iNetBet´s Tournament max cashout

[maphesto]

This one is different, you KEEP what you win with your deposit & bonus after meeting WR, it is NOT "confiscated" as with the iNetbet variant. This is also "most wagered", rather than "most won". There is nothing wrong with playing this mixed in with "real money", and if you get the RJ, you keep it, AND any eventual prize you may win for high wagering.

Exactly!

 

[silcnlayc]

vinylweatherman: the fear among players that their big win will happen in this "tournament mode", and they will see a mere $100 of it.

I wouldn't play any of these tourneys. The fear of not meeting wagering requirements after hitting a decent win (yea, right, still dreaming) only to lose it to the wagering requirements..how silly is that? Lets say you take Menu b: that is $350x 25=8750.00 Now I hit a super nice random of $6000 only to have another $2000 to go for wagering...so, I lose the $6000 and miss my wagering by 10 bucks..how sad is that??? Yes, it happens and will continue to happen IMO...it is structured to do this..

So in essence you gave up $6000 to win $300...um yea right.. I do not think so if I am understanding this right..

.

 

[Cant_Get_Right]

I wouldn't play any of these tourneys. The fear of not meeting wagering requirements after hitting a decent win (yea, right, still dreaming) only to lose it to the wagering requirements..how silly is that? Lets say you take Menu b: that is $350x 25=8750.00 Now I hit a super nice random of $6000 only to have another $2000 to go for wagering...so, I lose the $6000 and miss my wagering by 10 bucks..how sad is that??? Yes, it happens and will continue to happen IMO...it is structured to do this..

So in essence you gave up $6000 to win $300...um yea right.. I do not think so if I am understanding this right..

.

Aren't you just sick of these damn wagering requirements? I mean this is getting old! They even want you to put a wagering on comp points.

 

[vinylweatherman]

I wouldn't play any of these tourneys. The fear of not meeting wagering requirements after hitting a decent win (yea, right, still dreaming) only to lose it to the wagering requirements..how silly is that? Lets say you take Menu b: that is $350x 25=8750.00 Now I hit a super nice random of $6000 only to have another $2000 to go for wagering...so, I lose the $6000 and miss my wagering by 10 bucks..how sad is that??? Yes, it happens and will continue to happen IMO...it is structured to do this..

So in essence you gave up $6000 to win $300...um yea right.. I do not think so if I am understanding this right..

.

Well, this is simply how it is for ANY deposit bonus, there are WR, the prize for most wagering is just an extra "treat". IF you get a big hit, and meet WR, you might NOT "go for it" just to be the highest wagerer, but cash in as soon as WR were met.
Having a big hit early on, and then losing it all to WR happens anyway, whether there is a tournament element or not.

I play these "wager challenges" at MGS casinos. It's real money, may or may not come with deposit bonuses, BUT if I win big, I KEEP ALL OF IT, whether I choose to cut & run, or push for top position on the scoreboard - I have the CHOICE, all money after any WR is met is mine to keep. MGS prizes for such events are almost always a bonus chip, with the usual WR, BUT yet again, THERE IS NO MAX CASHOUT.

I once won £300 off a promo at Spin Palace. After it was credited, I played, won, won some more, and then had that LEGEND of a hit on Munchkins, eventually withdrawing £15,000!

This would NOT happen if I had played at most, if not all, RTG casinos. The $300 (few offer UK Pounds) would be classed as a no-deposit free chip, and would most likely have a max cashout of around 10x, so a similar run (not on Munchkins, obviously) would have left me with $15,000 - $3000 would have been paid, but $12,000 removed.

RTG always seem to PANIC at the thought of a player winning like this off a prize credit, yet MGS take it in their stride, with an attitude of "it happens sometimes, not a problem". I am lucky enough to have the choice, unlike Americans, who are stuck with RTG and Rival in the main.

 

[lauram]

It would be hard enough to gain a higher balance as it is starting with 11 dollars.
Never mind having them remove whatever you won during this tournament.
Not only that if you did hit the rj and you do not qualify to cash it in, does inet place the funds back into the jackpot.

If you did make turnover and have any funds in your account you will receive your $10 deposit back. You can play as you like in the casino.
Players that accrued winnings above their $10 stake will have these removed at this point.

 

[silcnlayc]

vinylweatherman: Well, this is simply how it is for ANY deposit bonus, there are WR, the prize for most wagering is just an extra "treat". IF you get a big hit, and meet WR, you might NOT "go for it" just to be the highest wagerer, but cash in as soon as WR were met.

Ok, maybe I am obtuse or something but this makes no sense whatsoever...If I deposit $300 without a bonus and win HUGE...I withdraw...If I win with a bonus..I HAVE TO lose $6000 because of WR...and have 10 bucks left after WR..how is that a "treat"???

Taking a bonus on a large deposit such as this makes absolutly no sense whatsoever IMO..and casinos know that 99.9% will not meet the WR so who is ahead??


Why not just donate it? It would save you the heartache if you should hit something worthwhile and not get anything..

.

 

[vinylweatherman]

It would be hard enough to gain a higher balance as it is starting with 11 dollars.
Never mind having them remove whatever you won during this tournament.
Not only that if you did hit the rj and you do not qualify to cash it in, does inet place the funds back into the jackpot.

If you did make turnover and have any funds in your account you will receive your $10 deposit back. You can play as you like in the casino.
Players that accrued winnings above their $10 stake will have these removed at this point.

What You deposit $10, and for a SINGLE DOLLAR bonus you have a $100 cap on your winnings

Surely it would be better to have players put in $10, NO BONUS, and give the prize to whoever withdraws the most.

I thought the $11 was at least a free chip for depositing players who wanted something "a bit different" other than the standard 10x max cashout.

You need your head examined if you play this. Just deposit $10 without a bonus, or even use a "normal" no max cashout coupon, and have a bit of fun, and only risk NOT winning $100 if you hit big.

Whoever DOES win the $100 prize is pretty likely to do so by winning MORE than $100 from a lucky hit early on. Other than the 3 prize winners, the rest simply lose their $10, never having had a chance to win more than $100 from it.

 

[Deeplay]

wow what a thread its mind boggling - what ever happend to good ol fashion gambling without a stack of weird and most of the times Pain in the Ass terms and cons to read through no matter if its a free chip a tourney a 100% match deposit or what ever. Damn last time I walked into a land based casino and was given somthing for "free" it had no strings I could have walked. Life gets more complex these days in the way of online gambling which is supposed to be fun -) These days I tend to deposit cash only no strings attatched - win or loose I know where I am. Casinos need to see that when it gets to complex people loose interest or start discussing in detail and NOT depositing (which aint it what we supposed to be doing from a casinos point of view ?) Casinos keep it simple and ye will benefit. Make it to complex and you loose decent depositers like myself and others I presume.

Small example : was given a free chip tonight out of the blue from an acredited casino, had some strings attatched, and a max withdraw attatched, I immediatly lost interest when I saw the terms, played the money in quick time , lost, and closed down the software. I did then deposit with my own cash at another casino (same software) and am still playing ) win or loose at least I know where I am without having to read through pages of Terms n cons - as a player / customer I dont want or need this bull.

 

[iNetBet Promos]

vinylweatherman - have you actually read the promotion at all?

- There is not a cap on winnings as you say.

- Also players that take part but don't win a prizes will not lose their deposit.

If you had read the terms you would see that their $10 entrance deposit is given back to them once they meet the $50 wagering. They can then use these monies to play whatever they wish with no restrictions.

Please read a promotion fully before commenting.

As I said previously entering is not compulsory. If someone wants to play with a bonus, play without or enter this tourney then the decision is up to the individual player. Either way we trust you have fun. After all that's the whole point is it not?

Have a good weekend all.

Best Regards
iNetBet Promos

 

[oldtrvlagt]

Quite honestly you are missing the big picture and consider the mindset. In the tourneys we are all used to we DO NOT deposit real $$$ (no matter how small and receive a $1 bonus) and then play the normal slots where people (at the same time we are playing) are trying for a random jackpot where if we hit won the most we are going to win is possibly $100.

You are mixing apples and oranges by combining real money with (play) money it is a conundrum.

You are also talking to players who actually read "Terms and Conditions" and do not just blindly deposit because they received an email. There are a lot of players here that are sophisticated gamblers. This is why you are receiving so much static about this type of promotion.

 

[iNetBet Promos]

Hi oldtrvlagt

Point taken As I said earlier unfortunately we cannot run a tourney in free play mode for the reasons given previously.

You should however not look at the $1 added as a bonus. This was simply done to make the sum being used to play in the tourney $11. Given it is our 11th Birthday.

As chayton said the deposit should be seen as an entrance fee to take part. Which will be given back once you complete the wagering.

Again thanks for the feedback.

Best Regards
iNetBet Promos

 

[zap987]

I think the whole reason this thread exists is "If you did make turnover and have any funds in your account you will receive your $10 deposit back. You can play as you like in the casino."

From reading the promotion it does seem like if you lose your $10 without being able to wager $50 you don't get the $10 back.

 

[all4greed]

If you had read the terms you would see that their $10 entrance deposit is given back to them once they meet the $50 wagering. They can then use these monies to play whatever they wish with no restrictions.

If you don't make wagering requirements, you don't get your money back. The point of the contest is to hit something big, therefore the deposit most likely will be gone.

Genius on their part. Small time though...

 

[silcnlayc]

doomed4ever:Small example : was given a free chip tonight out of the blue from an acredited casino, had some strings attatched, and a max withdraw attatched, I immediatly lost interest when I saw the terms, played the money in quick time , lost, and closed down the software. I did then deposit with my own cash at another casino (same software) and am still playing ) win or loose at least I know where I am without having to read through pages of Terms n cons - as a player / customer I dont want or need this bull.

I do the same...I toss the chip as quick as I can...just to clear my account...how silly of them with all the emails I have sent them to give me something with such stringent strings attached...I end up going to another of the same flavor and deposit too..ignoring the free chip casino...

I do not know what it will take to get a casino to stop emailing offers that truly suck IMO..I am against all deposit bonuses and no one cares to listen..the remove button doesn't work, the emails don't work and these are supposedly accredited casinos..

The only casino that had honored my request to stop emailing me and giving me these silly chips was English Harbor...I am an avid and loyal player there now and have been for years since they actually listened..They even toss in some freebies with a one time wagering requirement with no limits on withdrawal..What a novel concept for rewarding loyal players! Unlike these silly other casinos flooding your emails with crap offers..especially when you SPECIFICALLY asked them to stop..

Geez...and now we have to contend with a promo like these that RTG operators are thinking up to get us back..

Just get real and let us play for goodness sake and you might just enjoy a flood of players if you (the operators) get back to the basics...geezes, it is NOT rocket science!


Sorry for the slight derail/rant...just tired of all the bulloney...just to try and enjoy a few hours of fun...we have to worry ourselves to death..how redundant is that???It is to RELAX, not count every spin/bet and try to figure out crap..How hard is it to understand this?? I guess, it is a tough question, since they cannot even find the remove button to take one off the mailing lists...

.

 

[Mavin1]

I do the same...I toss the chip as quick as I can...just to clear my account...how silly of them with all the emails I have sent them to give me something with such stringent strings attached...I end up going to another of the same flavor and deposit too..ignoring the free chip casino...

I do not know what it will take to get a casino to stop emailing offers that truly suck IMO..I am against all deposit bonuses and no one cares to listen..the remove button doesn't work, the emails don't work and these are supposedly accredited casinos..

The only casino that had honored my request to stop emailing me and giving me these silly chips was English Harbor...I am an avid and loyal player there now and have been for years since they actually listened..They even toss in some freebies with a one time wagering requirement with no limits on withdrawal..What a novel concept for rewarding loyal players! Unlike these silly other casinos flooding your emails with crap offers..especially when you SPECIFICALLY asked them to stop..

Geez...and now we have to contend with a promo like these that RTG operators are thinking up to get us back..

Just get real and let us play for goodness sake and you might just enjoy a flood of players if you (the operators) get back to the basics...geezes, it is NOT rocket science!


Sorry for the slight derail/rant...just tired of all the bulloney...just to try and enjoy a few hours of fun...we have to worry ourselves to death..how redundant is that???It is to RELAX, not count every spin/bet and try to figure out crap..How hard is it to understand this?? I guess, it is a tough question, since they cannot even find the remove button to take one off the mailing lists...

.

My solution to email offers, I have unsubscribed from every casino that has come to my inbox, even the places I do play at. If this doesn't work, I put them on my blocked list and they go straight to the delete file.
If I want an offer, they'll have it posted on their casino page anyways, I can look there.

Appologies, for my derail too.

 

[vinylweatherman]

vinylweatherman - have you actually read the promotion at all?

- There is not a cap on winnings as you say.

- Also players that take part but don't win a prizes will not lose their deposit.

If you had read the terms you would see that their $10 entrance deposit is given back to them once they meet the $50 wagering. They can then use these monies to play whatever they wish with no restrictions.

Please read a promotion fully before commenting.

As I said previously entering is not compulsory. If someone wants to play with a bonus, play without or enter this tourney then the decision is up to the individual player. Either way we trust you have fun. After all that's the whole point is it not?

Have a good weekend all.

Best Regards
iNetBet Promos

This is how I see it, correct me if I have got it wrong.


deposit $10 as entry fee, and this is made up to $11

I am then allowed to play exactly $50 worth of spins, and then I am "booted", and my balance is used to work out my position in the tournament.
All but the initial $10 is then removed, and I am left with my $10, free of any further restrictions. If I bust, I am left with nothing, and don't get the $10 back.

The most I can POSSIBLY win from my $10 "wager" is $100, or 10x stake.

The real argument is over the following scenario.

I start wagering my $11, and OMG - I hit the RJ - I carry on until I have wagered $50 worth of spins, and then everything is taken away except my starting $10. Later, I probably win $100 because I had the highest balance.

HOWEVER, had I simply taken a NORMAL coupon, even if it were $10 for 10% bonus, I would have KEPT my RJ, and wouldn't care a bit about not winning the $100 because I had many times that amount from the RJ.

It is about how the player PERCEIVES "luck". The wasted "lucky hit" that was lost is paid for by removing the lifetime "allowance" of luck in hitting RJs.

The $100 prize will be a hollow victory, and the player feels like $h1t because of what they COULD have had if they had played from a $11 deposit of their own, rather than $10 of their own, and $1 "birthday boost" from the casino.

Why have the boost at all, just have $11 as the entry fee, no strings, and highest cash in wins the prize. Tournament is the same in concept, but there is NO complication due to all this max win & confiscation malarkey because $1 of bonus money was added.

If this scenario does actually happen to a player, unlikely as it is, they are unlikely to be happy about it, and will regret ever having tried this tournament idea.

Why not just give everyone a $11 free chip to start the tournament, a max cashout is expected on these anyway, make having deposited within the last x weeks a precondition to receiving the $11 and tournament entry.

 

[chayton]

Well I'm gonna try it tomorrow and see what happens. I just turned $40 into 0, so if I can turn $10 into $100 that's a big improvement. If I come back whining cause I won my first RJ while playing the tournament and it didn't count, then you can all make fun of me.

I have a question for iNetBet though that I didn't see an answer to - is the prize money from the tournament subject to playthrough as well? Or is it cash money?

 

[darkpixie]

This question is directed at the Inetbet rep.

So here is the deal. Players play this tournament. Win REAL money. Amounts over $10 are confiscated once play through is reached (this means the winnings are removed from the machines and placed directly in Inet's pockets after all its not like Inet can put a $50 win back into the machine it came from). If this were a fair tournament the winnings would be placed into the prize pool and dolled out accordingly (Inet taking their cut of course). Instead Inet is pocketing the winnings. Pretty brilliant if you ask me.

Don't get me wrong, I am playing the tourney, however the case of the winnings that are being removed from the machines via the tournament and the fact that you have no way to check your stats does put me off quite a bit.

Under scrutiny by a higher power I think Inet may be treading on thin ice here as it amounts to hiring a team (the player) to empty the machines for them and effectively place real depositors on the tilt.

 

[darkpixie]

Another thing that picks my butt, when you clear the wagering if you are in autoplay, it just keeps on spinning... no notice nothing... so down $4 bucks of my ten because I was doing other things

 

[all4greed]

Why not just give everyone a $11 free chip to start the tournament, a max cashout is expected on these anyway, make having deposited within the last x weeks a precondition to receiving the $11 and tournament entry.

Attention Promotions Manager:

Hire this person. Seriously...

 

[KasinoKing]

So here is the deal. Players play this tournament. Win REAL money. Amounts over $10 are confiscated once play through is reached (this means the winnings are removed from the machines and placed directly in Inet's pockets after all its not like Inet can put a $50 win back into the machine it came from). If this were a fair tournament the winnings would be placed into the prize pool and dolled out accordingly (Inet taking their cut of course). Instead Inet is pocketing the winnings. Pretty brilliant if you ask me.

I think you are confusing online slots with real physical machines.
There are no "physical winnings" for iNet to put in to any pockets.
The only thing which is effected with this tournament are the RJs, and they have already stated that should these be hit the cash will be put back into the pot.

My only concern with this is how quickly the RJs are returned; suppose someone won a $5K RJ during this tourney and the slot reset to $1K, then a player NOT in the tourney hit it before the $5K had been put back - would iNet give that player the other $4K he missed out on?

Attention Promotions Manager:

Hire this person. Seriously...

They couldn't afford him!

KK

 

[darkpixie]

KasinoKing you are completely ignoring simple rules of logic and mathematics. Although a casino is random, that RNG is based upon a non random payout percentage.. In my example 97%.

If an online casino has say a 97% payout over all without the tournament then logic would stipulate that the following scenarios would occur:

1. Player deposits $10 no bonus no tournament. Player wins say $50. The player would then do one of the two. Play back the winnings, or withdraw. In the case of withdrawing that $50 would count towards the casinos 97% payout.

2. Player deposits $10 and gets the $1 for the tournament. Player wins $50. The casino withdraws the $50 winnings and doing who knows what with it. The $50 still counts towards the casinos 97% payout. Player only gets their original $10 deposit back, but busts out.

3. Player deposits $10 and gets the $1 for the tournament. Player wins $50. The casino withdraws the $50 winnings and doing who knows what with it. The $50 still counts towards the casinos 97% payout. Player only gets their original $10 deposit back, and wins another $50 and withdraws, counting further towards the 97% payout.

4. Several players of this tournament will eventually bust out. Great news for the casino. No need to pay any winnings.

To further illustrate, say 1000 people enter the tournament. That is $10000 in tournament fees. Say of that 1000 people 10% or 100 of them actually complete play through and have $50 confiscated. That is another $5000 the casino is keeping and not putting back into play. So the casino has made $15000 on a tournament that is offering a whopping $100 top prize. Heck if I could get that gig I would

 

[vinylweatherman]

KasinoKing you are completely ignoring simple rules of logic and mathematics. Although a casino is random, that RNG is based upon a non random payout percentage.. In my example 97%.

If an online casino has say a 97% payout over all without the tournament then logic would stipulate that the following scenarios would occur:

1. Player deposits $10 no bonus no tournament. Player wins say $50. The player would then do one of the two. Play back the winnings, or withdraw. In the case of withdrawing that $50 would count towards the casinos 97% payout.

2. Player deposits $10 and gets the $1 for the tournament. Player wins $50. The casino withdraws the $50 winnings and doing who knows what with it. The $50 still counts towards the casinos 97% payout. Player only gets their original $10 deposit back, but busts out.

3. Player deposits $10 and gets the $1 for the tournament. Player wins $50. The casino withdraws the $50 winnings and doing who knows what with it. The $50 still counts towards the casinos 97% payout. Player only gets their original $10 deposit back, and wins another $50 and withdraws, counting further towards the 97% payout.

4. Several players of this tournament will eventually bust out. Great news for the casino. No need to pay any winnings.

To further illustrate, say 1000 people enter the tournament. That is $10000 in tournament fees. Say of that 1000 people 10% or 100 of them actually complete play through and have $50 confiscated. That is another $5000 the casino is keeping and not putting back into play. So the casino has made $15000 on a tournament that is offering a whopping $100 top prize. Heck if I could get that gig I would

You are confusing RTP with "hold". RTP is simply the sum of game payouts divided by the sum of wagers made. It is the same whether the casino offers bonuses, confiscates winnings, etc.

What DOES increase however, is the HOLD, because there is confiscation of excess winnings from those players taking part. They are giving each player an extra $1, and if they win, they get to keep their initial $10 fee, which you would do anyway, even WITHOUT playing the tournament. HOWEVER, instead of the winners keeping everything after meeting WR on their $1, they have the excess above $10 confiscated, and the casino ONLY pays a fixed sum in prizes, rather than the total sum of winnings made by the winners. Unless the casino is unlucky, this is a good deal for them because the excess winnings is likely to be greater than the fixed prize fund. Only if the tournament winners win with a balance LOWER than their prizes will they benefit, but even so, those players with lower balances, but above $10, will get NO prize, nor will they keep their small amount of winnings.

This is a pretty bad offer, but mainly because of the "what if" factor, such as "what if I won the RJ whilst playing the tournament....."


My suggestion removes nearly all the negative arguments. Give out a $11 free chip & tournament code to QUALIFYING players only, and the max cashout and concept of "tournament mode" would be more in line with what is expected of ANY of the normal free chip offers from iNetBet. NO player would be in a position of losing $10 of REAL money by missing out on the prizes.

The only other solution would be to give EVERYBODY back their $10, so AGAIN no player was risking $10 with no chance of winning more than $100, but every chance of busting out.

 

[darkpixie]

FWIW, I won second prize, doubled up then busted out on Naughty or Nice

 

[just play]

FWIW, I won second prize, doubled up then busted out on Naughty or Nice

Was there a playthrough? I saw your name, I smiled cuz I remembered reading that you were going to play.