Genesis License Suspended

Forum General Chat Genesis License Suspended

Viewing 9 posts - 1 through 9 (of 9 total)
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  • #4188
    sammysslots
    Participant

    Whats Everyones thoughts on this? This is going to impact a lot of streamers such as myself who rely on deposit offers from them.

    #4190
    Lenny Brooks
    Moderator

    I just got an email informing me Kassu has lost their gaming licence, you can only withdraw

    The email doesn’t say why, anyone know?

    #4192
    2Jags
    Keymaster

    My understanding of the situation is that Genesis Global have had their licence suspended by the UK Gambling Commission. You can read a little about it in the UKGC site here https://www.gamblingcommission.gov.uk/news-action-and-statistics/news/2020/Interim-suspension-of-operating-licence-–-Genesis-Global-Limited.aspx

    For those who can’t be bothered to read it, Genesis cover these brands:
    http://www.casoola.com
    http://www.casinoplanet.com
    http://www.kassu.com
    http://www.casinocruise.com
    http://www.casinogods.com
    http://www.casinojoy.com
    http://www.genesiscasino.com
    http://www.pelaa.com
    http://www.sloty.com
    http://www.spela.com
    http://www.spinit.com
    http://www.vegashero.com

    The licence has not yet been revoked, but it is certainly a possibility that it could be. For the moment this means that they can only operate in countries which don’t require them to have a UK licence, it does not mean that the company has gone bust.

    So what can we do as players of their casinos? Well, in short, very little. Clearly we can no longer play at the casinos until the investigation has been completed and the licence be reinstated. If you have funds with any of the casinos, keep up to date with the news and try to remove your money ASAP. I have spoken to Genesis and they have told me they will contact all their players with updates directly. Lenny Brooks, we don’t know at the moment, but we’ll keep you updated with news on this thread when we get some.

    As for your question Sammy, I’m very surprised that this has happened To Genesis as they have always seemed like a great casino group – I’m intrigued to find out exactly which guidelines they have breached (if indeed the licence is revoked). This said, obviously any company could breach any rule at any time, and past form isn’t necessarily an indication to the future. The streaming offer (which is very similar to the welcome offer) is a help to streamers as it allows us to create more content, and gives us a second chance to win when we would have otherwise lost. Gambling can become expensive, especially when you dedicate yourself to streaming for a set amount of hours every week. It’s important to remember to only gamble what you can genuinely afford to lose. I do think that streamers who relied on Genesis may have to find other similar deals, or either lower the stake or amount of time gambling in order to continue streaming.

    • This reply was modified 7 months, 1 week ago by 2Jags.
    • This reply was modified 7 months, 1 week ago by 2Jags.
    • This reply was modified 7 months, 1 week ago by 2Jags.
    #4199
    Lenny Brooks
    Moderator

    I hope Will managed to cash out, are they legally obliged to pay unprocessed winnings or only return the deposit made ?

    I’d be a bit pissed of if I had a balance waiting to be withdrawn

    #4200
    Hideous
    Keymaster

    Didn’t manage to cash out 😭

    #4201
    Lenny Brooks
    Moderator

    Tell them you will send Chloe in, if they don’t pay

    Joking aside, I hope they give it too you, just might take longer,

    They haven’t gone bankrupt so I would expect they will have to honour balances, if they want any chance of the gambling commission not completely revoking the licence that is

    #4213
    Hideous
    Keymaster

    I’ll go through this all tomorrow. It’s no hard feelings on my end but we actually finished Sundays stream with £3500 of Bonus Balance and £8500 left to wager. You get 2 weeks to complete wagering and I can’t see this being resolved in that time, so I would guess that money is lost.

    We have lost significantly at the group, but we’ve had some fun and made some great videos. So it’s not all bad 🤣

    #4311
    richandbev
    Participant

    Sorry you were scorched 🥵 a bit here bud . You’ve accepted it and moved on like a true gambler.

    What goes around etc all our love Beverley and Richard xx

    #4404
    Grandpopsjohn
    Participant

    The 3 pick bonuses were a joke i have screen shots showing my last 10 bonus picks 10×25%. I must be the unluckiest gambler ever.

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