Casumo Receives Yet another Multi-Million Euro Fine for Regulatory Failures

[ddm]

The United Kingdom Gambling Commission (UKGC) has fined online casino firm Casumo £6 million for breaching anti-money laundering rules and failing to ensure that players were gambling responsibly.

In one instance, the firm allowed a player to lose £1.1million over three years without implementing responsible gambling measures.

The list of players who the operator failed to approach or contact included one who lost £65,000 in 30 days, one who lost £76,000 in seven months, another who lost £89,000 in a five-hour period, and a player who lost £59,000 in just 90 minutes.

source

 

[ddm]

i think it's fair to say that anyone promoting casumo products is putting at risk players at more risk - since they don't take their obligations seriously.

 

[AussieDave]

Are they actual deposited losses, or for example, the £59,000, lost from winnings. If one is betting £1K+ bets, it's pretty easy to have a bad run, and burn 59K in 90 min. Hell, I've burnt 30K in 90 min, betting $90 a spin. It's not hard. It's not unusual for a High Roller to have large losses (bad run), followed by huge wins.

1 person's gold-mine, is chump change to someone else. It's all relative, really.

While I strongly believe casinos should provide an easy and actual means by which a player can evoke a cool-off period, and or where a player can close and account, without jumping hoops, I also believe Adults are Adults, and should be treated as such.

Problem gamblers have certain traits... If a casino isn't watching for these, then they deserve to be fined.

However, If someone is crazy enough to blow all their money, then shame on them for not getting help.

This nanny BS, is just that, BS.

 

[ddm]

I wonder does the affiliate still get paid?

 

[ddm]

Are they actual deposited losses, or for example, the £59,000, lost from winnings. If one is betting £1K+ bets, it's pretty easy to have a bad run, and burn 59K in 90 min. Hell, I've burnt 30K in 90 min, betting $90 a spin. It's not hard. It's not unusual for a High Roller to have large losses (bad run), followed by huge wins.

full deets: https://beta.gamblingcommission.gov.uk/news/article/regulatory-action-against-casumo

 

[AussieDave]

Frankly, one of the largest mistakes the online casino industry ever made was, dropping their min deposit to $5, £ or €. It shouldn't have gone below $20, £ or €. Dropping it only allowed people who, probably shouldn't be gambling, to gamble.

 

[gm2891]

Frankly, one of the largest mistakes the online casino industry ever made was, dropping their min deposit to $5, £ or €. It shouldn't have gone below $20, £ or €. Dropping it only allowed people who, probably shouldn't be gambling, to gamble.

There are some with a 1$ min deposit out there ...lol

 

[Frank]

Thats 2 big fines in under 2 years? i wonder how long they will stick in the uk

 

[Biti]

They lowered the RTPs on some slots, f.e. some NetEnt Slots. Blood Suckers has a 94% RTP instead of 98% RTP.

 

[AussieDave]

They lowered the RTPs on some slots, f.e. some NetEnt Slots. Blood Suckers has a 94% RTP instead of 98% RTP.

So did VideoSlots.com... guess they couldn't get anymore from affiliates, so they turned to robbing players

 

[Biti]

So did VideoSlots.com... guess they couldn't get anymore from affiliates, so they turned to robbing players

Exactly. Leo Vegas did the same.

 

[danniee]

Casumo has always been shit for me as an affiliate. Only ever made a couple of hundreds here and there and players don't seem too interested in signing up. Totally useless.

When it comes to these fines, it's funny that a casino which at least has a license receives these ridiculous fines, but Curacao and Crypto casinos do whatever the hell they want and get away with it. As a casino owner I would be pissed and pull out of the UK just out of spite. It's degrading.

 

[Biti]

Casumo has always been shit for me as an affiliate. Only ever made a couple of hundreds here and there and players don't seem too interested in signing up. Totally useless.

When it comes to these fines, it's funny that a casino which at least has a license receives these ridiculous fines, but Curacao and Crypto casinos do whatever the hell they want and get away with it. As a casino owner I would be pissed and pull out of the UK just out of spite. It's degrading.

I'm having good experiences with Casumo. Good conversion, good retention and on-time payments. However, that was not UK traffic.

UK is getting over-regulated. Licensed casinos pay hefty taxes, have all kind of different rules and than get fined millions of pounds, because 3 players betted too much and complainted afterwards, while lots of players are gambling at illegal offshore brands that dont pay any taxes and dont comply to any of the UK rules.

 

[Jim Henson]

They lowered the RTPs on some slots, f.e. some NetEnt Slots. Blood Suckers has a 94% RTP instead of 98% RTP.

Sorry, but what does this mean exactly? How can we find out they actually lowered the RTPSs on some slots? I thought the RTPs is fixed and set by the respective provider?

 

[preditor]

Sorry, but what does this mean exactly? How can we find out they actually lowered the RTPSs on some slots? I thought the RTPs is fixed and set by the respective provider?

No, many casinogame providers let casinos them self adjust the RTP on some games.

For example, Unibet have (or had) theirs supercasino with 98% RTP on a bunch of Play'n GO games.

 

[AussieDave]

There are some with a 1$ min deposit out there ...lol

Yes, Casino Rewards comes to mind. Those Jackpot promos... Deposit $1 and get 20 spins (or something like that), for your chance to become our next Millionaire. I can't recall if it was Renee or Celia, but I said why are all my new players going MIA. The response... It's the $1 offers.

Hmmmm if they're so bad, why keep adding new, and additional casinos, to those offers

No, many casinogame providers let casinos them self adjust the RTP on some games.

Correct. However, the casino operator can request (ask) the slots provider, to alter the RTP This happens more than I think most affiliates and players know.

Depending on when you became a casino affiliate, or for that matter, started gambling online, will likely be reason to why one holds different view about adjustable slot RTP's.

EG - For years the Microgaming Shills all sang in unison that, the RTP on MGS slots, were set in stone. That may have been the case when Microgaming used slot-reel-images.

However, when they changed ALL their slots to dynamic reel (computer generated images), from that point, it seems, that a LOT of peculiar anomalies began to be reported by players, which accused MGS of changing the RTP on their slots. It was suggested that having dynamic-reels, meant, icon positions on each reel could be changed on the fly, thus lowering the RTP.

I'm fairly confident, that, like land based casinos, who can contact their respective gambling boards, and request a slot RTP change, online casino operators, can contact the slots provider and request an RTP change, too.

The days of support telling players they're have a bad run, when that run has lasted literally weeks on end, I think is a load of bollocks, now. And, instead, the above explains the real story!

 

[AussieDave]

Another myth, which I feel, needs clearing up, is the RTP itself. I see this a LOT on newbie sites, but I've also seen a handful of seasoned affiliates (who should know better), write the same misleading garbage.

EG - if a slot's RTP is reported to be 97%, this does not mean... that for every $100 played on that slot, the player will receive, a minimum of $97 back. What it means is... that slot will, over it's audited period, return a guaranteed minimum of 97% RTP (return to player).

Cold slot machines, can pay less than 33%, in some cases, I've seen far less. BUT when that same slot is in a hot-streak, then it will, well exceed, its 97% RTP.

 

[gm2891]

As far as I know, SOME providers offer different RTP settings per each jurisdiction such as Mata, UKGC, Curacao.

For example, Play,n GO for its Book of Dead has five RTP's that they offer to a casino operator.

If I remember correctly, the smallest Plyngo's RTP setting on Book of Dead is 84%. This in general would clear any players' balance in minutes.

I'm not sure if in the UK or Malta it's allowed, but in Curacao, it's a problem.

The dodgy part is when a casino shows, in the game help file, one percentage but the slot actually runs at a different one.

With Play'nGO slots it's possible to check their true RTP through the right-click "Inspect" option.

About other providers, I have no idea.

There was a serious discussion on Casinomeister, some time ago, that Coral and Gala was showing wrong RTP's to players, and that guy who started the thread was going to report them to the UKGC.

 

[gm2891]

I've been always wondering what they mean by that...lol

ItechLabs FAQ

 

[Madars Pahmurkins]

I just wonder reading this tread, is there some site or maybe I have missed here on forum such information what would be available for all players/affiliates and even game operators & game providers to actually and honestly show their RTPs for each game? If not maybe someone could come up with such information, believe it could be very beneficial. I am not sure it is possible knowing that some games are running different RTPs depending on licenses and all the other factors, but maybe something on those lines.