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Dormancy Fees and Withdrawal Limits Becoming Thing of the Past

Dormancy Fees and Withdrawal Limits Becoming Thing of the Past

Written by: Andrej Vidovic on 03/09/2018 09:25
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Big news that could change the face of the online bingo industry for the better has come from Competition and Markets Authority (CMA), which has warned the operators Jumpman Gaming and Progress Play against the foul nature of their dormancy fees and withdrawal restrictions...

The regulatory body is now demanding those predatory terms be removed from all websites owned by these operators and is issuing a similar note to other operators, companies and businesses in the industry who are expected to follow.

Long Time Coming:

Jumpman and Progress Play have, reportedly, agreed to remove these terms and conditions that proved to be a huge obstacle for players attempting to access their own money.

The two operators have already taken next steps to provide their players with fairer terms. They have agreed not to impose any maximum limit on the amount a consumer may withdraw and not to remove funds from accounts that have not been used for a specific timeframe, either through applying disproportionate charges or through confiscating the balance...

...In addition to this, Progress Play vowed not to remove all or part of players’ money if they do not meet their identity verification requirements, which was the practice until now.

This new regulation will come into effect immediately on bingo websites such as Stargaze Bingo, Zingo Bingo and numerous others that belong to these networks.

Changing the Face of the Industry:

Progress Play and especially Jumpman Gaming are among the industry's top companies, with Jumpman currently operating more than 60 websites, with the number growing by the day.

Imposing those measures on them will undoubtedly have a big effect on the entire industry. CMA's rules are strictly followed by the industry's big shots and their websites who are willing to keep their reputation intact by not getting on CMA's bad terms (pun not intended).

We will monitor this story closely and report on any future alterations other operators may make following this move.

Source: "Two online gambling firms provide undertakings to CMA".Gov.uk. August 29, 2018.

Comment: About time, too! Finally, Jumpman has been getting away with this far too long, this was long overdue, but finally we have fairer terms for players.

 

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