Should casinos pay interest for delaying payments?

[Wait!What?]

When a player requests a withdrawal some casinos pay instantly, some within a few hours or days. But some casinos have a habit of stalling payments by declining them by various reasons. Theses cases generally end up to the casinos ADR or various online gambling forums.
In most cases these payouts are processed and players do get their money. In a lot of cases players tend to lose hope and purposefully lose money by doing big bets. In both the cases its a win for casino and player is at loss on both occasions. In the second case its obvious but in the first case the player has their money stuck and casinos can delay payments to weeks and months. Dont you think in cases like these casinos should pay interest to players as their money is sitting idle. Instead of the player using the money for personal use or more gambling activities where there is a 50% chance the player could get more profit. If casinos were made to pay interest for stalling payments their might be less cases if this sort. I am myself dealing with a similar issue where my cashout of amount close to £1800 is being stalled for more than a week. It would be wonderful if I would get a 10% interest if this payment is stalled for more than 14 days.

 

[Jono777]

More chance of 96%'ers coming back, with bonus buys for UK, deposit matches, no deposit free spins than this happening I'm afraid.

Nice idea though!

 

[bamberfishcake]

It would be great if you could turn the tide and encourage casinos to pay on time with compensation, but I guess it is up to the regulators to ensure players are treated fairly.

I always wanted to develop an app called The Personal Call Centre (gotta work on the name) but it would act as an extension of your phone with call forwarding functionality. It would be customisable to suit and mine would go something like:

Press 1 if you are a friend or family.
Press 2 if you are an ex.
Press 3 if I owe you money.
Press 4 if you are from a known organisation.
Press 5 if we have never been introduced.

It needs work but I would love to turn the tables on the Utilities companies and the call centres I have to negotiate to get to speak to someone.

You could have extensions to the original menu, like:

Press 1 if you are from a gas company.
Press 2 if you are from a water company.
Press 3 if you are from a sewage company.
Press 4 if you are from a telecommunications company.
Press 5 if you are from an electric company.

And so on, the possibilities are endless.

 

[Wait!What?]

Talking about regulators is it possible for licensing authorities to create gambling IDs. For example a player gives their ID documents, bank statement, address proof to licensing authorities and they get a verified ID. Now this ID is used across all casinos licenced by the gambling authority and we get rid of verification at every casino.

 

[Jono777]

^^Delete, Delete, Delete!

Don't give them any ideas, that could really track everything then and ban you for a week if you lose £1 too much!

 

[Wait!What?]

@Jono777 Dont think they would ever do that. We already have gamban and similar websites that deal with that.
I would choose to share my personal info with two three authorities rather than 20 separate casinos.

 

[L&L-Jan]

When a player requests a withdrawal some casinos pay instantly, some within a few hours or days. But some casinos have a habit of stalling payments by declining them by various reasons. Theses cases generally end up to the casinos ADR or various online gambling forums.
In most cases these payouts are processed and players do get their money. In a lot of cases players tend to lose hope and purposefully lose money by doing big bets. In both the cases its a win for casino and player is at loss on both occasions. In the second case its obvious but in the first case the player has their money stuck and casinos can delay payments to weeks and months. Dont you think in cases like these casinos should pay interest to players as their money is sitting idle. Instead of the player using the money for personal use or more gambling activities where there is a 50% chance the player could get more profit. If casinos were made to pay interest for stalling payments their might be less cases if this sort. I am myself dealing with a similar issue where my cashout of amount close to £1800 is being stalled for more than a week. It would be wonderful if I would get a 10% interest if this payment is stalled for more than 14 days.

99% of the casinos have that covered in the T&Cs, did you read them?

 

[Wait!What?]

99% of the casinos have that covered in the T&Cs, did you read them?

Covered what? The interest part? Like how much interest they would pay or if they stall payments they have the right to delay payments for reasons which suits them.

 

[L&L-Jan]

Covered what? The interest part? Like how much interest they would pay or if they stall payments they have the right to delay payments for reasons which suits them.

no, but did you read them? Why avoiding to answer my initial question?

 

[Wait!What?]

no, but did you read them? Why avoiding to answer my initial question?

I read the bonus terms and conditions of every casino. If bonus is allowed with Skrill/Neteller, wager requirements, days bonus is valid, max cashout and bet, restricted games.
The whole terms and conditions part, that I dont.

 

[L&L-Jan]

Ok but most likely your answer, is in the part you didnt read.

 

[Wait!What?]

Ok but most likely your answer, is in the part you didnt read.

It would be really kind of you Oh sir! pretty please with sugar on top to clarify it here what exactly are you referring to.
I went to T&c of your casino did ctr+f and tried to look for %, interest and delay but did not find anything that answers my post. I hope you are not confusing delay and stalling as the same thing.
Delaying a payment like how one of your casino mentions is acceptable. But stalling a payment by the casino with intent to make a player get frustrated and lose their money and telling players that we have processed your withdrawal and you should wait but not processing that is not acceptable.

 

[L&L-Jan]

Account rules, 11:

No interest is paid over the balance of the casino Account, no matter the value of this balance and notwithstanding any legal duty to pay any such interest as required by any law in any jurisdiction. Yeticasino.com is not, and does not purport to be a financial institution.

 

[Wait!What?]

It also says that Yeti casino handles all payments in under 24 hours and does not 'hold' the money. I as a player understand how banks and other payment provider function. There is a huge difference between paying your player and the payment taking 2 days or 5 days or even a week and then the other case where the casino doesn't even carry out the transaction. I am talking about the latter part where casinos hold money. And that part is not mentioned in any casinos terms including the 99% you talked about.

 

[deleted20230517]

Can we gamble now and pay our deposit in a week later?

 

[Triple A]

Online casinos have gotten way too much power over players.

 

[Duestaingth]

Hi, I want to give my opinion on this. The withdrawal time varies. But at large providers and licensed online casinos - it is minimal. So always check what you deposited your money in