2 casinos that have weird terms for cashbacks

[just play]

Grand Mondial....I have never understood that interest rate thing and finally found a person who explained it to me when I received $0.01 bonus today...yes you read that right, I received ONE CENT bonus...lol

Ana: Hi, and thank you for using our Live Chat facility! Allow me to introduce myself as your chat representative...
Ana: will be assisting you, how could I be of service...
.com: Hello, I wrote an email hours ago and haven't received a reply so I thought i would ask you....i logged into my account today and found i had $0.01 bonus...can you tell me why?
Ana: One moment please while we look into the matter for you?
.com: ok
Ana: Could you tell me your account number please?
.com: vgmr
Ana: Thank you
.com: yw
Ana: The 0.01 bonus is the interest rate for you account
Ana: When you keep some money in the casino account you receive a interest bonus once per month
.com: one cent is my interest rate? i am at 5% interest rate
.com: what does that figure out to? $0.50 lol
Ana: Kindly note that depends of the money in your account and the 5% in a yearly interest rate
Ana: It's calculated with the money you have every day of the month at midnight GMT time
.com: so in june i have deposited almost $700 and that equals one cent?
Ana: If you have expended soon after the deposit it's what you get
.com: or is it just because i don't play at midnight?
Ana: It doesn't depend of the total amount you deposit only, it's the money you keep in your account
Ana: You don't need to play at middnigh
Ana: You just need to have money in your account at midnight
.com: if i deposit and play and dont win, then i never get an interest rate right?
Ana: You will get a very low interest rate like one cent
.com: ok, thank you Ana
Ana: It's a pleasure
Ana: Is there anything further I can assist you with?
.com: bye bye, no thank you
Ana: You are welcome, please have a great gaming experience further, good bye.

So in order to receive an interest rate, I need to leave money in my account, but why would I leave money in my account unless I hit something and wanted to play another day?


Bodog...I deposited $30 this past Thursday or Friday and thought come Monday I would have $5 or something to play with, WRONG, here is their answer to me as to why I didn't get their 5% cashback......

Thank you for contacting Bodog Casino Customer Service.

The Casino Comps are based on your handle and losses as previously mentioned. You do not need to be a high roller to receive a comp but all clients whether they are high or low rollers, have to meet these requirements to receive a casino comp.



When we refer to handle, it does not mean that you have to have that much in your account. Handle is the total amount that you wager. For instance you can take a 20 deposit and turn it into $500.00 of handle. This is calculated by every wager that you place, not by what you win or lose. For example, if you make ten wagers in BlackJack for a dollar each, your handle will be $10.00.



It may seem that a $5,000.00 handle is a high amount, but when placing your wagers, it adds up pretty fast without really realizing it.


If you ever encounter a problem or have any questions that require an immediate response please do not hesitate to contact our 24/7 Casino Customer Service Team at 1-866-234-1324 or casino@bodog.com.



Regards,
Casino Customer Service



Bodog. Play Hard.

casino@bodog.com
1-866-234-1324

So if I deposit a small amount and don't hit this 5,000 handle, I don't get the cashback they say they give?

Does any of this seem weird to anyone else, or is it just me?

 

[just play]

Ok, I guess it's just me then

I just thought it was strange from Bodog to only get a 5% cashback if you come through with this "handle", so a low roller gets nothing from Bodog. Also you will get nothing if you don't leave money in your account from Grand Modial. Well why would I leave money in my account. lol

 

[AussieDave]

Ana: It doesn't depend of the total amount you deposit only, it's the money you keep in your account

That statement bothers me because:
Link Removed ( Old/Invalid)

Your casino account
1. If no wagering activity takes place in either your casino or loyalty account for a period of 180 days, then the player understands that any balance in their account will be forfeited to the casino.

On one hand GM is encouraging players to keep money in their account & offering an interest to do so. Where as on the other their T&C's lay claim to the above 180 day clause that allows them to basically steal a players money.

Although unlikely if a player has a large sum in their account that they'd not wager it for 180 days. A typical scenario could be a player gets sick, jailed or some other reason that prevents them playing or accesing their account for 180 days.

IMHO if the player has funds (their own) loaded to a casino account then the casino has not right to take these funds. If the player has not logged in for x number of months, I would see it as the casino duty of care to contact the player and or to send the funds to their nominated payment method if the casino is closing the aforementioned account.



Cheers
T

 

[ultra100]

Hello Just Play,

As I understood, in both cases you mentioned it's not standard "cashback". Standard cashback program gives you certain % of your deposit back to soften your losses.

For example:

You total deposit is $1000 and you lost it all. If you are under 10% cashback program you will receive $100 back. (10% of your deposit)


In Grand Mondial case it's interest rate for keeping your money in their casino. (First time I heard this).

In Bodog example, it's comp points system. You receive comps based on the amount you wagered.


Hope this helps.
Greetings,
Alex

 

[vinylweatherman]

That statement bothers me because:
Link Removed ( Old/Invalid)

Your casino account
1. If no wagering activity takes place in either your casino or loyalty account for a period of 180 days, then the player understands that any balance in their account will be forfeited to the casino.

On one hand GM is encouraging players to keep money in their account & offering an interest to do so. Where as on the other their T&C's lay claim to the above 180 day clause that allows them to basically steal a players money.

Although unlikely if a player has a large sum in their account that they'd not wager it for 180 days. A typical scenario could be a player gets sick, jailed or some other reason that prevents them playing or accesing their account for 180 days.

IMHO if the player has funds (their own) loaded to a casino account then the casino has not right to take these funds. If the player has not logged in for x number of months, I would see it as the casino duty of care to contact the player and or to send the funds to their nominated payment method if the casino is closing the aforementioned account.



Cheers
T

This "interest rate" thing is a waste of space. The average player is only going to get insulting amounts back. In order to get a decent amount back, it is necessary to do the unwisest of things, leave large sums of money in your casino account as if it were a bank.

You can NEVER know when disaster strikes, and you will be unable to connect to the casino for 180 days. Normally, this is not a problem since players tend to withdraw soon after a big win, or only make big deposits when they intend to play a fair bit, so would never receive much with this promotion.

A far better promotion to offer would be a cashback on losses for the week, as many casinos seem to do. The percentage cashback could increase either by amount wagered, or by loyalty tier, so the most loyal players receive the best cashback.

The current "interest rate" promotion CAN be "abused", since even the lowest 5% tier, requiring a monthly wager of 1 credit, is more than most banks are currently offering. There again, the bank is a good deal safer than a casino. If you wanted to live dangerously, you could park a huge wedge in your account, and wager 1 credit each month, and accumulate interest at 5%
After a while, you could grind out the WR on this interest, and have a very good chance of making a profit.