Videoslots Withdrawal

The operator will face a SEK250,000 (£22,000/€24,800/$30,000) per week fine if the issue is not corrected.

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Aug 15, 2016 Hello everyone, I made some deposits on videoslots via Neteller (approved), Card (approved) but most of them with Paysafecard (PSC). Manage to win something and wanted to withdraw. Since most of my deposits came from PSC they don't allow me to withdraw to Card or Neteller, they want me to. Hello everyone, I made some deposits on videoslots via Neteller (approved), Card (approved) but most of them with Paysafecard (PSC). Manage to win something and wanted to withdraw. Since most of my deposits came from PSC they don't allow me to withdraw to Card or Neteller, they want me to.

During an inspection to ensure operators complied with the country’s controversial deposit cap, Spelinspektionen requested information explaining how Videoslots enforces its deposit cap in July.

In its response, the operator explained that it was impossible to log in without setting a deposit limit of SEK5,000 or less per week. This was supported by a test, inspection and certification report from an accredited testing lab.

However, Videoslots initially chose not to answer a question about reverse withdrawals, where a customer cancels a decision to take funds out of their account.

When it did produce evidence on this matter, Spelinspektionen found that players could effectively deposit more than SEK5,000 in a week by reversing previous withdrawals, which could be as much as two months old. Videoslots said the feature existed due to player requests.

Spelinspektionen noted that the operator also complied with bonus and login time limits, and that it did require players to set a deposit limit of up to SEK5,000 upon login.

However, it said the reverse withdrawals clearly allowed a player to circumvent the law.

“The regulations state that the upper limit for deposits at commercial online gaming amounts is set at a maximum of SEK5,000 per week and that the licensee is obliged to ensure that the limit cannot be exceeded,” Spelinspektionen explained.

The regulator added that Videoslots’ deposit cap amounted to little more than a warning to players, rather than something that was fully enforced.

“With Videoslots’ interpretation of the provision, it would be sufficient for a licensee to state to players, ‘You have a deposit limit of SEK5,000 per week for commercial online gaming,’ no matter how much money can be deposited and used for online gaming in practice,” it said. “Spelinspektionen does not share in that assessment.”

Although it noted that reverse withdrawals were in place before the deposit cap came into force, the regulator said this did not change the fact that they meant Videoslots violated the rules. Hallmark christmas bingo.

The operator argued that the deposit cap was contrary to EU law and said it was pursuing legal action against the Swedish state over the rules.

However, Spelinspektionen rejected this interpretation. It pointed out that the freedom to offer services within the EU may be restricted, in order to protect the public interest, provided the measures are proportional.

The regulator ultimately ruled that the violation was not trivial, and therefore warranted more than a warning. Equally, it added, it was not serious enough to merit a licence suspension.

As a result, it issued an injunction to remove reverse withdrawals. Failure to do so will see the operator incur a fine of SEK250,000 per week until the change is implemented. When the change is brought in, Spelinspektionen must also be notified.

The operator said it will comply and remove reverse withdrawal functionality, but added that it still did not believe that it was in breach of the temporary regulations.

“Videoslots notes the decision made by the Swedish regulator and is pleased that it confirms compliant implementation of the bonus, deposit and time limits put in place by the Swedish government to counter a perceived increase of risks during the Covid-19 pandemic,” Videoslots said.

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“According to the decision, these regulations also prohibit the withdrawal-related functionality which remained in question. We will comply and remove this functionality, having already offered to do so during the assessment.”

Videoslots called for greater clarity around the rules, in order to ensure that further operators do not unknowingly break them.

“We do not, however, believe that we were in breach of the COVID-19, or any other regulations, and call for greater clarity to aid responsible operators like ourselves. Furthermore, we maintain our position that these regulations are both unreasonable and unjustifiable.”

Finally, it added that it believed the cap might actually be a negative for player protection, as it may push players towards the unregulated market.

“Not only are they contradicted by facts and damaging to licensed operators, they are also completely counterproductive to their declared aim of player protection and push players into the arms of illegal operators,” it said. “We will therefore continue to challenge these regulations.”

The injunction against Videoslots marks the third time the regulator has taken action over apparent violations of the deposit cap.

In December 2020, it fined both Kindred brand Spooniker and former racing monopoly AB Trav och Gallop (ATG) after discovering a different loophole in each operators’ enforcement of the cap.

At ATG and Spooniker, players could set a higher cap, but those who did could not play casino games. However, a player could simply set a high limit, deposit more money and then lower their limit and play online casino games with more than SEK5,000.

The deposit cap was implemented in July 2020 and although it was intended to last only until the end of that year, it is now set to be extended until June 2021. It has drawn opposition from across the gambling industry, including operator association Branscheforenigen for Onlinespel (BOS).

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Video Slots - Why Pick these Amongst the various Slot Machines

Video slots games developers, thankfully for all of us, continually produce better videoslots since their inception in 1890s. We have come a long way since Charles Frey’s first videoslot machine and the main reason behind this evolution is that the likes of Microgaming, NetEnt, Pragmatic Play and Red Tiger Gaming have kept producing newer and better video slots constantly. If you don’t believe us you can check demo versions of various videosslots across the past century on our online casino to see for yourself.

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Finding the Best Videoslot to Play Online

Au online casino. All the different aspects of free video slots we mentioned above are perfectly valid factors to take into account when deciding on your game of choice. Nonetheless, it has to be mentioned that you are likely to identify more than one new games that seems right for you – as the aforementioned developers are quite well-informed in regards to what their audiences want.

Below we will be making a list with certain things that could help you narrow your list of choices amongst the thousand free videoslots available to play for real money or for fun today:

Minimum and Maximum bet options: some games offer bets from as low as 0.01 up to £25 per spin. Thus, your bankroll can actually act as a good way to exclude some game options and narrow the list down.

Video Slots Bonus Symbols: There are a number of different symbols that are apparent in videoslots games and from which you will need to pick a couple – as if a game had all of them at the same time, then, losing wouldn’t be an option; just to mention a few of them, scatter, wilds, free spins, jackpot symbols, sticky wilds etc.

Slot Games Cinematic Themes: Developers have got inspired from many different areas when it comes to bringing to life their next big hit; thus, based on your personal preferences you can pick a video slot theme across any of the following and much more; superhero, movie, music, futuristic or country related.

Videoslot Free Spins & Casino Promotions to Gamble Online

Most up to date casinos, like us, tend to refresh their list of videoslots weekly to include the new casino games that are being released. Thus, after you identify the video slot you want to try, you will have to find the best casino to do that. Most people tend to get influenced by the brands that they see or hear on the TV and the radio, while the wisest choice would be to see what is in for them.

Welcome offers, loyalty schemes and seasonal offers should be the determining factors when deciding on which casino to play video slots; most big casinos online tend to offer free spins for slots, bonus cash based on the amount the player deposits and/or bingo tickets. On Slots Racer we offer you a free spin on the Mega Reel when you make your first deposit of £10, which can potentially rejuvanate your bankroll; the luckiest of those who spin the lucky reel, could win free spins to be played on the best video slots available in the market (Full Ts & Cs Apply); our best games include slots such as Starburst, Vikings go Berzerk, Fairground slots and on many other games!

Some of the best casino games available on Slots Racer include Vampires vs Wolves, Tree of Riches and Chili Heat; while some of the most popular ones can be seen below. Don’t lose any time and start spinning!

The History of Video Slots up to Videoslots Online

Slots have been around for more than a century and their graphics, gameplay and symbols have been constantly transforming to please the fans and their demands. Every new version since the manual slot machine has improved technology that can be plainly understood from the increased number of paylines, better symbols and extra rows that we observe on most video slots today.

The above have made many players more loyal to these games, which resulted to increased casino revenues; therefore, a huge market of videoslots developers has been created that masterfully compete to create the new big hit. Some casinos, like Slots Racer, offer more than 500 hundred video slots games online as a result of the above.

For a more comprehensive map of the history of this casino game, ranging from the fruit machine to the current sophisticated video slots uk follow the link above.

Best Slot Games Developers Today

The competition amongst casinos for the best video slots has resulted in increased rivalry in-between the slot games developers. Slots Racer hosts numerous games from each of the developers below and we suggest that you try the demo version of some of the videoslots from these names to see who is closer to your standards:

Pragmatic Play
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Deposit Options for Video Slots – Getting Started

Due to the transcendence of the economy to the online world there are numerous options available when it comes to depositing funds to a website. Casinos offer pretty much the same options with other online retailers. If you fancy playing video slots with real money over free videoslots – you could deposit funds through:

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Debit Card
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eWallets

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And don’t forget that after your first deposit on video slots you can spin the Mega Reel to win up to 500 free spins on selected slots titles (Full Ts & Cs Apply); find promotions on top-rated video slots like Starburst, Narcos, Fluffy Favourites, Rainbow Riches and other.

Play Videoslots Responsibly

Video slots are fun, but similarly to other casino games they can be addictive. The bonus rounds, the free spins and the huge rewards draw players in the game. For this reason we suggest to all new and old players to place bets as long as they are having fun and they are playing within their cash limits. We wish we could set a universal betting limit per week on each player, but the situation of each player is very different so this is something you have to deal with on your own. Reading bingo. However, you can contact our customer support team for advice on gambling addiction and how to gamble responsible.

Here you can also access the UK gambling laws to learn how to be protected of fraudulent casinos, in case you decide to play on a different site. In any case, we hope all of the above were insightful for you and we wish you best of luck on your videoslots spinning spree!

Frequently Asked Questions (FAQs) - Your Video Slots Related Enquiries Answered

Video slots online are a bit more complicated that classic slot machines. We have tried to answer all of your questions below.

Are video slots online fair or rigged?

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Video slots in brick and mortar casinos or in pubs could be rigged by the individual operators. Online video slots are fair, as long as you play on a licensed casino like Slots Racer. Each one has an RTP and an RNG that is monited by the license provider and independent bodies, such as eCOGRA.

How many reels video slots typically offer?

Classic video slots tend to offer 3x3 reels structure. Online video slots, like the ones we offer in abudance, tend to have 5x5 reels and 25 paylines - offering over 1,000 different ways to victory. This number can vary, but it's the most common today.

Do video slots have softaware requirements?

Video slots tend to require basic software requirements, which are apparent in most mobile, desktop and tablets developer after 2000. However, the better software you have, the fastest the game will run!

How long do video slots withdrawals take?

If you play on Slots Racer, 5 days is the maximum that a withdrawal will take. However, if you use eWallets like PayPal, it usually takes up to 24 hours.

What is the trick of winning on slot machines?

Unfortunately, there is no trick to beat slot machines as they have a Random Number Generator in place. However, you could pick high volatility slots, with RTP over 96% to have increased chances to win real money.

What is the best free slot machine app?

Our Android and iOS apps are free and can be found in the App Store and the Google Play Store. Download them and play over 600 video slots today.

What is a video slot machine?

Slot machines were invented in the 1890s and operated mechanically. Video slot machines are all slot machines after the 1960s, which is when the genre truly transform and captivated audiences.

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