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Off topic & small talk: Platincasino is so lying!!! Don't let them cheat us (Page 4)

Topic created on 05th Jun. 2021 | Page: 4 of 6 | Answers: 59 | Views: 9,303
u****n

Platincasino is so lying!!! Don't let them cheat us

6th Jun. 2021, at 11:19 am CEST#23
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TheJoker wrote on 06/06/2021 at 09:54 AM
People are allowed to set up loss reserves? Not bad
Litigation costs is always a thing too.

Yes one is allowed and even has to. Many companies are listed on the stock exchange and have to offer their shareholders an honest and reliable picture of the economic situation, which also includes the formation of such provisions in the event that one is sued and does not suffer any! financial losses. Everything that ultimately remained in the provisions and was not needed can then also be reversed, resulting in "other income" from the reversal of the provisions

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Dutch78
Expert

Platincasino is so lying!!! Don't let them cheat us

6th Jun. 2021, at 12:46 pm CEST#24
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unicorn wrote on 05.06.2021 at 17:58
People here don't really understand much about economics. Every reasonably positioned company forms so-called THREAT LOSS PROVISIONS

But don't these provisions for contingent losses apply exclusively to pending transactions and are therefore mutually exclusive?

The customer's Deposit and the casino's provision of the service constitute a fulfilled contract.
The imparity principle is excluded here, since performance and consideration are balanced, or am I seeing this wrong?

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u****n

Platincasino is so lying!!! Don't let them cheat us

6th Jun. 2021, at 01:18 pm CEST#25
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Dutch78 wrote on 06/06/2021 at 12:46 PM

But don't these provisions for impending losses apply exclusively to pending transactions and thus exclude each other?

By Deposit of the customer and provision of the service by the casino it is a fulfilled contract after all.
The imparity principle is excluded here, since performance and consideration are balanced, or am I seeing this wrong?

if there is no contract or if it is not legally binding under German law due to illegality, then it remains a pending transaction throughout. In the most extreme case it will come to a lawsuit anyway, so in this case these kind of provisions come into play. But it's not important, it's more about the principle that there is such a thing as provisions and that the casino is prepared for it in any case. There are also other types of provisions, such as goodwill provisions, for which you do not need a legal basis and can also form without contractual obligations.

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T****i

Platincasino is so lying!!! Don't let them cheat us

6th Jun. 2021, at 01:42 pm CEST#26
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Wutmaennchen wrote on 05.06.2021 at 15:46: This is rather advertising for Platincasino, instead of the opposite.

why?

legally it is complete nonsense that you write.

and why is OP so hostile here?

The legal situation brings so many disadvantages for us customers, then you can but the only advantage, namely the refund of funds due to lack of legal basis under 812 BGB.

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T****i

Platincasino is so lying!!! Don't let them cheat us

6th Jun. 2021, at 01:55 pm CEST#27
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unicorn wrote on 05/06/2021 at 17:44
Yes it does, the one-way street remains. Casinos can not invoke German law, 1. because they are located in Malta, 2. because they justify all their actions under European law and it is legal from this point of view due to the freedom of services

which is, of course, nonsense. the casinos could, of course, also reclaim the winnings paid out, because there is no valid legal basis for this either.

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Dutch78
Expert

Platincasino is so lying!!! Don't let them cheat us

6th Jun. 2021, at 02:04 pm CEST#28
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unicorn wrote on 06.06.2021 at 13:18
if there is no contract or it is not legally binding under German law due to illegality, then it remains a pending transaction throughout. In the most extreme case it will come to trial anyway, so in this case this kind of provisions come into play. But it's not important, it's more about the principle that there is such a thing as provisions and that the casino is prepared in any case. There are also other types of provisions, such as goodwill provisions, for which you do not need a legal basis and can also form without contractual obligations.

Just for my understanding, a contract that is nothing legally binding can't be pending at the same time, it is to be considered void from the beginning (Ex Tunc).

The provisions that may be formed relate only to pending, i.e. granted processes, whereby the balance sheet date also counts here, costs for possible processes in the future cannot be provided for at all.
The business Risk that Online Casinos will certainly have with regard to upcoming lawsuits, however, does not entitle them to form provisions, because business risks and provisions are generally mutually exclusive.

Basically, however, we both agree that casinos have enormous amounts of money at their disposal, only I would call these reserves.
Most of them will certainly have calculated for repayments, and it should not be unexpected for them if players demand their money back. In percentage terms, this should be within limits and in view of the large wins that are made, these will certainly be paid out of good old petty cash.
I can even understand to a certain extent when players try to reclaim their losses, leaving ethics and morals completely aside.
If livelihoods are affected, it is certainly a good way to go.
The only thing I don't understand is when the repaid money is used to immediately Deposit it in another casino, in order to possibly go the same way if one should lose here as well, because then at least the basic idea of intent is the basis here.

In the end, however, it really doesn't matter how you title and describe the whole thing, the casinos will always come out as winners in the long run.

Love to you, I wish you a nice Sunday and enjoy the weather I for my part will make times the ice cream parlor in the area unsafe

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Butterbrezel
Elite

Platincasino is so lying!!! Don't let them cheat us

6th Jun. 2021, at 02:08 pm CEST#29
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Tolinski wrote on 06/06/2021 at 13:42
wHY?

legally it is complete nonsense that you write.

and why is OP so hostile here?

The legal situation brings so many disadvantages for us customers, then you can but the only advantage, namely the refund of funds due to lack of legal basis under 812 BGB.


There are 2 sides - the legal / economic and the emotional.

Nobody forced the user with force of arms to Deposit his money at casinos. It was his free decision, so also his responsibility. From mistakes, if he sees it as a mistake, one should learn. A reclaim of the voluntarily lost money is just n pretty bitch move

If he would have had a Big-Win, where he would have been in the plus in total, it would never have come to a reclaim and this thread. Or would the user have voluntarily returned his wins, which would then also be illegal?

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T****i

Platincasino is so lying!!! Don't let them cheat us

6th Jun. 2021, at 02:18 pm CEST#30
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Wutmaennchen wrote on 06.06.2021 at 14:08
There are 2 sides - the legal / economic and the emotional.

Nobody forced the user to Deposit his money at casinos by force of arms. It was his free decision, so it was also his responsibility. From mistakes, if he sees it as a mistake, one should learn. A reclaim of the voluntarily lost money is just n pretty bitch move

If he would have had a Big-Win, where he would have been in the plus in total, it would never have come to a reclaim and this thread. Or would the user have voluntarily returned his wins, which would then also be illegal?

ok, let's look at the emotional / moral level.

If I bet with a private person, lose, and then get the idea to invoke the law and not pay because he can not sue for the money anyway, I'm the biggest asshole in the world, no question.

But when I gamble with a company whose business concept is to offer people illegal gambling, my sense of honor is somehow limited.

Sure, I get what I pay for, but pokerstars confiscated 6000 from me and Unicorn (how appropriate) limited me after the first night I had a run and then directly banned me and confiscated my wins.

Illegal gambling is now a kind of predator business, you eat or you get eaten.
The corporate sharks eat the customer fish by refusing payouts, blocking accounts or exploiting obvious gambling addictions, and are eaten by customers who withdraw their deposits/direct debits.


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Butterbrezel
Elite

Platincasino is so lying!!! Don't let them cheat us

6th Jun. 2021, at 02:24 pm CEST#31
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Tolinski wrote on 06/06/2021 at 14:18
ok,let's look at the emotional/moral level.

If I bet with a private person, lose, and then get the idea to invoke the law and not pay because he can not claim the money anyway, I'm the biggest asshole in the world, no question.

But when I gamble with a company whose business concept is to offer people illegal gambling, my sense of honor is somehow limited.

Sure, I get what I pay for, but pokerstars confiscated 6000 from me and Unicorn (how appropriate) limited me after the first night I had a run and then directly banned me and confiscated my wins.

Illegal gambling is now a kind of predator business, you eat or you get eaten.
The corporate sharks eat the customer fish by refusing payouts, blocking accounts or exploiting obvious gambling addictions, and are eaten by customers who withdraw their deposits/direct debits.



I also didn't say in any word that casinos/gambling operators are nice companies. Definitely no. It's just about taking your money away. But that only works if you use it voluntarily.

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u****n

Platincasino is so lying!!! Don't let them cheat us

6th Jun. 2021, at 02:44 pm CEST#32
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Dutch78 wrote on 06/06/2021 at 14:04


The provisions that may be formed, but also refer only to pending, thus granted lawsuits, where here also the balance sheet date counts, costs for possible lawsuits in the future can not be provided for.
The business Risk that Online Casinos will certainly have with regard to upcoming lawsuits, however, does not entitle them to form provisions, because business risks and provisions are generally mutually exclusive.


Why can't costs for possible lawsuits in the future be accrued? After all, that is the point of accruals, costs in the future that are highly certain to occur, but whose amount cannot be precisely determined. The most important are tax and pension provisions. However, one should not orient oneself on the German Commercial Code (HGB), which only applies to German commercial law, but rather on the international IFRS, according to which the Malta Casinos carry out their accounting.

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