Videoslots scam, a child falls into the well!
With its games portfolio and very fast payouts, the Videoslots Casino is one of the most popular online gambling halls in Germany. We too had it listed with us for a long time, but distanced ourselves from the fraudulent intentions behind the management many months ago. A provider who was generally considered to be reputable and reliable, not least who also enjoyed a good international reputation, converted to a rip-off place that you should avoid as a matter of urgency. But what happened to Videoslots Casino?
Secretly reduced payout percentages and cashback
The payout percentages on various slot machines from NetEnt and Play'n GO were reduced some time ago, sometimes from an average of 96% to 94%. That's a whopping 2%, which accounts for a significant portion of game winnings on a slot machine. That's not all, the whole thing happened secretly, it was neither announced nor pointed out to the players, so that this is actual fraud and intent. It cannot be ruled out that all this happened in the course of the UKGC, which sentenced the operator to a hefty fine in 2018 and wants to fraudulently get your funds back from the players.
UK regulator UKGC fined Videoslots Limited £2018m in 1. The verdict was pronounced on the operator due to non-compliance with the Money Laundering Act, lack of information from the partners on player protection and age restrictions, as well as the harsh measures of the English State Treaty on Gambling.
Because pretty much at this point in time, the casino not only reduced its payout ratios, but also cheated its players once again on the basis of weekly cashback promotions. From alleged 25% cashback repayments, only 1% is demonstrably refunded. The players were also not informed of this turning back of promised funds, and thus once again false facts were pretended.
Unethical Videoslots practices by customers and affiliates
It would all be nothing enough that an online casino deliberately deceives its customers, the provider goes one step further. Players and especially new customers have been tactically attacked for a long time now. An exciting process has emerged from an unproblematic Videoslots Casino known for its fast payments. Because as a player you no longer have to be happy about winnings, but much more when winnings are paid out. Various practices are used to encourage customers to refuse payments or to continue playing, which does not comply with the requirements of the MGA Malta or the British UKGC. Apparently the CEO Alexander Stevendahl doesn't really care what the supervisory authority thinks about it and accepts another penalty.
But the dubious Videoslots Casino does not stop at its partners either. For years, the partners have also been ripped off, since only a fraction of the promised services are actually paid out. In order for the casino to be on the safe side, they simply reinvented the terms and conditions from one day to the next in order to no longer pay out any services at all. Literally, Alexander Stevendahl (CEO) says:
Affiliates do a really good job, but they take all the profits
A ridiculous statement from a person in charge who, on the one hand, puts 90% of the income into his own pocket and, on the other hand, has suspended his partners with new clauses. It is therefore reasonable to assume that the owners want to secure funds until the casino closes its doors entirely. For a long time, nothing became public due to the cover-up, but now the company is being shot at from all sides. Hardly a day on which new machinations of videoslots do not see the light of day. Therefore, a warning about videoslots is unavoidable. Because it is not uncommon for providers to disappear overnight and you never see your funds (payouts).
So if you continue to play at this fraudulent Videoslots Casino, you do so at your own risk. We can no longer recommend such an online casino to you and are glad that we parted ways with this company many months ago.
