An online casino operating under the iGaming Ontario framework has been find by the AGCO for offering an unfair bonus.
We are not in favour of online casinos being fined, but we were impressed when Canada’s AGCO spotted a clearly unfair bonus and issued a fine of C$54,000.
The bonus was a 100% deposit match worth up to C$2,000 with only a 7-day expiry.
So far, so good if you can bet C$20.00 to C$50.00 per spin. However, combining the low expiry, the high bonus amount, and a maximum bet of C$5.00 while the bonus is active, we can see why the Alcohol and Gaming Commission of Ontario (AGCO) decided to take action.
Furthermore, with a 35x wagering requirement, it requires a substantial C$70,000 worth of wagering to meet the requirement. For the AGCO, there are multiple issues with this bonus offer, including the risk of problem gambling if someone were to attempt to play through this bonus’s wagering requirement.
It is something we often encounter at Casinoplusbonus as we conduct reviews on our small but unique selection of casinos mentioned on our iGaming portal. The bonus we explained above comes down to the good old bonus trap.
At the same time, we don’t know the whole story behind the decision to advertise such a large bonus. However, we can see exactly why the AGCO decided to fine Casino Days C$54,000.
In a domestically regulated market, it’s tough to bend the rules, and Casino Days has just learned that lesson the hard way.
With that being said, I don’t believe Casino Days was trying to persuade players to deposit C$2,000 to claim a bonus. Additionally, I am not trying to defend the casino for making what I consider a poor decision, especially in a regulated iGaming market.
Source: The content of this news report is sourced from the AGCO itself. You can find out more for yourself via the Deceptive and High-Risk Bonus Offer casino news report.
Was It Really Deception?
I’m just speculating here, but in Casino Day’s defence, they know most experienced players who have that kind of money to commit to online gambling would clearly know they would need to spend hours upon hours of their time to convert the bonus amount.
However, that just adds more wood to the fire for the AGCO. Not only is the bonus amount too high to realistically play through the wagering requirements to convert to real money, but for those who may claim it, it would also encourage them to gamble for hours in an attempt to convert the bonus into real money.
As a result, the bonus encourages what most domestic licensing authorities fear the most, and that is too much time gambling online, which in turn risks gambling addiction. We could argue for and against the bonus. More than anything, the casino is just using what we would describe as loud words to gain player attention. When you consider the minimum deposit to claim the Casino Days bonus was just $10.00, budget players couldn’t care less about the C$2,000 maximum bonus amount.
The crux of the matter: Although it probably wasn’t deception and instead an honest mistake trying to attract those with lower budgets using an age-old advertising trick, in a domestically licensed online casino market where reducing problem gaming is a focal point, Casino Days slipped on a banana skin here.
Casinoplusbonus Opinon
To be fair, the ‘Was It Really Deception’ by and large sums up my personal opinion of what really happened with the Casino Day bonus offer. Therefore, your next question might be about the authority I have to express my personal views on the matter in the section above.
From my experience working at a cryptocurrency online casino and attending their weekly virtual acquisition meetings, I’ve found that 80% of FTDs (First Time Deposits) claiming the welcome bonus are worth under $100.
Now, at that casino, the first deposit is worth a 100% deposit match up to 1 BTC. Now think about it, how much is 1 BTC? Depending on the current market value, it could be anything between US$35,000 to US$110,000. Either way, that’s one monumental deposit match.
Here’s the kicker. The maximum bonus bet is $10 USDT or its equivalent in currency. The bonus export, like Casino Day, is 7 days. It’s the same situation.
Why Offer the 100% Deposit Match up to 1 BTC?
It just looks good. That’s all there is to it. Even though players can’t afford to claim a bonus that high, my view is that, due to being bombarded with advertisements all our lives, some people just have a natural tendency to gravitate towards online casinos that offer the high bonus offers, even they cannot actually take advantage of the full bonus offer.
I’m not saying that because I work for the casino, it makes this kind of advertising OK. And I am not the decision-maker on how the welcome or any other bonuses are offered. I am simply pointing out the decision-making process that Casino Day probably went through to advertise such a high bonus in the Ontario iGaming market.
Does the Curacao regulator crack down on these offers? The answer is no, so be aware if you do play at cryptocurrency casinos. Make sure you understand how bonuses work. If you are new to iGaming, then for further reading, take a look at the Casinoplusbonus Guide to All Online Casino Bonus Rules.
What is the Name of The Casino?
To shed further light on this, one of my side jobs, aside from writing gambling news content and reviewing bonuses and online casinos for Casinoplusbonus, is delivering content for a cryptocurrency online casino operating under the Curacao Gaming Authority (CGA). However, that specific casino has never been reviewed here on our website.
Mainly because if I reviewed it, I couldn’t be impartial, plus if I spoke about the flaws, my employer at the casino wouldn’t exactly be thrilled about my honesty. That’s the key aim of Casinoplusbonus – we review online casinos with impunity, and if I have to risk my work with the casino to create just one honest review, it’s just not worth it.
Alternatively, I could ask Matthew or Luke to write the review, but since Casinoplusbonus is still linked to my name, I will be the first to admit that the site is not perfect. Anyway, you get the picture.
Blatant Advertisement Right Here! If you want to see just how unbiased our reviews are, then visit our honest casino reviews main page and open one of the reviews for a brutally honest account of the iGaming platform, including its pros and cons.
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