you are not bitcoin sportsbook
your deposit and withdrawal is only on bitcoin, nothing else
if the price jumps/drops huge (depends on how you keep your deposits in fiat or btc ) you will be insolvent immediately
I'm afraid that I will have to agree to this.
A bitcoin sportsbook platform would offer all its deposits and withdrawals, ONLY in bitcoin. By applying the conversion rate, players lose money, and like sbrzol said, if the price jumps/drops huge, you're out.
We at various times, on this forum including, explained our system work principles in terms of currencies other than BTC. Therefore, I will remind you only the principal points:
To run our company responsibly – is a top priority of JETWIN management. In that regard, all risks, including currency risk, are reduced to minimum. If a player opens account at a currency other than BTC, the system automatically converts funds at the Bitstamp, through API, to relevant amount of USD at the Bid rate at the time of deposit. However, when a player requests for withdrawal, the reserve operation takes place. Many players select this option, as it allows them:
a. to deposit in BTC and to play in their habitual currency;
b. to avoid fluctuations of BTC rate;
c. not to waste their time on the operations mentioned above.
