Just got a message from a friend that he lost all of his money with one of those online casinos.

[achieng]

So he said he saw this great signup bonus at Red Dog casino.. something like +250% your deposit. I told him not to do it but he said it's too good of an opportunity to pass up. He deposited $1200 dollars so he had a starting balance of roughly $4,000. His playthrough was also over $100k, which he didn't realize. So he starts off on a few different slots, and (as expected) he's winning big. He's up to nearly $8,000 pretty quickly. Then the site starts to work its magic. Losses start piling up, but everytime he gets close to $1,000 he miraculously gets a big win. He got all the way up to $24k. Then right back down. He wasn't even half way through his playthrough when the site just decided to put him out of his misery. Down to zero and another offer for a "generous" bonus.

So the lesson here is, don't sign up for this garbage or anything like it.

It's not going to make you rich or get you out of debt. It's a hobby for people that can actually afford it.

 

[shostar12]

@achieng Online casino are 100% rigged and it's a scam. All Stay away

 

[achieng]

@shostar12 Lol well yes, i tried to tell him that, especially since it wasn't disposable income for him.

 

[fadeaway]

@achieng Just a question. Could he have cashed out at $24k?

 

[rayrocanaldo]

@fadeaway Nope. Most casinos when offering 'promos' like this have a minimum dollar amount that you have to play before cashing out the bonus, aka "playthrough".

OP said that for his friends offer the playthrough was 100k! That's insanely high.

 

[katherinej]

@rayrocanaldo I'm completely ignorant of casinos (by design - I've always known if I ever walk in I'll probably never want to leave). Does playthrough mean that his account would need to reach 100k before he could take out his initial "investment"?
Edit: I should have kept reading - question answered below! lol

 

[jess1]

@katherinej He needs to gamble $100k, win or lose. In other words, he needs to place $100k in bets.

 

[harmoniousedit]

@rayrocanaldo Wow. What a scam. Is this true for physical casinos as well?

 

[barryjones123]

@harmoniousedit No

 

[stormspotter]

@harmoniousedit No

 

[bewarethelamb]

@harmoniousedit So the bonus (250% in this case) is contingent on the 100k playthrough. If he didn't take the bonus there is no play through, but taking it locks up all your money until it is reached. Most physical casinos don't offer such lavish bonuses, but if they did, there would be a similar playthrough contingency (5x 10x 25x)

 

[natchomamma]

@shostar12 Are you under the impression that physical casinos aren't rigged? In Vegas they have to publish the odds, and the odds are: The house always wins.

 

[shostar12]

@natchomamma Physical casinos have edge of only 1-3%, while digital is totally scam.

 

[georgedanielleonard]

@shostar12 87% payout rate for slots I believe. Roulette is best.

 

[maish]

@georgedanielleonard Craps baby thats the best

 

[samsunguser]

@maish Poker is far superior. Why play against the casino when you can play other people and dictate your own odds?

 

[maish]

@samsunguser I like the action of a craps game, and the house just takes a cut of the pot in a poker game. But u do u

 

[samsunguser]

@maish Fair point. Craps is fun, but people hate it when you bet on "don't come", which gives better odds.

 

[maish]

@samsunguser People who bet on the dont come line are assholes, lol.

 

[tramstein]

@maish I’m an asshole lol, but when I win on the dont come line I try not to make a big deal out of it because some people really take that shit personally