terms:
You are aware of and agree that players are allowed to withdraw not more than €9,990 per month. If the amount to be withdrawn is greater than €9,990, the remaining amount will be placed back to the player’s account, allowing the player to withdraw additional funds the following month in accordance with this term. The foregoing applies also to Withdrawals of progressive jackpots. Withdrawals depend on all conditions specified above and the verification of all required documents as set forth in clause 9.4 below
So that is going to take about 65 years to pay out. Don’t think that can happen? Think again – it has happened, and it will happen again: Playtech Progressive Jackpot Scandal.
The unethical part about it is that these progressive jackpots do not belong to the casino – they are paid out immediately from the software provider into the player’s account, (no worries, I have personally confirmed this with an executive at Playtech). The casino has nothing to do with it – except to pay the player.
Progressive jackpot funds come from a “pool” of funds that each operator contributes to. The reason why operators like jackpot winners so much is because these “winners” are likely to play much of their winnings back into the casino. In other words, give the casino a big chunk of money that the casino never had in the first place.
The only one who wins here is “Winner” casino: ethically challenged scandalous rogues.
Games & Software
Winner casino hosts the standard Playtech and Netent games. Most can be played in your browser – or via Mobile. Live games and table games are included.
SoftwareNetent , Playtech
No Deposit BonusNo
JackpotsAre you serious?
Other productsVideo Slots , Roulette
Unethical payout terms
It’s a really bad idea to play here. The only winners here are the casino owners. Avoid this casino at all costs.