New Betting Sites Stealing Funds (via arb/value betting rules)

[buwaytress]

I want to come out and objectively say that I have never heard of such a thing until now,,, and I can see objectively that you are right at least now I have looked at ToS of 1 or 2 new casinos.

I mean,,, if it is true then many gamblers on this forum are guilty of it, including me,,, after all we look for value in sports betting right? Why is that suddenly a wrong thing to do @buwaytress @KTChampions you guys talk a LOT about value betting can you explain if you have ever been blocked?

I have never been blocked, but I should note that I do not register on every gambling site to test its algorithms or, for example, to use the bonuses offered. I'm happy with using reputable bookmakers which have no liquidity issues and don't skimp. I have a sense of common sense not to step into the gray area... or if I do, then do it in a way that doesn't draw attention to myself   If you hedge your bets, it is obvious that it is better not to do this where it is directly or indirectly prohibited.
As for the rules prohibiting arbitrage/value betting, that's nonsense, of course, and it's best not to deal with such projects in the first place.

I actually stopped my gambling thread some time ago (short story, I have no time) but yes, I don't deny the entire purpose of that was to bet where there is simple value (by choosing the best odds across bookies), and to bet on picks where there is statistical value (where the winning odds outmatch the actual no-win percentage).

I can't speak about what precisely bookies are referring to with this "value betting" clause. I suspect it's vague. Arbitrage I understand quite well, and that is generally outlawed everywhere but even then, we're talking about quite complex betting practices and structures, with plenty of cash and accounts across platforms. I hedge my bets a bit, but that's all Sunday casual play... I sincerely doubt a casual gambler, even one who looks for value, will get confiscated blindly.

Again, not dismissing any complaints, but I can't speak with experience except the little I have and I do feel that the "value betting" in question is probably a bit more complex than the value bets KTC and I make.

[leea-1334]

I have never been blocked, but I should note that I do not register on every gambling site to test its algorithms or, for example, to use the bonuses offered. I'm happy with using reputable bookmakers which have no liquidity issues and don't skimp. I have a sense of common sense not to step into the gray area... or if I do, then do it in a way that doesn't draw attention to myself   If you hedge your bets, it is obvious that it is better not to do this where it is directly or indirectly prohibited.
As for the rules prohibiting arbitrage/value betting, that's nonsense, of course, and it's best not to deal with such projects in the first place.

I actually stopped my gambling thread some time ago (short story, I have no time) but yes, I don't deny the entire purpose of that was to bet where there is simple value (by choosing the best odds across bookies), and to bet on picks where there is statistical value (where the winning odds outmatch the actual no-win percentage).

I can't speak about what precisely bookies are referring to with this "value betting" clause. I suspect it's vague. Arbitrage I understand quite well, and that is generally outlawed everywhere but even then, we're talking about quite complex betting practices and structures, with plenty of cash and accounts across platforms. I hedge my bets a bit, but that's all Sunday casual play... I sincerely doubt a casual gambler, even one who looks for value, will get confiscated blindly.

Again, not dismissing any complaints, but I can't speak with experience except the little I have and I do feel that the "value betting" in question is probably a bit more complex than the value bets KTC and I make.

Thank you for both your answers, I think you are right, the definition of value betting needs to be expressed properly first and from what I can understand neither of you have ever been blocked, and that is simply because,,, your definition is different from casinos.

I wish there was a way for us to pull casino reps to answer this, I think @buwaytress is right about complex betting with big bankrolls. We also need a new thread maybe to discuss Value Betting if this is truly a new aspect for witholding player accounts.

[Floxynice]

They are blaming users for not reading entire terms of service, which can be adjusted an any time anyway.

In a general sense, if a casino updates their policy, they should need to notify their customer about it unless there is something shady they are hiding there and would like to use it against an uninformed customer, which is a bad behaviour and should be flagged.

It is unfair for a casino to silently update their policy, even if they stated clearly in their casino terms that they reserve the right to update their policy without an official announcement. The result is that gamblers may ignorantly and unknowingly violate the casino terms which will be used to either delay withdrawals or deny them access to their funds. This act raises serious concerns about the reputation of the casino. A casino who is not trying to act fishy is supposed to either send mails, give an update or make an official announcement; it doesn't cost much to do any of this.

[Oluwa-btc]

I haven't personally come across a betting site that deliberately steal users fund.However,such acts can signal suspicious especially when they're not stated In the platforms terms and conditions.If there's a need for upgrade, maintenance and improvements,it's right to inform customers ahead of time so they don't feel like victims of fraud and label the platform a scam.Actions like this damages reputation and customer trust.

[Darker45]

I haven't personally come across a betting site that deliberately steal users fund.However,such acts can signal suspicious especially when they're not stated In the platforms terms and conditions.If there's a need for upgrade, maintenance and improvements,it's right to inform customers ahead of time so they don't feel like victims of fraud and label the platform a scam.Actions like this damages reputation and customer trust.

"Deliberately steal users fund" must be a hard thing to prove in court. How could anybody throwing this accusation prove the intention? There are probably a hundred ways to justify it or call it differently, even making it look perfectly legal and supported by terms and conditions to which players agree even before their first deposit is made. Generally, the betting sites are at an advantageous position. In the first place, they hold the funds.

Is there even a single casino that informs each and every user every time there's a change in the terms and conditions? I don't think so. If I'm not mistaken, it's always provided instead in the terms and conditions that it may change or gets updated anytime and continued use is tantamount to agreeing with the changes.

[Cointxz]

Is there even a single casino that informs each and every user every time there's a change in the terms and conditions? I don't think so. If I'm not mistaken, it's always provided instead in the terms and conditions that it may change or gets updated anytime and continued use is tantamount to agreeing with the changes.

Stake inform their users whenever they made changes on their ToS through popup message when you open your account and you need to agree first before that popup message can be closed to assure that user read and agree to the changes.

I don’t see other casino does it and the closest notification that I saw on some casino for the ToS change is an email notification that often being ignored.

[alani123]

Who told you that these sites won't close your account for doing arbitrage or winning too much?
Read the tos. Almost all sites will say they have a right to ban you unilaterally without explanation.
Those that don't have a habit of doing this might actually have really bad odds.

I have noticed that many crypto casinos actually have way worse odds than some traditional casinos on their sports betting. It makes no sense especially given that they pay no tax but I guess they also pray on the fact that some people are forced to play on crypto only offshore casinos because of national bans or unclassified income and the likes so they're just much more willing to take the worse odds.

[Wakate]

I haven't personally come across a betting site that deliberately steal users fund.However,such acts can signal suspicious especially when they're not stated In the platforms terms and conditions.If there's a need for upgrade, maintenance and improvements,it's right to inform customers ahead of time so they don't feel like victims of fraud and label the platform a scam.Actions like this damages reputation and customer trust.

There are casinos that have the intention to make money from their players by all means possible. These casinos can be of various types and as more people are becoming victims, they are improving and doing more marketing to attract more players to their platforms so they can make a lot of money by scamming and stealing from their players.

[Rating Place]

All the Betby casinos steal if your bets are beating closers by a certain percentage. Earlier in a thread there were a couple listed that are honest. It's best to stay away if you bet sports.

Betby (71)

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