Casino Talks

Posted by: The Original Mary at November 9, 2000, 8:56 pm

Topic: Chargeback article on front page... Forum: Winner Online

I don't quite understand where the $35,000 in payouts comes from either, unless it's experience. Yes, the Price Waterhouse and other audits show a nice low hold percentage, but gamblers rarely play their bankroll through once. You can think of that 3% becoming 6% then 9% then 12%...bingo players approach 90% (of course, bingo has a high hold to start with.)

The 8% cut out of deposits up front from credit card processors is outrageous, especially after reading so many accounts of processing screwups on this board. Plus their fraud protections must be pretty bad if there's a 25% rate of chargebacks.

I remember reading that Cryptologic has only a 3% rate of chargebacks, which is comparable to the Vegas land casino rate of 4% defaults on markers. Cryptologic, as we all will recall, sends out a PIN by snail mail. I don't see how that changes a chargeback percentage (as opposed to out and out account theft), but they sure have nice numbers.

Other than asking for player patience, I don't understand why Joseph is writing about the chargebacks. There isn't anything honest players can do about chargebacks by dishonest players. The OPA will not knowingly aid any player that uses chargebacks to avoid having to pay losses.

It concerns me also that the Online Fraud site is a Pinnace site and this is not stated openly. I encourage Pinnace to be more upfront about that aspect of it. Ditto Bettorsworld.

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