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Does Anyone Know What This Term Means?

Discussion in 'Online Casinos' started by angelfire, Jan 20, 2009.

    Jan 20, 2009
  1. angelfire

    angelfire Dormant account

    Occupation:
    unemployed due to sickness
    Location:
    Saltburn By The Sea
    Hi all,

    I just had a question and after looking through the terms and conditions of the online casion I'm with I still don't understand what this means. The following statement also includes that the casino will take back the bonus on withdrawl.

    Does anyone know what this means, and the reason for this?

    "Please be advised that the Casino reserves the right to refund winnings to ANY payment method you have used to deposit with up to the total amount you deposited, in accordance with international banking regulations."

    Thanks, and sorry for this obvious question, I just wasn't sure what it meant, I was wondering if it meant they would automatically refund your deposit, or that it meant they would withhold your bonus.

    Thanks,

    Dan
     
    Last edited: Jan 20, 2009
  2. Jan 20, 2009
  3. classymom

    classymom Well-Known Member

    Occupation:
    Customer Service
    Location:
    Port St lucie Florida
    I think they are saying if you take a 100 % bonus on 100.00 get 100.00 and play and cover the W/R when you cash out they will remove the 100.00 bonus from your withdrawl balance. A lot of the Rivals are doing this now.
     
  4. Jan 20, 2009
  5. babs7262

    babs7262 Banned User

    Occupation:
    On Disability,p/t online slots reviewer
    Location:
    PA
    Im reading it different from you LOL

    To me it looks like its saying if you deposit one way, they will pay your cashout the same way unless international banking laws prevent it.

    If your in Germany and use visa, they will pay your winning by visa

    If your in USA and use visa, they have to pay you in a different manner
     
  6. Jan 20, 2009
  7. solarrocker

    solarrocker Dormant account

    Occupation:
    Customer Support Manager
    Location:
    Netherlands Antilles
    Believe this means if you deposit with for example credit card and Neteller then they can refund to both credit card and Neteller up to the amount deposited. So if you deposit $100 with credit card and you win for example $500 they can refund the credit card up to $100 and $400 would go to Neteller.

    Believe that would be a sticky promotion then, think this has more to do with the actual cash out method and not a promotion.
     
  8. Jan 20, 2009
  9. kmay87

    kmay87 Meister Member PABnononaccred PABaccred2

    Occupation:
    Barrister
    Location:
    England
    To me, it reads more like, upon withdrawal, an amount up to the value of your deposit could be refunded to your initial deposit method.

    I.E. if you deposit 100 via debit card, then request a 400 withdrawal to Neteller, they may refund the first 100 to your card and the rest to the method you chose.

    Standard casino practice if so.
     
    2 people like this.
  10. Jan 20, 2009
  11. angelfire

    angelfire Dormant account

    Occupation:
    unemployed due to sickness
    Location:
    Saltburn By The Sea
    Hi there,

    thanks guys, I appreciate the quick response and your help too.

    So I guess this is standard practice for a casino? I wasn't sure, as basically I was wondering why the casino would do this and what it meant.

    Thanks for clarifying, its appreciated,

    Dan
     
  12. Jan 21, 2009
  13. Simmo!

    Simmo! Moderator Staff Member

    Occupation:
    Web Dev.
    Location:
    England
    Pretty sure this ties in with International money laundering regulations. Many casinos, Wagerworks licencees for example, will ONLY cashout to the method of deposit. In fact they restrict you to one method and if you want to switch, you have to clear your account balance and request a reset. Some others will allow cashouts to a seperately registered method up to a limit.

    The basic premise is to stop money launderers depositing with one method to effectively transfer it to a different bank without leaving a paper trail. Made more complicated by the tax rules in certain countries that provide concessions to winnings made via gambling.
     
    1 person likes this.
  14. Jan 21, 2009
  15. Jasminebed

    Jasminebed Closer to 100 than Birth

    Occupation:
    Not in workforce
    Location:
    Ontario
    Might just tie in with the costs of processors as well.
     
  16. Jan 21, 2009
  17. EasyRhino

    EasyRhino Dormant account

    Occupation:
    Analyst
    Location:
    San Diego
    I don't know the minutiae of credit card processing, but there is a chance that if the casino does a refund to a credit card, they get refunded their CC fees from the original purchase (which are significant).
     
    1 person likes this.

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