Play equal to deposited funds before you can withdraw

[libert19]

Who else finds this requirements from casinos BS?

[stadus]

Who else finds this requirements from casinos BS?

That's what's called a wagering requirement. I don't consider it to be BS, though; they have their own rules, and as long as it doesn't break the law, that's fine. You know, I understand the reason behind it. They want to ensure that their platform won't be abused by players whose intention is just to mix their funds. So, I think it's reasonable to implement these rules because, in the first place, when you deposit funds, you intend to gamble with them, right?

[Bitinity]

Who else finds this requirements from casinos BS?

This is a common or standard rule in gambling site, as mentioned by stadus above, the main purpose of this rule is that casino do not want to see the casino is being used for mixing money or even a wallet. I do not see it as a BS, any online service has the right to set any rule and you as customer are also having the right to accept it or not. If you find that 1x wagering requirement for your deposit is a BS or maybe other rules as BS, then dont use the casino. Just for your information, there are even some casinos with wagering requirement for deposit higher than 1x.

[Silberman]

Who else finds this requirements from casinos BS?

That's what's called a wagering requirement. I don't consider it to be BS, though; they have their own rules, and as long as it doesn't break the law, that's fine. You know, I understand the reason behind it. They want to ensure that their platform won't be abused by players whose intention is just to mix their funds. So, I think it's reasonable to implement these rules because, in the first place, when you deposit funds, you intend to gamble with them, right?

This is the main motivation behind that rule, there was a time in which that rule was not in effect and personally I liked it a lot, however hackers and scammers took advantage of it by making a deposit and then asking for a withdrawal immediately so they could get fresh and clean coins in return, while the casino was the one that had to deal with all the trouble coming their way, so casinos implemented this rule as a way to protect themselves, and while I can see why some gamblers may not like it, that rule will remain in place as long as scammers and hackers are so widespread in this market.

[Natalim]

If you're not a regular gambler, you might be surprised by this, but many gambling sites do indeed implement such a rule. Having a 1x wagering requirement on your initial deposit can seem reasonable. Once you've deposited your money, your primary intention is typically to engage in gambling activities. From a gambler's perspective, it can be seen as fair. It ensures that once you deposit, you're fully aware that you're entering a situation where you're ready to take risks with your money.

[X-ray]

Any sites have different gambling requirements before you are able to withdraw your money but it's not always being equal to the deposited funds. Some sites are also able let you to withdrawing your money after you have been doing some bets.
The requirements are vary totally depends on the regulations that being implemented into the gambling site. I have no problem with these requirements.

Keep in your mind that if it must not equal to the deposited funds. As long as you were playing before you are withdrawing and that's fine. Im not seeing this requirement as a burden for the gamblers since you can also make small bet to fill it up.
Just try to gamble it and then you will able to withdraw it. It's not something wrong.

[Wiwo]

Simply put this mean,  1x wager requirements,  and this is fair enough if you ask me because this is the standard procedure with most casino and some that may even go worse will go as far as asking for x5 wagering which at that point becomes a big challenge to gamblers,  because in trying to meet the wager requirements,  you may sometimes end up losing your already won amount.

So I don't see anything big or wrong is having to wager your entire deposits once before being able to withdraw them,  this is to avoid casinos being used as money laundering tools where people just deposits get the coins mixed and withdrawn without traces

[Japinat]

I've come across some sites that aren't too particular about that, but there are also those that implement such a rule. The best thing to do is to read their TOS so you don't end up complaining when your withdrawal gets put on hold. Just remember that the crypto gambling industry is a huge market, which means there are lots of players. So, choose the best one for you.

[noormcs5]

Who else finds this requirements from casinos BS?

I guess this requirement is in every casino and some may even ask to wager the deposit twice or thrice before you can withdraw. There are two main purposes of it. First, when people wager, they will most probably lose money and hence it is a profit for the casino.

Secondly, the other reason that the gambling sites will give publicly is that this helps prevent money laundering and other illegal activities.
Why would you deposit on a casino site when you do not want to wager and gamble with it? If this wagering requirement is lifted, some people may use these platforms for money laundering, that is depositing on the gambling sites and withdrawing at the other end without gambling.

[coin-investor]

If you're not a regular gambler, you might be surprised by this, but many gambling sites do indeed implement such a rule. Having a 1x wagering requirement on your initial deposit can seem reasonable. Once you've deposited your money, your primary intention is typically to engage in gambling activities. From a gambler's perspective, it can be seen as fair. It ensures that once you deposit, you're fully aware that you're entering a situation where you're ready to take risks with your money.

I read somewhere where one newbie deposited and after losing 30% of what he deposited opted to withdraw what was left what he deposited his reasoning was a change of mind because of fear of losing everything, of course, the casino did not let him withdraw his money stating what's written in their terms.
This is one of the big mistakes of newbies not aware of the wagering requirement.

There is no change of mind policy when it comes to gambling, newbies are encouraged to always read and check for changes in the Casino's terms of service, policy, and FAQ they are always guiding for safer gambling awareness, not familiarizing on these will put you in big trouble.

[Cantsay]

Who else finds this requirements from casinos BS?

If casinos allow users to just deposit and instantly make withdrawals without having to complete any requirements then you’d have seen different people using casino for other nefarious purposes like laundering money. If I can just deposit money into my gambling account and withdraw it into a different wallet address why would I need service like mixers to prevent other from being able to track my transactions?

The only time it becomes a nuisance is when the wagering requirement becomes almost impossible to complete for example those asking you to wager x60 before you can withdraw.

[stadus]

Who else finds this requirements from casinos BS?

That's what's called a wagering requirement. I don't consider it to be BS, though; they have their own rules, and as long as it doesn't break the law, that's fine. You know, I understand the reason behind it. They want to ensure that their platform won't be abused by players whose intention is just to mix their funds. So, I think it's reasonable to implement these rules because, in the first place, when you deposit funds, you intend to gamble with them, right?

This is the main motivation behind that rule, there was a time in which that rule was not in effect and personally I liked it a lot, however hackers and scammers took advantage of it by making a deposit and then asking for a withdrawal immediately so they could get fresh and clean coins in return, while the casino was the one that had to deal with all the trouble coming their way, so casinos implemented this rule as a way to protect themselves, and while I can see why some gamblers may not like it, that rule will remain in place as long as scammers and hackers are so widespread in this market.

This rule is applicable to everyone; we are gamblers, and we don't back down. We should gamble with everything we've deposited and only withdraw when the winnings are substantial. Personally, I wouldn't even withdraw my funds when I've won 100% of my initial deposit because I'm certain I'd continue to gamble. So, it's only a waste of time for me if I have to deposit funds again. We aim to win big, unless you're a high roller who's content with 100%. But for gamblers who deposit, let's say, $100, I think it's more satisfying if we can cash out with $1,000 in our wallet.

[yahoo62278]

Who else finds this requirements from casinos BS?

Honestly, why deposit if you're worried about having to wager your deposit? If I deposit $1000 somewhere and I hit something big early in my wagering, how hard is it to finish wagering the deposit amount 1x and guarantee myself profit? Especially if the site has dice.

I think some things are unrealistic to ask from players, but this is not 1 of the things I find to be too much.

[iv4n]

Who else finds this requirements from casinos BS?

Well, I wouldn't say it's BS, some people are really using casinos as mixers, and there is that AML policy as well. I doubt that this wagering requirement will stop people from doing anything illegal, but at least it's some protection.

I guess it's more about keeping players on the site... when we decide to deposit and we win after a few bets this is a nice way of saying "play a bit more" to players, and when we play a bit more there's always a chance that we will get busted.

[Outhue]

Always deposit the exact amount you are ready to use for gambling, how is playing equal to deposited funds before withdrawing a BS? I don't think so, you are only thinking for yourself and it's fine but what about you been the casino owner? You would have love this rules before withdrawing, or won't you?

It is the same claim by gamblers who wants to rob casinos by taking their offers and bonuses and withdrawing instantly, if this is allowed why won't other gamblers abuse it? You will see loads of multiple accounts making deposits on the casino to get bonuses and click on the withdraw in an instant.

The only time where this should be normal is after you win for real, deposit money on the casino and do some gambling and if you get lucky and win some money you will be able to withdraw normally, if you running a casino you will know why some things are necessary, for the business to flourish and for the business to also not turn into a illegal platform.

[edmundduke]

Who else finds this requirements from casinos BS?

It is a BS requirement and i really dont like it. It is widely used however.

Btw, depending on the location and local laws, the practice might also be illegal if you are deaing with a licensed casino. This style of a restriction can be imposed on "bonus" winnings but not necessarily for the initial deposit.

[libert19]

Who else finds this requirements from casinos BS?

It is a BS requirement and i really dont like it. It is widely used however.

Btw, depending on the location and local laws, the practice might also be illegal if you are deaing with a licensed casino. This style of a restriction can be imposed on "bonus" winnings but not necessarily for the initial deposit.

I'm talking about this restricting on initial deposit only, I understand and agree with such restrictions on bonuses.


Previous comments cite AML, I'd argue you can do same thing on cexes, deposit and withdraw instantly, they don't force you to trade.

Now again, if someone argues you are kyc'ed on cexes, I reply only recently most cexes are making kyc mandatory, it wasn't the case before.

[ethereumhunter]

You can meet these requirements when you want to take a promotion. Some casinos apply this requirement and you have to play the gambling games equal to the funds deposited before getting the bonus. But some casinos apply this when you want to withdraw your winnings and some casinos apply this betting requirement so high that it is burdensome for gamblers to achieve it.

If you don't want to meet requirements like that, you can deposit and gamble without thinking about winning. So you will play gambling without burden. Just play. Winning is just winning and losing is just losing.

[Solosanz]

Casino is a place to play, if we make a deposit and not playing on there, then what's the purpose?

If someone make a deposit and only gamble for few time with small amount of money, the user is want to use the casino for money laundering, as we know most of casinos are combat against money laundering.

If you not happy with this rule, you can gamble in Web 3.0 casino and ask whenever they have this rule or not.

[Jating]

Who else finds this requirements from casinos BS?

Of course, every gambler will find this wagering requirement BS. However, we should understand where they are coming from. Their platform could be used as a money laundering scheme. Those individuals can just deposit their tainted bitcoin then they can just withdraw it right away, so this casinos wanted to make sure that at least you play some money, just percentage of your deposit before you can withdraw it. Unlike in traditional based though, if you put some money on a game let's say a slot machine and you don't want to continue, then you can withdraw your money and encash it, or just continue to play with other games. But this is offline, so this casinos will have to protect themselves from people who find loopholes, not just in casinos, even in exchange platforms as well because there are certain individuals who might do it.