Instant cashout vs approved cashout: player convenience or greater control over funds for casino owner – SOFTSWISS can offer the right balance with intelligent algorithm.
It is not a secret that cashout process is one of the most irritating procedures in online gambling industry. When player makes a deposit at online casino it is only a matter of minutes. If luck has been on the player’s side and they request a cashout – all of a sudden it turns into quite a procedure. In times when everyone is so concerned about protecting their identity on the web, casino that you only recently started playing on requests your personal documents to process a cashout. Even if all checks out, with time it takes for casino team to review and approve the cashout, funds may take around a week and even more to land in your account. However, the vast majority of reputable licensed casinos will do everything in their power to process cashouts in a timely manner and will never use player documents for anything other than confirming their identity. After all, Know Your Customer is a typical stage for any business related with accepting and transferring money.
Now, looking at it from casino owners’ standpoint, the approval process is important not only as past of the KYC. Online casinos popular with players also have to be concerned with risks of inside foul play, fraud or money laundering. This makes the review of cashout, including player documents, history of bets, playthrough and deposits etc. casino staff’s last chance to prevent unearned funds from being paid out. However, some forward looking casinos have already implemented instant cashouts, giving them a strong competitive edge. Emergence of the Bitcoin shifted the balance in favor of instant cashout since cryptocurrency is fully anonymous making verification pointless. So is there an optimal balance between players’ interests and owners’?
After careful analysis, team at SoftSwiss decided to develop an intelligent algorithm that helps resolve the issue. Our software tracks a number of parameters including cashout amount, player’s deposit and bonus history, betting patterns, unusual winning spikes and several other factors. If cashout clears certain checkpoints, it is released to the player immediately. In case it fails to clear even one parameter, cashout is flagged and brought to the attention of administrator. Casino staff can then review all the aspects and see if the cashout is legit or not. Solution can be fine-tuned according to owner’s preference for each parameter value. Thus, SoftSwiss provides its customers with another valuable tool aimed at making customer experience more pleasant while keeping close watch over their casino’s cashflow.