loss limits

[steveyboy]

this shows what a farce loss limits are, i deposited £200 on saturday had a few good wins withdrew £1000. on sunday played with winnings and won some more so withdrew £1300,carried on playing and then slot was stopped due to reaching loss limit, i had £635 left so withdrew that. i cannot play now for i think till 24th july. daft or what.

 

[Jono777]

Very!

 

[satchnz]

There sure are some geniuses who work in this industry…

 

[dunover]

this shows what a farce loss limits are, i deposited £200 on saturday had a few good wins withdrew £1000. on sunday played with winnings and won some more so withdrew £1300,carried on playing and then slot was stopped due to reaching loss limit, i had £635 left so withdrew that. i cannot play now for i think till 24th july. daft or what.

No, that's a loss limit for you. There's net loss limits (deposits minus w/d's), deposit limits which should be exactly that for the period i.e. irrelevant are wins or w/d's and you can only deposit the amount set. This seems odd admittedly but imagine it was one of those awful casinos where they misdescribe a loss limit as a deposit limit and you found you could keep depositing and losing all your 3k w/d's or winnings until you were £200 down for the month overall. At least you can't spunk the winnings back, I know which I'd prefer.

 

[jasonuk]

No, that's a loss limit for you. There's net loss limits (deposits minus w/d's), deposit limits which should be exactly that for the period i.e. irrelevant are wins or w/d's and you can only deposit the amount set. This seems odd admittedly but imagine it was one of those awful casinos where they misdescribe a loss limit as a deposit limit and you found you could keep depositing and losing all your 3k w/d's or winnings until you were £200 down for the month overall. At least you can't spunk the winnings back, I know which I'd prefer.

I think you're describing a gross deposit limit (deposits ignoring withdrawals) here - which exist in tandem with net deposit limits (deposits minus withdrawals).

I have been hearing a lot more grumbling about secondary limits of late - which to clarify are:

• spend limits - amount wagered, ignoring all other variables
• loss limits - amount wagered minus amount returned (ignoring deposits and withdrawals)

As loss limits can be automatically set by the casino and often non-obvious (either not disclosed or not highlighted to the player), they can cause some weird interactions:

• a player is allowed to deposit more than they can wager (e.g. a £200 monthly deposit limit vs a £100 monthly loss limit), and isn't disclosed until after they have deposited (i.e. when they hit the loss limit)
• a player is restricted from bigger sessions after winning (e.g. a £100 daily loss limit - so if they win £1000 on Friday, this is ignored on Saturday)

Limits are important, similarly they need to be clear and accurate - some of the incoming implementations are akin to headless chickens! I avoid session limits like the plague because so many sites can't calculate it correctly (one informing me I've been logged in for a month despite logging in and out daily), and similarly some can't calculate profit and loss either - in one case the claimed P&L for the past 30 days was wrong by more than £100!

Particularly important when these triggers are being used to assert risk profiles, which can not only reduce limits, but can opt you out of promotions (and in the worst case, unregister you from prizes you'd already qualified for!)

 

[dunover]

I think you're describing a gross deposit limit (deposits ignoring withdrawals) here - which exist in tandem with net deposit limits (deposits minus withdrawals).

I have been hearing a lot more grumbling about secondary limits of late - which to clarify are:

• spend limits - amount wagered, ignoring all other variables
• loss limits - amount wagered minus amount returned (ignoring deposits and withdrawals)

As loss limits can be automatically set by the casino and often non-obvious (either not disclosed or not highlighted to the player), they can cause some weird interactions:

• a player is allowed to deposit more than they can wager (e.g. a £200 monthly deposit limit vs a £100 monthly loss limit), and isn't disclosed until after they have deposited (i.e. when they hit the loss limit)
• a player is restricted from bigger sessions after winning (e.g. a £100 daily loss limit - so if they win £1000 on Friday, this is ignored on Saturday)

Limits are important, similarly they need to be clear and accurate - some of the incoming implementations are akin to headless chickens! I avoid session limits like the plague because so many sites can't calculate it correctly (one informing me I've been logged in for a month despite logging in and out daily), and similarly some can't calculate profit and loss either - in one case the claimed P&L for the past 30 days was wrong by more than £100!

Particularly important when these triggers are being used to assert risk profiles, which can not only reduce limits, but can opt you out of promotions (and in the worst case, unregister you from prizes you'd already qualified for!)

It seems he was victim of a dynamic or rolling loss limit. In other words, at any point of play, if his balance had reduced by £200 then he was locked out. If the casino has executed this without proper explanation then it would indeed annoy me immensely, especially if I was 3k up. I agree that the various limit permutations can be moot i.e. your example of having a £100 loss limit and a £200 deposit limit.

 

[shadow123]

Why does everything have to be so complex in the UK,apart from a few special cases it should be so simple..
Casino determines a loss limit for a player according to the information they have from docs and player profile,
the player is allowed to lose a maximum of that amount over a set period , usually a month.
Any deposits are deducted from the limit and any withdrawal added to the limit,
The cash balance in the account does not come into it.
After a hiccup with Lottomart the,their system their system works perfectly, i have a loss limit of x, i have won y and withdrawn it,
my current loss limit is now × + y.
Trying to run deposit limits side by side with loss limits and calculating real time losses while the player is active just
produces unneeded complications.

 

[steveyboy]

have been onto chat about this and here is the answer,the loss limit is based on the total outcome of bets-wins from your starting balance during a set time period. 1 your loss limit will decrease with £1,but if you win £1 your loss limit will increase with £1.
my loss limit is £800 and it resets after 24 hours. i still think its a farce as i have no limit on deposits, only the loss limit which casino placed.

 

[jasonuk]

A little communication can go a long way... pity most casinos seem to have forgotten that!