Chargeback In Online Casinos: How It Works And Is It Possible To Get Back The Money You Lost

Chargebacks have become quite common in today's world. In the online gambling industry, there are many cases where players want their money refunded. While many online casinos such as 7 Slots giriş will willingly negotiate a chargeback, some will outrightly refuse. Even when the claim is genuine.

This article looks at the chargeback process in detail and explains scenarios where you should initiate the process. It also highlights a step-by-step procedure for starting the chargeback process. Continue reading to discover if you qualify for a chargeback.

What Is A Chargeback In Online Casinos?

When a player disputes a transaction in an online casino, it's up to the casino to determine whether or not to refund the money – a process known as chargeback.

Due to the increased number of chargeback cases, there is a growing concern for online casinos and payment providers. According to reports published online, it is expected that the cost of chargebacks will exceed $1.5 billion by the end of 2025, up from roughly $700 million in 2020.

The chargeback process is usually time-consuming and sophisticated. It can last at least one week to months, depending on the complexity of the matter and the amount involved.

Common Reasons For Chargebacks

There are many reasons players initiate the chargeback process in online casinos. The most common reasons for chargebacks include the following:

• Unauthorized charges

• Fraudulent practices

• Friendly Fraud

• Breach of terms and conditions

There are plenty more reasons why a chargeback might be initiated at the casino, but these are genuine. In the event an online casino refuses to honour a refund, you can take them to an independent body for arbitration.

Fraudulent Practices

The internet is filled with rogue online casinos, operating without licenses and are not regulated. Such businesses engage in fraudulent activities such as manipulating the game's outcome or double charging you for transactions made to the website.

Therefore, if you realize you've been a victim of such a con, you should immediately request a refund. If the casino fails to honour the request, report them to an independent regulator. This body will stop the casino's operations and add it to the industry blacklist.

"Friendly Fraud"

Sometimes, you might mistake a charge to your bank account or debit/credit card for fraud, yet it was actually initiated and completed from your end. This mostly happens when you don't recall authorizing the transaction, yet someone from your household or a friend made it.

Unauthorized Charges

This is the same as friendly fraud, but in this case, it is genuine that you were charged and didn't authorize the transaction. If you notice a transaction on your account that you did not authorize, call your bank immediately and have them suspend any further transactions until the pending issue is resolved. Get the details for the transaction and contact the casino for clarification.

Breach Of Terms And Conditions

If the online casino fails to honour its end of the bargain outlined in the T&Cs, especially regarding transactions, you have the right to initiate a chargeback. Examples of breaches of T&Cs include unfair game practices, refusing to honour promotions and bonuses, or withholding your winnings without any valid reason.

Online Casino Chargeback Process – A Step-By-Step Procedure

Once you've established you qualify for a chargeback, there is a procedure you must follow. Here is a step-by-step guide to help you recover your money.

• Gather evidence: any information you think is useful to the case should be gathered. This included transaction records and any communication between you and the bank regarding the matter.

• Contact customer support: reach out to the support team regarding the matter. Share the gathered evidence and provide any useful information they ask for. Let them handle the process.

• Follow up on the issue: if it takes more than two weeks, follow up on the issue with the customer support team

• Wait for a verdict: the support team should give you a verdict regarding the same issue. If they refuse to honour the chargeback and feel it's unfair, escalate the matter with an independent third party.

Independent bodies that arbitrate chargeback cases in the online casino industry include the eCOGRA, IBAS, Blexr Limited, ProMediate, among many others. They've been licensed and approved to offer arbitration services, and the decision they make is final.

How Often Are Online Casino Chargebacks Successful?

The success rate varies depending on many factors. This includes but is not limited to circumstances surrounding the casino's terms and conditions. However, many online casinos will refuse to refund you the money, and it will hardly be possible for independent arbitration bodies to approve them, especially when a licensing online casino is involved.

Conclusion

While initiating a chargeback with online casinos is possible, it’s not guaranteed it will be approved every time. To avoid finding yourself in such a situation, ensure you sign up with a reputable and legitimate brand. Run background searches on the casino and pay keen attention to its reputation for handling player complaints.