The New Jersey online gamblers have been warned by the DGE not to slow roll customers. The New Jersey Division of Gaming Enforcement (DGE) issued an advisory bulletin with respect to online gambling licenses “soliciting or incentivizing withdrawal requests to be rescinded or canceled by the patron.”
The DGE said that many customers have a complaint that the operators are taking up to two weeks of time to process the withdrawal. This is mostly to hope that the customers would continue to gamble. However, that is not it. Some of the customers have even received requests from the operators to reverse the withdrawal request. Some even received a bonus offer to do that.
DGE said that there is no existing rule that specifies a hard time frame to process withdrawals. Some delays may be justified considering fraud or money laundering prevention. However, it should not take much more time than that.
However, the regulator took a very cautious note on a few details. Certain operators are taking more time imposing unnecessary delay but also implying that the funds in question can be immediately available for the wagering process, in case the withdrawal request is withdrawn. The rules do prohibit this withdrawal either covertly or overtly.
The DGE said that the actions from the operators are an impressable delaying tactic. It warned of strong regulatory actions and impose civil penalties when customers are improperly encouraged to rescind the withdrawal requests for the purpose of gaming activity.
Regulators from other organized markets also are cracking down on such activities. UK Gambling Commission recently also prohibited the online licensees from accepting all withdrawal requests and termed it as a potential gambling harm flag. The order was issued to protect the customers.
Inspirational Link: https://calvinayre.com/2021/01/15/business/new-jersey-online-gambling-ops-scolded-reverse-withdrawals/
