Is it right to saddle a no-bonus bet with a 5x playthrough?
Saddling no-bonus players with a 5x play-through before they can withdraw any winnings is just one of the terms and conditions at Cozygaming-operated online casino Spinsvilla that has come under fire this week.
The minimum withdrawal amount is £10.
The maximum withdrawal amount is £1500 per week and £3000 per month for all games. In the case of you winning a Slots Progressive Jackpot, you will be paid £10,000 each week.
Players who withdraw a sum of money that is 2 times or more greater than their lifetime deposits across the site will only be able to withdraw their winnings at a sum of £1000 per week.
Operator protestations that the 5x deposit rule is a mandatory anti-money laundering measure spurred players and dispute mediators to check around top regulators in the Isle of Man and Malta, and it appears there is no such requirement. A response from the UKGC is awaited.
Players on the Casinomeister forum pointed out that these sort of T&Cs discourage players from giving their business to such operators; they also pointed out that the operator already has a house edge built into RTP and business models and should have no need to resort to these sort of unreasonable rules.
And, as one observed, online casinos are required to return winnings to the same method of payment as was used for the deposit, in itself a deterrent for money laundering.
When InfoPowa went to press a response from Cozygames was still awaited.
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Online Casino News Courtesy of Infopowa