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Loss limit way over

Discussion in 'Online Casinos' started by BillalKH, Feb 11, 2018.

    Feb 11, 2018
  1. BillalKH

    BillalKH Newbie member PABnonaccred

    Location:
    Norway
    Hi guys! I have a daily loss limit of 100 NOK and I tried to bet 50 000 NOK in live black jack and my bet got accepted :oops:. Can the casino claim the win back? Or if I had lost could I claim my money back?
     
  2. Feb 11, 2018
  3. trancemonkey

    trancemonkey Meister Member

    Occupation:
    Games Producer
    Location:
    United Kingdom
    You have a daily loss limit of the equivalent of €10, and you bet €5,000? We're you over your loss limit at the point you bet?

    A loss limit only comes in to play on the bet AFTER you break the limit. So if the bet will take you over your limit it won't stop you placing the bet - it will only stop you placing the first bet AFTER you broke your loss limit.

    Does that make sense?
     
  4. Feb 11, 2018
  5. BillalKH

    BillalKH Newbie member PABnonaccred

    Location:
    Norway
    Hi! Yes it does make sense actually. So if I win I would get to keep the bet or do I have to pay it back? It was my first bet also yes
     
  6. Feb 11, 2018
  7. trancemonkey

    trancemonkey Meister Member

    Occupation:
    Games Producer
    Location:
    United Kingdom
    At the point you made the bet, you weren't over your loss limit so of course you keep any winnings.
    If you had lost the bet, you would not be able to bet any longer until your loss limit resets in however many days you have chosen...
     
  8. Feb 11, 2018
  9. Mr Wild

    Mr Wild Experienced Member

    Occupation:
    Online Casino
    Location:
    Malta
    That is not really the case. A casino should not allow any bets over your loss limit.
     
  10. Feb 11, 2018
  11. BillalKH

    BillalKH Newbie member PABnonaccred

    Location:
    Norway
    Ahh okay now I get you. But when I placed the bet, the bet is more then my limit of 100 NOK. But I get what your saying, after that bet no matter how much it is I can’t place another...
     
  12. Feb 11, 2018
  13. Mr Wild

    Mr Wild Experienced Member

    Occupation:
    Online Casino
    Location:
    Malta
    If you played at a casino with an EU licence. You will be able to reclaim your loss via MGA or maybe a PAB via the forum.
     
  14. Feb 11, 2018
  15. trancemonkey

    trancemonkey Meister Member

    Occupation:
    Games Producer
    Location:
    United Kingdom
    Incorrect - the reason is that until the bet is settled, you haven't lost. Therefore the loss limit is not breached.
    The document you want to read is the following - RTS 12 (Page 25).

    You must register/login in order to see the link.

    That doesn't mean the casino can't decide not to accept the bet, but legally they have done nothing wrong.
     
    Last edited: Feb 11, 2018
  16. Feb 11, 2018
  17. colinsunderland

    colinsunderland Experienced Member MM webmeister

    Occupation:
    affiliate
    Location:
    uk
    I thought it worked the way trancemonkey said too tbh (not that I think it should), do you have a link to where it states that please?
     
  18. Feb 11, 2018
  19. BillalKH

    BillalKH Newbie member PABnonaccred

    Location:
    Norway
    So can casino decide to accept the bet when I lose and decline the bet when I win?
     
  20. Feb 11, 2018
  21. theapple

    theapple IR hates apples

    Occupation:
    i work... slave labor sort of work. like most of u
    Location:
    far far away
    i know legally they havent done wrong but also, legally, they allowed you to lose 5k while your limit was 10. Its all legal of course.

    Regardless, if what you were saying was true basically it should be loose - loose situation for the casino. Player wins no limit was breached, player looses - they have to refund it because you know, player lost that sum afterall, which is way above loss limit. but since its a world where casinos get it their way it pretty much allows casinos to give you back your money if you win big, and say "you cant bet that much", if you loose.

    Speaking of which ive had similar situation at one of my fav casinos in the past, my limit was $25 or so and i accidentally made $18 bet on DoA (was playing 18c prior to that, and was ... "shuffling"), and that bet put me above my daily loss limit. Casino in question refunded my bet and promised to work on changing how loss limit works. I dont play that often anymore and i have zero desire to test it so not sure if it changed or not so wont name the casino because i can see how it could be misused by not so nice players. Mind you i dont really like the fact it basically gives green light for casinos to abuse that rule so you can see why am i not entirely happy with the way it works.

    you can try to sugarcoat it as much as you want but saying its not lost til the bet is settled is really pushing it. Even so, what happens after it was in fact lost, with a bet that was 50x or 500x higher than players loss limit?
     
  22. Feb 11, 2018
  23. Mr Wild

    Mr Wild Experienced Member

    Occupation:
    Online Casino
    Location:
    Malta
    In Malta they would have done it wrong and this is not a UK player.
     
  24. Feb 11, 2018
  25. Mr Wild

    Mr Wild Experienced Member

    Occupation:
    Online Casino
    Location:
    Malta
    Reading what you refer to dont say what you are saying?
    Please copy the part where the casino can take a bet of 50000 eur if loss limit is 10 eur?
     
  26. Feb 11, 2018
  27. BillalKH

    BillalKH Newbie member PABnonaccred

    Location:
    Norway
    I have sent an email to MGA as well because this site told me that they will give me an answer on what’s going to happen tomorrow. So I will wait and see what MGA also says :). Yes I lost the bet in this case, and that’s not the reason I made this post.

    Reason is if they are allowed to misuse this then what’s the point with a loss limit when the first bet you place is 1000 times as much as allowed example.
     
  28. Feb 11, 2018
  29. trancemonkey

    trancemonkey Meister Member

    Occupation:
    Games Producer
    Location:
    United Kingdom
    I'm not suggested it was morally correct to do so, but until he has LOST more than his lost limit, the loss limit is not breached. (technically).

    I would also imagine that most players don't set a 10 € limit and then try and bet 5000 € in a single hand, hence the reason the rule works the way i've suggested.
    If the OP chose to set the limit that low and then gamble that much on a single hand, i think he should seriously look at his gambling to see if he has a gambling problem. That doesn't infer that he does - just that he may want to consider if he does or not.

    How each casino decides to implement the rule is up to them - personally i don't think a casino should take a bet that would mean you breached your loss-limit if you lost.

    FWIW - Betfair work how i think it morally should
     
    BillalKH likes this.
  30. Feb 11, 2018
  31. Harry_BKK

    Harry_BKK Senior Member CAG mm1

    Occupation:
    job is OK
    Location:
    Balcony
    I think that you are mixing-up bet and loss limit.

    - Bet limit - maximum bet size you can place for one single bet
    - Daily Loss Limit - maximum net amount you can lose in one day. E.g. you deposit NOK100, lose it and you are done. But if you win NOK4,900, bringing your balance to NOK5,000, you can bet then NOK5,000 without breaching your daily loss limit.

    It is best to set up a daily loss limit and a maximum bet limit. That way you avoid not just higher losses by also doing big bets.

    Hope I explained it well.
     
    Borgie and colinsunderland like this.
  32. Feb 12, 2018
  33. BillalKH

    BillalKH Newbie member PABnonaccred

    Location:
    Norway
    No but my first bet was 50 000 NOK not 100 and builder up to 50k

    Side note: I managed to win it all back though
     
    Last edited: Feb 12, 2018
  34. Feb 12, 2018
  35. BillalKH

    BillalKH Newbie member PABnonaccred

    Location:
    Norway
    Now I won it back because today is new limit. I hope they don’t say hey you bet this and that and take my money.

    Another thing, is there anyway to donate to this site? Never been anywhere where people can so much important stuff.
     
  36. Feb 12, 2018
  37. Harry_BKK

    Harry_BKK Senior Member CAG mm1

    Occupation:
    job is OK
    Location:
    Balcony
    Really puzzles me, you say you have a NOK100 lost limit / day and you start straight away with a NOK 50K bet? :what:

    Questions that come up

    - did you deposit on that day and how much?
    - did you really start with a NOK 50K bet? or did you build up the balance first from where you would be able to place NOK 50K bets?


    I agree with trancemonkey, but I have seen different set-ups in the past. Some casinos won't let you place a bet that could potentially lead to being over the loss limit, some let you make bets until you are indeed past the daily loss limit. In the second case you could be just NOK1 from your loss limit but would still be able to bet NOK 50K as only after losing that bet would the limitation trigger.

    Overall though, I am somewhat worried that you have indeed a gambling problem. Apologies if am wrong but betting NOK 50K in one shot, losing it and then going back the next day repeating the same is dangerous territory.
     

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