A casino paid £900,000 for delay of withdrawal processing

[jossiel]

There will be a lot of dispute then if these withdrawals processing will often happen.

Putting up into the court will also cost some money for those customers who are annoyed of the delay.

But if the amount that's delayed is substantial, they're willing to put the battle into the court and this might scare the crypto casinos.

[Hispo]

Imagine if this were implemented in crypto casinos, I'm sure this would result in withdrawals being processed on time, and there would be fewer unnecessary withdrawal holds due to investigations that are not always justified.

These are the issues found during the investigation:

1. Customers were only allowed one pending withdrawal at a time.
2. Some withdrawals were delayed because of additional verification documents that could have been collected earlier.
3. The operator failed to properly monitor some customers showing signs of problem gambling.
4. There were also failures in anti-money laundering procedures.

Source: L&L Europe Agrees £900K Settlement Over Withdrawal Delays and AML Failures

Well, to be fair this fine was not only about delaying withdrawals and mistreating gamblers with the KYC/AML measures, this is also about that casino not being able to prevent money laundering from happening on their ecosystem, which is arguably more serious for regulators and countries within the developed world (United States, European Union, the United Kingdom...).

Anyways, if there were fines against casinos which delayed withdrawals and they were enforced by license issuers it would be very difficult to prove, since it would be the word of the casino against our own word, casinos may even make it more difficult for people to download proofs which could be used against them.

[Sanitough]

Well, to be fair this fine was not only about delaying withdrawals and mistreating gamblers with the KYC/AML measures, this is also about that casino not being able to prevent money laundering from happening on their ecosystem, which is arguably more serious for regulators and countries within the developed world (United States, European Union, the United Kingdom...).

But based on the news they were penalized, so if it's about preventing money laundering as they claim they should not have been penalized as they had a valid reason to delay or hold the withdrawal. But still the regulators penalized them and regulators would not do that without a valid basis, otherwise they could be sued by the casino.

[masulum]

-snip-
casinos may even make it more difficult for people to download proofs which could be used against them.

If players cannot easily access the evidence for their issue, its mean it will be more difficult for them to report their issues to the license issuer because they not have enough evidence against the casino. if the situation like that, and then what can gamblers do?
i think we still need a fair way to resolve any delay withdrawal, if its about AML/KYC regulation, i think gambler need a third party from regulators that open their services that users able to follow the process directly not oly waiting from casino that may not giving/too slow to update the process

[Renampun]

Imagine if this were implemented in crypto casinos, I'm sure this would result in withdrawals being processed on time, and there would be fewer unnecessary withdrawal holds due to investigations that are not always justified.

I doubt that the regulators who usually regulate crypto casinos would bother themselves with that.. Besides, another reason crypto casinos want to get licensed there is because the supervision is much lighter compared to regulators like the UK or other reputable regulators... If these regulators tighten their supervision, it will only make crypto casinos look for other regulators with less strict regulations, and that would harm the regulators who have already profited by providing affordable licenses to those crypto casinos. So expecting stricter oversight of crypto casinos is just pointless.

[Questat]

Imagine if this were implemented in crypto casinos, I'm sure this would result in withdrawals being processed on time, and there would be fewer unnecessary withdrawal holds due to investigations that are not always justified.

I doubt that the regulators who usually regulate crypto casinos would bother themselves with that.. Besides, another reason crypto casinos want to get licensed there is because the supervision is much lighter compared to regulators like the UK or other reputable regulators... If these regulators tighten their supervision, it will only make crypto casinos look for other regulators with less strict regulations, and that would harm the regulators who have already profited by providing affordable licenses to those crypto casinos. So expecting stricter oversight of crypto casinos is just pointless.

The very nature of crypto is that we prefer less regulation as what we seek here is to enjoy freedom, so if the regulations become too strict then it's no longer the kind of crypto casino we want. Well, although we cannot discount the possibility of this happening in the future as we are all aware of how governments are trying to control everything, but hopefully it will not happen so we can still enjoy that freedom and casinos will not be discouraged from operating because of the huge penalties they might have to pay.

[xenomorfo]

There will be a lot of dispute then if these withdrawals processing will often happen.

Putting up into the court will also cost some money for those customers who are annoyed of the delay.

But if the amount that's delayed is substantial, they're willing to put the battle into the court and this might scare the crypto casinos.

This is something that i have honestly always struggled to understand, if you owe money to someone and you delay, you will only have more problems, not less.
Ultimately you will have to pay much more, wouldn't it be better to agree an agreement with whoever receives the money?

[Lontor]

Imagine if this were implemented in crypto casinos, I'm sure this would result in withdrawals being processed on time, and there would be fewer unnecessary withdrawal holds due to investigations that are not always justified.

These are the issues found during the investigation:

1. Customers were only allowed one pending withdrawal at a time.
2. Some withdrawals were delayed because of additional verification documents that could have been collected earlier.
3. The operator failed to properly monitor some customers showing signs of problem gambling.
4. There were also failures in anti-money laundering procedures.

Source: L&L Europe Agrees £900K Settlement Over Withdrawal Delays and AML Failures

Many online casinos are guilty of this habit as we speak, I do hope someone can also go after them this way making them pay gratefully for what they have done, presently many online casinos are doing it.

They are so careful with withdrawal and that's fine but some of them intentionally withheld withdrawal one after the other, similar habit as the link that OP provided.

No wonder some of them don't want to be regulated and licensed, because they knew that there will limits to how they can play their games right with their gamblers, unlicensed casinos are most guilty of this than others.

[Hatchy]

This will actually help a lot of players because the number of times casinos delay withdrawals for little or no good reason is becoming ridiculous. With this kind of fund protection in place, casinos will have to think twice before delaying players' withdrawals.

That is very good. This is the reason licensing and regulations can help customers at times. It is just like the ones that we have posted about before about customers not be required to do KYC during deposit, but be forced to do KYC when about to withdraw the money won. But you listed three other wrongdoings of the gambling site which are pending withdrawal that may be connected to the KYC during withdrawal, problem gambling and money laundering, while two are not about withdrawal issues.

Most casinos try to avoid these regulations, which is why they use their no-KYC policy to promote their brands and avoid getting a licence. I don't think it's a good idea to gamble at an unlicensed casino, even if it claims to be no-KYC. Anything can happen at any time, and you may have no one to turn to if the casino starts acting suspiciously or refuses to let you withdraw your winnings.

[Dareo]

There will be a lot of dispute then if these withdrawals processing will often happen.

Putting up into the court will also cost some money for those customers who are annoyed of the delay.

But if the amount that's delayed is substantial, they're willing to put the battle into the court and this might scare the crypto casinos.

This is something that i have honestly always struggled to understand, if you owe money to someone and you delay, you will only have more problems, not less.
Ultimately you will have to pay much more, wouldn't it be better to agree an agreement with whoever receives the money?

The gambling companies are not much worried about the legal implications in the court, because majority of crypto casinos operate in countries where it is practically impossible and extremely expensive to file a lawsuit against them for ordinary people. Casinos play psychological games by postponing the withdrawal for days. After a considerable amount has been sitting on the account for several days, many customers get bored, stop the process of withdrawing funds, start gambling again, and lose all their money.

[Sandra_hakeem]

It's like their alarm is slow to respond to something that is suspected. Their alarm only goes off when there is a notification of a large withdrawal.

You have a point but, that's not the case.

The thing is, these casinos see everything through their back ends, but who they treat as "important" versus who they don't strictly relies on how much is getting in, or out. People in their top priority list are those who spend the most, and people who fall in their check list are those who get urgent, fat winnings. It's not that difficult to reinforce the KYC protocol for every user that signs up right? but why do they refuse to do so?

If regulators are waking up, a lot of cases about delayed withdrawals will be avoided.

[jossiel]

There will be a lot of dispute then if these withdrawals processing will often happen.

Putting up into the court will also cost some money for those customers who are annoyed of the delay.

But if the amount that's delayed is substantial, they're willing to put the battle into the court and this might scare the crypto casinos.

This is something that i have honestly always struggled to understand, if you owe money to someone and you delay, you will only have more problems, not less.
Ultimately you will have to pay much more, wouldn't it be better to agree an agreement with whoever receives the money?

If they have proven that there's no suspicious activity done by their players, they should release it so that there won't be any burden on them.

But that's how business goes, there could be any other reason or that delaying tactic has worked for them for several times and that's why it became part of their process.

Otherwise, if players have seen this type of court battle and some of it have won. The chances is higher this time that we might see the same disputes.

[Sandra_hakeem]

There will be a lot of dispute then if these withdrawals processing will often happen.

Putting up into the court will also cost some money for those customers who are annoyed of the delay.

But if the amount that's delayed is substantial, they're willing to put the battle into the court and this might scare the crypto casinos.

This is something that i have honestly always struggled to understand, if you owe money to someone and you delay, you will only have more problems, not less.
Ultimately you will have to pay much more, wouldn't it be better to agree an agreement with whoever receives the money?

If they have proven that there's no suspicious activity done by their players, they should release it so that there won't be any burden on them.

But that's how business goes, there could be any other reason or that delaying tactic has worked for them for several times and that's why it became part of their process.

Correct. The delay by itself is a strategy they use to keep you more invested--- "For where your treasure is, there your heart will be also[/i]"

It's insane because, like in some cases, they allow you the opportunity to place more bets throughout what's supposed to be the "probation period ", but they just don't allow you the right to make a withdrawal. It's all fun and games till, as it should, one incorruptible regulator steps up to intervene for the gamblers.

Otherwise, if players have seen this type of court battle and some of it have won. The chances is higher this time that we might see the same disputes.

If this doesn't put a stop to that trickery, I don't know what else will.

[Lida93]

I concur to this strategy, delay withdrawal process is unfair, anyone who placed a bet legally and won do not deserve to be put through delays or distress for them to withdraw what they earned.

This is part of customers' right protection, and this should turn into a usual practice so that other casinos can learn. Some casinos endorse this practice just to delay the payout and force the player to play more and eventually lose the money back to the casino.

I like the move taken on this as long as it favours the customer especially with how many casino rules and policies has always stand with the casino. However, delay in withdrawal processing can't be taken to always be a deliberate art endorsed by casinos, sometimes these delays are out of technical issues which may be coinciding within the time of prompting for withdrawal.

[AmaGold70]

There is need for proper regulation among gambling companies, the regulation is a kind of cautionary measures on how they should operate within a particular area where they are licensed, and also treat gamblers they way they ought to be treated. Regulation is not licensing, and when there is a regulatory body, their work is also to ensure that these gambling companies are well monitored to make sure they don't pass boundaries because of they are not monitored they will carry out their operations anyhow they want . Several occasions gamblers use to complain about how casino company have refused to attend to their issues making them to loose confidence in using such platform. There is need to penalize any gambling company that bridge regulatory laws to make sure the gambling platforms are safe for the gamblers who uses them.

[jossiel]

If they have proven that there's no suspicious activity done by their players, they should release it so that there won't be any burden on them.

But that's how business goes, there could be any other reason or that delaying tactic has worked for them for several times and that's why it became part of their process.

Correct. The delay by itself is a strategy they use to keep you more invested--- "For where your treasure is, there your heart will be also[/i]"

I think that the bible verse is inappropriate on this situation since it's related to gambling and that two can't be connected.

But I do see the point

It's insane because, like in some cases, they allow you the opportunity to place more bets throughout what's supposed to be the "probation period ", but they just don't allow you the right to make a withdrawal. It's all fun and games till, as it should, one incorruptible regulator steps up to intervene for the gamblers.

They do allow the withdrawal request but they don't allow it asap, they'll review, they'll delay or make reasoning if they don't have the intention to.

Otherwise, if players have seen this type of court battle and some of it have won. The chances is higher this time that we might see the same disputes.

If this doesn't put a stop to that trickery, I don't know what else will.

Likely that we'll see more of it.

[Zigabel]

The issue of delayed withdrawal processing should begin to come with penalties,  that way, it will make some casinos to sit up and stop all of these flimsy excuses they make as reason for which they did that which they did. If regulatory bodies in charge of these casinos in various countries begin to put up rules that protects the gamblers by fining the casinos when they try something like suc, it will gwt them to be more organised and transparent about their withdrawal process and not giving them all the power to do it at their own time and leisure.

Most of these casinos delayed payments because they see that nothing,  or no actions can be taken against them in that light,  so they just go ahead to do as they wish and come up with excuses which sometimes aren't tangible. When things like this happens,  others probably will learn and will not allow it happen subsequently again.

[sompitonov]

There is need for proper regulation among gambling companies, the regulation is a kind of cautionary measures on how they should operate within a particular area where they are licensed, and also treat gamblers they way they ought to be treated. Regulation is not licensing, and when there is a regulatory body, their work is also to ensure that these gambling companies are well monitored to make sure they don't pass boundaries because of they are not monitored they will carry out their operations anyhow they want . Several occasions gamblers use to complain about how casino company have refused to attend to their issues making them to loose confidence in using such platform. There is need to penalize any gambling company that bridge regulatory laws to make sure the gambling platforms are safe for the gamblers who uses them.

It is absolutely necessary to improve the regulation, but it is necessary to understand that not all countries strive for this. Many of them may be corrupt in this area, and therefore the processes will take place rather slowly, if at all. A delay in the payment of funds is a common thing in the field of online gambling, sometimes it seems to me that some unscrupulous sites do this to make the player nervous, which encourages him to continue the game and lose all his winnings. It is necessary to maintain a lack of haste in this matter.

[Nwada001]

This is part of customers' right protection, and this should turn into a usual practice so that other casinos can learn. Some casinos endorse this practice just to delay the payout and force the player to play more and eventually lose the money back to the casino.

I like the move taken on this as long as it favours the customer especially with how many casino rules and policies has always stand with the casino. However, delay in withdrawal processing can't be taken to always be a deliberate art endorsed by casinos, sometimes these delays are out of technical issues which may be coinciding within the time of prompting for withdrawal.

If the delay in withdrawal is linked to a technical issue or as a result of users' account activity being suspected, I also support the casino delaying such withdrawal until investigation is completed and everything appears fine. It's better for the withdrawal to be delayed than for money to be lost, but in cases where the casinos do it on purpose, they should be fined for such action; that way, they will learn.

[Sandra_hakeem]

If they have proven that there's no suspicious activity done by their players, they should release it so that there won't be any burden on them.

But that's how business goes, there could be any other reason or that delaying tactic has worked for them for several times and that's why it became part of their process.

Correct. The delay by itself is a strategy they use to keep you more invested--- "For where your treasure is, there your heart will be also[/i]"

I think that the bible verse is inappropriate on this situation since it's related to gambling and that two can't be connected.
But I do see the point

Who are you to dictate what is, and what is not appropriate in my post?? Some of you just don't know your boundaries and it tells a lot about how you live. The message there was clear, even a blind person could see it.

It's insane because, like in some cases, they allow you the opportunity to place more bets throughout what's supposed to be the "probation period ", but they just don't allow you the right to make a withdrawal. It's all fun and games till, as it should, one incorruptible regulator steps up to intervene for the gamblers.

They do allow the withdrawal request but they don't allow it asap, they'll review, they'll delay or make reasoning if they don't have the intention to.

I can't really tell what you mean by "make reasoning'', but this isn't far from the quoted part of my post.

If the delay in withdrawal is linked to a technical issue or as a result of users' account activity being suspected, I also support the casino delaying such withdrawal until investigation is completed and everything appears fine. It's better for the withdrawal to be delayed than for money to be lost, but in cases where the casinos do it on purpose, they should be fined for such action; that way, they will learn.

The problem is, every big winner automatically becomes a suspect and is guilty until he's proven otherwise.