Saturn Bingo Has Unusual Wagering Requirement
August 4, 2009
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Saturn Bingo is a brand of Saturn Gaming, which is an Internet gambling company based in Berkshire in the United Kingdom. It is powered by software from Real Time Gaming (RTG) and offers both online bingo and casino products. One of the clauses in its terms and conditions is that all deposits have a wagering requirement of 15x even if no bonus is availed on the deposit.
What this means is that if a player deposits $50 in Saturn Bingo and does not claim any bonus. He cannot withdraw his own money unless he wagers $750 at the online casino. This unusual wagering requirement highlights two important lessons for players in the online gaming industry. RTG acts purely as a software provider and exerts no administrative control on its licensees unlike other online gaming software providers. Therefore players need to be that much more careful when playing at RTG online casinos. The more important lesson is to read and understand the terms and conditions completely and thoroughly, something that new players ignore till they burn their fingers.
In their defense, Saturn Bingo has claimed that they have been upfront about this condition. It is clearly and unequivocally stated for all players to read. One player contacted Saturn Bingo through the Casinomeister portal asking whether this condition was for real or was there an error in stating it. He received an email reply from the CEO of the company, who identified himself as “James”, confirming the clause. The reply is being reproduced in full. “Wagering requirements on your cash deposit are primarily in place to protect our business from the high level of fraud directed toward online gaming sites, and from which no protection or accountability is accepted by either the issuing banks, e-wallet or credit card companies. As a business we need to have policies in place that limit our liability in relation to processing fraud, requiring player turnover is a procedure that in a small way helps us do that.”
In more straightforward language what this means is that players deposit funds using bogus credit cards or e-wallets. The financial services providers refuse to honor the deposits because they are bogus. If the player makes a bogus deposit and then withdraws it, the online casino has to take the loss. Wagering requirement on the deposit allows the online casino time to get the feedback from the financial services provider on whether the deposit is genuine or not.
There is further content in the reply from Saturn Bingo. It goes on to say that Saturn Bingo is a “long standing and respected player in online gaming”. If players do not accept this clause then Saturn Bingo is not the site for them. This clause will remain in the terms and conditions.
It is not that other online casinos do not face this problem, but they have evolved more reasonable ways of dealing with it. Most online casinos simply do not permit withdrawals till the financial services provider has confirmed the deposit. They do not impose wagering requirements on deposits unless a bonus has been availed.