Deposit Insurance

[Michael A]

Hi Players: What are your thoughts on insured player deposits as well as insured legitimate wins from online gaming operators?

Deposits and legitimate wins will both be insured and the player will be indemnified against loss.

Any feedback?

 

[jonevegas]

I like the idea of loss insurance, everytime I lose I get paid back.

 

[jetset]

Are you spamming, or is this a genuine enquiry?

There have been a number of schemes that purported to do what you describe. All were discussed on this and other fora so you might find detailed information in the archives on a search. I seem to recall some were not really insurances.

None of them (to my knowledge anyway) seemed to last very long. Maybe they got their sums wrong....

 

[Michael A]

Thank you for your reply and no, this is not spam. We know that there have been other attempts at protecting or "insuring" players against deposit loss or non-payment of legitimate wins, but this is the first time the player will be indemnified for non-payment of legitimate wins. This is a revolutionary product as that it is being offered by an insurance company.

We appreciate any additional feedback you may have.

 

[tim5ny]

" If something sounds too good to be true... then it usually isn't true." That's what Grandma always said! I'm sticking with Granny on this one.

 

[jetset]

I guess a lot will then depend on the bona fides and stature of the insurance company underwriting your scheme - are you in a position to reveal who that is? And where can we read up about this new initiative?

 

[forestboy]

Underwriting

The big question is who is underwriting the scheme and what are the t&c's?

 

[Bruce Hamilton]

...it is being offered by an insurance company.

It is? Who pays the premium, and how much?

 

[esquirexx]

it will be good for players.there will be players that use it.

 

[Bruce Hamilton]

It would also save Casinomeister a lot of headaches with PAB.

 

[buck]

Insurance

Currently some other portals "guarantee" amounts up to $1,500 for casinos that fail to pay if T&C are followed. I doubt that there has been any claims, since like most sites it is just a ploy to get affiliated accounts.

Only specific (IE affiliated) casinos are guaranteed. Site will remain nameless due to the site owner being banned from this site.

Even if a third party insures against loss and even if the player paid for such insurance the third party usually want recourse to the party that causes harm. Not exactly a natural disaster that is being insured against.

Unless the casinos issued some security such as a LC,bond or bank guarantee most legit parties would not insure.

Good Luck

Buck

 

[Bruce Hamilton]

Currently some other portals "guarantee" amounts up to $1,500 for casinos that fail to pay if T&C are followed. I doubt that there has been any claims, since like most sites it is just a ploy to get affiliated accounts.

That "up to $1500 guarantee" also requires that you initially accessed the casino in question from the link on their site, so they get credit for the clickthrough. If you try to use the guarantee, you'll probably have to prove you clicked "their" link and not Casinomeister's or someone elses.

We all know the reputation of Damian Duncecap.

 

[expertofpoke]

I like the idea of loss insurance, everytime I lose I get paid back.

I agree

 

[jetset]

So where has Michael A gone - I'd like answers to the questions posed here about his scheme?

BTW he's also been posting this on other sites like WOL.

 

[Michael A]

Hey there...we're here...I've been on a short holiday with the family before we launch.

We wanted to try and get some feedback from some of the forums beforehand...somewhat of an informal focus-group. Thank you for your replies.

We will be at the affiliate show in Las Vegas next week...should anybody be going, I'd be more than happy to meet with you while we're there.

In the interim, you can forward any additional questions or comments to: inquiries@insurabet.com

 

[slotchik]

Currently some other portals "guarantee" amounts up to $1,500 for casinos that fail to pay if T&C are followed. I doubt that there has been any claims, since like most sites it is just a ploy to get affiliated accounts.

Only specific (IE affiliated) casinos are guaranteed. Site will remain nameless due to the site owner being banned from this site.

Even if a third party insures against loss and even if the player paid for such insurance the third party usually want recourse to the party that causes harm. Not exactly a natural disaster that is being insured against.

Unless the casinos issued some security such as a LC,bond or bank guarantee most legit parties would not insure.

Good Luck

Buck

Yes its Us.....

and I'm not banned....
but we dont do it for affiliate accounts. We do it to protect the player.

 

[Casinomeister]

Hi Players: What are your thoughts on insured player deposits as well as insured legitimate wins from online gaming operators?

Deposits and legitimate wins will both be insured and the player will be indemnified against loss.

Any feedback?

I think that it may sound good on the surface, but to implement this would be problematic and eventually turn in to a nightmare IMO. You would have to take into account player fraud and casino fraud, bonus abuse and casino manager abuse, crazed lunatics, and other complexities.

I've seen a few sites over the years try and implement this -- don't know if it works, and I don't know if it's really worth it in the long run. IMO players shouldn't be tempted to play at casinos via sites that offer insurance. Too many chefs in the kitchen. The casinos should be able to stand on their own without trying to screw anyone over, simple as that. Portal owners should be extremely selective on who they advertise for.

You also need to figure what sort of traffic you're going to get. Will it be mainly good players who are there to support your site? Or will it be mostly players that are trying to take advantage of your system. There are a number of things that you really need to think through.