Reverse Cashouts

Forum General Chat Reverse Cashouts

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  • #2846
    Lenny Brooks
    Moderator

    Hi

    I thought that reverse cashouts were now banned in the Uk

    I joined a casino yesterday and luckily had a cash out, 24 hours later and I can still cancel the cash out

    Is this allowed?

    #3105
    Chloe
    Moderator

    Hi Lenny, I’m not sure if Will or 2Jags have noticed this post yet but I was under the impression reverse cash outs were stopped. There might be a delay with certain casinos, but the option definitely shouldn’t be there much longer. In the meantime if you contact live chat and ask them to remove that option for you with any future withdrawals they will.

    #3358
    2Jags
    Keymaster

    The latest information I could find on this was printed in May 2020 and is as follows:

    The Gambling Commission issued new guidance for online operators. It ensures that consumers are further protected following the publication of new evidence that shows some gamblers maybe at greater risk of harm during lockdown. Included in the guidance is the need for affordability checks, prevention of reverse withdrawals and restrictions on bonus offers.

    The Commission, supported by academic research, lived experience and expert advice, already considers the use of reverse withdrawals as a flag for potential gambling harms.

    Later this month the Commission will be opening a consultation which will propose strengthened measures around ethical product design, including reverse withdrawals and VIP Inducements.

    So Lenny, I guess that it is something that is in the pipeline still. If anyone has any more info on this, please let us know.

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