For quite some time now we have taken issue with the restrictions around withdrawals that Jumpman Gaming sites have put in place but it would seem that these have all changed thanks to an investigation carried out by the Competitions and Marketing Authority (CMA).
On Wednesday 29th August 2018, the CMA published a press release naming both Jumpman Gaming and Progress Play as two firms that have formally agreed to remove the terms and conditions that stopped players withdrawing their own money in one go. At first glance we could see that there has been a change in the daily, weekly and monthly withdrawal restrictions but this does not appear to have been as a result of the advice by the CMA.
Withdrawal Restrictions At Jumpman Gaming
In May of this year, Jumpman increased their pending period on withdrawals to 72 hours, this is still in place on the T&C’s. However, what we hadn’t noticed was that at the same time, was the increase in the daily, weekly and monthly withdrawal amounts.
These are now:
- Daily – £5,000
- Weekly – £35,000
- Monthly – £100,000
As part of the CMA investigation it was found that both firms made players withdraw in installments over an extended period which, as we all know, often leads to withdrawals being cancelled, the cash flowed back into your account and subsequently spent.
Another change comes around dormant accounts. Both firms previously had T&C’s that meant they were able to confiscate money from dormant accounts. This will no longer be the case either.
Do’s And Don’ts For Gambling Firms
The CMA have published a list of Do’s and Don’ts which can be found here but some of the don’st that Jumpman Gaming fell foul of are:
- Placing maximum limits on the amounts that can be withdrawn
- Confiscate customer funds if ID hasn’t been provided within a specific time period.
We’re all for fairer withdrawals for players and look forward to seeing the update T&C’s from Jumpman Gaming. For a full list of sites under Jumpman Gaming, click here.