Post
Topic
Board Gambling
Re: BETMODE: First Web3 Casino with Full Transparency Bankrolls!
by
BETMODE
on 06/10/2024, 15:32:26 UTC
Welcome to the forum. Well, I saw some things that I confess made me wonder why the casino was doing this. For example, here on the forum you wrote this:

⚡Instant payouts and on-chain, transparent transactions.

There is no doubt that we all want to see instant payouts when we use a casino. No one likes to wait, especially when it comes to receiving the money we have won. That is why when I read this in this thread I confess that I was happy, I immediately said to myself that this was a good measure. But I went to see on your website what the rules were and to my surprise I am seeing this:

3.3.1 While betmode.io will endeavour to pay out withdrawals immediately, some withdrawals may take longer than others. betmode.io shall try to pay out withdrawals within 1 hour, however in some cases, withdrawals may take longer; this would clearly be stated when you choose a method of withdrawal.

source: https://play.betmode.io/doc/1-terms

From what I could see, your casino doesn't have currencies that take a long time to be confirmed, so why would the casino take 1 hour or more than 1 hour to pay people? In my opinion, this passage in your TOS opens the way for the casino to no longer be a casino that makes instant payments, but rather the casino will pay whenever they want. It won't be something like the person requests payment now and sees the payment in their wallet at the same time, but rather it will be a scenario in which people will request payment and the casino can wait hours for more people to lose before paying the winner. Honestly, it would be better if you removed the part that talks about "Instant payouts" from the thread.

Thank you for your feedback! I completely understand your concern. I can assure you that we guarantee instant payouts, as everything happens on-chain thanks to blockchain technology. The Terms of Service include that passage as a safeguard for the operator, allowing us to resolve any rare technical issues manually if they arise.

I encourage you to visit the platform yourself and do a test deposit and withdrawal. You'll see that withdrawals are indeed processed instantly. Your trust is important to us, and we're committed to ensuring fast, reliable service!