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Golden Reef T&C's/Withdrawal

Discussion in 'Casino Complaints - Bonus Issues' started by Zodiac, Nov 6, 2006.

    Nov 6, 2006
  1. Zodiac

    Zodiac Senior Member PABnorogue PABaccred webmeister

    Occupation:
    N/A
    Location:
    Europe
    All the Casinos at the Casino Action Group have a cash and bonus Balance.
    The Bonus amount must wager 50 times, that is the only Group that it is to wager so high, that i know.

    For what have they the Cash and the Bonus Balance, if i must wager any Bonus in full to do a withdrawal ?

    If it is so, they do not need the C&B--Balance.

    I know, that all i have into the Cashbalance, i can withdraw, and the Rest of the Bonus resets to zero.

    Their T&C's are not unambiguously and contradict itself.

    I know that for all $10 i must wager either 30 once or 50 once, $10 goes from the Bonus Balance to the Cash Balance and anytime i can withdraw. ( it is so at many other Casinos )

    Not so at Golden Reef, why ?

    If it really so is, it does not be worthwhile to play in this Casinos with a bonus because the conditions are much too high .


    Zodiac
     
  2. Nov 6, 2006
  3. aka23

    aka23 Dormant account

    Occupation:
    Technical
    Location:
    Planet Earth
    I believe the Casino Action group was the first to require players to complete the playthrough on Clearplay bonuses. Grand Monaco also has such a requirement. The Vegas Partner T&C reads like it is required. However, I have yet to hear about players being required to complete the playthrough. With such a policy, there are still several good reasons to list both a bonus balance and a cash balance. One is to make it clear when your bonus is converted to cash. It can still be worthwhile to take the bonus, but I won't get into that here. I'd recommend forfeiting the bonus if you favor high variance games, like slots.
     
  4. Nov 6, 2006
  5. Zodiac

    Zodiac Senior Member PABnorogue PABaccred webmeister

    Occupation:
    N/A
    Location:
    Europe
    thank you for your answer aka23

    you say that Grand Monaco also has such a requirement.

    Here are the Bonus System at GM:

    How it works

    The Bonus System utilizes a 'Bonus' account balance alongside a real 'Cash' account balance.
    After the casino awards a player with Bonus credits, the Bonus Credits automatically turn into real Cashable Credits as a player wagers in the casino.

    Rules

    A Player has two account balances consisting of:
    Cash balance
    Bonus Credit balance (The Bonus account cannot be cashed out but may be used to place real money bets)
    Specific bonus credit play-through requirements are indicated in the terms and conditions of each promotion.

    Bonus amounts awarded require a 30 times play through before they are automatically transferred into the cash account balance.
    The wagering contribution percentages for the play-through requirement is different based on the game type played.
    The wagering contribution percentages are as follows:
    - Slots and Parlor Games - 100%
    - Table Poker, Roulette - 25%
    - Blackjack, Video Poker, Craps, Baccarat, Casino War, Sicbo - 5%
    - Progressive Slots and Games, Red Dog, All Aces and Jacks or Better Video Poker - 0%
    As the play-through requirements are met, bonus credits are automatically transferred from the Players Bonus account to their Cash account in increments of $10 credits.
    Play-through requirements are achieved when real money wagers are made from either the Cash or Bonus Accounts.
    Wagers are first deducted from the Players Cash account. If there are no credits in the Cash account, then the bet is taken from the Bonus account. Players bonus account funds are only used when the cash account balance is zero.
    When a player makes any withdrawal, their Bonus account balance is reset to ZERO. Thus a player loses any Bonus account balance if they make a cash withdraw.
    Before processing a cash withdrawal, players are warned that they lose their bonus credits. Thus we give players the opportunity to reverse their cash-in decision so they may continue playing with and earning the Bonus Credits into Cashable Credits.
    If crediting winning bets into a Players Bonus account results in the Bonus account exceeding the size of the original Bonus amount, then excess winnings are credited to the Players Cash account.
    The casino audits all cash-ins for wagering requirements and promotion abuse. Abuse includes receiving bonus credits and making a few large wagers followed by a cash-in. The casino reserves the right to void the winnings earned from this type of wagering activity as it is not in the intended spirit of the distribution of the bonus credits.

    These T&C's says that i can make anytime a withdrawal, if i has a Sum in the Cash Balance, equal if i has any amount in the Bonus Balance.
    They says not that i must wager all the Bonus in Full to make a withdrawal, except the welcome bonus.


    This is, what many other Casinos have on their Bonus System, it is ok, but not at Golden Reef.

    It is equal, i have lost $100 to met the wager requirement in full.
    I think the next time, if i play generally the next time to the Group, i play without any Bonus, there are many other Groups with better and more unambiguous T&C's.


    ( i play only Slots and sometimes VP )

    Zodiac
     
  6. Nov 7, 2006
  7. aka23

    aka23 Dormant account

    Occupation:
    Technical
    Location:
    Planet Earth
    Grand Monaco has changed their T&C a few times, but for as long as I have known them they have had seemingly contradictory statements about bonus rules.

    Rule #14 of the promotional section states
    " Unless stated otherwise in a specific promotion, no withrawal will be honored until a minimum purchase of 20 credits is made and the purchase and bonus are wagered in full."

    Note rule #9 in the opening offer section
    "# By claiming your Opening Offer Match Bonus you are committing your purchase to the 250 minimum bets and 30x wagering requirements before you are allowed to make a withdrawal."

    A few weeks ago, one player told me he was unable to withdraw until meeting wagering requirements. I was able to withdraw prior to meeting wagering when I played the sign on bonus a few months ago.
     
    Last edited: Nov 7, 2006

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