The online bingo industry has been rocked recently with the news that new government legislation will affect how bonus cash is taxed in the UK. This has led to many online bingo developers having to rethink how they will offer new players a welcome bonus or introductory offer.
Dragonfish seems to be leading the way with many new changes set to take place across all of the company’s brands. We’ve managed to get a hold of the latest info which you will find below!
New Withdrawal Requirements & Limits
The UK Gambling Commission is set to introduce new regulations with regards to withdrawal limits and these are already being welcomed by players all over the UK. Online bingo brands that are powered by Dragonfish have now had their max withdrawal limits removed. This is certainly proving to be exciting news especially for high-roller players who have a high turnover of funds every month when they play on their favourite Dragonfish sites.
Previously, there were limits set on how much could be withdrawn per transaction on Dragonfish sites which were set at £1000 each day or £2000 each week. Each month players could withdraw a total of £3000 on bingo brands and around £5000 on casino brands but this is all set to change. Now players will be able to withdraw balances that exceed the former caps all in one convenient transaction.
Changes to No Deposit Bonuses
Dragonfish has also overhauled its bonus policy to try and improve conditions for players as well as fall in line with the new legislation that has now taken effect. The first major change is that no deposit bonuses now actually require no deposit.
Not every Dragonfish brand offers a no deposit bonus but when they do, players will no longer be required to make a deposit in order to withdraw winnings. This is a welcome change and once the wagering condition has been met then players will be able to withdraw funds as real cash.
A no max cashout no deposit bonus sounds great for players who are winning big every week but what about the players who simply want to withdraw more modest sums of cash? Well, there is good news on that front as well!
The original minimum withdrawal on Dragonfish bingo sites was set at £30 but this is set to change and from now on you will be able to withdraw a minimum of £5. This is fantastic news for players who like to play bingo for smaller sums of cash and we can really see this change attracting bingo players from other networks.
The new funding requirements certainly appear to be an improvement on the previous requirements but how long will they last? The new changes are pretty solid but there is doubt about the future of the no deposit bonus. With new taxation laws also coming into play we can see these types of offers generally beginning to fade out and we’re already seeing this from certain bingo brands.
However, with wagering requirements becoming more reasonable this might not necessarily be a bad change. Nonetheless, we will continue to monitor developments and bring you more info if and when we get it.