Can anyone here describe how SBObitcoin actually works? It seems like they actually deposit your funds to a Pinnacle account which you then login to. So the risk in this case would be SBObitcoin taking money from the account and not paying you out, correct? New to this agent thing, and just trying to figure out the mechanics and risk involved.
You are 100% correct. What I still do not get is whether they open a Pinny account with whatever personal info. you provide them (name, email, phone) or they open it with some ghost name? I've asked them this question several times, but they seem unable to answer it directly. Might be a language issue...I have no idea. You can open your SBOBitcoin account with a ghost name. SBOCoinbet with then give you an account number. It's easy to do with live chat. |
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"we use same conversion for deposit and withdraw to bitcoin" seems to be a fundamental flaw.
My assumption of how it works is that you "sell" your bitcoins to them when you deposit and then "buy" bitcoins from them when you withdraw. You basically place bets through them, not with them. I could be mistaken though. correct |
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BitBook A
Nitrogensports A
Cloudbet A
agreed with those being my top 3 at this time. I don't bet on sports very much (compared to my poker play) but I like to keep tabs on the industry. can't quite figure out why the op rated SBObitcoin top dog. after a quick look around, a bunch of things scare me. "we use same conversion for deposit and withdraw to bitcoin" seems to be a fundamental flaw. that coupled with the fact they use pinnacle sports somehow makes me quite likely to never deposit even something small to try it out. Sounds like many layers of shenanigans. would love to hear the OP's take on the site. I saw they have pokers too. Pinnacle is the best site for me since the hold is so low at -105. I also rated it high since the limits at Pinnacle are the highest. I just deposited bitcoins with SBOCoinbet and they put the money in my account although it was in Hong Kong dollars. It is a little confusing since 1 BTC = 6000 in my account. I also like the 24/7 on line chat. If you and others feel that SBOBitcoin should be downgraded, then the grade with be changed. Your thoughts are valid |
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Just in case someone missed this.
A player contacted SBR claiming that 8 BTC ($6,700) in winning wagers went unpaid and his account closed. On December 1, BTC Sports Bet contacted the player indicating that he would be paid his balance minus the winnings from the wagers. The wagers in question are:
606 CS Bakersfield -4.5
614 San Fran -2.5
583 Pepperdine +7.5
602 SMU +6
His account was closed on December 1 for "irregular betting patterns":
BTC Sports Bet: "After review by a manager, your account is being closed due to irregular betting patterns, with the recent wagers cancelled."
BTC Sports Bet then paid 27.53 BTC ($23,000) to the player. BTC Sports Bet has refused to give their reasoning for not paying the four winning bets. SBR has confirmed that the bets were in-line with the market at the time of being placed and that the bets were not past-posted.
SBR has attempted numerous times to discuss the complaint either online or via telephone. BTC Sports Bet first stuck with a generic line of not discussing details with third parties. At this time, SBR instructed the player to again contact BTC Sports Bet and carbon copy the SBR resolution team on the email. BTC Sports Bet still refused to speak with the player. After repeated follow-ups from SBR, BTC Sports Bet replied with the following:
BTC Sports Bet: "We pay the largest wagers of any bitcoin sportsbook, literally thousands of BTC per month, and have since 2011. We will not discuss the matter with you as is stated policy, but your facts are not correct about the user and the wagers. We are confident that we have, and continue to earn the trust of our thousands of users, as noted by the numerous positive reviews, including well-known third parties such as the OSGA."
SBR followed up indicating BTC Sports Bet have also refused to explain to the player himself what specifically about his wagers violated their rules and could possibly be grounds for not being paid.
One of the oldest and most sacred rules sportsbooks must follow is "you book the bet, you pay the bet". The wagers in question were not erroneous lines nor past-posted. No evidence was offered to the player or SBR attempting to justify not paying the $6,700 in winnings.
http://www.sportsbookreview.com/sbr-news/btcsportsbet-bitcoin-sportsbook-steals-6-700-winnings-6082/ |
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Gogo-You shouldn't play at any book that makes you uncomfortable.
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There are agents that will give players $100k worth of credit or $500k worth of credit at Pinny. If you get set up with this agent, you don't ask for their address and how long that they have been in business.
If someone is fronting me 500k, I'm pretty sure we both know a lot about each other. Good point. I should have used smaller amounts such as $1k or $5k. You aren't asking the agent for his information. |
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There are agents that will give players $100k worth of credit or $500k worth of credit at Pinny. If you get set up with this agent, you don't ask for their address and how long that they have been in business.
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Gogo- The easiest way to explain it is that when you are an affiliate, you get a cut of the net losses or volume depending on the package. The player deals with the book and not the affiliate. The book pays the affiliate.
With an agent, the player deals with the agent and not the book. For this reason, agent information is almost never available. Pinnacle deals with high volume. SBOBitcoin most likely receives a percentage of the volume that they bring to Pinnacle. The same goes for SBOBET. It doesn't have to be that way but that's my guess.
Since SBOCoinbet has a nice deal working with two of the biggest books without complaint, common sense says that they want to keep this deal. With the bitcoin books, at the first sign of trouble, you should be very cautious. They aren't dealing with close the volume and it may be better off for them to run wth your money.
Agents can be much more trustworthy than books although there are many rogue agents that will stiff you. It is their reputation that counts.
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With an agent, you work directly with the agent and all communication is with the agent. If you contact the book directly, they won't give you any information on your account.
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Some books may say that there has never been a problem with a payout. It's always been instant. Then I go and read 20 similar complaints here and elsewhere, I just toss out a lot of what the book says in that tye of situation.
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There is also a chart of bookmaker theoretical hold that will be posted. We all would rather have -105 instead of -110.
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Can anyone here describe how SBObitcoin actually works? It seems like they actually deposit your funds to a Pinnacle account which you then login to. So the risk in this case would be SBObitcoin taking money from the account and not paying you out, correct? New to this agent thing, and just trying to figure out the mechanics and risk involved.
You are 100% correct. SBObitcoin.com opens at an “A” rating surpassing Bitbook as the top rated place to play using bitcoins. SBObitcoin is an agent of the top sports books in the world in PinnacleSports, SBOBET and IBCBET. Players deposit bitcoins with SBObitcoin and they are then exchanged for your choice of Hong Kong dollars or Singapore dollars. The Asian dollars are then deposited into the sports book. The exchange rate of your deposits and withdraws will stay the same and not fluctuate. It takes 3-5 minutes for withdraws and six confirmations are needed for deposits. Live chat is open 24/7.
SBObitcoin has been in business for six months with bitcoin accounts and seven years overall. SBObitcoin states that they are one of the products of Ole Group Philippines Inc., and are licensed and regulated by the Government of the Philippines under First Cagayan Resort & Leisure Corporation.
There have been no reports of payout problems with SBObitcoin. Both Pinnacle Sports and SBOBET are top rated sports books in the world taking the highest wagers. Pinnacle takes the largest wagers on American sports while SBOBET takes the largest wagers in soccer. The book hold at Pinnacle is the lowest in the industry and SBOBET is not far behind. |
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One thing that I did is ask the book is if they had any problems with payouts. I didn't ask for an exact issue that they had although I knew that some did have a problem for one reason or another. It was refreshing to see the honesty of most of the bitcoin books.
Some book said there has never been an issue and there's nothing out there that I could find. Others said that they may red flag an account for suspicious activity and it may take up to 4 hours. A lot of it coincided with what's posted on the boards. Some said that there was a technical issue that caused delays. That was confirmed by what's out on the forums. Honesty is important.
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Gogo- There are many agents for Pinnacle Sports but you will not be able to personally find anything about them.
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Coinbet is another book that is transparent and you can get a lot more information. Most bitcoin books stay under the radar as much as possible.
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You'll never get any information on other agents with one exception. Gogo- I said one exception and that is SBOBitcoin. Agents do not exist with other books unless it's on credit. It's word of mouth. What information do you have on any of the bitcoin books? If you have something, then share it. |
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Use BitBook as an example. How long have they been in business and what type of research can you do on Bitbook? It's the same with almost all bitcoin books.
Most of the time, you go by personal experience, what it posted, what the book says and what's on google. Then you try to filter the truth from fiction. This is for the initial rating and it's far from a complete science. With SBOBitcoin there was more research done since it was available.
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.........I would like to find a credible agent for those 3 books (or any single one of them).
At this point I don't feel secure that sbobitcoin.com is the agent I'm looking for .........
Gogo- Agents don't exist for books unless you are playing on credit. This goes for post up books and bitcoin books. You'll never get any information on other agents with one exception. Some agents are highly respected because of their payout history. You still can't research the agent. It's word of mouth. |
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How would others rate the top 2 or 3 books and in what order? Listing the bottom 2 or 3 would also help.
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You want me to ask sbobitcoin.com where posters have posted about their experience using sbobitcoin.com? You have continually mentioned that sbobitcoin.com has a strong presence on the forums. I asked you several times if you can steer me to posts which users of sbobitcoin.com have made. You then tell me you're not a rep for any of the books, and I should ask them. Also, I ask you: "When you refer to sbobitcoin's presence on forums - Are you referring to bettors who used them posting about the experience, or to Sbotbitcoin making posts about their own service? If the former, where can I find those posts?" And you respond with the typically incomprehensible "just posting." It's unfortunate that this list of books is not being maintained by someone of at least average intelligence and with better than average communication skills. I also have really not heard much at all about sbobitcoin.com. I can think of like 5 other books with a lot more presence on the forums. Not giving anyone a hard time here, just stating my experience. I definitely don't take it as giving anyone a hard time. I got caught up looking like a lawyer for SBOBitcoin. They'll be downgraded if people have bad experiences with them. |
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