High limits....

I was just talking to some people I know that gamble online. And they mentioned that some people have like 4000 plus weekly spending limits at some of these casinos or web wallets. Isn't that really dangerous? I mean most people don't even make 4k a week. And I know some have higher weekly spending limits. I just think thats a little crazy to give such a high weekly allowance. And its all on credit. And someone could just go blow through the 4k and then not have the funds in the bank to cover them. I would think this would be a major problem with compulsive gamblers. Like I said I think that having that high of a weekly limit can only lead to trouble..especially if you never cash out any big winnings. Well thats just 2cents. What do you guys think about 4k plus weekly limits?

 

I think that if the person in question can afford the 4k, then they should have that limit if they want it.

However, in my very personal and subjective opinion, it's the individual gambler's responsibility to know what their limit is. Yes, I know that there are people out there who have a gambling problem ... but I feel that personal responsibility is a keystone in life and not just gambling.

Too many times, people blame others (web wallets, casinos, etc.) for something they should have taken the responsibility for. If the person is an adult, they should accept consequences for their actions and not try to foist the blame on others.

Again, my two cents, which will probably be hotly contested and raked over the coals ...

 

Every MG I play at has 1000 every 24 hours = 7000 per week, or about 13,000 dollars. It's down to the player to control themselves, not the casino.

I can't imagine an MGM Grand pit boss saying "Whoah! Easy, you appear to be betting too much Mister!"

It's their business to take customer's money; it's the customer's business to decide how much they take.

 

Most good casinos, MG's anyway, will reduce the limit on request so a player who feels that is too tempting can request a reduction. That said, a compulsive would just switch casino and continue playing there etc etc.

 

agree about accepting consequences, but and I speak only for myself here, in day to day life I'm quite well controlled, but when it comes to gambling it's very very easy to go on tilt and keep on depositing chasing your losses. And casinos make it all too easy to keep reloading, it was only last month I lost quite a few K so now I always look for casinos that allow the player to set their own limits and if you wish to increase those you have to wait x amount of time, a great way to cool of and get rational again.
I also feel that casinos that offer this provide better customer service.

 

I agree that it's a sign of good faith (and common sense) when an online casino implements these measures. It goes to show the approachability of some places out there and their recognition of gambling addiction.

But because it comes down to whether the gambler avails him or herself of this option, I'd hate to see casinos who don't have this option looked down upon. I'm not implying at all that your post says this, but I could see it happening ...

 

Limits

For Neteller, my limit is theoretically 150,000, however this is NOT credit, but is money that has to be there in the first place.
Where credit is involved, the limits on cards is lower. Entry level seems around 500 per card per week, going up to around 1400 per card per week for VIP levels. Some limit on transaction size, say 280, but do not appear to have an overall limit, relying on the card issuer to impose one.

Some casinos run a "deposit and wager once per point" type of tournament. Having a webwallet with no real limit can be pretty useful on St Patrick's day. If enough funds can be rounded up, it is throughput, not amount wagered that counts. I am now gathering funds for this purely hypothetical St Patrick's day tournament that may have a theoretical top prize of $2500. I plan to make the top 5, and will be seriously embarrassed if I fail to get listed in the top 10, as I won this tournament last year!
It should be remembered that depositing 10,000 all at once, and wagering it once, does not mean 10,000 lost, most of it can be withdrawn and the tournament points earned (200 in theory). Players that have limits must wager for $500(500) payouts (25 points each, was 10 last year), a far more dangerous strategy as Blackjack does not count!

The main way an out of control player can come to grief is having a high limit by combining several cards over several casinos. It is possible to lose a great deal of money that does not actually exist for the player. With a webwallet, money lost is money the player already has, and they have the option to call it a day without owing any more.

 

I'm not sure what the big deal is.

I typically play with a large bankroll, which allows me a certain flexibility and the ability to ride out fluctuations. An online casino is no worse than a land casino, where I've seen people take $10,000 markers or $5,000 cash advances on their credit cards.

My personal feeling is that individuals are ultimately accountable for their own actions. An adult can just as easily lose thousands a day playing the stock market or investing in real estate as s/he could gambling. Who are we to judge how egregious an amount $4000 is?

 

Back in my crazy days I spent $5000.00 in one day with Firepay. There was no limit that I saw to cut me off. Never again though! I permenantly and forever closed Firepay and Neteller and the rest.

 

I wasn't being critical really of people that are responsible and can handle those high limits. I meant that it can be dangerous for people that lost control. I totally don't think others should suffer low limits just because people can't control themselves. Isn't that why in the USA credit cards stopped letting peopel use them at online casinos? I think what happened was this lady ran up over like 77,000 on a credit card and then sued the credit card company and won. And thats why they started cracking down on the gambling sites. I personally think that is so stupid that some have to suffer becaue a few had no control. Once again just my 2 cents.

 

280 is about $500, that's why it is a common limit. It is ridiculous that some casinos send me bonus offers requiring a deposit of 1000 but only allow me to deposit 280 in one go. I like 32red, which does not impose any limits on individual credit card transactions, at least not for me.

You can fund Neteller or Click2pay from a credit card at least in the UK, so money in these accounts does not mean that the player actually has the money. Channeling it via Neteller or C2P may shift the liability away from the casino if the transaction turns out to be fraudulent or the player disputes it.

Gambling debts were not enforcible in the UK, I still have not checked what whether anything has changed since the Gambling Act 2005. Most UK issued credit cards can be used for gambling without problems, and the transactions are processed as purchases rather than cash advances.