Goated.com 🐐 | The #1 Crypto Casino | Sports | VIP Transfer✨| Rewards 🎁

[DPHOR]

This is interesting, I have never seen a casino provide a loan for their players, maybe there can be other casinos with similar program I've missed.
I have no idea how it works but looking at the information above, the collateral is a pending rewards which I cant really understand about it.
Are these pending rewards refers to upcoming rewards that might be received by players such as level up bonus, monthly bonus etc?
How if players decided to stop playing and withdraw the money after getting the loan which means there is low possibility of pending rewards?

Goated Loans are only available for high VIP ranks at the casino. So you already have to be an established player. Someone with at least $3,000,000 in wagers, meaning plenty of deposits and cash to throw around. According to their own estimates, such a rank earned you over $400 in bonuses plus over $1,000 in rank-up rewards. I am sure they have rules in place that protects them against someone taking out a loan and running away or at least minimizes such a risk. Maybe you need to keep a certain balance in your account for the duration of the loan as well and only a part of the collateral is covered from future rewards.

One thing I noticed about this casino is that before they allowed someone to loan from their platform the said gambler must have loose seriously couples with the person being in their VIP rank.
The said amount which you mentioned above is extremely high, I would want to know how this is being calculated, because it's actually hard for someone to deposit up to that amount, even as some people do not go higher than 100$ per week.
Is it the total amount deposited and the amount wagered, lose and win, the commutative of all gives the total submission of someone being into the VIP rank?

[adultcrypto]

The said amount which you mentioned above is extremely high, I would want to know how this is being calculated, because it's actually hard for someone to deposit up to that amount, even as some people do not go higher than 100$ per week.
Is it the total amount deposited and the amount wagered, lose and win, the commutative of all gives the total submission of someone being into the VIP rank?

Wager is simply the amount of money a player placed bet with irrespective of the outcome. In other words, it is the cumulative amount the player bet in all his gambling activities. Most casinos display such information in the backoffice of their users so that they can monitor their progress. The volume wagerred is what determines the rank of the player in the casino and also determine their benefits in terms of cashback, rakeback and other bonuses.

Goated casino use that information as well in their loan service to ensure that the people they are giving their loans are financially capable and also those who have patronised them to a great extent.

[Pmalek]

One thing I noticed about this casino is that before they allowed someone to loan from their platform the said gambler must have loose seriously couples with the person being in their VIP rank.
The said amount which you mentioned above is extremely high, I would want to know how this is being calculated, because it's actually hard for someone to deposit up to that amount, even as some people do not go higher than 100$ per week.
Is it the total amount deposited and the amount wagered, lose and win, the commutative of all gives the total submission of someone being into the VIP rank?

They don't mention losses and wins. It doesn't matter. As I wrote in my previous post, to become a Sapphire 1 VIP, which is the requirement to get a loan, you need to have wagered a minimum of $3,000,000. Wagered as in bet/played with. Your deposits can be lower than that. Depending on your success as a gambler, deposits don't have to follow the wagered amount.

Here is an example.
You deposit $100 and win. Your new balance is $200. You bet $100 again and lose. Your balance is back to $100. You bet $100 again and lose. You no longer have any money in your account. Your total wagers amount to $300, but you only deposited $100.

[Perfectbaby]

Best decision by admin

Not admin. There are two admins: theymos, and Cyrus.
While the first thread was locked, moved to Archival by Mitchell who is a global moderator.

Only lack of information like Mitchell did that because he saw this thread and discussion here or someone reported this thread and issue to him.

because I did not see any read why they should be having two Ann, and not just that since the their support confirmed that their official Ann thread is this, do we say that the previous Ann was an impersonation or what?

Impersonating accusation must be on a second thread, rather than a first thread. Because with the first announcement thread, Goated run their signature campaign many weeks. It's a confirmation that a first thread is officially from them.

Are you directly saying that this second thread is impersonating the first Ann thread?
But even after confirming that they had only just one official Ann thread and which is this, how then do we think that the first thread is not them? Even after running signatures over here for some weeks?
I think there should be close look to this site as anything could likely happened along the line.

[Potato Chips]

I am not entirely sure why OP said this is their only official thread TBH.

But they were certainly aware of Goombas' thread and I suppose was OK with it up to a certain point of time because they posted in the said thread + ran campaign with it as their ANN.

We can see that OP tried ask Goombas to update his thread, but alas, he was inactive and who knows when he'll come back.

Jumping in from the Goated side to close this one out — the "future addition" Goombas mentioned last year is now live. Different build than the original beta tease, properly shipped this time.

@Goombas — worth updating the thread title to reflect what's actually on the platform now.

[dzungmobile]

Are you directly saying that this second thread is impersonating the first Ann thread?
But even after confirming that they had only just one official Ann thread and which is this, how then do we think that the first thread is not them? Even after running signatures over here for some weeks?

I did not say that, you did, and your previous post was confusing, at least from how I read and understood its meaning.

I believe that my previous post relied yours is clear enough in meaning. Like the first announcement thread created and used for advertisement, with engagement of a signature campaign manager for Goated campaign for weeks, so it's not an impersonating. If there is any concern about impersonating attempt, it should be a second thread (this one).

But as we all knew, there is a confirmation from customer support chat, and this thread is an official one from Goated.

Alright, I asked their live support. They confirmed this is their official account in bitcointalk. The link they sent is pretty much this thread.

[panjul07]

-snip-

Goated Loans are only available for high VIP ranks at the casino. So you already have to be an established player. Someone with at least $3,000,000 in wagers, meaning plenty of deposits and cash to throw around. According to their own estimates, such a rank earned you over $400 in bonuses plus over $1,000 in rank-up rewards. I am sure they have rules in place that protects them against someone taking out a loan and running away or at least minimizes such a risk. Maybe you need to keep a certain balance in your account for the duration of the loan as well and only a part of the collateral is covered from future rewards.

$3M wager means Sapphire 1 level but with their VIP transfer program, this level can be achieved with $250k wager only but of course someone need to have an account in other casino with $3m or more wager stats.
Checked their help center and I found a bit more information about this loan program, it is written that there is no exact formula about how much someone can request a loan so I guess betting history (deposit and wager) will have a big impact on the calculation.
No information about min and max duration of the loan as well so it must be something negotiable upon request through the VIP host.

[Pmalek]

No information about min and max duration of the loan as well so it must be something negotiable upon request through the VIP host.

For sure. You probably need to tell your VIP manager what you want and then they will check and offer you the terms for the loan. My guess is that the casino would want to perform identity verification of the player who is taking out the loan if they haven't already done that in the past because VIPs play and move big sums. It would also be interesting to know if the person can simply withdraw all the loaned money from the casino with only a promise to return it at X date or if the two parties also need to sign a written agreement (I don't want to say contract).

[Yablee0]

This actually means for you to get the loan you must have spent huge amount of money gambling on the casino.
There is no way a casino will just wake up and create a loan option for the customers just like that, when I saw the news I already knew to get the loan you most have spent a lot on the casino site.
 
Creating the loan option is actually very good however, since it’s just for VIPs, I believe it is also a way to attract or make people to use the casino more often so they can get to a point they can be eligible for the loan.

This is the first time I am seeing a casino giving out a lending hand's to their customers, I mean the VIP once, that's amazing. However, this innovative idea is enough to attract more user's to it because it's just so unusual seeing this taking place.

But if I may ask, I don't know if I can get clarity on this. Is the player I mean the person that took the loan if it's mandatory he must use the money to gamble back to the casino or he's free to walk away with it pending on when he will pay back the loan. I am just curious if that can be possible?

[Cointxz]

This actually means for you to get the loan you must have spent huge amount of money gambling on the casino.
There is no way a casino will just wake up and create a loan option for the customers just like that, when I saw the news I already knew to get the loan you most have spent a lot on the casino site.
 
Creating the loan option is actually very good however, since it’s just for VIPs, I believe it is also a way to attract or make people to use the casino more often so they can get to a point they can be eligible for the loan.

This is the first time I am seeing a casino giving out a lending hand's to their customers, I mean the VIP once, that's amazing. However, this innovative idea is enough to attract more user's to it because it's just so unusual seeing this taking place.

But if I may ask, I don't know if I can get clarity on this. Is the player I mean the person that took the loan if it's mandatory he must use the money to gamble back to the casino or he's free to walk away with it pending on when he will pay back the loan. I am just curious if that can be possible?

You mean online casino right? Because loan is very common on physical casino especially on VIP players since some gamblers preferred to go on casino without cash or they just want to extend their line of credit.

However, this is very uncommon in online casino specifically crypto casino because user can run away while online casino operates on different country.

I’m skeptical on how this loan work but I believe it might need some collateral or just very limited based on the VIP level.

[Yablee0]

However, this is very uncommon in online casino specifically crypto casino because user can run away while online casino operates on different country.

I’m skeptical on how this loan work but I believe it might need some collateral or just very limited based on the VIP level.

That's the more reason I was just surprised when I saw it and for that seeking more clarity on that because it can barely happen.  For a casino giving out fund's which I am pretty sure it will be a very huge amount to someone without any form of collateral for it. How are they sure of getting back their money if the player later comes up with an evil intentions or decide not to show up again. It's quite complicated so to speak.

[Barikui1]

This actually means for you to get the loan you must have spent huge amount of money gambling on the casino.
There is no way a casino will just wake up and create a loan option for the customers just like that, when I saw the news I already knew to get the loan you most have spent a lot on the casino site.
 
Creating the loan option is actually very good however, since it’s just for VIPs, I believe it is also a way to attract or make people to use the casino more often so they can get to a point they can be eligible for the loan.

This line of action by Goated.com leaves a bitter sweet feeling in my mouth because at first it may look like a nice initiative that will help gamblers very well, but on the other hand it can also become very dangerous for the gambler, because addiction can struck very fast and easy.

If a gambler lose all his money and he decides to borrow more money to gamble instead of calling it a day, that is a dangerous move that is like not going to end well, so some people or even some gamblers will say that goated is aiding addiction or aiding irresponsible gambling harbit, this is why I see this line of action strange.

[Bitcoin_Arena]

I was a bit surprised seeing a brand new Goated.com thread. I even thought it was a brand-new casino that had just been launched, only to realize it's just a new thread. I really wonder why they had to leave the old thread that had a bit of history of the casino since its launch in the forum. Was it because they no longer had control of the account that started the thread?

[Mahdirakib]

~ This is interesting, I have never seen a casino provide a loan for their players, maybe there can be other casinos with similar program I've missed. ~snip~

This is really interesting, and BetFury was also having a loan feature for its users. They have discontinued it 6 months ago. 'Zwei' had mentioned another casino name with a loan feature while we were discussing it in BetFury ANN thread. That platform was also using users VIP rank as collateral for the loan. Seems like it will work similarly at Goated.

[Futurexxx]

~ This is interesting, I have never seen a casino provide a loan for their players, maybe there can be other casinos with similar program I've missed. ~snip~

This is really interesting, and BetFury was also having a loan feature for its users. They have discontinued it 6 months ago. 'Zwei' had mentioned another casino name with a loan feature while we were discussing it in BetFury ANN thread. That platform was also using users VIP rank as collateral for the loan. Seems like it will work similarly at Goated.

I don't know about others, but I see this loan features as a very bad idea because it's like encouraging addictive gambler to gamble more when he or she should have called it a day when he is out of funds.

Then talking about using VIP rank as collateral, is that enough to hold unto for someone that borrows $1k?
I just don't know how it works though, but I believe that borrowing money to gamble is a terrible idea for a gambler.

[hd49728]

I don't know about others, but I see this loan features as a very bad idea because it's like encouraging addictive gambler to gamble more when he or she should have called it a day when he is out of funds.

If there is no legal challenge for that loan feature on casinos, casinos are free to deploy such loan features for their users. Users on their side are fully responsible for their actions, and it's more than Gambling responsible but now including Making loan responsible.

Addictive or not, it's responsibility of users to do that, but let me emphasize again, it depends on whether such features are legal.

From casino side, they have to analyze result from the loan feature, like whether it actually helps their business income in long term. If results are not good as initially expected, they can stop that feature anytime, and such decision is normal with any business.

Then talking about using VIP rank as collateral, is that enough to hold unto for someone that borrows $1k?

I consider it is like in the forum, a forum account, a gambler account should never be used as a collateral.

[Zwei]

I don't know about others, but I see this loan features as a very bad idea because it's like encouraging addictive gambler to gamble more when he or she should have called it a day when he is out of funds.

maybe if you were taking actual real loans, i would agree. but technically, goated loans are not real loans, they are basically lending you a % of future rewards (i think weekly, monthly, level up bonus).
so the worst that can happen if you default, is your VIP could derank, and not get pending rewards.

Then talking about using VIP rank as collateral, is that enough to hold unto for someone that borrows $1k?
I just don't know how it works though,

for example, emerald 2 rank level up rewards is ~$1,200, so them giving you a $1k loan when you are close to level up, should not be a problem for them. if you don't pay the loan back, they could deduct the loan amount from the level up reward.

(i don't know for a fact how it works on goated, i'm just making assumptions based on things i've seen before, so don't take my words for it)

but I believe that borrowing money to gamble is a terrible idea for a gambler.

if anyone is borrowing actual money to gamble, they are retarded.

[letteredhub]

~ This is interesting, I have never seen a casino provide a loan for their players, maybe there can be other casinos with similar program I've missed. ~snip~

This is really interesting, and BetFury was also having a loan feature for its users. They have discontinued it 6 months ago. 'Zwei' had mentioned another casino name with a loan feature while we were discussing it in BetFury ANN thread. That platform was also using users VIP rank as collateral for the loan. Seems like it will work similarly at Goated.

I don't know about others, but I see this loan features as a very bad idea because it's like encouraging addictive gambler to gamble more when he or she should have called it a day when he is out of funds.

Then talking about using VIP rank as collateral, is that enough to hold unto for someone that borrows $1k?
I just don't know how it works though, but I believe that borrowing money to gamble is a terrible idea for a gambler.

You may not like the idea with the loan feature by the casinos but as perfect as it's not going by your point raised I think, a gambler who wants take loan to gamble would still do it anyway even without the casino offering such feature. Okay, so it's some kind of better to getting that loan from the casino itself than getting it elsewhere where you gonna be faced with pressure of paying back at an agreed time, when for the casino it might be only whenever the gambler makes a deposit again... No pressure of paying back.

[Jaycoinz]

However, this is very uncommon in online casino specifically crypto casino because user can run away while online casino operates on different country.

I’m skeptical on how this loan work but I believe it might need some collateral or just very limited based on the VIP level.

That's the more reason I was just surprised when I saw it and for that seeking more clarity on that because it can barely happen.  For a casino giving out fund's which I am pretty sure it will be a very huge amount to someone without any form of collateral for it. How are they sure of getting back their money if the player later comes up with an evil intentions or decide not to show up again? It's quite complicated, so to speak.

I don't know what to say because I'm also new to this sort of feature on a casino and any casino, for that matter, but one thing that ought to be clear is the fact that the casino might have leverage over the players they are wishing to offer such loan for because on a plain sense everything doesn't look or sit right because of the fact that the gambler can decide to just leave the casino anytime he wants especially as you clear about the difference in regions.

But a positive from the idea is that it's gonna attract possible high rollers to the platform although it still depends on the particular amount the casino will be giving as loan.

[Cantsay]

That's the more reason I was just surprised when I saw it and for that seeking more clarity on that because it can barely happen.  For a casino giving out fund's which I am pretty sure it will be a very huge amount to someone without any form of collateral for it. How are they sure of getting back their money if the player later comes up with an evil intentions or decide not to show up again. It's quite complicated so to speak.

I feel the risk would be low, because to have gotten the required $3,000,000 wagering requirements and the bonuses you would be getting from that rank, all of those things won't make you just abandon your account that you have used lots of effort to raise.

The only time I see them running is if the gambler has finally made up their mind to stop gambling, but if they are still gambling, then I don't think they would be that greedy that they would just throw away all they are getting from the site for some dollars. The risk is there, true, but not for all their users.