Struggling to earn - maybe why

[gobo]

Miles, could you please explain the cashback the players are receiving. What happens if a player only does one bet for €10 at a Netent slot game? Exactly how much cashback will he/she receive after that one bet of €10? €2.5?

 

[KasinoKing]

Miles, could you please explain the cashback the players are receiving. What happens if a player only does one bet for €10 at a Netent slot game? Exactly how much cashback will he/she receive after that one bet of €10? €2.5?

Allow me to answer that:
No - that would be ludicrous! The casino would go bust in no time.

You get 25% of the HOUSE EDGE back - so it depends on the RTP of the slot: If it were a 96% one, the HE = 4% and you get 25% of that = 1% of your bet. So 10c in your example.
However, I think AssuieDave pointed out there are also "admin fees" which come off the cash-back - but I'm not 100% sure about that...

KK

 

[AussieDave]

Exactly how much cashback will he/she receive after that one bet of €10? €2.5?

I bet $10 a spin, and can go thru literally $10's of thousands in wagering. That cashback figure is around €0.10.

The way it's advertised makes it sound fantastic, but when you crunch the numbers, €0.10 back from a €10 bet, aint that special. The point is, if you can get a good session, then you make some ok free cash.

rant
Thing is though, for High Roller like myself, the daily cashback is maxed to $300. So as a HR when you get a decent run, your still treated like a low-roller.
/rant

Credit where credit is due, VS payout like a casino should, 24/7, 365. My withdrawals average being paid in under 30 min.

AssuieDave pointed out there are also "admin fees" which come off the cash-back

videoslots.com/casino-cashback/

• Cashback is calculated on theoretical RTP minus operating costs

Hang on a minute, affiliates are also hammered for operating costs, are they not???

 

[Miles_Videoslots]

Thanks KK and Aussie Dave you guys are smart , honest and upfront and that's what I like to see in affiliates ..between you , you have it almost spot on but there is a minor adjustment and please understand this is new to me also so I had to get it from our Game guys to better understand it .

As per our T & C for Cash Back https://www.videoslots.com/casino-cashback/ .

Cashback is calculated on theoretical RTP minus operating costs.

Theoretical RTP Details Vary from Game to game and more information on this can be found here : https://www.videoslots.com/payout-ratios/

So as an example if a game has an RTP of 98% the House Edge is 2% we then deduct our operating costs from this and give the player back 25% of that figure.

 

[BetOnlineUK]

Hi Miles,
This would be extremely confusing for a player as i would read it as 25% of my losses. I know in the terms it says weekly profits but for me if I lost £10 I would expect to get £2.50 cashback and not 25% of 2% minus costs. I see you do mention the rtp and costs but it could be clearer, maybe an example although it would not appear as attractive as the title says.

 

[Miles_Videoslots]

I agree with your statement but this has been there for a long time and players that are unclear of this are always free to chat to our Customer service who then can give a detailed explanation of how its calculated. For a player that has no knowledge of how casinos operate 100% can be confusing but for players that have been with us a while and are receiving cash back on a weekly basis the understanding of this becomes clearer over time. I will pass on your suggestions to those concerned and thanks for that.

 

[BetOnlineUK]

That is great for someone who is loyal and understands, but I presume this promise of 25% cashback is a big part of attracting new customers and certainly would catch my attention if I was looking for a new casino to play at. I would just like it to be a bit clearer. Speedy response as always Miles. Appreciated

 

[Miles_Videoslots]

I agree 100% and have passed on your comments..

 

[gobo]

As per our T & C for Cash Back LINK

Cashback is calculated on theoretical RTP minus operating costs.

Theoretical RTP Details Vary from Game to game and more information on this can be found here : LINK

So as an example if a game has an RTP of 98% the House Edge is 2% we then deduct our operating costs from this and give the player back 25% of that figure.

Ok, so let's take Starbust as an example. The RTP is 98%. How much cashback does a €10 spin generate? How do you calculate the operating cost?

 

[AussieDave]

Ok, so let's take Starbust as an example. The RTP is 98%. How much cashback does a €10 spin generate?

It's around €0.05

 

[AussieDave]

we then deduct our operating costs

So players are having "operational costs" deducted from ALL their slots play. [but what are these costs (value please?)]

And because players get hit with "operational costs", then why are affiliates also being hit with "operational costs"?

 

[inspiration]

I do not understand this bonus mystery has to do with operational costs ?

Profits are like any shop : payments received (turnover) - withdrawals - operational costs (game fees, depreciation, personnel costs etc)

 

[AussieDave]

I do not understand this bonus mystery has to do with operational costs ?

As far as the "bonus mystery"...VS et al have yet to provide an itemised and monitory amount of each operational deduction. I'm sure you can join the rest of the dots...

Profits are like any shop : payments received (turnover) - withdrawals - operational costs (game fees, depreciation, personnel costs etc)

That's true BUT... If I'm a 25% partner in a business, then I receive 25% share of profit. Subsquently, I'm only responsible for 25% of costs (not 100% of them).

 

[slotplayer]

by definition, to calculate "weekly profits" ones needs to first deduct operational costs.

Profit: The surplus remaining after total costs are deducted from total revenue.

 

[Miles_Videoslots]

Thanks Dave for your input and honesty its refreshing as always as I previously stated we are only deducting operating fees once ; it is not being deducted twice and I have confirmed that.

Regarding the operating fee amounts, unfortunately this is something confidential. Reason being that since the promotion is unique to videoslots we cannot give out what makes us so special

 

[AussieDave]

Regarding the operating fee amounts, unfortunately this is something confidential.

Miles, I wasn't referring to the "operational costs" connected to the cashback.

What I meant was, no one from VS et al, have ever itemised each and every deduction, including, the actual monetary amount for each item, which affiliates wear. As you'd know, this goes hand-in-hand with a program being 100% transparent.

Putting my own 2 cents in... No one can blame affiliate partners for wanting to know exactly what these costs/fees are, and the associated $, £, € value for each cost/fee.

Operational costs could include air-fares, car hire, the list goes on and on... As it stands now, VS affiliate partners are clueless to what ALL these fees are and how much is being deducted???!!!

 

[gobo]

Thanks Dave for your input and honesty its refreshing as always as I previously stated we are only deducting operating fees once ; it is not being deducted twice and I have confirmed that.

Regarding the operating fee amounts, unfortunately this is something confidential. Reason being that since the promotion is unique to videoslots we cannot give out what makes us so special

I guess it is quite easy to find out from the equation myself by finding X in (Theoretical RTP - X)*0,25 = Cashback.

Miles, I wasn't referring to the "operational costs" connected to the cashback.

What I meant was, no one from VS et al, have ever itemised each and every deduction, including, the actual monetary amount for each item, which affiliates wear. As you'd know, this goes hand-in-hand with a program being 100% transparent.

Putting my own 2 cents in... No one can blame affiliate partners for wanting to know exactly what these costs/fees are, and the associated $, £, € value for each cost/fee.

It was me who asked about the operational cost for the cashback. But I agree with you, we just want to know exactly how our share is calculated.

 

[inspiration]

VideoSlots needs to deliver a better system, a better process, a more affiliate-friendly culture if it is to succeed - once I see THAT happen then I may choose to hop onboard - but NOT BEFORE.

There is nothing to gain for affiliates with a program that offers no transparency about deposits and fees so we can check the results.

If the casino is good for players then why do affiliates not see the same.

Until I hear more positive news this program is a no no.

 

[Miles_Videoslots]

I agree 100% on the transparency issue and also have made it clear that we are trying to get to a point where we show affiliates at least some of this information or enough to make you feel more comfortable with the program than you do now.

Its getting looked at I assure you.

We are not taking away anything from affiliates that is outside of the normal or industry recognized fees. Our game license fee, casino bonuses, operational costs, jackpot fees, regulator taxes, bank fees and chargebacks.

 

[casinonewbie]

what makes us so special

Let's cut to the chase, had enough of all the rhetoric BS & banter - It's what makes the owners bank account "so special" not affiliates bank accounts.......