Lossback offers with only 1× wagering, are they really worth it?

[Kasabus]

I recently saw a new casino announce thread offering a lossback promo with just 1× wagering, which honestly looks pretty good. I won’t name the casino, but it made me wonder how common this really is.

Do you know other casinos that offer the same kind of lossback not the usual crazy rollover?

Let’s say the lossback is up to $1k, you lose, get the credit, then manage to win after wagering it once. Do they usually require full KYC before withdrawal, or did you manage to cash out without much hassle?

Interested to hear real experiences, not just what’s written in the promo terms.

[Hazink]

The casino in question is offering that promo only to Bitcointalk members, and it's only limited for a period of time based on what I read from the thread. As for KYC, since the casino is new, we have to wait for those who are running a review for the casino to come and give us full feedback on how things went. That's if anyone wins a significant amount, enough to trigger extra KYC like some casinos do.

[Mindyspace]

This type of cashback with a 1x requirement is quite rare. When it appears, it almost always has some limitation in the terms: specific games, short deadline, withdrawal limit, or hidden rules. In practice, many casinos require full KYC verification before releasing any withdrawal, right? Even in simple promotions. The advertisement is usually much better than the real experience.

That's how I see it... But I have a question:

Has anyone here managed to withdraw one of these cashbacks without any headaches, or does some extra requirement always appear?

[alegotardo]

I am always suspicious....
It is hard to believe something like that, because a wagering requirement of only 1x is very rare (or even extinct these days).
Since you did not mention the casino, it is difficult to give an opinion, but is it a new casino? It may have investment resources and decide to bet on this marketing strategy to create its initial user base and gain fame.
Or... it could also be something that "seems too good to be true" and despite being something simple, the difficulties will only appear when you try to fulfill the complete requirements... either because of a very bureaucratic KYC or because of rules in the fine print of an absurdly long terms of use.

I hope its something legitimate, anyway.... we should read the first reports about this soon here.

[SmartGold01]

There are things you need to know about gambling and they are deploying a techniques best possible ways to get gamblers entrapped to their gambling sites and even they are losing it doesn't automatically affect them while gambling.
Well I haven't actually tried such to make sure I chased my loses couples with the casino given me bonuses to Make sure I loses more. One thing casinos does is to make sure we remain online talking and Sharing knowledge toward the development.

[yahoo62278]

Seems like a promo to get players in the door, since the casino is new I wouldn't go crazy depositing a ton but if you get a lossback % with a 1x rollover it's an amazing deal. Gotta wonder if too good to be true honestly. Without knowing the casino or promo I am curious what the lossback % is?

[crwth]

I recently saw a new casino announce thread offering a lossback promo with just 1× wagering, which honestly looks pretty good. I won’t name the casino, but it made me wonder how common this really is.

I don't think it's quite common, but upon reading your post, I remember a DEX that I'm using now that offers a rebate for losses. I guess it operates in the same way as this.

Do you know other casinos that offer the same kind of lossback not the usual crazy rollover?

I haven't seen this type of promo now, but if the minimum is affordable to me, maybe I would try it soon.

[bitbollo]

In general, there are NEVER free money in a casino or a sportsbook. Any new casino will try to offer some kind of promotions - based on wagering or deposit of player.

Of course they need to get new players as you can see... there are many other competitors and the pletora of new players cant grow really easily (of course for a new casino this is really hard to achieve). Any offer should be see in detail before claiming it is really worth it.

[maydna]

It looks like I saw that before but I forgot what the casino name. I don't know how they require full KYC before withdrawal but if you are not looks suspicious, they will not asks you doing KYC if you are not yet break the minimum withdrawal amounts.

But you need to ask to supports to have a clear answer. That will avoids you from making mistake and you know your limitation to achieve that.

If you are not cheat them, you can cash out without much hassle. But if that is unknown casinos, they will ask you doing many things including KYC.

[Orpichukwu]

Since you did not mention the casino, it is difficult to give an opinion, but is it a new casino? It may have investment resources and decide to bet on this marketing strategy to create its initial user base and gain fame.
Or...

I'm pretty sure the casino I just shared the link to is the casino in question.

Betmoco.com | Crypto Casino & Sportsbook | VIP Deals

They made the below quoted announcement in there review thread

⚡50% FIRST DEPOSIT LOSSBACK⚡
New players receive🎁🎁 50% of their net losses back on their first deposit, up to $1,000.

Validity:  
- Valid for 3 days from the time of this post  
- Exclusive for Bitcointalk (BCT) users  

👉How it works:
Make your first deposit
Play freely on casino
If luck isn’t on your side, we refund 50% of your losses
Lossback is credited after the loss, upon request

🫴How to claim the lossback:  
Send a PM on Bitcointalk or message us on Telegram at @VIPBETMOCO with:
Your username
Confirmation that you are from BCT
A request for the lossback

Terms:
Valid on first deposit only
Lossback must be wagered 1x before withdrawal

If they are just offering the loss back to only the review members, then it’s easier for them to keep to the agreement, and there is supposed to be no KYC if they are to keep to their own terms, as they boldly stated it in their ANN.

But what casino operates without a proper ToS because I can’t find anyone on their platform?

[Darker45]

~snip~

Orpichukwu, thanks for posting the entire deal! If I haven't read it, I would have a hard time convincing myself that this is true.

As always, though, there has to be a catch. A lossback offer with only 1x wagering requirement doesn't sound sustainable to me. OP missed providing the more important details. That's why it sounded so counterintuitive. But I already guessed it was a temporary promotional offer. Otherwise, it's either highly misleading or an outright scam.

[stadus]

The casino in question is offering that promo only to Bitcointalk members,..

It’s for everyone.
I already posted in this thread and asked about it, and this was the casino’s reply.

This is completely correct 👍 
Review campaigns are optional and have their own rules because rewards are involved. They don’t affect regular users or the standard minimum deposit on the site.

If you haven’t signed up yet, you can do so using this 👉https://betmoco.com/signup/?C=2740465&P=17600
🎁 Get 100% lossback on any sports bet up to $1,000 on your first deposit only.

More details about the campaign and terms can be found here: 
👉 https://bitcointalk.org/index.php?topic=5571980.0

----------
As for the KYC, I can’t really comment on that yet since I haven’t experienced it myself. I also wouldn’t deposit $1k just for a lossback promo.
For a new casino, the maximum I’m willing to risk is around $100.

[Vaculin]

As always, though, there has to be a catch. A lossback offer with only 1x wagering requirement doesn't sound sustainable to me. OP missed providing the more important details. That's why it sounded so counterintuitive. But I already guessed it was a temporary promotional offer. Otherwise, it's either highly misleading or an outright scam.

That’s correct. They wouldn’t be able to survive long with a 100% lossback guarantee, especially with a high limit.
I also haven’t checked yet if it includes sports betting, because if it does, that promo can easily be abused.

If it’s limited to slots or games with a clear house edge, then the promo makes more sense. Even then, it’s obviously not something that can be permanent.

[TastyChillySauce00]

It sounds same like casino is giving an insurance policy for the promotional purpose only. I've seen this thing before on DraftKing, which was offering 17% lossback. However, the req was very complicated. It seems the casino owner has made it easy to attract people to gamble in their platform.
Thanks for some members that already posted what casino it is. yet, it seems i saw two version of lose back ^{(50% & 100%)}. That's pretty smart advertising method.

100% lossback sounds weird, yeah, but 50% a bit makes sense consider people deposit 1k, then they will get 500 bucks in return when they lose it all. Nevertheless, i'm not a fan of it caused by it means you do play for the lose. I'd rather get a deposit bonus instead of lossback.

[Ruttoshi]

This is a temporary marketing strategy by the casino and this loss back % with 1x wager has a limited time since it's a new casino and they are on promo. I believe it's strictly only for forum members based on the information on the thread. It's a way to draw gamblers attention to use the casino and nothing more. This is the first time I have seen feature such in a casino maybe, because I just started using online casinos two years ago.

[Fortify]

I recently saw a new casino announce thread offering a lossback promo with just 1× wagering, which honestly looks pretty good. I won’t name the casino, but it made me wonder how common this really is.

Do you know other casinos that offer the same kind of lossback not the usual crazy rollover?

Let’s say the lossback is up to $1k, you lose, get the credit, then manage to win after wagering it once. Do they usually require full KYC before withdrawal, or did you manage to cash out without much hassle?

Interested to hear real experiences, not just what’s written in the promo terms.

It sounds exactly like getting a free bet up to the size of your loss. The reason it works is it encourages extra play and is usually limited to a single use. Sportsbooks know that a gambler cannot help themselves, somebody who was willing to drop $1k on a bet might get a retry but they are trapped for another two bets before being able to cash anything out. It's a just one of many different promotional tactics a casino will use to help it make you feel like you're winning, constantly losing is just bad for business because you don't get a rush and might never return.

[swogerino]

I recently saw a new casino announce thread offering a lossback promo with just 1× wagering, which honestly looks pretty good. I won’t name the casino, but it made me wonder how common this really is.

Do you know other casinos that offer the same kind of lossback not the usual crazy rollover?

Let’s say the lossback is up to $1k, you lose, get the credit, then manage to win after wagering it once. Do they usually require full KYC before withdrawal, or did you manage to cash out without much hassle?

Interested to hear real experiences, not just what’s written in the promo terms.

This is an interesting promo but for me raises big questions as that 1x wagering requirement can be made extremely fast by playing dice 98% and people can abuse this massively so that casino is going to have to pay big amounts of money to people as surely some people will win by using such technique. Usually reputable casinos have 15x up to 60x crazy rollover requirements which is in place exactly to stop people to abuse such bonuses that the casinos give to players. I would stay away or try with a small amount the bonus there at this new casino to avoid trouble in case things go wrong.

[danherbias07]

Fishy. That's my opinion when they offer promotions like this. If it's a new online casino, then it's more fishy.

It's very rare that there's almost none that offers such a promo, and if they do, there's only a limited time for it. A day or maybe just hours before it expires. That's for reputable online casinos. For a new business trying to market itself, this could be either a trap or a way to attract more players initially. We don't really know the reason behind it, but it's better if we can just avoid it.

Regarding KYC, I doubt they will let someone withdraw that easily because they can be used by people with evil intent, like money laundering. 1x wager is easy to do, but that's if they have good provably fair rules.

[Rashlyowl]

Do you know other casinos that offer the same kind of lossback not the usual crazy rollover?

It is a crazy idea if casinos have a sustainable plan in their operations, I play at several casinos, but I never saw such a promotion.

Let’s say the lossback is up to $1k, you lose, get the credit, then manage to win after wagering it once. Do they usually require full KYC before withdrawal, or did you manage to cash out without much hassle?

No real experience from me, but if you refer to Betmoco, don't hesitate to be asked for KYC, because they have said that they don't require it.

We want to be very clear about how this works in practice:

✅ VPN usage is allowed

✅ We do not ask for KYC

❌ As long as there is no abuse of the system

Don't forget to read until the end bros @Kasabus.

Seems like a promo to get players in the door, since the casino is new I wouldn't go crazy depositing a ton but if you get a lossback % with a 1x rollover it's an amazing deal. Gotta wonder if too good to be true honestly. Without knowing the casino or promo I am curious what the lossback % is?

100% which makes it nonsensical to me.

🎁 Get 100% lossback on any sports bet up to $1,000 on your first deposit only.

They're currently running a review campaign, offering $20 for 10 users. Spending $200 to get good money isn't a bad idea & I don't mean to offend, but I have a feeling this site will be on a scam accusation board someday with this crazy promotion (didn't mean to accuse). If the site is brave enough, it would be good for them to do escrow with one of the reputable users on the forum, it will increase the confidence of players who come from the forum.

[yahoo62278]

Seems like a promo to get players in the door, since the casino is new I wouldn't go crazy depositing a ton but if you get a lossback % with a 1x rollover it's an amazing deal. Gotta wonder if too good to be true honestly. Without knowing the casino or promo I am curious what the lossback % is?

100% which makes it nonsensical to me.

🎁 Get 100% lossback on any sports bet up to $1,000 on your first deposit only.

They're currently running a review campaign, offering $20 for 10 users. Spending $200 to get good money isn't a bad idea & I don't mean to offend, but I have a feeling this site will be on a scam accusation board someday with this crazy promotion (didn't mean to accuse). If the site is brave enough, it would be good for them to do escrow with one of the reputable users on the forum, it will increase the confidence of players who come from the forum.

I just took a look and looks like they hired a fairly new manager to run their promotion. Only reason I say that is usually when a new manager is hired, they offered the cheapest price. Not always a bad thing, just an observation.

1. hiring new manager
2. offering a deal that seems too good to be true
3. offering crazy money for lossback but going super cheap on promo for review

I would likely avoid this casino until their reputation is a little better.