Funds Withdrawal

[Preetham25]

Hi,
If a casino closes an account for some reason, will the withdrawal funds which the player had requested be given to the player...this is of course assuming that the player has no fraud case against him.

Thanks,
Preetham

[pinnit2015]

Usually, yes.

Why the closure and who's the casino?

[Afi4wins]

Any casino would only close a player's account when the casino's management has come across issues in that player's account. Could be due to a break of the rules, a breach of their terms, or simply due to RG (Responsible Gambling) or AML (Anti Money Laundering) rulings that all casinos need to comply and abide to.

You need to elaborate and give more details as to why your account was closed, otherwise no one can give relevant advice/s for you.

[Preetham25]

I had requested for a Withdrawal of funds from Betway  on Mar 13th. They requested for source of funds check for which I provided the bank statement and pay slips. The Operations team then asked me for proof of transactions which were deposited as Cash in my bank account. How can I show proof for cash deposits as they come from multiple sources...despite explaining everything they have closed my account. They even said that this is not a case of money laundering...that leaves out Responsible Gambling as a reason for which I assured them that I am well in control of my finances. Basically they have not given the clause that I have violated to close the account. I have initiated their Internal Complaints Procedure for which I am awaiting the result. Hope justice will be served!

Now, the question is will my funds be given to me now that the Account is closed?

[pinnit2015]

The fact they have closed your a/c given what they asked for should start the payment of o/s monies  -The UKGC etc rules are clear about this. Like Casumo they'll chance their arm with this.  Sounds like they've closed it because you haven't sent everything they want - it's irrelevant though, money's yours.

https://www.gamblingcommission.gov.uk/news-action-and-statistics/news/betway-to-pay-116m-for-failings-linked-to-vip-customers

Am sure the UKGC (should anyhow) like to know how they only ask for info at withdrawal stages/possible misinterpretation of rules etc given their tasty fine. 

[Preetham25]

Betway has released my funds and the amount got credited to my account today. The Dispute Manager sent his final review and said that my account will remain closed. That’s really disappointing...my entire deposits since Jul 2019 (that’s when I joined Betway) has been around INR 4000000 (approx 50000 pounds). That’s a low amount compared to customers who splurge thousands of pounds in a few days. I  atleast expected a warning...closing my Account is too harsh. I am beginning to wonder if this is being done to please UKGC as Betway was recently slapped with a fine for not checking customers’ funds. 

 

[pinnit2015]

They're probably clearing house and trying to reduce the risk so anyone who doesn;t send what they prescribe gets the hoof. 

Suppose as long as they don't do what casumo do (sorry Casumo, you suck) and withhold monies, it's fair enough tbh. 

[Flatzem]

1 hour ago, Preetham25 said:

Betway has released my funds and the amount got credited to my account today. The Dispute Manager sent his final review and said that my account will remain closed. That’s really disappointing...my entire deposits since Jul 2019 (that’s when I joined Betway) has been around INR 4000000 (approx 50000 pounds). That’s a low amount compared to customers who splurge thousands of pounds in a few days. I  atleast expected a warning...closing my Account is too harsh. I am beginning to wonder if this is being done to please UKGC as Betway was recently slapped with a fine for not checking customers’ funds. 

 

did you pump feed all that money into slots?

[ValDes]

16 hours ago, Preetham25 said:

Betway has released my funds and the amount got credited to my account today. The Dispute Manager sent his final review and said that my account will remain closed. That’s really disappointing...my entire deposits since Jul 2019 (that’s when I joined Betway) has been around INR 4000000 (approx 50000 pounds). That’s a low amount compared to customers who splurge thousands of pounds in a few days. I  atleast expected a warning...closing my Account is too harsh. I am beginning to wonder if this is being done to please UKGC as Betway was recently slapped with a fine for not checking customers’ funds. 

 

Yeah, most probably that's the reason why such a 'harsh' approach has been adopted and applied in your particular case...