For many years now we have always questioned some of the rules around withdrawals from various bingo sites; you’ll find many examples in multiple articles on our site. For a long time we believed the Cozy Games product to be the worse. The reasons were many (high wagering requirements, minimum withdrawal amount of £50 and of course, the previous low cap on withdrawals).
The Competition and Markets Authority (CMA) seem to be catching up with the issues that we have been raising for many a year. There is an investigation underway around the restrictions put in the way of players withdrawing their money from online gambling accounts.
CMA Writes To Gambling Companies
The CMA has written to a number of online gambling companies around the terms and conditions that may be unfair and place obstacles in the way of withdrawals.
In the article on the Gambling Commission website [read more here] they highlight just some of the concerns that the CMA has.
These include, but are not restricted to:
- The withdrawal limits that some companies place on daily, weekly and monthly withdrawals that are low.
- Deadlines that are short on the time that a player has to verify their identity as a condition of withdrawing funds.
- ‘Dormancy’ terms that have allowed operators to remove funds after a set period of inactivity.
Any Operators Falling Foul?
For us, the £100 minimum wager before withdrawal has always been a bugbear on the 15 Network and Wheel of Slots Network but are they likely to be told to remove this?
They are also coming up short on the deadline for ID. Read point 26 in their T&C’s:
26. First withdrawals will remain pending on your account for a minimum of 48 hours. If ID documents have not been received your withdrawal will remain pending on your account. The maximum pending period is 7 days. Withdrawals which remain pending for over 7 days will be cancelled and placed back into your real account balance. The withdrawal will then need to be re-requested.
The 15 Network could be falling foul of the Dormancy issue with point 39 in their T&C’s:
39. If you do not log onto your account for a period of 180 days, any balance in your account will be forfeited to the Company without further notice. We will attempt to notify you by email prior to this taking effect.
Cozy Games, up until recently, had withdrawal limits of £300 per week or 2x the total value of the deposits made in the four weeks prior to the withdrawal request. A check on their T&C’s sees that there is now no limit! Section 6.2c states
Withdrawal limits: Players are allowed to withdraw the complete amount available as withdrawable cash.
Are there any operators that you think are likely to face enforcement action from the CMA?