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Hi Folks, here is the reality of what is going on and you need to understand this to better judge how to run your business and cashflow.
With the loss of Neteller and several ACH processors the casinos have no option as to accept no deposits or to accept riskier ones. By accepting riskier ones your amount of new players may go up as well as you deposits amount but so does the risk of chargebacks.
The scam players no this and take advantage of this situation and that is just a fact. So assume in this chaoatic situation there will be unusual player activity and that chargebacks will follow.
If you are new to the business just get out, this is a time of turmiol, if you are an experianced player than decide if you want to ride the wave. If you are a whiner just go away, these are tuff times for all and if you can’t hang then just bail, just don’t cry.
Brian
lol brian, that is some sound advice at this point. one thing for sure is only the strongest will survive this ride.
Hi again all,
first I have no personal agenda with CC, other than the obvious which I acted upon a long time ago.
But now that said; are we to believe that this particular program has such an outstanding amount of fraud players in comparison to the others?
come on. a lot of this is simple and obvious.
islandmaan wrote:Hi Folks, here is the reality of what is going on and you need to understand this to better judge how to run your business and cashflow.With the loss of Neteller and several ACH processors the casinos have no option as to accept no deposits or to accept riskier ones. By accepting riskier ones your amount of new players may go up as well as you deposits amount but so does the risk of chargebacks.
The scam players no this and take advantage of this situation and that is just a fact. So assume in this chaoatic situation there will be unusual player activity and that chargebacks will follow.
If you are new to the business just get out, this is a time of turmiol, if you are an experianced player than decide if you want to ride the wave. If you are a whiner just go away, these are tuff times for all and if you can’t hang then just bail, just don’t cry.
Brian
Sorry mate, I am no whiner and have not done so through all of this.
Chargebacks into the tens of thousands, although it doesnt makes me whiney will make me a little irritated.
justred wrote:Sorry mate, I am no whiner and have not done so through all of this.Chargebacks into the tens of thousands, although it doesnt makes me whiney will make me a little irritated.
Exactly, calling people whiners when they’re losing 10k,20k,30k,40K in a few days isn’t exactly helping. All we want is straight forward answers and since I can’t get my emails returned this is where I turn.
So Professor is whining too? Come on Brian – we’ve all seen massive chargebacks on our accounts – the least we could get are some answers.
Islandmaan I have been in the business for nearly nine years and I have worked with Casino Coins from their begining. I have always been loyal to them and defended them when I felt they were being unfairly criticized, but in this case I cant ignore the data. There is something dramatically wrong and totally out of charecter with what I am seeing at any other program I work with.
I try my best to keep discussions here at CAP productive and geared toward seeking a resolution to a problem. We dont allow flaming or senseless bashing of programs, but when something IS glaringly wrong it has to be discussed and I dont consider that whining.
Yes, when discussion gets heated about a program we personally like it can be difficult to examine the issue and whats being reported objectively, but I think if you did so in this case you would have a better appreciation for why people are posting what they are posting.
Casino Coins, are you going to pay me the $800+ that you have owed me for a year now? I emailed you, but did not receive a reply.
Why aren’t we getting charge-backs from other properties?
I’m not getting rich this month but there are a few players and everything seems routine apart from the difficulty in depositing and withdrawing. Not one charge-back for months, now.
A bit fishy to my mind.
ntaus
I´m starting to think that I was right about not signing up with this group. :omg:
Hi Lou I so far have gotten hit with a negative $1,200 so far and I know alot of people have had a much higher hit than that.
In looking at my numbers i did expect this based on the fact that my sign ups for this month actually increased which is entirely unlikely due to the fact that Neteller has bailed on us. In fact I expected new sign ups to decrease 50%-75% this month due to Neteller and the fact that players cannot easily withdraw funds.
In speaking with Jared these players are depositing via ACH which is one of the only ways available and from experiance I know that ACH is a much riskier process and that the chargeback rate is significantly higher.
However you are right, as these are new deposits and I have yet to see the chargebacks associated with these new deposits, the chargebacks I have received must be from prior months. I will need to look further into the deposits I have received going back to November and see if I can find out where these came from.
Believe me if I believe something fishy is going on I will jump right on the bandwagon and voice my thoughts, I hate chargebacks as much as anybody.
Brian
these players are depositing via ACH which is one of the only ways available and from experiance I know that ACH is a much riskier process and that the chargeback rate is significantly higher.
This makes sense…
I would have a much more open mind if I had been paid as promised on numerous occasions.
At this point until I see my January commissions in MY bank account I am not a happy camper.
Net Profit
Chargebacks$3,172.96
$1,950.00There’s no way this is a chargeback issue. It’s more likely they lost a processor who kept a big chunk of change.
Whatever has happened it’s criminal that affiliates are wearing the cost in this fashion. If you run your business in such a way where you lose some cash, then you take a hit and learn from your mistake. You don’t penalize your marketing partners for something that is out of their control. Would they ask for a refund from a magazine ad if players sourced from that campaign deposited using a lost processor? Of course not!
The way some casinos process chargebacks is ludricrous at the best of times.
For example a player deposits $100 and loses it. The affiliate earns $25. Then a month later the player charges back and $100 is taken from our affiliate earn – why do we lose $75 earned off of other players! I know not all casinos manage chargebacks like this, but many do and it is ridiculous.
This Casino Coins situation is just an added dimension of screwing affiliates. And the only way to do anything about it is not to promote them anymore so other programs know not to try the same thing.
