Can someone put me right on this, please?
I open an account and receive a deposit bonus - say £100 deposit and £100 bonus. Rollover requirements are three times deposit and bonus, i.e. bet at least £300 before you can withdraw. I make a couple of bets and lose the £200.
I reload another £100 and receive 50% reload bonus, i.e. £50. The rollover conditions are the same. I bet my £150 and lose.
I have a losing streak and carry on in the same way until I've lost deposits and bonuses of, say, £1,500.
I deposit another £100, receive another £50 reload bonus, giving me another £150 to play with. Now I have a winning streak and quickly run up to a pot of £1125 [rolling the £150 over more than three times.
I try to withdraw some of the money. The bookie says "No, you have to roll over ALL your deposits and bonuses three times, including all your losing bets." So I have to make bets totaling £4,500 before I can withdraw anything.
Unless my winning streak goes on, this is impossible. If my winning streaks ends - as it will, of course, and if I want to carry on with this bookie, I will require to deposit more money, and receive more bonuses, which will, of course, be added to the total I have to roll over before I can receive any winnings.
Is this normal practice with all bookies offering reload bonuses? If so, is it reflected in their terms and conditions?
The sums mentioned above are notional, but I am in this position with one bookie, and except that I walk away from my account I do not see any way out of the dilemma.
Thanks for any advice