spela.com suddenly casino introduced 2% withdrawl fee

[PunjabiMC]

Hi all, 

Ive been playing around online casinos for a very long time on different sites.

Last year(dec 2020) i won about 90k euro on casino spela.com(MGA licensed), luckily after 2 weeks of " research" they payed me out. All in 2200euro batches, max 3 per week.

So it took hem about 14 weeks!! to pay all my winnings. But fine they payed me.

Today i deposited 400 to gamble on spela, so i played and won 5K euro. When i wanted to payout i was shocked, all the payouts were now 2% fee'ed.(the 90k was payed out fee free). I asked support and they told me its new.

What a BS this is, so i have to pay like 100e FEE in order to cash out 5k??? Im VIP status but i dont really feel like im VIP when they charge me 2% fee on all my withdrawls.

Please be aware, dont play on this spela.com site to get a nice " suprise" of getting all your winnings 2% fee'ed.

I closed my account there, enough other sites to make fun on with alot les FEE.

Happy gambling all!

 

[blist_ger]

Hey PunjabiMC,

i understand your frustration that you were unsatisfied, but have you tried to view the actions from the POV of the casino?

-Every withdrawal into a different country has a transaction fee for the casino, which basically lowers their net earnings

-For not interrupting the cash flow and being unable to pay taxes/morgage/fix costs or licence fees to game providers, they divide huge wins into batches (safety measurement for bankruptcy)

Overall i think it's a great action to increase the withdrawal fee, instead of lowering the game RTP for players. Knowing the withdrawal fee, i'd just let the 1000€ sit in the account for another day, than withdrawing it and depositing it the next day again. I'm just talking from a business management POV, as a casino player myself, i'd also prefer the casino taking all the costs and me taking home most the earnings. 

(I am not part of spela.com, or any other online or landbase casino, nor somewhat close to being professionally active in the casino industrie)

 

[dublinjay]

Hey PunjabiMC,

i understand your frustration that you were unsatisfied, but have you tried to view the actions from the POV of the casino?

-Every withdrawal into a different country has a transaction fee for the casino, which basically lowers their net earnings

-For not interrupting the cash flow and being unable to pay taxes/morgage/fix costs or licence fees to game providers, they divide huge wins into batches (safety measurement for bankruptcy)

Overall i think it's a great action to increase the withdrawal fee, instead of lowering the game RTP for players. Knowing the withdrawal fee, i'd just let the 1000€ sit in the account for another day, than withdrawing it and depositing it the next day again. I'm just talking from a business management POV, as a casino player myself, i'd also prefer the casino taking all the costs and me taking home most the earnings. 

(I am not part of spela.com, or any other online or landbase casino, nor somewhat close to being professionally active in the casino industrie) 

I agree what you say . But why in the world  anybody should be worrying about casinos paying bills ? Beleive me , their house edge is enough to pay all their bills. 

And about leaving 1000 euros in casino account to avoid withdrawal fee , I have no words to say . Its 2020 and era of instant withdrawals , if casinos cannot run their business properly surely they will have to close their doors . 

I always play at RIZK and leovegas using my VISA card . With RIZK , after clicking the withdrawal , i open my bank app and see my money straightaway. Leovegas takes like 5 minutes and the money is my bank. 

 

[blist_ger]

I absolutely, without any other opinion, agree to your points being made.

My point, or objective, was to raise awareness - because smaller casinos may struggle giving you the same perks, as larger/older casinos can do. Once you've established all these features that (you now expect in a business), its near impossible to start a new casino. Once the casinos run out of competition, they can basically change the rules however they like and the player has to live with it.

Same reason Amazon set the bar so high with his 1-day delivery, without any additional pay. New companies can't compete and therefore Amazon will make the rules, if you like 'em or not.

So basically: "but why in the world anybody should be worrying about casinos paying bills" -> because with them surviving, the competition within the casino field, benefits the player in more/better bonuses/better service/in general better Terms and Conditions

 

[dublinjay]

I agree with the points about limited abilities of small casinos . I really think that the things like 2 percent withdrawal fees are not going to help the casino's development in anyway. Its only going to harm the casino as its a huge turn off for the players , just like OP said he will never play at the casino again . 

I know some casinos have a fixed withdrawal charge which is not too bad imo but taking percentage of my winnings is just too evil for me. 

 

[ryans_slots]

I absolutely, without any other opinion, agree to your points being made.

My point, or objective, was to raise awareness - because smaller casinos may struggle giving you the same perks, as larger/older casinos can do. Once you've established all these features that (you now expect in a business), its near impossible to start a new casino. Once the casinos run out of competition, they can basically change the rules however they like and the player has to live with it.

Same reason Amazon set the bar so high with his 1-day delivery, without any additional pay. New companies can't compete and therefore Amazon will make the rules, if you like 'em or not.

So basically: "but why in the world anybody should be worrying about casinos paying bills" -> because with them surviving, the competition within the casino field, benefits the player in more/better bonuses/better service/in general better Terms and Conditions

it shouldn't be 2% flat fee it should be something what like videoslots offer ----> first withdrawal in the day free then 2.50 euro for any other withdrawals in the same day.

 

[PunjabiMC]

Hey PunjabiMC,

i understand your frustration that you were unsatisfied, but have you tried to view the actions from the POV of the casino?

-Every withdrawal into a different country has a transaction fee for the casino, which basically lowers their net earnings

-For not interrupting the cash flow and being unable to pay taxes/morgage/fix costs or licence fees to game providers, they divide huge wins into batches (safety measurement for bankruptcy)

Overall i think it's a great action to increase the withdrawal fee, instead of lowering the game RTP for players. Knowing the withdrawal fee, i'd just let the 1000€ sit in the account for another day, than withdrawing it and depositing it the next day again. I'm just talking from a business management POV, as a casino player myself, i'd also prefer the casino taking all the costs and me taking home most the earnings. 

(I am not part of spela.com, or any other online or landbase casino, nor somewhat close to being professionally active in the casino industrie)

Hi there, thanks for your serious reply.

Let me remind you spela is one of a list of casinos the Genesis Global Limited guys own, they have more then 20 online casinos, lisenced since 2015.

( https://www.authorisation.mga.org.mt/verification.aspx?lang=EN&company=f85625a1-7294-4ec6-9f22-9a205c5418df&details=1 )

That is not a small busniness. They make millions for over 5 years in more then 20 casinos. Last year withdrawl was fee free. In my eyes they just wanna grab more money by making all withdrawls 2% fee, what goes directly in the pocket of the owners.

If they would charge 2,5e for withdrawl would be perfectly fine, but they scare all the highrollers away who dont wanna pay 2% on all deposits + profit when going to withdrawl.

Its up to them in the end, but i dont think this is a very smart desicion in the long run.

Just wanna prevent other highrollers from getting disappointed when cashing out, they get the ' suprise ' of leaving 2% for the big boss.

Happy gambling all!

 

[lockerman26]

[SIZE=10pt]Guys, stop playing and believe in the small bonuses pushed by online gambling. It's a real waste of time.[/SIZE]

 

[BoracicLint]

All Genesis casinos now do this.I won £405 a week or 2 ago at Casino Cruise and lost £8 in withdrawal fees through that 2% rule and I am never going to use Genesis casino group again either. As another poster said,the house edge in the games is enough to keep the casinos in profit and having a 2% withdrawal fee is more likely to kill your business than help it grow.