Casino Withdrawal Request Cancellation BonusBy: Ryan Alders, Thursday January 28th 2010
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Some online casinos have recently introduced a new type of bonus that bears discussion. Whatever name it may go by, the purpose of this bonus is to encourage players to cancel withdrawal requests.
In order to understand the bonus a brief recap on cancellation of withdrawal requests will help. When players want to withdraw funds from their online casino accounts they put in a withdrawal request at the cashier section of the casino. Usually there is a processing time involved before the withdrawal request is given effect. Meanwhile the player cannot use the funds for wagering. The processing time may range from 24 hours to 48 hours. During this period players are allowed to cancel the withdrawal request. This process is also known as reverse withdrawal. Once a reverse withdrawal request is made the funds are unlocked and the player can use them for wagering. The original withdrawal request is nullified.
Online casinos obviously would desire that players cancel withdrawal requests. If those funds lie in the player's casino account the player would use them for wagering. The more the players wager the more profits the online casino stands to make because all casino games have a house edge. But players routinely do not make reverse withdrawal requests. They withdraw funds only when they need to. The reverse withdrawal usually comes into play when the player has received a big payout. The player initially requests withdrawal of the entire amount because he wants to have the cash in hand. But he feels that since he has won a lot he deserves to splurge a part of it in extra wagering. The withdrawal request cancellation bonus aims to capture this temptation and tilt it in favor of the online casino. They offer the player a bonus which is a substantial percent of the reverse withdrawal. Suppose this percent is 50%. If the player makes a reverse withdrawal of $100 then he will have $150 to play with without making any deposit.
The online casinos of the Rushmore group offer this bonus. These online casinos are Rushmore Casino, Cherry Red Casino and Slots Oasis Casino. The bonus is called Winner's Bonus at these online casinos and is 40% of the reverse withdrawal amount. The bonus has certain terms and conditions, which are described below. The Winner's Bonus must be redeemed immediately after canceling a pending withdrawal request and before wagering on any games or making any new deposits. The Winner's Bonus is a play bonus. This means that after the wagering requirements are complete only the winnings can be cashed and not the bonus itself. Until the wagering requirements are complete the player cannot request a new withdrawal or make a new deposit. At the Rushmore group online casinos the wagering requirements are 20 times the bonus and the amount of the reverse withdrawal. Wagers on Blackjack, Video Poker, or Multi Hand Poker will contribute one third of their original value towards wagering requirements. Wagers on Roulette, Craps, Baccarat, and Pai Gow Poker not only do not count towards wagering requirements but will also void all winnings generated from this promotion.
Reverse withdrawals is not something players must request casually. The only time players should really be making a reverse withdrawal is when they have made the withdrawal request in error. Merely the availability of this bonus does not justify a reverse withdrawal request. However if a reverse withdrawal request has to be made and the bonus is available then it can be redeemed.
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