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Jackpot247 beware - bonus conditions almost guarantee you will lose initial depost

Discussion in 'Casino Complaints - Bonus Issues' started by EasterEEL, Apr 28, 2012.

    Apr 28, 2012
  1. EasterEEL

    EasterEEL Dormant account

    Occupation:
    IT Manager
    Location:
    UK
    Jackpot247 backed by ITV - beware - bonus conditions almost guarantee you will lose initial depost.

    Ths casino is offering a very attractive bonus very recently. Open an account and you will get:
    £10 absolutely free
    3x deposit up max deposit of £200.

    So deposit £200 and get £610, sounds great.

    However:
    £10 bonus requirement is x99 and any winnings accrued may not be withdrawn until you have wagered at least 99x your bonus amount within 30 days of the issue date.
    3x depost bonus requirement is x25 and any winning accrued may not be withdrawn until you hve wagered at least 25x your deposit and bonus within 30 days of receving the bonus.

    I was lucky enough to get decent winnings whilst playing with my cash and wanted to withdraw my deposit and winnings and foregoing my bonus which I had not touched but this is not possible, it is only possible to withdraw original depost and lose accrued winning and bonus.

    The way the accounting works is wagering stakes are taken from cash but returns are added to bonus. If bonus is above 3x deposit + free £10 then stakes are taken from bonus. You can easily end up with withdrawable cash deminishing but bonus increasing. There was know way of knowing they would take wagering from cash first but add winnings to the bonus, which happened to me, it's not in the T&C. I ended up with withdrawable cash of approx £100, but a bonus + winnings of nearly £700 inaccessible until I had turned over approx another £14000.

    The bonus is great for having decent play time on the games but is there is very little chance of coming out with any cash even if you get a decent win. You pretty much have to accept you are paying for some entertainment time. It is not gambling in sense of a normal risk-rewards sense of a casino. I would argue the marketing and selling of the product is actually misleading and deceptive. I would like to see some statistics of how many new account holders ever come out with a withdrawable profit situation, My guess nobody except when a big win in the thousands occurs.

    I don't play casino's much nowadays but a few years ago, you were able to draw out original cash plus winning, just not the bonus and this is a much fairer way of giving the account holder a chance of actually achieving a profit occasionally.
     
  2. Apr 28, 2012
  3. vinylweatherman

    vinylweatherman You type well loads CAG MM

    Occupation:
    STILL At Leisure
    Location:
    United Kingdom
    This is pretty normal, if anything somewhat on the generous side.

    Although it appears that your cash wins end up as bonus, this could just be down to the way the software displays it. It is what happens once you meet the full turnover that matters. You will either be able to cash out the entire balance, or the bonus will be removed, and only your deposit and winnings paid - this is what is known as a "phantom bonus", and is common with Playtech and RTG powered casinos, whereas Microgaming casino will pay the entire balance on meeting WR.

    There may also be rules governing which games can be played whilst meeting WR (or turnover), and even the maximum that can be bet per deal or spin.

    WR = Wagering Requirement, the technical term for turnover, or the total value of bets that must be placed before any withdrawal can be made.
     
  4. Apr 28, 2012
  5. Nifty29

    Nifty29 Dormant account

    Occupation:
    PAID CASINO SHILL
    Location:
    Turn right, then right. then right again
    I agree with Vinylweatherman, but I'm not thanking him as I have also decided that I will accept but not give out thanks, in accordance with Vinyl's UN-sponsored TBNPT (Thanks Button Non Proliferation Treaty) which I signed yesterday in The Hague.....

    I also agree with the OP that casinos should give bonuses with little or no wagering requirements to make winning a certainty for those who don't like to gamble too much of their own cash.
     
  6. Apr 28, 2012
  7. KasinoKing

    KasinoKing WebMeister & Slotaholic.. CAG MM PABnonaccred webmeister

    Occupation:
    House-Husband and Casino Advisor
    Location:
    Bexhill on sea, England
    I agree with everything Vinyl said (he just posted before me!) - these sort of terms are the NORM in the online gaming world.

    Assuming the turn-over can be played on Roulette & BlackJack (because it's a live dealer casino) then as VWM said, this is actually a very good bonus!

    KK
     
  8. Apr 28, 2012
  9. EasterEEL

    EasterEEL Dormant account

    Occupation:
    IT Manager
    Location:
    UK
    Which of couse is not what I wrote at all.

    I would like casinos to give account holder a chance of actually winning money and withdrawing it. Especially when the account holder has only played with his own deposited money and has never touched the bonus. Or alternately state quite clearly "you are depositing money for entertainment value only as our bonus T&C will make it almost impossible for you to win and withdraw winning. And the way we take your wager amounts can result in your withdrawable cash balance deminshing even though your overall balance has increased due to your winnings."
     
  10. Apr 28, 2012
  11. KasinoKing

    KasinoKing WebMeister & Slotaholic.. CAG MM PABnonaccred webmeister

    Occupation:
    House-Husband and Casino Advisor
    Location:
    Bexhill on sea, England
    You CAN do this if you play without a bonus.

    If any casino gives you a bonus you don't want - ask them to remove it BEFORE you start playing.
    Then you can play any games you want & cash out any time.

    I know why you are thinking "...but I didn't even use the bonus money" - but that is not the point; once a bonus is put into your account it is there for you to use if you want to or need to (like when you lose all your deposited funds).
    Like everything "free" in this world - that comes with a price!
    The price is the WR you have to achieve in order to cash out.
    Think of it like car insurance - you may never make a claim in your life, but you still have to pay for it! :(

    KK
     
  12. Apr 28, 2012
  13. vinylweatherman

    vinylweatherman You type well loads CAG MM

    Occupation:
    STILL At Leisure
    Location:
    United Kingdom
    It IS possible to win under those terms, and many of us DO.

    I deposited at a Microgaming casino, and this tied me to wager 30x the 50% bonus credited, and this applied to slots. I would have had to wager much more had I played Video Poker. I didn't just win, I caned their ass. This is because I had a good deal of positive swings in variance, and this boosted my bankroll so high that WR was easily made, and in the end I played significantly more than required, and made a near 300% profit on my starting balance.

    You may find the Microgaming bonus system more to your liking, as although it is 30x rather than 25x, this is applied only to the bonus credited, rather than the total of deposit+bonus. In some cases, you CAN withdraw before completing the turnover, and only have any remaining bonus removed.
     
  14. Apr 29, 2012
  15. EasterEEL

    EasterEEL Dormant account

    Occupation:
    IT Manager
    Location:
    UK
    Many thanks for the replies. Actually apart from the bonus T&C which by the sound of it are fairly common nowadays the bonus itself is very generous and there is a lot to like about the casino. Good choice of games (it's Playtech) excellent graphics and rock solid connection.

    Maybe I'm on a hot streak but I have built up plenty of cash and I think there is every chance I am going to come out with something if I stay shrewd and play smart. :)
     
    1 person likes this.

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