Reverse Withdrawals in Online Casinos
Clarissa Kane | Published on May 4, 2012
When a withdrawal request is put in, the money is no longer accessible to the player for betting. The player is told that, should he/she wish to stop the withdrawal request throughout this period, their money will be instantly placed back in their account to be used for betting. Requesting a cancellation of a withdrawal is called a reverse withdrawal in online casino terminology.
Online casinos have everything to gain by permitting this option. Should a player not choose it, then their money will be sent to them as requested in due time. This money belongs to the player so he/she is perfectly entitled to withdraw it. Nonetheless, should a player reverse the withdrawal, then this money will go back into play, meaning there is every chance that the player might lose it whilst betting in the casino.
Reverse withdrawal options offered by online casinos ought to be approached with caution. A good player will not make a withdrawal request hastily. He/she will examine the money that he/she needs for betting in the near future, and keep that quantity in his/her casino account and only withdraw the excess. Such a player would never need to make a reverse withdrawal unless he/she had entered the incorrect amount in error. Only players that are not disciplined with their betting habits would be lured into the trap of making a reverse withdrawal. These players do not use a plan to calculate the amount they wish to bet, and might be seduced into using their winnings to bet again.
Several online casinos have realised that reverse withdrawals are not good for promoting responsible gaming and are getting rid of it voluntarily, or reducing the period of time in which a player can request one. Nonetheless, some internet casinos are providing bonuses to players if they make a reverse withdrawal request. Should the bonus be 40%, and a player makes a request for a reverse withdrawal of $100.00, then he/she will instantly get $140.00 to bet with. But, this bonus can not be cashed and will be removed by the casino once the betting requirements are satisfied. Also, the player's money is now committed to a new set of betting requirements.
Every online casino has to be licensed by a regulatory authority in its' jurisdiction. This regulatory authority stipulates rules that the online casino is bound to operate by. These authorities ought to forbid the online casinos they license from allowing reverse withdrawals and any bonuses on them. If players have withdrawn an excess amount of money in error, then they can rectify this mistake by making a new deposit. A reverse withdrawal is not necessary for this purpose.
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