Bovada Welcome Bonus Withdrawal Requirements

[plan1036]

Tried to find another thread on this and didn't see anything - apologies if this has been covered before.

New customer to Bovada - made my first deposit in late October 2012 and received a 50% "Welcome Bonus" free bet. My deposit was $475, so I received a $237.50 bonus. I subsequently used that full free bet on a line around -300 or so, winning me $73. Details of the bonus are listed here: http://sports.bovada.lv/content/spor.../welcome-bonus

Fast forward to this week - my balance is around $500. I request a $200 payout and am informed a couple days later that it will not be processed, since I have not met my rollover requirement of $2,137.50 ($475 + $237 bonus * 3). I call customer service, and they tell me that since I have not yet met this requirement, they will not process ANY withdrawal.

Is this correct? I would expect that the $73 would be unavailable to withdraw pending rollover - that's what I won with the bonus (which was a free bet, not funds applied to my account). But all amounts up to that should be available for withdrawal, no? Otherwise, they are essentially taking my entire deposit the instant I make it, assuming that I don't fulfill rollover.

Thanks in advance for the guidance.

[SBR Lou]

Hi plan1036,

Welcome to SBR forum.

Correct, the terms of that offer were to rollover the deposit+bonus 3 times. You would not be able to cash out until you do so. This is a standard at most places.

[plan1036]

SBR Lou - thanks for the quick response!

Can you show me where those terms are disclosed? If you look at the link I provided, it says:

"If a withdrawal is made before the bonus terms are met, all bonus funds AS WELL as any money earned by wagering the bonus will be forfeited."

There's no mention of not being able to make a withdrawal at all.

Thanks!

[Hankwins]

that is an extremly low rollover, deal it it and move on.

[plan1036]

My issue isn't the rollover - it's that the disclosure says that bonus winnings will be forfeited if the rollover isn't fulfilled, not that my entire bankroll is off limits until the rollover is fulfilled.

Am I misreading or is their enforced policy completely different than what is listed in their terms?