gogo- I didn't recommend Coinbet. Posters said they were an "A" book. That's why the had a "C" rating. I'm not going to put Coinbet on our recommended list at this time Coinbet opened Jan 1, 2014, and they are located in Panama. Coinbet is offering the biggest bonus in the business right now at 125%. They also have the lowest hold and best lines in the business for Bitcoin books.
Coinbet got off to a very rough start with reports of slow plays a few days long for sports book players. There were also problems with the casino. We focus solely on the sports book so are unsure what happened with the casino. Payouts have become much faster now that things are automated. There have been payouts for large amounts. Coinbet does not have any no pays in their sports book.
Hopefully, for the players, Coinbet just had a couple of hiccups and things have turned around. [b]I'm not going to put Coinbet on our recommended list at this time.[/b] Our standards are very high. In order to be on a recommended list, a book must show a history of immediate payouts. Coinbet may have jumped the gun. If not for that slow start, Coinbet would be one of the best books for your arsenal. For the above reasons, Coinbet is unrated at this time. |
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I just hope that there is some way for BitcoinzRulez to recover his money by any means that he chooses.
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I read the OP in full, didn't read the rest of the thread.
Great story, great to have an exchange by an intelligent person shown in the Bitcoin community even if it's a painful one. Thank you for making a detailed story and not just another "OMG these guyz are scammerz" posting. I could read these all day.
OP was great there and helped us all. Now he wants to ruin us. I certainly dont want to ruin anyone (other than shady books). If its not in everyones and bitcoins best interest i will not talk about it with simon. beyond that i'm not sure what else to say on the subject. however, coinbet has clearly rebranded already as 2 additional books with almost identical websites and banners and made off with god knows how much of our money. if this ends right now with this final post, coinbet and those people win and ALL OF US and future players lose. I wish that I could help in some way. I did rate the two other books an "F" based on findings in this thread. We will hurt their bottom line since bitcoin players see this forum. If you or others find more, please post. Thanks |
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"A" rated books
Anonibet A (2011)
"B"rated books
NitrogenSports B+ (2012)
"C" rated books
Casinobitcoin C+ (2013)
Cloudbet C+ (2013)
SBObitcoin C+ (2013) *
Betcoinsports C (2013)
DirectBet C (2013)
Jetwin C- (2013)
BetOWI C- (2014) *
Bitbm C- (2013)
"D" rated books
Coindraft D+ (2014)
Roadbet D+ (2012)
BetVIP D+ (2014)
Bitcoinlivebets D- (2013)
"F" rated books
BetCas F
Bitcoinsport F
Coinbet F
Sportbet.im F
StakeBTC F
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Can you please give BetCas and Sportbet.im a grade of FFFF-?  Are you sure that they are the same? BetCas in business longer. |
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It looks like Coinbet is going to stick to their liquidation story. This is similar to their fake $1m Super Bowl contest and March Madness contest.
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I'm not familiar with casinos but my feeling is that the bitcoin sports books are much more honest than the cash books. The customer service is better with the bitcoin books since you interact with people that can make decisions. Your input means something in the bitcoin community.
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If you guys want to send my your Coinbet account number and balance, I'll put it all together and try to work out a settlement agreement with Coinbet.
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If you guys want to send my your account number and balance, I'll put it all together and try to work out a settlement agreement with Coinbet.
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It has come to our attention that players are having problems with a bitcoin casino called CoinBet.cc, according to threads on BitcoinTalk.org
We will not be linking to them in this post, because we do not want to send an alleged scam site any traffic. However, in the spirit of full disclosure, CoinBet has previously advertised on this site, and paid for promotional posts on our feeds on reddit and other sites, but it is now our recommendation that players avoid depositing on CoinBet for the time being. We prefer not to jump to conclusions or put an advertiser on blast like this, but it’s not looking good for them right now.
UPDATE: It has now come to our attention that on the date of one of our recent press releases, one of Coinbet’s players “coincidentally” received an email from a Coinbet executive that just so happens to have the same name of BitcoinSource’s CTO. It’s not clear at this time whether they actually have someone on staff with the same name, or if they just lifted the name directly out of our press release to lend legitimacy to their scam (the latter seems much more likely), but we are investigating either way and will post if we find more info. BitcoinSource has no affiliation with Coinbet, other than the fact that they purchased paid advertising on our news portal and feeds.
We highly recommend that the bitcoin community avoid Coinbet like the plague, and withdraw any funds deposited there immediately.
If anyone from Coinbet, or any one else with any info, would like to contact us with any information that could help in our investigation, please do so using the contact us page on this site. We would especially like to hear from John Bauer, the apparent owner of Coinbet and VP of operations, but we will not be holding our breath. http://bitcoinsource.net/problems-coinbet-casino/ |
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Wait Pinnacle sports accept BTC?
You can use SBOBitcoin to play at Pinnacle using bitcoins. SBOBitcoin will exchange the bitcoins for Singapore of Hong Kong dollars and you can play there. |
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Please post complaints if you are having problems dealing with a book on your own. Try on your own first but don't wait too long. Balances are high at Coinbet and they are stiffing multiple players. If a book doesn't pay or slow pays one person, they will be downgraded.
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I wish that something could be done in the form of a bailout. Many times books require matching funds with bailouts. Because some of the balances are so high it doesn't make it realistic. It's unfair to the player to match a deposit that high. It's also unfair to a book to ask them to help with a bailout for this type of money.
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Legion- I agree with a lot of what you say but in no way can you blame OP on this. He didn't ruin it for the players. Coinbet sucked us all in with their rules. Everyone was afraid to speak up. Excuses such as rollovers forced OP to play this much. If complaints were to come in, as the would with other books, OP would never had let his balance grow that big.
There's a alot that we disagree with for post up books. BetPanAm was new and stiffed us millions. SBRJohn was partying with them in Panama and they stiffed players after that. SBRJohn refused to help. Heritage is invite only unless you go through SBR and you'll get booted and limited. Cash books are for another thread so this is the last I'll post about them here. It doesn't help anyone here owed money.
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I would also add that a book that accepts these kinds of deposits and has the wagering limits that allow for 10k bets, should be made accountable and obligated to PAY out when they do lose. Obviously. Any other train of thought is just asinine and moot. When it is determined that the site is then scamming and lying, what would you have people do then? Keep their mouth shut while other people get ripped off?
Ok then let me also tell u guys this another time, go to SBR if u want to be treated like this and pick an A rated book. U guys better not expect to get what your looking for with Bitcoin books that when something goes wrong u can guarantee your $ is safe. How hard is this to understand that you are gambling with your $ here, when u guys understand the risk involved then we are on the same page until then all these "proper ways" to run a book just won't work. There are books that SBR had rated "A" and "B" that have stiffed players for similar amounts. Hey did I once say anything is 100% guaranteed? Didn't come out of my mouth, I did say anything can happen at any given time but to have a 99% chance of getting paid from an A rated book of 340k is good in my book. If your scared to have your $ in places like Pinnacle, Betdsi, Bookmaker, Heritage, then you shouldn't even be betting in offshore books. Sorry I just had to clarify this. Camelot Aces Gold Bet PanAm WSEX Cascade Legendz All "A" and "B" that went down. Some took well over $1m with balances larger than BitcoinzRulez |
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I would also add that a book that accepts these kinds of deposits and has the wagering limits that allow for 10k bets, should be made accountable and obligated to PAY out when they do lose. Obviously. Any other train of thought is just asinine and moot. When it is determined that the site is then scamming and lying, what would you have people do then? Keep their mouth shut while other people get ripped off?
Ok then let me also tell u guys this another time, go to SBR if u want to be treated like this and pick an A rated book. U guys better not expect to get what your looking for with Bitcoin books that when something goes wrong u can guarantee your $ is safe. How hard is this to understand that you are gambling with your $ here, when u guys understand the risk involved then we are on the same page until then all these "proper ways" to run a book just won't work. There are books that SBR had rated "A" and "B" that have stiffed players for similar amounts. |
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Hi,
So no reachout from them after this thread started?
I sent them an email after the thread was started. They have always replied in the past. This time they didn't reply. I'll call them later today to see if they will at least talk on the phone. |
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Coinbet was able to put a muzzle on players because of their rules. They were able to sneak up on us players because of this. In the future if a book puts in a rule where they can confiscate funds due to negative press, they will be rated "F".
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"A" rated books
Anonibet A (2011)
"B"rated books
NitrogenSports B+ (2012)
"C" rated books
Casinobitcoin C+ (2013)
Cloudbet C+ (2013)
SBObitcoin C+ (2013) *
Betcoinsports C (2013)
DirectBet C (2013)
Jetwin C- (2013)
BetOWI C- (2014) *
Bitbm C- (2013)
"D" rated books
Coindraft D+ (2014)
Roadbet D+ (2012)
BetVIP D+ (2014)
Bitcoinlivebets D- (2013)
"F" rated books
Bitcoinsport
Coinbet
StakeBTC
* longer accepting cash deposits
Maximum grade based upon time in business:
A - 2 years
B - 1 year
C - 3 months
D - 1 month
F - reserved for books that are slow paying or stiffing players
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Coinbet downgraded to "F"
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