Magicred lost 6500 despite setting a loss/wager limit of 200 euro a week

[ipandavi]

Hi!

So I was gambling and deposited 5x, with a total of 1425,00 euro. I managed to turn from my last deposit (500,00 euro) into around 6500 euro. As it was a new casino that I signed up (Magicred) I had to verify my documents. I sent in my documents and it was taking a while, so on a Friday/Saturday evening I was a bit bored and wanted to gamble a few bucks. Magicred casino had no option to set any loss or wager limit by yourself, only by contacting customer service which is stated in their responsible gambling FAQ/Terms&C (you could only set deposit limit by yourself). So okey I contacted the customer service and asked "Hey could you set a Loss/wager limit of 200 euro" On that question I got asked "do you want it daily, weekly or monthly?" I answered weekly and it was "set" so I asked another question and then decided to gamble. I lost like 1-2x 100 euro bets on roulette and pressed a big bet as a joke. To my surprise my bet had been accepted and when the round was over I lost the money. I was a bit confused and stressed and tried to get my money back which resulted in me losing all of the 6500,00 euro. 

So I tried contacting them but because their CS is open till 12 only, I was to late usually contacting them. So when I was able to get hold of a CSR agent, I filled a complain as I specifically asked for a limit. I asked actually for a Loss + wager limit, but in any case with my evidence I couldn't go lower than 6300 euro. They sent me an email telling me they shut down my account for further investigation? (which is kinda strange) and they would be in touch with me in 5-7 working days. I contacted everyday the CS as it has been 10-11 working days already with no answer. The CSR employee explained me that the limit wasn't set unfortunately and that I could set it myself? this isn't correct as their T&C/Responsible gambling area explains that you HAVE TOO contact the CS to set a loss and or wagering limit!

I heard about the loss limit not counting profits, but I asked for a loss/wager limit. The customer service employee did not ask me anything apart from or I wanted the limit daily, weekly or monthly. I assumed he set both of the limits as he told me it had been set after I said weekly. I as well did my research at magicred and they explained me that their loss limit kicks in no matter what and no not only take deposits in consideration. I specifically asked 2 employees to ask it for me from higher up and explain it to me clear to have no misunderstandings. They both confirmed I was supposed to have 6300 left over basically, in the case of a loss limit. I asked for a wager limit as wells so under any circumstances I wasn't supposed to lose any amount over 200 euro!. as well I was supposed to be stopped for sure than at 1225 or so as I deposited 1425? so it all doesn't make any sense to me.

I think we all can state from this evidence that I have all rights to receive a refund of 6300,00 euro? (6500 was lost, but as I asked for a 200 limit it's 6300 cause I lost fairly 200).

 

[anonymousapple]

Seems to be a problem on their side. Good for you that you have chat logs to tell the story. However, be prepared mentally to fight a potentially lengthy battle because they will do all they can to not pay. In the case of their system malfunctioning, it does seem that they should refund you. From where I am right now (UK), if limits do not work as intended or self exclusion malfunctions, the UKGC has set that the bookies should refund the player. I don't know where you're from but the regulations shouldn't be as tight so do check how to proceed if the 'escalation' turns out against your favor (normally its some third party mediator/dispute service like IBAS or eCOGRA). If that does not rule in your favor or the casino is uncooperative, your last resort would be a civil claim.

Best of luck

 

[geggs1]

Did you bet $6300 on a single spin and lose? What did you do, like spin $6300 on Red/Black? What happens if you had of doubled your money? Would you be on here looking for advice or would you be in cash out land?

 

[vanHooff]

Hi OP :  personally I feel that that one should carry his/her losses and have little respect for people who try to reclaim just because you can.

To all people of the forum: please note that I have read hundreds of these cases on forums.
I estimate that half of those cases are scammers who try to pressure casinos by posting stories on gambling forums.
Not saying that OP is one of those.

I know however that there are extensive customer protection rules, even in gambling, so you might have a case.

First try to resolve this with the casino yourself.
If that does not work, contact an 'ADR' (alternate dispute resolution) and see what they can do for you.
Three ADRs are: thepogg.com casinomeister.com  and askgamblers.com  
I would vouch for the first two of these three.

Word of advice: software measures from casinos for responsible gambling only work a tiny little bit. 

 

[ipandavi]

@anonymousappleThanks! I'm located in the Netherlands, so I don't know to be honest how UKGC advices/tells bookies to deal with those kinda cases. But you can agree with me it was their fault correct? as I couldn't set any of those limits and the CS didn't set it or the system malfunctioned. I asked for 2 limits and even if they only set a loss limit, according their explanation I still wasn't allowed to go under 6300.

I think it was a malfunction to be honest, as I even lost my initial deposits as well.

 

[ipandavi]

@geggs1 No it went this way:

I decided a fair amount to gamble on a Friday/Saturday would been 200,00 euro. So that's why I set that limit for a week so I couldn't lose more and still be able to have a few spins. As I reached 6300,00 I was like "Oh I hit my limit" and was "Curious"/ triggered to play more. So I pressed randomly on random numbers chips of 25 euros. I can't remember the amount but it was a bet between 300-1000 euro on random numbers. As the time to bet ran out it stated that my bet was accepted and the amount was deducted. I thought it will cancel it afterwards or block me or so, but when the round finished I lost the amount and my balance was down. I decided to place another spin to get my money back and as well see or it still worked? and as you probably expect, it accepted my bet and it was another loss. 

I didn't bet 6500 in one bet as that is to much for me to bet. I wouldn't been in cash out land as I did not have any expectations/need to bet that much as I wanted to use the money to buy a watch. I

@vanHooffThanks for your reply. I understand where you coming from but I set upfront limits to avoid this situation. I couldn't do it myself, as their website doesn't offer the option to do it yourself, and tells you to contact them. If I gambled 6500 euro away without setting any limits it would been my own absolute fault, and I would've taken it without any problems. I lost several times big amounts by not setting limits (I lost the day afterwards over 17k euro) and didn't bitch at all. I was sure a bit sore for 2 days but I got over it and knew it was my own dumb fault. I never asked for a refund or complained at any casino as I understand the consequences of gambling. but when something malfunctions then I do have all the rights to complain about it. 

 

[ipandavi]

Guys update:

Magicred offered me "goodwill" refund of 1905 euro. I do not agree with the amount? I deposited around 1500/2000 at Magicred that week (I created my account that week over there). how should I handle this? I feel like if I tell them I do not agree will be like "Oh whatever you don't get anything" but in the meanwhile I feel that I have all the rights to receive 6300 euro instead of 1905 euro.

 

[tsech91]

Man you got in trouble for nothing, just wait for withdrawal approve. Your curiosity put you in this situation, you should just stop immediately no need to place bet and then rebet again.. Any way if you have time just try to get your full amount back also if they have malta license info them that you Wil get in touch with the hold license. But it will take a while some time over 4-6 months 

 

[dublinjay]

Did you bet $6300 on a single spin and lose? What did you do, like spin $6300 on Red/Black? What happens if you had of doubled your money? Would you be on here looking for advice or would you be in cash out land?

Bet should have been rejected even if he had placed one bet of $6300 . Atleast thats the case with my experience on RIZK, Leovegas . 

There is a reason why responsible gambling tools are available , we set the limits because its too easy to get carried away when we are playing. 

The limit he set should have limited him , period. 

 

[ipandavi]

@tsech91I know! the worst part was that I won plenty of money that week overall so I did not need the money directly, but I'm very inpatient and was a bit annoyed of waiting for my withdrawal/verification. Regret is always afterwards they say right. I do have time and feel they trying to just avoid paying 6300 euro by trying to offer a goodwill. I'm even willing to start law suits over the remaining 4400,00 euro. it's for me not the money but the matter of fact and my rights.

 

[ressivv]

Nvm idc

 

[ipandavi]

@dublinjay It was supposed to even reject 1 euro bet if it went under 6300 euro balance, especially after they explained and confirmed that for the loss limit it hasn't to do with my winnings or deposits. The limit was set over the balance I had at the moment which was 6500 euro. I as well asked for a wager limit so there were 2 limits that were supposed to save me from massive losses. 

 

[Nüßchen]

I have never been in such a situation...but i think it's clearly the casino has to pay the 6k back.

Both sides can argue who made mistakes...but since the casino worker who said your limit is activated, I think the casino has no chance to not pay you the money back. Good you have everything documented.

I think they will try with the small amount of 1.9k to end the issue, because they know they probably have to pay the 6k back to you.

Good luck, mate

 

[ipandavi]

@ressivvI do take responsibilities, but what are the limits for if they don't work? If I knew they wouldn't work I wouldn't even logged into my account or gamble a single penny till I received my withdrawal. I lost plenty of times amounts over 5k and even other 15k euros in matters of minutes/hours. I never complained at all because I knew I gambled that away and could've prevented myself from doing that by taking measurements. I even canceled withdrawals and gambled them aways because I didn't set measurements. I took all the time to contact the customer service to set the limits to prevent this from happening? How can you blame me in the end for it?

I didn't had any deposit limit so this is not my case. I want to correct you at the "Setting limits by yourself" I couldn't set myself any limits at Magicred as they didn't offer it for players to set it themself. I had NO OTHER OPTION to contact their customer service to set limits for me? If you look at the pictures attached there's a picture of their responsible gambling section explaining to set a loss and or wager limit you have to contact their customer service! 

I knew my limits, and asked them to set them for me to prevent myself and them a headache like this.

I do want help. But I feel it's their fault in every aspect in this case. It's not that I gambled straight away 6500 without taking any measurements to prevent this, and starting bitching to try to get my money back.

 

[dirtystack]

I hope you end up getting the majority of your balance back.

You really should have stopped and sought assistance after realising they had accepted the first bet you placed after exceeding the 200 limit, rather then playing with the rest of the balance as it is kind of hard to justify why you did that.
But that’s easy to say in hindsight.

I’d accept a goodwill gesture somewhere around 6300-200-the amount you bet in the first spin after exceeding the limit-some small amount for carrying on gambling.

4.5-5k 

just stay calm and civil when dealing with them no matter what you are personally feeling. Any negative language/tone will cut short any communication.
 

 

[ipandavi]

@Nüßchen Thanks for your reply! I don't wish anyone this situation, as it takes very long and is kinda frustrating. Yeah it's their word against mine, but I do have evidence to back up my proof. Since they responsible gambling area tells you to contact their customer service to set a limit, and their employee told me the limit has been set makes me feel they/ the customer service are responsible for this problem.

 

[tsech91]

@tsech91I know! the worst part was that I won plenty of money that week overall so I did not need the money directly, but I'm very inpatient and was a bit annoyed of waiting for my withdrawal/verification. Regret is always afterwards they say right. I do have time and feel they trying to just avoid paying 6300 euro by trying to offer a goodwill. I'm even willing to start law suits over the remaining 4400,00 euro. it's for me not the money but the matter of fact and my rights.

Totally understand, hope casino understands and gives you back! And when it comes the set limits and responsible gambling,it is a serious topic, they have to think twice to come across against this. So yes man go all the way, and replay here so we also see what casino is that, you will protect many players in this community. 

 

[ipandavi]

@dirtystack I hope so as well! thanks you! Yeah to be honest maybe that was the most responsible thing to do after the limit didn't work and I noticed this. But we all can probably relate to the moment of excitement,anger and adrenaline at the point of gambling especially with bigger amounts which sometimes makes you forget to think and handle different but obviously regret is always afterwards. 

The thing is I had 6500 euro balance, and the weekly allowance was 200 euro's. so that makes it 6300 which I think is reasonable, I don't see to be honest any reason to accept not even 1/3 part of the 6300 or take anything lower than 6000. If they employees or system functioned properly both parties saved from both sides a lot of time and headaches.  My first 2 spins were 100 each if I remember it correctly. so at that point I was supposed to bet at 6300.

I'm going to stay calm as I know my rights, and out of experience I learned that by responding aggressively or using bad language sets you even further away from them helping you. Although if I don't get my 6300,00 euro I'm willing to take them to any court just for the matter of the fact that it was their fault. I care less about the money, but more about the fact that they made mistakes.

 

[OnlyASpin]

If there offering to refund deposits they know there in the wrong so keep going for the max amount