Online Casinos In Switzerland Undergoes Major Payment Issues

payment issues
Reading Time: 3 Min
Image: Shutterstock
The online casino market of Switzerland has not even completed one year, and now it’s in front of its very first controversy regarding payments. In mid of June, the Swiss media revealed, about some customers of two licensed casinos, who had lost their money in their casino accounts.

The Swiss reporters have also published that during their initial survey, more than thousands of francs were missing from the customer’s account. Now, casino authorities and government are looking for the reasons behind this major event.

The Cause Behind the Payment Controversy

The Swiss reporters claimed that victims have transferred money in their online casino accounts through an internet platform called PostFinance. The next day when they checked their accounts, the balance was lower than before.

The media had also observed that these issues were only faced by the customers of two specific online casinos mainly and Stadt casino Baden Group runs these two online casinos. Moreover, these casinos are well known as the first online platforms to conduct their operations under the regulations laid by the Swiss government to run seamless gambling.

Furthermore, PostFinance is recognized as one of the most trustworthy and safe platforms for withdrawing as well as saving money to the accounts of online casinos. This internet platform also has several inbuilt security protocols including attempts to avoid immoderate withdrawals.

During the initial investigation, the reporters published that an update was released by PostFinance on March 17, 2020. This update may have activated several events and caused the current scandal in the casinos.

Just after the launch of the update, various customers, who have accessed PostFinance to transfer the amount into their casino accounts have started to report this issue. Most of the issues also claimed that no amount was debited to their accounts of online casinos.

This technical issue was not known and unresolved until the end end of May. Although the majority of customers have raised this problem, there were still some people whose issues were not reported. This issue aroused from the second week of May.

Moreover, some customers claimed that their casino accounts went into negative due to the lack of payment deposits. As a part of security, PostFinance ceases these negative accounts after which the customers cannot access it.

The Company Compensates For The Loss Of Its Customer

Detlef Brose is the CEO of Baden Group. After reviewing the report on this problem, he declared that the company will reimburse for the ones who are affected by this problem. He concluded that all the loss of services during this one month will be repaid to the affected customers.

However, this is a part of their welcome development, and the customers who have transferred their money into their accounts after May 10 would not be given any compensation. Moreover, PostFinance will only support customers in terms of providing payments whose balance has become negative due to technical error. The media also claims that more than thousands of customers were affected by this technical error.

Since the approval for Swiss new regulations, the casino authority has granted a license to seven casinos. Still, several casinos operate without a license in the country, and various eligible platforms are also not launched until now. In the latest report, two casinos of Stadtcasino Baden had gained over 8 million dollars. It is their combined income till the end of 2019.

These online casinos that are at the center of the controversy have partially balanced the loss of revenue. It is done when the government instructed them about the closing of casinos during the COVID-19 pandemic. Now, these casinos are reopened and had started their services since the first week of June.

Read Also: