Recently it has become popular amongst online casinos to offer their players a bonus upon cancellation of a request to withdraw their winnings, in order to provide encouragement for cancelling taking money out of the account. This new bonus has been the topic in quite a few discussions on casino bonuses.
In order to fully comprehend the nature of this new bonus, a short explanation on the subject may be in order. When members intend to take money, such as their winnings out of their accounts at the online casino they play in, a withdrawal request is made at the appropriate area of the casino site. It is normal for this type of request to take some time, ranging from merely hours to a couple of days to be processed before the request is final. During this time the requested funds are in a frozen state and cannot be used for betting or anything else. During the processing period a player can cancel the request at any time, which is often referred to as a reversal of the request. Once requested the funds are available to the player again to bet with.
Of course it is in the best interest of the casino in question for the player to cancel the withdrawal, so betting can continue and the casino profits, and since normally a withdrawal request once placed is not reversed, a new bonus that rewards cancellations was introduced to encourage reversing the withdrawal requests.
Cancelation bonuses are not granted for just any withdrawal request. Generally these bonuses become a factor when large amounts are involved. The idea behind this is best illustrated with an example:
A player wins a large amount of cash from his wagers and wants to have it in his possession. He places a withdrawal request, but is also still hyped up from winning and feels like he is on a lucky streak. The cancelation bonus plays on that feeling, tempting the player to cancel the request and wager some more. Usually the cancellation bonus entails a significant percentage of the withdrawal request to be reversed, often as high as 50% of the amount.
The casino sites offering this type of bonus all belong to an organization which is known as the Rushmore group, and the cancelation bonus is referred to as “winners bonus” with an average bonus of 40% of the amount requested to be withdrawn. Special conditions apply, like redeeming the bonus immediately after reversing the withdrawal and before any bets are placed, or other funds added to the account.
The bonus is considered to be a so called “play bonus”, meaning only the winnings from the bonus are cashable, not the bonus amount. In addition a player cannot request any other cash outs until the mentioned requirements have been met. The online casino sites offering the bonus require that the amount wagered must be twenty times that of the bonus plus the initial amount to be withdrawn. Also different games will add different amounts to these requirements, while other games will even void the winnings accumulated from the bonus.
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