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Posts Tagged ‘contract’

Reading a Casino’s Terms of Service

Wednesday, December 15th, 2010

If you are looking for a new online casino then most likely you have been bombarded with various casinos that believe they are the perfect one for you. They are going to showcase their best deals and games in the hopes that you bite. Of course they aren’t going to showcase the terms and conditions. You have to read those yourself. Remember that when you sign up at a new casino you are entering a contract with it. That is common in the world of business. Consider that when you go to a website, you are going to see the Terms of Service too. These normally state that using the website is a formal agreement to follow all of their rules. If you don’t, then you negate your rights at that casino. The same is true of an online casino so be sure you at least skim the TOS. You don’t have to read every word, but you should at minimum know the payout structure the casino has to offer and the terms of the bonuses. You could see a great bonus, but sometimes casinos work with that bonus and stretch the total out over a long period of time. If you don’t read the terms and conditions you aren’t going to know what is happening when you don’t see the total amount deposited to your account, it is going to be cause for major concern.

If you do see a casino you are interested in, then be sure to do some initial research. You have to be sure that the casino you are working with is secure and going to offer you exactly what you were hoping for. Casino games are the most diverse in the market now, but they are attached to bonuses that make games even more fun. Take advantage of these bonuses, but protect yourself from the fine print. Remember that a lot of casinos build special terms into bonuses so that the odds are more in their favor. You want to educate yourself so that you can protect your own interests when it comes to starting up at a new casino.

What is ‘Breach of Contract’ in Gaming

Wednesday, December 15th, 2010

When you go to a new casino you always should do some type of research. You don’t have to read every word of the Terms of Service, but you should know the basics on how this particular casino manages. You want to know what the bonuses are, how they payout and what you can do if you need help. You should let this became automatic—you want to know what is going to happen with your money, after all! If you are following online gambling news, most likely you have seen a few instances where gamblers did not receive their payouts on the schedule they had hoped. Why is this? The only viable reason to not paying out a gamer is if the gamer him or herself voided the contract due to some sort of breech. For example, recently there was a surge in underage wagering at land based casinos. One eighteen-year old boy played for about twenty minutes until he won the big jackpot. Rather than running, he stayed and boldly tried to collect his payout. The casino of course turned him away, but their reason was because he played in the first place and shouldn’t have. He was underage and that alone makes him ineligible for a win of any kind should he get lucky.

The only viable reason a casino will turn you down for a win is if you breach their contract in some way. When you are wagering at an online casino or at a land based casino remember that you are entering into a contract with the casino. Though you don’t sign anything, you should note that all casinos have some check. You might see a sign at a land based casino that says clearly if you opt to wager on the games in that facility, then you are agreeing to abide by their rules. If you don’t, then you disqualify yourself from any kind of payout in the future. Casinos have ways to protect themselves. They know how to build air-tight contracts with the customers. Your responsibility as a gamer is to protect your own interest. You should make sure that you find a casino that has a clear and transparent TOS to ready. Again—you don’t have to read every word of it, but you should know what the payout procedures are and what your requirements are too.

Entraction and PotRaiser.com End Affiliation

Friday, October 15th, 2010

In the business world affiliations happen every day. Some are for customer procurement and some are for monetary gain, but the truth is that they are all beneficial to both parties in general. It is difficult for one company to sometimes make it in the economy and joining forces with another one can be one of the easiest ways to double revenue, customers, products, services and overall resources. Entraction and PotRaiser.com did just that a few years ago. The companies joined forces to better cross promote eachother’s brands. Entraction is a network of poker websites that promotes various other websites. PotRaiser.com is a website that offers poker. The plan was to benefit from promotions in the network and increase the market shares for both companies. That was not to be however. Recently Entraction announced that it no longer is keeping PotRaiser.com as part of its network and has to move on with its other network of poker casinos. The reason released was because PotRaiser.com was unable to adequately live up to Entraction’s terms of service and rules. They also stated the company continued to breach the rules despite previous warnings of issues with the ways they were doing things in the market. The answer to the problem was for the two companies to sever ties and move on.

Both companies are showing no signs of declining in the market though. Entraction maintains it has a long list of network affiliates right now to manage. They have all been successful and continue to bring in revenue the reliability to the network’s brand. They are quite happy with the casinos currently in the network and are fine without the poker website. PotRaiser.com also stated they are doing well after the split. The company’s official spokesperson stated that its contract with Entraction was up in July and since that time it has been actively building its own network of pokre professionals under which to operate. Now that the companies are gone from eachother’s business, it seems that both are set on improving on their own. They are taking the market by storm in 2011 and committed to growing their own brands as the market continues to develop.

VeriFone Systems Signs with Marina Bay Sands

Wednesday, October 6th, 2010

In the world of gambling one of the most lucrative contracts to get is an exclusive one. These happen when one company agrees to provide a service and the other company agrees to use them solely for that service. It’s a great way for a company to build their business and come up with a wider revenue stream, while shutting out the competition. It’s happened in a wide range of businesses throughout the history of development. Companies look for that cost-efficient way of getting their name out there without having to worry about other companies in their same market. Now it is starting to happen in the world of gambling. VeriFone Systems Inc just announced that it is going to be the exclusive payment solutions provider for the Marina Bay Sands Hotel in Singapore. This is huge news, especially due to how quickly the Asian market is booming right now. The casino hotel has over 2,500 rooms and suits, three towers and it is the largest hotel in the country. It also is becoming a hub for business within the country.

The Asian market is growing exponentially right now and it is becoming a gambling center of the world- quickly replacing places like Las Vegas and Atlantic City. The Asian market recently showed a 56% growth rate which is unheard of in any market much less gambling. VeriFone is going to be integrating to the Marina Bay Sands Hotel systems in coming weeks by using an EMV-approved solution system, along with a multimedia device, check-in and check-out system called MX870, and other systems that allow for government-only clearance. Part of the company’s offerings are their Vx series of pinpads that allow for hands-free and signature capture devices. They allow people to sign in and pay via their MasterCard, Visa, American Express, JCB, NETS Debit, NETS FlashPay and Diner’s Club cards. This is a lucrative deal for VeriFone and should allow them to move into the Asian market even more as the coming months go by and as their success as a provider spreads throughout the world gambling market. With technology on their side, it is only a matter of time for them to move up in the world of gambling and get more contracts with big name casinos.

Always Read the Terms of Service- Part 2

Tuesday, October 5th, 2010

Another thing you have to watch for is how a casino is going to manage its other bonuses. Not that they won’t benefit you, but you have to know what the details are on getting to them. For example, a good VIP bonus is great but if you have to wager to a certain amount you have to keep that in mind. Let’s say the casino offers 1 point for every $10 you wager. When you reach 100 points, you move up in level. You have to make sure that you are ready to commit to the casino to reach 100 points. This is why when you wager, you have to read the terms of service and make sure you can reach the qualification rigors. Another thing to look at is the gaming quality. You want to make sure that there are enough games of your style of preference to keep you busy until you get the return. If you love slots gaming that shouldn’t be a problem—there are enough slots games out there to make it worth your while. Most casinos know how lucrative slots are and they make a huge range of them available for their customers. On the other hand, if your game of preference is Keno, you may have a more difficult time finding casinos that offer it, and making enough points to move up in levels. Make sure you know what games you like and then find bonuses that benefit you for them.

The TOS is the contract you agree to with a casino. You have to make sure you read and understand the terms the casino is playing out. If you want to wager, then make sure that there is a sure-fire benefit for you in gaming. You want to make sure that you can benefit for the amount of gaming and type of gaming you prefer. There are a lot of gaming choices out there so be sure you know which you like the most. Find bonuses and specials that benefit you the most. The best thing about today’s gambling world is that there are enough gambling choices out there for everyone to find a true benefit. You may have to do a search if you like an obscure game, but that doesn’t mean you can’t find something that improves your gaming experience.

Always Read the Terms of Service- Part 1

Tuesday, October 5th, 2010

If you find a new casino then you should always get into the habit of checking the TOS, or Terms of Service. Not that you have to read every word, but you should understand the basics of what the casino’s procedures are. Namely the most important topic in the TOS are how the casino pays out and how the bonuses work. It’s no coincidence that both involve your bankroll. Remember that next to online security, your bankroll is important. You want to do all you can to protect it continuously as you wager. A casino is well protected themselves; their operators know how to build specials and promotions that still bring them in a good return. No matter what, “the House always wins” is still applicable. Every good casino knows full well how to protect its revenue. That’s why you need to know how to protect yours.

One of the surest ways to protect your bankroll is to watch the bonus structures. You want to make sure that the bonuses are truly a benefit. For example, consider the match-bonus. Most casinos offer a match bonus when you first sign up. Let’s say they say “We offer a 100% match bonus of up to $1,000.” That means if you deposit $500, the casino will increase your account to $1,000 to wager with. Casinos play with the rules though. Let’s say you read the TOS. It may say that you get the bonus, but only after you wager $1,000. That means that you still get the bonus, but not right away. You may have to commit to wagering with the casino for a certain amount of time, or up to a certain amount before you actually get to take advantage of the bonus. The only way it benefits you is to stay at the casino for a long period of time. If you planned on just trying it, then this bonus isn’t as lucrative as you may have hoped. Always read the TOS and make sure that the bonuses and payouts truly benefit you. The fine print is what can turn things around into the casino’s favor.

Part two coming next.

Las Vegas Workers Coming Closer to Union Contract

Thursday, March 18th, 2010

Dealers and Wynn Las Vegas are getting closer to an agreement on a union contract, a filing with the Securities and Exchange Commission shows. All the major issues have been agreed upon except one final decision. The filing by Wynn Las Vegas said the hotel-casino and Las Vegas Dealers Local 721 have reached agreement on all issues except the duration of a contract. Union director Joseph Carbon said the two sides are only “two or three years apart” on the length of the contract. He cautioned, however, that some of the dealers are unhappy with some of the language about tips. He did not provide details on what the contract proposal says about the hotel-casino’s tip policy.

“Not everybody’s always happy, especially with the first contract,” Carbon said. “It’s groundbreaking and I think people have to understand that.” Unionization in Las Vegas has a historic past, most of which has been unsuccessful. Dealers at the Tropicana, Stratosphere and the now-demolished New Frontier approved union representation, although the only contract that was ever signed covered just 105 dealers at the New Frontier. The current agreement at the Wynn Hotel is significant as it may open doors for many more similar cases.  The dealers at Wynn Las Vegas voted 3-to-1 in favor of a union in May 2007, eight months after the hotel-casino changed its tip policy so certain table-game supervisors could begin receiving a share of the dealers’ tip pool.

The dealers at Caesars Palace also voted for a union in late 2007, but negotiations broke down in December. While there still has been no contract signed, the news of progress in the union contract talks at the Wynn came on the same day that attorneys for the dealers were granted an additional week to file briefs in the dealers’ complaint against the hotel-casino’s tip-pooling policy.  Wynn dealers are asking Nevada Labor Commissioner Michael Tanchek to find that the hotel-casino’s tip policy violates state labor laws. They are asking him to award about 500 dealers $35 million in back pay and penalties. Attorneys for Wynn have maintained that the tip policy complies with state laws and is comparable to a restaurant sharing tips between busboys, bartenders and waiters. The dealer’s attorneys have until March 22 to file briefs in the tip-pooling case. If the briefs are filed by March 22, attorneys for both sides will have until April 19 to respond. Tanchek is expected to rule on the case by the end of May. A ruling was initially planned for January, but in December, Tanchek pushed the date to April because he needed more time than expected to review 55 hours of testimony from the hearing. Attorneys for both sides have said any decision by Tanchek will likely be appealed, probably to Clark County District Court, where dealers first challenged the policy in 2006.