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Discussion in 'Online Casinos' started by ternur, Apr 9, 2018.

    Apr 30, 2018
  1. Captain Rizk

    Captain Rizk Accredited Casino Representative

    Occupation:
    Bullshit battling Superhero
    Location:
    Malta
    100% agree.

    Alternatively they go to a non licenced operator....
     
    aceking123 likes this.
  2. Apr 30, 2018
  3. aceking123

    aceking123 Ueber Meister CAG PABnononaccred MM

    Occupation:
    chippy
    Location:
    uk
    A side note I think it's great that captain is helping & giving us a insight into things which should be thanked ! Keep it up captain your doing a great job )
     
  4. May 8, 2018
  5. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Occupation:
    Homemaker
    Location:
    Bierland
    This thread is definitely a forum highlight of the year. Words fail me to express my extreme gratitude and appreciation for this event and this thread. Kudos for everyone involved.

    I've even renamed it three times :p
     
  6. May 8, 2018
  7. Harry_BKK

    Harry_BKK Senior Member CAG mm1

    Occupation:
    job is OK
    Location:
    Balcony
    I had 2 questions in the back of my mind and since the Meister bumped up the thread, I might just as well ask them now.

    Case 1: Player funds are confiscated and balance restored to deposit value because he/she broke some bonus wagering rule or other terms.

    - What happens to those funds?
    - How are they booked in the casino accounting? After all, these were valid transactions with game servers that normally produce revenue for the provider and casino
    - Is this reflected in the monthly / yearly RTP figures a casino publishes?
    - Are all bets that were made to reach that balance voided with all game providers? And with that the total turnover for the casino with the game providers?

    I am not suggesting (hoping) that the casino keeps the confiscated dosh!

    Case 2: Player takes a bonus and the withdrawal is capped at lets say 4x bonus amount (aka the Nektan BS rule). The player reaches a balance of $1K at the end of the WR but only $100 is converted to real cash. The rest of the balance disappears.

    - What happens to those funds?
    - How are they booked in the casino accounting? After all, these were valid transactions with game servers that normally produce revenue for the provider and casino
    - Is this reflected in the monthly / yearly RTP figures a casino publishes?
    - Are the game transactions voided except those worth the $100 converted to cash?
    - How do game providers handle this case? After all it has an influence on the overall RTP of their games.

    In this case I have to admit that I have a suspicion that the casino keeps the funds.
     
    Last edited: May 8, 2018
    ternur likes this.
  8. May 8, 2018
  9. ternur

    ternur A damn fine cup of coffee CAG webby mm3

    Occupation:
    Lawyer
    Location:
    Finland
    As someone who was lucky enough to experience this, I can sincerely concur with this statement. The opportunity on personal level was so exciting to me that I'm seriously contemplating possibilities to work in the industry.

    Grazzi! :thumbsup:
     
    Harry_BKK and Tirilej like this.
  10. May 9, 2018
  11. hoff1985

    hoff1985 Meister Member mm1

    Occupation:
    IT Stuff :)
    Location:
    Switzerland
    I just read through the whole very interesting thread. I can only say from my point of view, and as some of you know i used to play in hundreds of casinos in my old days, Rizk is definitely one of the best casinos out there. The game selection could be a bit bigger, automatic withdrawals could be implemented, but that's high level critic. I was always treated excellent and i was trading quite a few e-mails with the Captain over the years... If there would one Casino i would invest in, or one Casinos i trust more than all the others, it would be Rizk. If i get ever asked these days by someone which casino they should join if they want to gamble, i always say first: "Don't do it" and then i'll say, ok if you really want to, go to Rizk :)

    A solid business run by professionals. As long as they don't change the Captain this ship will sail on just fine!
     
  12. May 31, 2018
  13. Cody7

    Cody7 Active Member

    Occupation:
    Fisherman
    Location:
    Deep Sea
    Some insight to as if rizk will be accepting australians in the near future,
    I know most of it comes back to our bad government having a tantrum cause they cant tax it and the australian audience is large.
    Cheers.
     
  14. May 31, 2018
  15. Captain Rizk

    Captain Rizk Accredited Casino Representative

    Occupation:
    Bullshit battling Superhero
    Location:
    Malta
    Hey Cody - there is no plans to accept Australian players in the future. It would need a pretty significant change in legislation to allow us to do so.
     
  16. May 31, 2018
  17. Captain Rizk

    Captain Rizk Accredited Casino Representative

    Occupation:
    Bullshit battling Superhero
    Location:
    Malta
    Hey Harry, interesting questions. Hopefully this explains it:

    Case 1: There is no real money to confiscate here. The funds are only "real" when it comes to withdrawing. There are of course still transactions that cannot just be removed and so they have to be offset from the system and this is generally done as an reversal accounting transaction. We are still billed by the providers on the theoretical revenue that was generated by those transactions and because we cant reverse/remove those transactions then we still take the hit and have to pay the providers.

    Case 2: I cannot say for sure on this one - as you know we do not cap withdrawals of any kind. However I would assume that they follow the above methodolgy for those additional funds.

    In terms of RTP, this is irrelevant because the game still pays out according to the math model and RTP calculations whether those funds were reversed or paid out so it has no bearing and as above the game transactions cannot be voided (I imagine that this wouldnt sit very well with auditors and/or regulators if it was possible). The same goes for the game providers.

    Hope this helps, if i have misunderstood anything then let me know.
     
    Mouche12, Tirilej, ternur and 2 others like this.
  18. Jun 6, 2018
  19. nutnut

    nutnut Senior Member

    Occupation:
    IP consultant
    Location:
    england
    Amazed this has not been asked before and no one knows the bloody answer. This same shower of shite Nektan took over 3k off me and paid me £100 because of the cap. So who keeps this money?
     
  20. Jun 6, 2018
  21. pinnit2014

    pinnit2014 Senior Member MM PABinit

    Occupation:
    Work with figures, other audit-y things
    Location:
    Glasgow
    Think Captains explained it-the three grand in your case doesn’t exist in terms of tangible cash. It’s just an accounting adjustment that would be done to reflect the 3k to 100 quid.
    Would be different if you won 3k and it went from the software company to the casino who then pocketed the 2900.
     
    Captain Rizk likes this.
  22. Jun 6, 2018
  23. adamtheaddict

    adamtheaddict Senior Member

    Occupation:
    fruits
    Location:
    Kent
    I know a fair few sites dont allow wagering on jackpot games, but from what i understand, jackpot slots take a % of bet amounts from each of all its players and adds it to the progressive jackpots accordingly. So obviously players are funding the jackpots beyond its initial reset amount with cash deposits, and therefore paying for a crappier base game RTP experience due to contributing their own funds to which builds up random jackpot(s).
    Would these funds, after resetting the particular jackpot once it was won, then get put back into the jackpot amount if the player later has his/her winnings confiscated due to breaking terms, or if the player later have their winnings capped by a max conversion limit?
     
  24. Jun 8, 2018
  25. Captain Rizk

    Captain Rizk Accredited Casino Representative

    Occupation:
    Bullshit battling Superhero
    Location:
    Malta
    Good question!

    The reason that a lot of casino's dont allowing wagering on JP games with bonus money is because, as you say, a % (normally around 5%) goes to the game provider, this is irrelevant of whether it is bonus money or not. Therefore even if you are playing with bonus money on a JP game then we still have to pay the provider in REAL money at the end of every month when the reconciliation is done.

    Therefore it follows that if winnings are confiscated, this is irrelevant becasue the jackpot game still gets the % contribution that was paid and therefore in effect becomes a physical cost to the casino.
     
    Mouche12, adamtheaddict and ternur like this.
  26. Jun 8, 2018
  27. adamtheaddict

    adamtheaddict Senior Member

    Occupation:
    fruits
    Location:
    Kent
    Thank you for the info sir. :)
     
  28. Jun 15, 2018
  29. cateringfetch

    cateringfetch Spammer

    Occupation:
    Sales manager
    Location:
    London
    How do you think:
    Is Malta trustful country for casino business?
    I know there a lot of companies which try to hide money from different country's, by of shores company's
    From another side - in Malta is friendly laws for gamble(if I'm right)
    Can you tell me - Is it safety to play in casinos from Malta?
    Anyway I was there few years ago - it's really "warm" place
     
  30. Jun 28, 2018
  31. TheAverageGuy

    TheAverageGuy Newbie member

    Occupation:
    Consulting/Management-Recruiting/Training
    Location:
    canada
    This has been one of the most fascinating, enlightening threads I've read through in quite some time on any subject.. While I already held Rizk in pretty high regard this has certainly affirmed and secured that opinion.

    I laughed, I cried.. it was better than CATS.

    Thank you for almost completely destroying my preconceived notions of how things work.. it was a struggle to cling tight to the delusion.

    Seriously though, as someone who has spent the better part of 20 years running sales and fundraising offices for civic groups across the country and occasionally out of it, I've more than once imagined that the skillset could probably be converted to find myself living and working somewhere less.. arctic-adjacent..

    ...of course the vision has the office more old-school boiler room meets new-age tech, everything is soaked in a general culture of cutting edge awesomeness that keeps the soul young, the mind inspired and the beer cold.

    Then you peer behind the curtain and it all seems so... like work..
    the Cap'n is faster than a speeding..deadline..?
    He's fighting everyday to free the office from the scourge of...mind numbing paperwork...
    Always on the lookout for his mortal enemy... stress migranes..??

    NOPE!

    Sorry, I refuse to accept this. It leaves only one other explanation,

    That handsome, roguish fella taking pics of himself in superhero garb, living the life, selling the dream, is ABSOLUTELY the reality,
    it just so happens that his alter-ego is also a brilliant manager who delegates compliance & regulation issues with ease!

    Endless small details and mountains of paperwork are no match for his heightened sense of..
    'uh.. isn't that what we hired Karen for??'

    His mortal enemy, "inquiring minds" arrives on scene..
    it looks perilous...
    Wait!
    Just in the nick of time his trusty sidekick arrives from the fabled land of "No sleep AGAIN!..but here's your damn talking points"

    Then in a blur he is gone, to enjoy a well deserved shark ride..
    No Bullshit!

    My Hero!
     
    Last edited: Jun 28, 2018
    ternur and Mouche12 like this.

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