Venting Ladbrokes loss limits possibly exceeded, what can I do?

[snp_dx2]

I was contacted by Ladbrokes over the phone as they had disabled my account due to irregular deposits/wagers. For some background information I have only been active on gambling sites for around 8 weeks. Made over £15,000 very quickly. Ladbrokes asked me to set a monthly deposit limit and took my details such as income, job type, monthly spends etc. This was not requested by me but they set it anyway to be on cautious side, within a few days I have lost absolutely everything although on the Ladbrokes app it says my monthly loss limit is £1050, is this a glitch? Can I get my money back? I understand I have been very stupid but the restrictions that were suppose to be put in place and that they informed me of being in place didn’t work at all?

 

[dunover]

I was contacted by Ladbrokes over the phone as they had disabled my account due to irregular deposits/wagers. For some background information I have only been active on gambling sites for around 8 weeks. Made over £15,000 very quickly. Ladbrokes asked me to set a monthly deposit limit and took my details such as income, job type, monthly spends etc. This was not requested by me but they set it anyway to be on cautious side, within a few days I have lost absolutely everything although on the Ladbrokes app it says my monthly loss limit is £1050, is this a glitch? Can I get my money back? I understand I have been very stupid but the restrictions that were suppose to be put in place and that they informed me of being in place didn’t work at all?

If you have been allowed to exceed any deposit limits set, then they are liable.

BUT....

I am taking a shot here that like many casinos which don't like players winning and then setting deposit limits in order to avoid spunking it back, they have misdescribed deposit limits as loss limits.

In other words, rather than a pure DL of say 1050, they've offset wins against your subsequent losses within the month period?

So you have been allowed to lose money and more money until your 15k went back and left you a net 1050 down within the limit period?

 

[snp_dx2]

If you have been allowed to exceed any deposit limits set, then they are liable.

BUT....

I am taking a shot here that like many casinos which don't like players winning and then setting deposit limits in order to avoid spunking it back, they have misdescribed deposit limits as loss limits.

In other words, rather than a pure DL of say 1050, they've offset wins against your subsequent losses within the month period?

So you have been allowed to lose money and more money until your 15k went back and left you a net 1050 down within the limit period?

Over the phone the guy said I would need to lose around 3000 from my current balance for the monthly loss limit to take affect, also current lifetime net deposits are now -2000+,

thank you for your reply not feeling great right now and really want some advice. All of my savings gone along with my hopes for life to be perfectly honest, young guy only just developed this gambling addiction over a span of the last few days. It’s happened so quickly.

 

[dunover]

Over the phone the guy said I would need to lose around 3000 from my current balance for the monthly loss limit to take affect, also current lifetime net deposits are now -2000+,

thank you for your reply not feeling great right now and really want some advice. All of my savings gone along with my hopes for life to be perfectly honest, young guy only just developed this gambling addiction over a span of the last few days. It’s happened so quickly.

Yes, so it sounds like you never set or had the protection of an actual deposit limit?

In other words, if that DL was £1000 in any given period, once you have made 1k of deposits you cannot deposit another penny within the period, whether you lost the whole 1k, or won and withdrew 50k.

IF HOWEVER..

you set an actual deposit limit as well as a loss limit, then under NO circumstances should you have been allowed to exceed that deposit limit irrespective of net win/loss position. Then you would have a cause for a serious complaint.

 

[snp_dx2]

Yes, so it sounds like you never set or had the protection of an actual deposit limit?

In other words, if that DL was £1000 in any given period, once you have made 1k of deposits you cannot deposit another penny within the period, whether you lost the whole 1k, or won and withdrew 50k.

IF HOWEVER..

you set an actual deposit limit as well as a loss limit, then under NO circumstances should you have been allowed to exceed that deposit limit irrespective of net win/loss position. Then you would have a cause for a serious complaint.

Really appreciate the response, I understand I’ve made a massive mistake and can’t stress that enough, I’m just asking for advice because I had roughly £2000 in my balance, roughly +£12,000+ lifetime net deposit/withdrawal, and then I recieve a call telling me my monthly loss limit has been set to £1050 and I can only lose around £3000 from then before my loss limit takes affect. But then I’m able to lose everything? I hope that makes sense, thank you man.

 

[winner2021]

So to be clear, you never withdrew the 15k that you won you spent it all back? If it's loss limit they would allow that because you were in profit for the month as dunover said. Loss limit is different to deposit limit. You must be absolutely gutted though, I'm so sorry

 

[snp_dx2]

I withdrew had around 2000 in my balance when I got set the monthly limit and was told I could lose roughly 3000 before loss limit takes place

So to be clear, you never withdrew the 15k that you won you spent it all back? If it's loss limit they would allow that because you were in profit for the month as dunover said. Loss limit is different to deposit limit. You must be absolutely gutted though, I'm so sorry

 

[dunover]

I withdrew had around 2000 in my balance when I got set the monthly limit and was told I could lose roughly 3000 before loss limit takes place

Please do NOT post threads and content which people reply to then edit/remove it!!

 

[snp_dx2]

Please do NOT post threads and content which people reply to then edit/remove it!!

You can delete the post I’m sorry thank you for your help..

 

[dunover]

You can delete the post I’m sorry thank you for your help..

No need to delete your thread, it's a valid topic and people have helped you, but what I will do given what you have said is ask @maxd to maybe move you to a help section for quitting gambling?

I withdrew had around 2000 in my balance when I got set the monthly limit and was told I could lose roughly 3000 before loss limit takes place

Yes, that figures because they set you a 1050 LL at the stage when you were 2k ahead, therefore had a swing from that moment of 3050 before your account was locked from depositing.

So therefore you should not have been able to lose 15k back from that point UNLESS you had made that gain within the loss-limit period, in which case you would have been able to spunk back all your profits (12 or 15k?) PLUS the 1050 limit to leave you net 1050 minus.

If you were new to gambling or naive they really should have told you on the phone about deposit limits too (assuming they don't run their DLs in a bogus way whereby they are actually the same as loss limits).

 

[snp_dx2]

After reading ladbrokes policies it is completely allowed what has happened, thanks for all your help and I do ask is that you remove the post please but if you don’t want to then it’s okay you guys are the moderators and it’s your website,

appreciate all the help thanks

 

[dunover]

After reading ladbrokes policies it is completely allowed what has happened, thanks for all your help and I do ask is that you remove the post please but if you don’t want to then it’s okay you guys are the moderators and it’s your website,

appreciate all the help thanks

Yes, we don't as a rule remove posts unless there's a compelling or legal reason. They are anonymous anyway and it's unfair on members who've replied or tried to help you, to see their efforts wiped.

Would you like to be moved to the quit gambling section here, meaning you can't view offers, winning images and anything else that would appeal to a PG?

 

[09237653]

there is two types of loss limit on some sites on mrQ for example i have £100 daily limit (set by me) but they added a £500 a month loss limit but this is offset by withdrawals so if i win £500 it will then be a grand,

they have also since extended this to daily deposits so if withdraw £100 my daily deposit limit is then £200 for the rest of that day bit sneaky, yes you can win but we will let you redeposit the lot if you like, screw the limits.

 

[dunover]

there is two types of loss limit on some sites on mrQ for example i have £100 daily limit (set by me) but they added a £500 a month loss limit but this is offset by withdrawals so if i win £500 it will then be a grand,

they have also since extended this to daily deposits so if withdraw £100 my daily deposit limit is then £200 for the rest of that day bit sneaky, yes you can win but we will let you redeposit the lot if you like, screw the limits.

And that is what infuriates me, it's disingenuous, underhand and probably a trading misdescription.

A deposit limit is a deposit limit, regardless of any withdrawals. Every time.

 

[aristocrathatesme]

Sincere commiserations OP, thats a horrible result especially for a new gambler. I’ve had some grim sporting losses in the past so I’ve been in similar positions, though I never had the means to lose as much, I’m sure if I had I would have lost a lot more.

Echoing what was said about net deposits, I concur that they are pure evil and that they are the major thing that has me questioning if the Gambling Comission is anywhere near fit for purpose. They are 100% in the bookies/casinos favour and I am sure have made gambling problems much worse for a significant number of people. In fact I’m astounded that they signed off on them at all. I’m seeing the dark side of slots myself currently after the opposite last month, another two from two putrid bonus rounds today. I always recommend using deposit limits because things can spiral quickly.