Casino Cashout Levels

[Guard Dog]

ISSUE:
Online Casinos will typically let players deposit any amount of money into the casino. A player could deposit $100 or $10,000 with no issues. When that player WINS, though, they are restricted on the amount of money they can withdrawal. Cashout limits range from $750 / week to unlimited. A very typical weekly cashout is $2500-$3000 / week.

Where does this leave affiliates?
The problem I see (and others see as well) is that it can become very difficult to land and keep a high roller with such paltry cashout levels. A good high roller would never accept this. Which means that high rollers will go elsewhere and not be 'retained'.

Where does this leave players?
A player who wins a decent amount and has to wait weeks, months, or years, to realize that winning will be very frustrated with this payout schedule. Maybe they will play back some of that money, maybe they will move on to a casino that doesn't have such petty cashouts.

What happens now?
I have said this before.... when Vegas casinos come online, any casino with a cashout level can kiss their players goodbye. Who would accept that when Vegas would pay you all your winnings in near-immediate fashion? Answer - not many (IMO)


A poll is attached, but it is really tough to create something that captures the mindset here. Feel free to take part in the poll or, better yet, let's discusss.

[lots0]

...when Vegas casinos come online, any casino with a cashout level can kiss their players goodbye. Who would accept that when Vegas would pay you all your winnings in near-immediate fashion? Answer - not many (IMO)

Ya these online guys need to realize that they are soon going to be competing head to head, in the US, with land based outfits that have moved online and who will have a lot of resources to provide players, including virtually instant deposits and withdrawals with no limits, just like the land based casinos offer players now.

Low cash out limits scream that the casino does NOT have the cash reserves to pay a big winner...

If you don't have the money to cashout the player on the spot, don't take the bet in the first place.

[AussieDave]

Hi All,

Top thread lots0

The way I see it and always have...if online casinos want to set up shop and call themselves a "CASINO" and in doing so accept unlimited deposits from players, then it goes without question there should be none of the BS associated to max withdrawal limits.

If a casino can not pay its players their full amount of winning in one payment, then do the following:

• Limit players deposits per week.
• Don't accept bets you can not cover (by full payment if won).
• Don't open an online casino, simple.

It gets to a point where it is comical, that most online casinos imply they are just like Vegas or other world class B&M casinos. However only a small majority operate in such parallels with land based counterparts.

I suppose when the US opens up to online casinos based on their shores; not if but when, casinos that enforce these ridiculous max cash out rules will be dropping like flies.

Edit: And industry folk shake their heads is dismay as to why most Governments are focused on exterminate/banning online casinos from their Countries.

Cheers



Dave

[Simmo!]

As a player myself, its one of the first things I check. If there are restrictions, I would rarely play there for my own entertainment unless there was something amazing like regular slot tournies or something. Plus, max cashouts immediately says to me that the operation is underfunded.

If a casino hasn't got the funds to pay players when they win, immediately, then they shouldn't be in the game IMO. After all, the really big wins are generally network progressives which funds come from the operator. It must be rare for a player to win 100k without a progressive and if that's still a problem, then set bet limits you can afford to pay out on rather than restrict limits.

However, all that said, I can perfectly understand why restrictions are necessary for players who haven't yet been ID'ed and on bonus play, but once they have verified you and chosen to let you play on then drop the restriction.

As an affiliate, I will always tell the player what the max. cashout limit is if it exists. I'd rather they find out while they are still on my website and able to make a choice rather than find ths out down the line after I lost the chance to convert them.

[Pinababy69]

As a player myself, its one of the first things I check. If there are restrictions, I would rarely play there for my own entertainment unless there was something amazing like regular slot tournies or something. Plus, max cashouts immediately says to me that the operation is underfunded.

Ditto here Simmo. Over the last few years, I have now limited my play to 3 casinos....32Red, Inetbet and 3Dice. I know that if I ever did get lucky and managed to win 20K or more....within 48 hrs MAX, I am going to have the FULL amount in my bank account, MB account, whatever. No way in hell am I waiting any longer than that for MY money. And if all players would adopt that mindset, then the clipjoints with these low max cashouts, would have to either pull up their socks and compete, or get out of the business.

Max cashouts are a joke...as are casinos that don't process cashouts seven days a week. It's a 24/7 business, and as such, all aspects of that business should be operational at all times..including a cashier, promo dept., managerial staff, etc.

[Guard Dog]

Excellent posts. Max cashouts ARE a joke, IMO. They are geared only towards forcing players to play back their winnings. What these places do not understand is that they are limiting the amount of quality players by instating such limits. Good players would rather withdrawal winnings and then play it back... not just playthrough... what is the fun in that? There is not even a 'sense' of winning that way.

It just keeps good players out and kills retention.

[jimmiet]

The country that you live in ie: USSA (no misprint) has restrictions on how much money you can transact. If you have the good sense to have an offshore account then there should be no restrictions but if you bring your cash into the grasp of the Obamanation, you better play by their rules and prepare to give most of it up. :>)

As far as the casino goes they calculate how much % they are going to give away so when you win it....let it go. I don't understand these complaints and how these casinos work. I'm sure they are in the green or they wouldn't be doing this in the first place. If a player wins on a slot machine there obviosly is no fraud so pay up and be done with it.

[Guard Dog]

I do not believe the US has restrictions on max. What they do have is an automatic system which flags wires greater than $5k (I believe that is the trigger point), though, and will investigate where that money came from.

Even with this - many players running against these max cashout limits are not even from the US. Plus, many are using eWallets which also do not have restrictions. So - no reason to limit.... just pay up.

[AussieDave]

Top thread lots0

I don't know where my heads at sometimes.
Too much work starts to erode brain function. Either that or old man disease...lol

I should have said... Top Thread Guard Dog

I only play at 32Red now and have been doing so for the last 12 months. After gambling online since 97 they are the first online casino who have paid me with a Bank Wire that arrived in my Australian bank account in 14 hours.

That's from the time it was sent from the casino (Monday 1pm). Which btw I cashed out on the Sunday. Things don't get much better than this!

many are using eWallets which also do not have restrictions. So - no reason to limit.... just pay up.

32Red pays me to Neteller in less than 24 hours. Not small figures either. Some are as high as $18K. IMHO if they can do this so can other casinos. If a casino has to set withdrawal limits & or delay the processing of payments longer than 48hours - unless awaiting ID docs, they shouldn't be running a casino, period!


Cheers



Dave

[Vladi]

The big problem is that it is far too easy to set up an online casino. The barriers to entry are too low. The reason these crap TopGame, Rivals, RTGs etc have sprung up recently with low cashout restrictions is because they are being run by 2 or 3 people. They have little or no gaming experience and they could be anywhere in the world. The startup and ongoing costs are relatively low and there are heaps of fools/crooks who think running a casino is a paved yellow-brick road to the pot of gold at the end of a rainbow.

In reality its the difference between playing at The Wynn vs some mom & pop convenience store. Trouble is, every one of these 2-penny online casinos misrepresents themselves as The Wynn.

Now in most other industries such levelling of the playing field via the internet is great for all of us, but the online gambling industry is one of the very rare exceptions to the rule. U.S. regulation cannot come soon enough. Hopefully it will be the catalyst to send these places to the bin where they belong.