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auCL-Ed
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17 September 2015 - 11:08pm

The curse of the Playtech jackpot win

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A customer of Casino Bellini recently won Playtech's Spamalot Holy Grail jackpot for almost $3 million.
$2,973,077 Spamalot Holy Grail Jackpot Won

That is great news right?

Well I feel sorry for her because this casino is one of many Playtech casinos that institutes a monthly withdrawal limit that applies to progressive winnings, in this case $9990. So by my maths it is going to take almost 25 years for her to receive all the money.

If that isn't bad enough, consider that Playtech hands the entire lump sum over to the casino right now, and its owners just hold onto it and dribble it out to the woman over decades.

Take the hint people - don't play at second rate Playtech casinos like Casino Bellini that limit progressive jackpot payouts to tiny monthly amounts.

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deritchy
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18 September 2015 - 7:13am
#1

Well that's frustrating.
I really hope that the casino makes an exception and pays this life changing jackpot win to the winner all at once.

Having such a big win is a good promotion for an online casino but not if it does not pay the money that belongs the player.

usbarbadosslim93
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18 September 2015 - 5:32pm
#2

Awful to see. What exactly do these casinos do with this money?

krcoolsongss
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19 September 2015 - 1:03pm
#3

This is a ridiculous policy of Playtech casino.
What about other software providers' dealing with Progressives Jackpots ??

deritchy
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19 September 2015 - 1:45pm
#4

Well, cl-ed correct me if im wrong, but its not a playtech policy (or the policy of the software provider).
Its the policy of the casino.
There are playtech casinos that do not have such a rule.

auCL-Ed
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20 September 2015 - 11:26pm
#5

Yes that is right ritchy. As far as I am aware, Playtech pays the whole amount to the casino. Then each casino has its own payout policy. Big name, well known bookmakers like Bet365, Betfred, Betfair, Gala etc pay the winners in one go. However most of the other, lesser known casinos have the ridiculous less than $10,000 a month policy. The sad thing is that I believe that some of the casinos with this rule are indirectly owned by Playtech via subsidiary companies and/or shareholders.

I fear for this winner though, considering what happened a few years ago with the last woman who fell afoul of this rule.
Joyland jackpot win turns into nightmare

There was also a player that was ripped off by African Palace Casino and they only received less than half the jackpot.

So you need to be very careful about which Playtech casino you choose, because there are some very bad ones out there and Playtech does not care and won't help if you have a problem.

coolsongss wrote:

What about other software providers' dealing with Progressives Jackpots ??

This varies. I know that big winners on Microgaming and Net Entertainment are generally paid in one lump sum, but I am unsure if an individual casino could have such a rule that overrides this.

IGT pays MegaJackpots wins in annual instalments over 20 years, or the player can choose to receive a single lump sum that is reduced using a net present value formula. In other words an IGT jackpot is not worth the amount that it appears to be because it is discounted by 20 years worth of interest, whatever the winner chooses.

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phAlyLauren
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22 September 2015 - 2:58am
#6

I believe that most of the casinos online offers that same kind of rules. They limit the winners cash withdrawal for $10,000 only. I guess she's still lucky knowing the fact that she will have a money every month, though it will take 25years for her to withdraw all her winnings. Joking

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26 September 2015 - 1:02am
#7

If she doesn't make it for 25 more years is it null and void or can she leave it in her will for her heirs to receive? I mean really - 25 years? That just does not seem fair at all for that "life-changing" amount of money, as someone else called it.

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auCL-Ed
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28 September 2015 - 2:26am
#8

I expect that she would be able to will it to her heirs, but really if that casino is still around in 25 years time to pay it I will eat my hat. The policy as worded is both deliberate and disgraceful, considering that the casino gets the full amount right up front. If she had been playing at Bet365, Betfred or Betfair, or the handful of other "good" Playtech casinos she would probably have the whole lot already.

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28 September 2015 - 2:39pm
#9

I can wait, when millions are in question!!! Eat Eat

krcoolsongss
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5 October 2015 - 6:46pm
#10

Casino turns into a pension fund, hahaha.

I am very curious about Playtech itself, regarding this kind of irresponsible policy on progressive Jackpots.

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5 October 2015 - 11:21pm
#11

Look up the name Teddy Sagi. He is Playtech's billionaire majority shareholder. He's also a convicted criminal that did jail time for stock market fraud in Israel in the 1990s. It does make you wonder sometimes...

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uaYoungFamous
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19 October 2015 - 10:26am
#12

I don`t even imagine what to do in such cases. Is here any advocates?)

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19 October 2015 - 10:28am
#13
CL-Ed wrote:

Look up the name Teddy Sagi. He is Playtech's billionaire majority shareholder. He's also a convicted criminal that did jail time for stock market fraud in Israel in the 1990s. It does make you wonder sometimes...

OH, tell me more about it. I recently heard that one of Israeli casino owners had stolen a state customers datbes for a few million op people, he was arrrested also for the pump-and-dump-scheme and fraud with the bitcoins...

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19 October 2015 - 11:38pm
#14

Yes those guys were in charge of Affactive and Revenue Jet casinos - for example Loco Panda, WinPalace, Slots Jungle + many more. They were involved in spamming, DDOS attacks, negative SEO attacks against sites that spoke the truth about them, and much more. They are total criminals.

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usjwilliams
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20 October 2015 - 10:40am
#15

Well, now I'll think twice before playing at any Playtech casinos.

uaYoungFamous
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20 October 2015 - 1:13pm
#16
CL-Ed wrote:

Yes those guys were in charge of Affactive and Revenue Jet casinos - for example Loco Panda, WinPalace, Slots Jungle + many more. They were involved in spamming, DDOS attacks, negative SEO attacks against sites that spoke the truth about them, and much more. They are total criminals.

So do you think I should withdraw my money out of there?

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20 October 2015 - 10:27pm
#17
jwilliams wrote:

Well, now I'll think twice before playing at any Playtech casinos.

If you're in America you can't play at any of them, so no need to worry. Though I dare say that a lot of the casinos that do accept Americans have similar restrictions.

YoungFamous wrote:

So do you think I should withdraw my money out of there?

I'm not sure if you are referring to Casino Bellini or the ones run by the guys that were arrested. If it is the latter, you can't withdraw as the casinos disappeared on the day the criminals were arrested. No-one will be getting any money from them.

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uaYoungFamous
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23 October 2015 - 8:31am
#18

Hmm..It`s strangely enough but casino-888 belonged to one of the arrested man were closed..BUT the poker-888 id still working and feeling pretty good. They were belonged to different people? Or maybe there is a hope..

auCL-Ed
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24 October 2015 - 4:10am
#19

I'm not sure what casino-888 is. Do you mean 888 Casino? If so, that one has been open and running for years and no-one there has been arrested that I know of.

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uaYoungFamous
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26 October 2015 - 8:55am
#20
CL-Ed wrote:

I'm not sure what casino-888 is. Do you mean 888 Casino? If so, that one has been open and running for years and no-one there has been arrested that I know of.

Yes, 888 casino and Titan..

auCL-Ed
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26 October 2015 - 10:27pm
#21

You are mistaken. They were the owners of the Affactive and Revenue Jet groups of casinos. They did not own 888 Casino.

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28 October 2015 - 8:39am
#22

When I win this Jackpot, I will give all Casino Listings members 50€ free chip with WR - 1X Coffee

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28 October 2015 - 10:44pm
#23

Hahah I'll make sure to remind you... lol

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