Gibraltar Regulatory Authority (GRA): Get players compensated for losses on deceptive games
Gibraltar Regulatory Authority (GRA): Get players compensated for losses on deceptive games
The Issue
Since 2004 until Jan 2013 some internet gambling games provided under licence by the GRA have misrepresented the likelihood of winning by saying that 100% of monies gambled are returned to players in the long run. In addition these games misrepresented card play as based upon a real deck of cards rather than operating with a fixed win percentage for the site.
The total amounts lost on these false games is not yet known. The GRA refuses to insist players are compensated for their losses on these games. They claim they are “insignificant”. If so our request that the total won by these sites misrepresenting the likelihood of winning will not be significant either. We ask that all players who lost money on these games advertised as equal odds be contacted and offered refunds for the money lost on these games.
Some players may have won on these games despite the long term certainty of losing – this means that if all those that lost do claim a refund the site may be out of pocket. In our view this is a reasonable punishment for having misrepresented the games offered. More likely the fact that the games have run for so many years means that losers contacted via out of date email accounts or using dormant accounts will not reclaim in full the total they are rightly owed. If after six months of attempting to refund players the sites net position still shows a gross revenue profit (yield) on these false games then all the gross profit(yield) remaining should be donated to charities dealing with problem gambling either for research or helping problem gamblers. Gambling sites should not be allowed to profit by misrepresenting their gambling games.
This petition was started as a companion to the open letter written to the GRA and published at http://thepogg.com/open-letter-to-the-gra/ where full details and analysis of the GRA’s response to this issue can be found. To find the GRA's statement see http://www.casinomeister.com/forums/online-casinos/57063-announcement-gra-concerning-hilo-reeldeal-games.html.
The Issue
Since 2004 until Jan 2013 some internet gambling games provided under licence by the GRA have misrepresented the likelihood of winning by saying that 100% of monies gambled are returned to players in the long run. In addition these games misrepresented card play as based upon a real deck of cards rather than operating with a fixed win percentage for the site.
The total amounts lost on these false games is not yet known. The GRA refuses to insist players are compensated for their losses on these games. They claim they are “insignificant”. If so our request that the total won by these sites misrepresenting the likelihood of winning will not be significant either. We ask that all players who lost money on these games advertised as equal odds be contacted and offered refunds for the money lost on these games.
Some players may have won on these games despite the long term certainty of losing – this means that if all those that lost do claim a refund the site may be out of pocket. In our view this is a reasonable punishment for having misrepresented the games offered. More likely the fact that the games have run for so many years means that losers contacted via out of date email accounts or using dormant accounts will not reclaim in full the total they are rightly owed. If after six months of attempting to refund players the sites net position still shows a gross revenue profit (yield) on these false games then all the gross profit(yield) remaining should be donated to charities dealing with problem gambling either for research or helping problem gamblers. Gambling sites should not be allowed to profit by misrepresenting their gambling games.
This petition was started as a companion to the open letter written to the GRA and published at http://thepogg.com/open-letter-to-the-gra/ where full details and analysis of the GRA’s response to this issue can be found. To find the GRA's statement see http://www.casinomeister.com/forums/online-casinos/57063-announcement-gra-concerning-hilo-reeldeal-games.html.
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Petition created on 21 May 2013