Cobra Casino - Player is criticizing withdrawal limits.

They have a withdrawal limit of 500 USD a day for new costumers( it must be by far the lowest in the business, most others have 4-5000). It takes an average of 2-3 days to process one withdrawal. If you make a withdrawal every day they will just cancel them as they will not let you have more than 500 dollars ongoing. I won approx 4000 dollars and with the current tempo it will take a month to receive them. The support is not very helpful either. I have spendt hours to get some understanding. So far I only got one understanding support agent and she could not do much about it. When I asked on mail the reason for the low limits and the slow process it have been 4 days now and no answer.

Dear Lars,

Thank you very much for submitting your complaint. I’m sorry to hear about your negative experience. I have checked terms and conditions, and this is what I found https://www.cobracasino.com/terms-and-conditions:

"The maximum withdrawal amount processed to a player will depend on their VIP program level. For Experienced and Master levels it is €/$ 1,000 per day, €/$ 5,000 per week and €/$ 20,000 per month. For all other levels: €/$ 500 per day, €/$ 2,500 per week and €/$ 10,000 per month. Note that, for security and transparency reasons, we do not process withdrawals on bank holidays and weekends."

Could you please advise what’s your loyalty tier? Have you received any partial winnings already? Which payment method you have opted for? I understand that it might seem like a lot of questions, but all the requested information is essential if we wish to proceed with this case. Thank you very much in advance for your reply.

Best regards,

Petronela

Hi.

Yes, I have got to payments of 5000 nok each from the 17th and the 18th sept. I have one pending since the 18th. The money have not entered my account, but thats probably a question of time.

I use bank transfer and my "level" is "newbie" since i won on the day I registered. The normal in this branch limits is 4-5000 dollars pr payout, and often you can do several withdrawals pr day

My worry now is that I cant make another withdrawal before they have processed the one pending since the 18th. This mean if they use 2-3 days of processing it will only be 2 withdrawals pr week as they do nothing in weekends. This is unacceptable and must be the worst in business. They dont have a guarantee time for processing withdrawals ( most say within 12/24h but normally it only takes hours when the documents are in place) -

Thank you for the help. Are you a gouverment site or some private site working for free?🙂

Thank you very much, Lars, for your quick reply. Unfortunately, since your VIP level is "newbie", there is not much we can do for you. We are not in position to recommend higher withdrawal limits. Additionally, it is nothing unusual to wait for a withdrawal process to take a few working days, even if I understand that the maximum amount could be higher.

I will leave this complaint opened until you will be able to confirm that all the funds have been received successfully. Thank you in advance for your understanding and cooperation.

Regarding your enquiry about our site, please check https://casino.guru/about-us. 

Hi. The main problem here is not the laughable daily limit of 500 dollars. As you say, they have a right to put any limit they want and I should probably be happy the limit is not 20 dollars.

The main problem for me is that i want to withdraw my 4000 dollars in a reasonable time. It does not matter if they have a daily limit of 500 dollars when they will not let me do a daily withdrawal. It should take 8 days, but with the speed they are at at the moment it will take at least a month, and that requires that i check my account every day to see if i can make another withdrawal.. Its totally unacceptable for any site.

Hello,

As I mentioned earlier, we’re not in position to change withdrawal limits or processing times. If you would like to share your experience and make your opinion widely known, I’d recommend our Forum https://casino.guru/forum.

Unfortunately, the only help I can offer at this time is to leave this complaint opened until you’ll receive all your winnings. Please let me know how you would like to proceed. I wish I could be of more help.

Dear Lars,

We are extending the timer by 14 days as I would like to receive from you at least a partial confirmation regarding first successful withdrawals.

Please keep me updated, otherwise, I will be forced to reject your complaint.

Hi. I have received 2500 of the 4000 dollars I had. However , this week there have been none so far(the last accepted withdrawal request made sept 23d, thats 9 days ago). The last two weeks I have got 2 withdrawals ( 500 each) pr week. They have also started to send me mails, reminding me that I have money in my account that are ready to be used. Its quite funny, who will play at a site that, if you are lucky enough to win, will use months to receive the gain? Its more than likely that the players who have won will not have the patience to follow this up and rather gamble the money away. I`m sure this is why they do this. Its cynical and calculated esp against players with gambling problems. If they cant make the withdrawal fast they will just gamble away their profit..

I understand entirely your point, unfortunately, there's nothing we can do to change it.

However, staying positive and waiting patiently for more good news. Please keep me informed regarding any development. 

Hello Lars,

Have there been any developments since our last conversation?

Dear Lars,

Have you received your winnings? We are extending the timer by 7 days. Please, be aware that in case you fail to update the status of your complaint in the given time frame, we will reject it. Looking forward to hearing from you.

Unfortunately, we’re rejecting this case because the player hasn’t responded to our messages and questions. Therefore, we’re not able to proceed with a further investigation or suggest possible solutions.

The player can reopen this complaint anytime.