Fees on Dormant Accounts on Crypto Gambling Platforms

[Rruchi man]

For the sake of discussion, let's set aside the fact that one shouldn't leave money in gambling account wallets. Do you think this policy is fair?

It may just be another strategy to ensure that people do not leave their gambling account dormant. it is a policy that favours them so it doesn't have to be fair to you. Thinking about this I think that maybe it is indicated somewhere in the terms and conditions of the gambling platform before you signed up. I also think that the duration however where your account becomes dormant is a short while, It must really take sometime.

[robelneo]

Are you familiar with this? Or has anybody here been actually charged for having his/her crypto gambling account inactive for several months?

I have not experienced this and checking other member posts there is no casino that is implementing this as of now, but this is a bad idea if a casino adopts this concept

The monthly charge could be as high as 15% of the remaining balance. Or, worse, the entire balance could be withheld by the platform itself. Although it could be for security's sake and be returned upon request, who knows what conditions or perhaps KYC information they would require just to have your money back? 

This is stealing if they don't have this on their terms, but if they return the balance upon request I don't see this as a big concern, but it's better that they don't touch it.

For the sake of discussion, let's set aside the fact that one shouldn't leave money in gambling account wallets. Do you think this policy is fair?

Its not fair and gamblers will not support this feature or concept

This is similar to a bank policy that requires accounts to have transactions every now and then or be active or else dormancy fees could be charged..

The dormancy fee is not applicable to casinos its ok with banks but never on casinos, banks thrive on service fee, casinos on players playing on their platform.

[Fivestar4everMVP]

 Do you think this policy is fair?

This to me is really unfair but it understandable cus question should be why leave your money on a casino if you are not going to be gambling with it?
Cus this is because ive tried to think of a reason why anybody would do that but just cant come up with any reasonable reason.
I have account on just two casinos, though ive never left my money any of the accounts, i always withdraw if there is any reasonable amount left on my account after gambling, or most times, i just gamble until until its all gone, i have never heard anybody complain about leaving their money on the casino and it got deducted.

My conclusion on this discussion is that --
1- If a gambler has so much money and decides to leave some on the casino where he gambles, it is fair for the casino to give to gambler a year or more before deciding if the account is dormant, then, they can look for a way to reach to the gambler before deciding on what to do with the funds in the gamblers account.

[Hispo]

I have heard about these kind of policies in some service providers, I assumed it would also happen in the crypto space.

In my opinion is not completely fair, but it also depends on the kind of service one is using. I assume casinos would do this because they want to keep a high activity and avoid turning into a hot wallet for some of their users, they want people moving their money so they can profit, naturally holding funds deposited by the players require an investment in security and won't make their money back unless people gamble, but there are better options to encourage people to stick around than this.

If they really did not want to deal with inactive accounts, they could delete the accounts and ask for a trusted Bitcoin address (during registration) to withdraw the remaining satoshis the person left behind.



 

[CryptoHeadlineNews]

Are you familiar with this? Or has anybody here been actually charged for having his/her crypto gambling account inactive for several months?

The monthly charge could be as high as 15% of the remaining balance. Or, worse, the entire balance could be withheld by the platform itself. Although it could be for security's sake and be returned upon request, who knows what conditions or perhaps KYC information they would require just to have your money back? 

For the sake of discussion, let's set aside the fact that one shouldn't leave money in gambling account wallets. Do you think this policy is fair?

For me, that will be the worst policy ever implemented by a crypto-gambling casino, because 15% is actually not a small money to be waste on mere charges. But however, i have never been charge, and I hope not to ever be charge, because i have no dormant account with funds. But this is very common with banks and i have been charged numerous times, that can be very annoying sometimes seeing your $100 turning to $98 after bank charges have been deducted.
 

[Jating]

Are you familiar with this? Or has anybody here been actually charged for having his/her crypto gambling account inactive for several months?

No.

The monthly charge could be as high as 15% of the remaining balance. Or, worse, the entire balance could be withheld by the platform itself. Although it could be for security's sake and be returned upon request, who knows what conditions or perhaps KYC information they would require just to have your money back? 

That is huge, 15% is going to be charge if you just keep your money on their platform? That is short of a scam to me. And with that said, I think gamblers now are going to read the Terms of the gambling platform that they are playing or going to play in the future.

For the sake of discussion, let's set aside the fact that one shouldn't leave money in gambling account wallets. Do you think this policy is fair?

Again, as I have said, I'm totally against it, and the only thing we can do is really play our money with them and hope that we can win and get it out the soonest.

Interesting to know how long you can left it? 1 year? 6 months?

[coolcoinz]

I haven't seen it and haven't been charged, but as a rule of thumb I never hold any money on my casino account. When I want to gamble I send some coins there and wait for up to an hour for it to be processed. Lately I've been only betting on UFC and boxing so I can wait a bit, there's no rush. The only time when I don't bother to cash out is when I have less than $10 in there. A few dollars isn't really a loss so I t doesn't bother me, but I wouldn't want to be charged for a dormant account.

[noormcs5]

Are you familiar with this? Or has anybody here been actually charged for having his/her crypto gambling account inactive for several months?

The monthly charge could be as high as 15% of the remaining balance. Or, worse, the entire balance could be withheld by the platform itself. Although it could be for security's sake and be returned upon request, who knows what conditions or perhaps KYC information they would require just to have your money back? 

Did you experience any such rule of fees charged on dormant gambling accounts ? To be honest, this is the first time i am hearing that this term of  "dormant account" is used in gambling accounts too ? I thought this was limited to bank accounts where your account become dormant if there is no activity in the account for six month or an year, depending upon the bank's policy.

For the sake of discussion, let's set aside the fact that one shouldn't leave money in gambling account wallets. Do you think this policy is fair?

Regardless if any casino has this policy or not, it is not advisable to use gambling account as a wallet and store your funds on the exchange. Gambling sites are centralized and we never know what could happen to them in future. Keep only the money with which you need to gamble at the sites and regularly withdrawal all your winnings from the gambling casino sites.

[ralle14]

For the sake of discussion, let's set aside the fact that one shouldn't leave money in gambling account wallets. Do you think this policy is fair?

The policy doesn't favor gamblers so I have to say no but I remember that there are casinos that automatically delete accounts when they're inactive for a long time.

I have accounts that I probably haven't logged in to for maybe a year or two but I haven't received any notice about getting charged and I doubt they'll get anything if they do so and that would just discourage us gamblers to come back in the future.

[serjent05]

Are you familiar with this? Or has anybody here been actually charged for having his/her crypto gambling account inactive for several months?

I am familiar with the process but not in a casino. Banks have this and I experienced that when I left a balance that is below their minimum requirement.

For the sake of discussion, let's set aside the fact that one shouldn't leave money in gambling account wallets. Do you think this policy is fair?

Thinking about maintenance, and security, I think it is fair for the casino to charge dormant accounts since they are not getting any activity from the account to at least make a profit. Charging fix amount and not as high as 15%  of the balance is reasonable since the account balance no matter how big or small doesn't increase or decrease the maintenance and security fee.

[Darker45]

Thanks for all your responses!

Honestly, I was surprised when I encountered this. Although I have been gambling for some time already, I have to admit I really wasn't familiar with this. So it isn't surprising either to find out that many of you, including old gamblers, are also surprised with this specific term.

But it's there in many crypto gambling platforms. Inactive accounts could be charged for being inactive. They could be permanently closed. Not only that, it could mean that all money left is permanently taken away. So if you frown that your inactive account is being charged for up to 15% monthly, you'd surely be aghast to know that other platforms could simply take everything away.

Roobet:

You acknowledge that the Company may close your account if you did not log into it for 365 days (one year), and all remaining Roollion (funds/money) in the Iron Pouch (wallet) will be permanently lost.

(^*red mine)

Bitcasino:

We reserve the right to close player accounts that have been inactive for more than 12 months. In case your account has deposited funds after the 12-month inactive period, we reserve the right to use the remaining deposited funds for administrative costs for closing the account.

Sportsbet:

If you do not use your account that has deposited funds for 3 months, you will receive a notice from us. If you do not use your deposits after our notice within 1 month, we reserve the right to deduct monthly administrative costs from your deposit remaining on your account. The administrative cost may be up to 15% from your deposited funds remaining on your account. After 180 days we may remove the balance from your account to increase security on the funds.

CryptoGames:

If you do not access your Account for any consecutive period of 180 days, we reserve the right to shut down such and retain any associated funds.

These are just a few examples of crypto gambling platforms that implement what I'm talking about. Please note, though, that while some close accounts, others only suspend accounts, and they could then be reactivated upon request.

In this regard, I'm also happy to share that I've encountered at least one platform that do not do this.

Betfury:

BetFury does not block or suspend Inactive accounts (an account that has not been used for a long period of time).

I'm now interested to open another thread comparing top crypto gambling platforms' policies on dormant or inactive accounts, especially on how they would handle funds left in wallets. This might matter to some gamblers who are unfamiliar with these terms and, like me, seasonal bettors and have the tendency to leave a certain amount in their gambling wallets for easy betting anytime. This may also significantly matter to those who are comparing and considering which platform to use.

[Bttzed03]

^ I've only read about disabling/deactivating of account due to inactivity. It's only now that I learned about the 15% administrative cost or balance forfeiture to cover whatever cost they say. I don't know but those terms look predatory to me. Hopefully, none of those mentioned casinos actually implement them.

[Darker45]

^ I've only read about disabling/deactivating of account due to inactivity. It's only now that I learned about the 15% administrative cost or balance forfeiture to cover whatever cost they say. I don't know but those terms look predatory to me. Hopefully, none of those mentioned casinos actually implement them.

Indeed, unfair and predatory. I would have also hoped it won't be implemented, but it was, at least on one of my gambling accounts.

I also don't understand this forfeiture of an entire balance or monthly fee for inactive or dormant accounts to cover administrative costs. It's as if they're manually maintaining accounts one by one.

In particular, I'm even more suspicious of platforms that implement very short inactivity period for remaining funds to be forfeited. 5 months, for example, is too short. This too much intolerance against inactive accounts is suggestive of an ulterior motive.

[mindrust]

Easy to solve.

If you are going to leave the platform for a long period of time, withdraw everything.

The casinos I use never did something like you mentioned though. I left a few bucks there and years later it was still there un touched.

Different casinos might deal with this situation differently. Still, better be safe than be sorry.

[Daltonik]

I looked through some ToS online casinos for a year I did not find a collection point for account inactivity, that's what I managed to find on this topic, for example, gambling regulation in the UK prohibits any fees from inactive accounts https://www.gamblingcommission.gov.uk/licensees-and-businesses/guide/page/account-inactivity

Account inactivity
Operators cannot use the grounds that the consumer’s account has been inactive to:
confiscate all or part of the funds in a consumer’s Deposit Balance, or otherwise deduct any amount therefrom use, enforce, or seek to rely on any term in a consumer contract or consumer notice which has the object or effect of permitting the operator to confiscate all or part of the funds in a consumer’s Deposit Balance, or otherwise deduct any amount therefrom

However, there were also reports of some casinos sending emails to inactive users about the need to log in to their account as soon as possible to prevent payment of the idle fee, although this was in 2014. https://www.casinomeister.com/forums/threads/stargame-casinos-inactive-fees-charging.62567/

[jrrsparkles]

I remember very few cryptocurrency exchanges had that policies in the past but I am yet to see such policy from a gambling site. And yeah it is unfair in my opinion to have such will encourage people to choose other casinos at the end its going to become disadvantage for the casino itself and no one else.

Incase if their account has been inactive for years then some kind of verification can be implemented for security reasons so the real user won't lose penny and casual gamblers don't have to log in and log out just for the sake of doing it.

[Saisher]

Are you familiar with this? Or has anybody here been actually charged for having his/her crypto gambling account inactive for several months?

I have never heard read or noticed that they charge for dormant accounts, in the first place why would they do that they are not a bank, their license is to operate as a casino,

The monthly charge could be as high as 15% of the remaining balance. Or, worse, the entire balance could be withheld by the platform itself. Although it could be for security's sake and be returned upon request, who knows what conditions or perhaps KYC information they would require just to have your money back? 

It's ok to  hold it and verify the real owner of the account if there is a change of location or IP, but not charge monthly its an unfair and bad business decision, soon gamblers will leave them for unfair treatment

This is similar to a bank policy that requires accounts to have transactions every now and then or be active or else dormancy fees could be charged. But this feels weird to a gambling platform. What happens to seasonal gamblers who don't mind leaving money in their account wallets? One could only be betting during annual work breaks or vacation or during annual sports championship events. Say, the NBA playoffs, The International, and others.

This is a good discussion if we have one existing casino that's implementing this feature so far checking other members' replies there was one in the past, but right now casinos do not implement this, I have accounts on many casinos that I'm not active anymore and some have small balances on them but I never received notifications of dormancy fees.

[jostorres]

For the sake of discussion, let's set aside the fact that one shouldn't leave money in gambling account wallets. Do you think this policy is fair?

It may just be another strategy to ensure that people do not leave their gambling account dormant. it is a policy that favours them so it doesn't have to be fair to you. Thinking about this I think that maybe it is indicated somewhere in the terms and conditions of the gambling platform before you signed up. I also think that the duration however where your account becomes dormant is a short while, It must really take sometime.

Do they think it's good for them? And maybe they are thinking it will make the player keep on betting with them? But, I think no but it actually help the player to forget their platform because they will be forced to withdraw their money if they are, say taking a vacation but if the platform have a different reason and they are only concern of the people who constantly leave their money inside a gambling platform then I salute them for having this idea.

They know that it's not safe to leave money in an online platform so it shouldn't be made as a practice. So far I never saw a gambler that make a thread and complain about this problem so I think this wasn't approved yet.

[Jemzx00]

I'm now interested to open another thread comparing top crypto gambling platforms' policies on dormant or inactive accounts, especially on how they would handle funds left in wallets. This might matter to some gamblers who are unfamiliar with these terms and, like me, seasonal bettors and have the tendency to leave a certain amount in their gambling wallets for easy betting anytime. This may also significantly matter to those who are comparing and considering which platform to use.

Looking forward for this kind of thread to be posted soon. Based on most of the replies on this thread, it seems a lot of people are not aware about any dormant or inactivity fees or what will happen on the funds left on their account.

I guess, I'm speaking for most of us, when I say that we thought that being inactive on any gambling platform will only just lead for active disable which can be enabled by email the said gambling platform. Most of us might even thought that nothing would happen to our if we became inactive so can we just go back and gambling anytime we want.

[adzino]

Are you familiar with this? Or has anybody here been actually charged for having his/her crypto gambling account inactive for several months?

The monthly charge could be as high as 15% of the remaining balance. Or, worse, the entire balance could be withheld by the platform itself. Although it could be for security's sake and be returned upon request, who knows what conditions or perhaps KYC information they would require just to have your money back? 

For the sake of discussion, let's set aside the fact that one shouldn't leave money in gambling account wallets. Do you think this policy is fair?

This is similar to a bank policy that requires accounts to have transactions every now and then or be active or else dormancy fees could be charged. But this feels weird to a gambling platform. What happens to seasonal gamblers who don't mind leaving money in their account wallets? One could only be betting during annual work breaks or vacation or during annual sports championship events. Say, the NBA playoffs, The International, and others.

You are right, one should never leave their funds on their gambling account. If they are done gambling be back for few weeks or few days, they should withdraw their funds and store it somewhere safe. Casinos can charge a fee if an account was dormant/inactive for more than months. They can charge the account. They don't do it malicious intent. They do it because to discourage users from storing  their funds in their casino. And then it is also an unwanted risk/liability of the casino to hold the funds of the user for years. Casinos might confiscate their entire balance, but if the user requests, the casino if they can, they will return you the funds. Read the terms of services of the casino before gambling!