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Reverse w/d or not rant

Discussion in 'Online Casinos' started by ksb11, Apr 22, 2012.

    Apr 22, 2012
  1. ksb11

    ksb11 Senior Member

    Occupation:
    Personal Trainer
    Location:
    Wait'n for a payout!
    If I'm playing at a casino lately that doesn't process payouts over the weekend the chances of me reversing are about 99%. No matter how many time I tell myself or how convincing I try to be (to myself) it never fails. Now, I don't always lose but that's not really the point, I still say it's a dumb move. I need to learn to recognize the value of the $$ I have pending and play again new in a few days.

    I can't help to be fascinated, because casino's recognize this behavior to be the nature of a gambler and most take full advantage of it. Now places like 32 Red, 3 Dice, ect. might use a different business model, such as process the payout fast, keep customers happy and they will return. But I think that some of these USA facing RTG's like CWC, Bovada, ect. take full advantage of our (USA) limited choices. Don't get me wrong, I am not dissing but it is what it is. Now your not gonna hear me blame a casino for my actions of reversing and losing because that has happened many times to me. It comes down to discipline not being a gamblers best attribute I guess, and casino's know that right?

    Now if I had of lost I wouldn't have the emotional energy to make this post but since I didn't I wanted to talk about this reversing pending payouts thing. I have got extremely lucky this weekend reversing my CWC withdrawal about 5 times, from $3100, down to $1500, back up to $2500, down to $700 back up to $2850 and I'm done with the heart attacks! It seems like you just do not realize how much money $2500 is until you lose it and then your like, " what have I done "? So that's it, $2850 minus the $350 initial bonus = the max cheque of $2500 and I'm out!
     
    4 people like this.
  2. Apr 22, 2012
  3. nisosbar

    nisosbar Ueber Meister PABnonaccred

    Occupation:
    Other
    Location:
    Right here
    LOL good points. We've all reversed and lost. However, I've also reversed and bumped my balance upward. It's just the risk you take. You have to be prepared to lose, so as long as it's just mad money, it's an open question.
     
  4. Apr 22, 2012
  5. butterflyboogie

    butterflyboogie Senior Member MM

    Occupation:
    Making Money
    Location:
    Casino Oblivion
    I have done the same thing and kicked myself when I lost it. Leave it alone, play at another casino or build a farm on Facebook...lol...just wait and start new :D PS....when you get your winnings reward yourself with a hot fudge sundae with pecans. :p
     
    1 person likes this.
  6. Apr 22, 2012
  7. ChopleyIOM

    ChopleyIOM Hearthstone Addict webby

    Occupation:
    Kobold Geomancer
    Location:
    UK
    IMO the 'reversible withdrawal' is one of the single most pernicious tools that the online casino business has in its armoury, and it deploys it with brutal force.

    I have the utmost respect for casinos that process withdrawals as fast as they're able, kudos in particular goes to Jackpot Party (UK only I'm afraid) and 3Dice, who will often have a withdrawal out of your account in less than an hour. (Both still have a reverse functionality though, which I don't agree with.)

    In fairness to Jackpot Party I have been playing over this weekend and seen a couple of players say in live chat that they'd had a decent win and didn't want the option to cancel their withdrawal available to them, and Live Support has been flushing those withdrawals for them.

    As the OP correctly identifies, the 'gambling psyche' is well appreciated and understood by casinos, which is why the reverse withdrawal functionality exists in the first place.

    It's all very well saying 'Oh well just exercise some self control' but it's not always that easy for some folks.

    As a one-time addicted and compulsive gambler - (long time since I've been that way, but I still remember what it was like) - I know the psychological importance of making the decision to draw a line under a session and walk away, to take the money and run, even if taking the money and running means a loss, you're still getting out of there with something.

    The reverse withdrawal option deliberately preys on that element of a gambling psychology, the desire to go back and win more, or the desire to go back and try to reduce losses.

    All online casinos should have a default policy of 'No Reverse Withdrawals' - if the player wants to reverse a withdrawal he has to open a Live Chat session and request it, that simple extra step alone would prevent a lot of reversals IMO.
     
    3 people like this.
  8. Apr 22, 2012
  9. secret2

    secret2 irishbrit62 MM

    Occupation:
    driver
    Location:
    New York, United States
     
  10. Apr 22, 2012
  11. weesie

    weesie Ueber Meister

    Occupation:
    retired
    Location:
    Old bag lady with a laptop
    Getting RTG casinos to flush??? Ha! Seems we can't even get them to approve withdrawals in a timely manner, let alone "flush" a withdrawal!

    Last week, after waiting just over 2 weeks (withdrawal to door) for a check from Club World, They sent me a "we miss you" bonus. I played it and cashed out, requesting a "paymycard" withdrawal. Now, THAT withdrawal has been sitting in the cashier, "pending" for a total of 4 days. BECAUSE, they don't work on weekends.

    I even e-mailed the cashier and asked them to please approve my withdrawal before Friday afternoon so it won't be sitting in the cashier all weekend. There it sits.......... in the cashier! (No reply from them either)

    The only thing we can do, as players, is take our money elsewhere. Sad part is, here in the States.......... there are not many "elsewheres" we can play.

    Good luck!
     
    1 person likes this.
  12. Apr 22, 2012
  13. Reefer

    Reefer Experienced Member

    Occupation:
    painter
    Location:
    uk
    reverse withdrawl fresh deposit whats the difference
     
  14. Apr 22, 2012
  15. ChopleyIOM

    ChopleyIOM Hearthstone Addict webby

    Occupation:
    Kobold Geomancer
    Location:
    UK
    It's a psychological difference, making a withdrawal, the act of cashing out, signifies the end of a session - it's the player making a choice to draw a line under whatever the results are for that session, even if only until the next day.

    The reverse withdrawal option sits there as 'unfinished business', it's goading the player to return, either to try and increase the profit made, or go back and try to reduce losses. (Or even on an 'evens' session, the mental thought process is 'Oh well I didn't lose, I could reverse that and then win'.)

    Also, a reversible withdrawal doesn't 'feel' like a win, because you know full well the casino's just sitting on it and hasn't made any attempt whatsoever to process it yet, which again, kicks in the gamblers' mentality that it's not real money, it's not a real win.

    I said this in Jackpot Party's Live Chat the other night and I'll repeat it here again, any casino that refuses a request from a player to flush a withdrawal is inherently shady and should not be trusted.

    (And I will stress that Jackpot Party DID flush those players' withdrawals on request.)

    We all understand that the casinos have the house edge, that's fine, but it also means that they don't need to cheat or resort to underhand tactics to win in the long run. A player asking to have his withdrawal flushed is an entirely reasonable request IMO, and I would not trust any casino that refused such a request.

    All that said, I still think the standard should be 'no reverse option' and to do so requires a player to initiate it through Live Chat/Support.
     
    1 person likes this.
  16. Apr 22, 2012
  17. sattty

    sattty Senior Member

    Occupation:
    im disabled so cant work now..but used to be in th
    Location:
    wakefield
    ive done several times myself..won some lost some..

    its one of the reasons i only play at places that processes cashouts within a few hours now..
     
  18. Apr 22, 2012
  19. Reefer

    Reefer Experienced Member

    Occupation:
    painter
    Location:
    uk
    exactly it is psychological being the trait of a gambler today tomorow 35 mins later you will risk the money back
    and lose
    or win maybe :)
    sorry im drunk
    but anyway
    it probably costs to process transactions so reverse withdrawl probaly saves money for the casino in that respect 'lol'
     
  20. Apr 22, 2012
  21. ksb11

    ksb11 Senior Member

    Occupation:
    Personal Trainer
    Location:
    Wait'n for a payout!
    This is an interesting thing to say and it sounds like a logically easy thing to agree with. If you were to create an argument using this logic it might go like this.

    1) any casino that refuses a request from a player to flush a withdrawal is inherently shady and should not be trusted.
    2) RTG casino's don't flush
    3) Therefore, all RTG casino's are inherently shady.

    Obviously we would have to prove that 1) just because a casino doesn't flush they are inherently shady is true in order for the conclusion of the argument, 3) Therefore, all RTG's are shady, to be true.

    If the conclusion (3 above ) could be proven to be true, however, you could argue that I am a fool because I would then deposit intentionally at shady casinos! Lol!
     
    1 person likes this.
  22. Apr 23, 2012
  23. weesie

    weesie Ueber Meister

    Occupation:
    retired
    Location:
    Old bag lady with a laptop
    I don't think they are shady, just cheap! They don't want to have to pay employees for weekend hours.

    In ClubWorlds' case, with them having so many casinos, they probably have a lot of withdrawals. All the more reason to have cashier people working weekends. No, the banks are not open, but, they could at least approve withdrawals and get them out of "pending" status. This way they are ready for processing first thing Monday morning.

    As far as, reversal versus new deposit, some cashouts may have been won on a bonus...... with a max cash out. Why would you reverse such a withdrawal? No point to it. Make a new deposit.

    The best way to make these casinos understand that we do not like their banking processes is to let your money talk.......... play somewhere else until your withdrawal is received!

    If I have a withdrawal pending, I will play somewhere else. If I don't, I have a tendency deposit several times over the weekend. To me, it is their loss. If they would have paid quicker, I would have deposited more.
     
    1 person likes this.
  24. Apr 23, 2012
  25. Realitybitez

    Realitybitez Experienced Member

    Occupation:
    Cati Interviewer
    Location:
    New Zealand
    Yup. Its psychological. When I know the money is still sitting in there, the temptation to reverse the withdrawal is just too hard:oops: I seriously never had the will power before:eek2:

    Solution, I have about 20 casinos sitting on my pc now. When I do a cash out , I just softlock that casino then jump onto one of my other ones:D:cool:
     
  26. Apr 23, 2012
  27. Volatile

    Volatile Full Member

    Occupation:
    Investor
    Location:
    Canada
    That is some impressive gambling.

    Don't have any experience with the intense credit swings.

    It is always wise to at least withdraw your initial deposit. So you're playing with "house money"
     
  28. Apr 25, 2012
  29. secret2

    secret2 irishbrit62 MM

    Occupation:
    driver
    Location:
    New York, United States
    What is 'soft lock' and how do you do it?
     

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