Casino requirements 1x wager deposit.

[ryans_slots]

Anyone know the real reason for casinos asking players to '1x' wager your deposit before making a withdrawal? I basically play at Casumo a lot I deposit via skrill 1-Tap mainly, and today I deposited £1000 (instead of £100 as for the platinum chests you only need to deposit £100 I've done it twice in my life, mistakes happen however I don't think Casumo were happy with me today :$)..

the point I'm making is how does it even come close to money laundering when you've put dirt money into a casino, then they want you to '1'x wager the deposit for e.g you wager £1000 gbp and end result is £750 it's now according to them 'clean' as you've met the '1x' wagering requirements. which is far worse than accidentally depositing the wrong amounts.

what would I achieve by depositing £1000 and withdrawing? I know it prob would Cost Casumo  a small fee to send me back to my payment method, and they are extremely busy but still...

so by actually doing the 1'x' wagering now the funds are 'laundered?

http://www.gamblingcommission.gov.uk/for-gambling-businesses/Compliance/General-compliance/AML/How-to-comply/Casinos-Prevention-of-money-laundering.aspx

is the '1x wagering bullshit for casinos to try make more £/$' or is there an actual law on it? I don't have a problem with 1x wagering my deposits EVER, just today I didn't want to deposit £1000 and on the skrill 1-TAP you can't cancel once you enter the amount.

Thoughts???????

 

[Slotplayer]

I guess that it is laundered because you can show income from a legitimate source.

You could deposit £1,000 from illegal sources (say money from drugs), deposit it and then withdraw and you suddenly have £1,000 from Casumo which for the Government / tax man is good enough income. 

 

[Bendelonge]

Yeah pretty much I’d guess the same. For all to see you may have had a massive hit and cashed out. I would guess that if the government wanted to they could request transactions of your play to prove it but they’d probably need a warrant for such as it’s internal dealing of a company. Which would be hassle and probably not worth their time for be most part. Just a guess to be honest. But if it’s watered at least once then the casinos have plausible deniability as they could always argue ... well they put money in played with it a substantial amount and then cashed out after winning or losing a bit. All standard stuff from the outside 

 

[Nosound113]

I actually deposited 1k extra euro by mistake and explained how it happened and they sent my money back, no problemos however they said 1x wager before withdrawal at first..

 

[Eazycasinowins]

The only reason you had to 1x wager is cause of the promo they have going at the moment, with the chest as people are trying to abuse it by depositing 100 getting the chest then withdrawing, every single day.