There's a common promotion in meat space casinos to rebate a day's losses up to some limit, and that can be lucrative for an advantage player using a high-volatility machine despite resembling a bonus with a negative win cap. But perhaps I'm misunderstanding how a win cap is applied.
Win caps are applied when playing with bonuses. This is a bonus restriction, similar to ‘30x wagering on bonus plus deposit’ or ‘maximum bet £5’. The idea is simple: you cannot win more than a predefined amount.
For example, you deposit £100 and receive a £100 bonus. If the win cap is £300, after completing the wagering requirements you cannot withdraw more than that amount. Even if you win £1,000, your payout gets capped at £300.
What you’re describing as loss reimbursement is usually called cashback, at least in online gambling. Cashback can also be used in +EV strategies under the right conditions.
Ah. I would think that not paying a player's full winnings would violate the regulations in any regulated casino. I thought you meant the bonus would be withheld if the player's result exceeded some cap. If they are trying to withhold the amount won, I'd scream bloody murder, to management, then to regulators, then to the public and eventually to legislators.
If you live in the UK, then yes, absolutely start screaming bloody murder. That's partly why I wrote this post.
Here's an example from a UKGC-licensed site: 'Max conversion: 3 times the bonus amount.' They use a different term here (looks like I might need to edit the post to mention this), but the principle is the same. This happens frequently in offshore casinos too. Either way, thanks for the feedback.
What's a win cap?
There's a common promotion in meat space casinos to rebate a day's losses up to some limit, and that can be lucrative for an advantage player using a high-volatility machine despite resembling a bonus with a negative win cap. But perhaps I'm misunderstanding how a win cap is applied.
Win caps are applied when playing with bonuses. This is a bonus restriction, similar to ‘30x wagering on bonus plus deposit’ or ‘maximum bet £5’. The idea is simple: you cannot win more than a predefined amount.
For example, you deposit £100 and receive a £100 bonus. If the win cap is £300, after completing the wagering requirements you cannot withdraw more than that amount. Even if you win £1,000, your payout gets capped at £300.
What you’re describing as loss reimbursement is usually called cashback, at least in online gambling. Cashback can also be used in +EV strategies under the right conditions.
Ah. I would think that not paying a player's full winnings would violate the regulations in any regulated casino. I thought you meant the bonus would be withheld if the player's result exceeded some cap. If they are trying to withhold the amount won, I'd scream bloody murder, to management, then to regulators, then to the public and eventually to legislators.
If you live in the UK, then yes, absolutely start screaming bloody murder. That's partly why I wrote this post.
Here's an example from a UKGC-licensed site: 'Max conversion: 3 times the bonus amount.' They use a different term here (looks like I might need to edit the post to mention this), but the principle is the same. This happens frequently in offshore casinos too. Either way, thanks for the feedback.