Spin.io forfeited my winnings - 700 USD

[alertv]

https://www.talkimg.com/image/UlocW2
https://www.talkimg.com/image/Ulo82f
https://www.talkimg.com/image/UloKRZ


Hello everyone,

I would like to bring my case with Spin.io to the Bitcointalk community.

Spin.io closed my account and confiscated approximately $700, accusing me of "Following a review of your betting activity, our sportsbook provider identified activity involving pricing discrepancies, which is not permitted under our Terms and Conditions. Therefore, we may restrict, suspend, or terminate the account.

The main problem is that Spin.io has not provided me with a single specific bet that they consider to pricing discrepancies.

My winnings come mostly of proffesional cycling. The prices were the same in all bookies. I only can think in a bet where the favourite of the race didn´t compite finally but eventually my bet was lost and they settled the bet as lost, not void before the race. I can´t know 100% sure that if the favourite will take part in the race or not, but I can´t don anything with that. On the other hand I made bets at high odds of 20 30 40 on other races and I was lucky to have some winners. No void bets, no unsettled bets, wins or losses until I make a withdrawal.

I am simply asking for some basic evidence supporting the accusation used to confiscate my money.

Spin.io, could you please clarify:

1. Which specific bets were considered bad princing?
2. What evidence do you have that I commited a fraud. I made 50 100 bets without any problem. The problem began at the time I want to withdraw my benefit.
3. Why was my entire remaining balance confiscated?

At the moment I have only received an e-mail that I attach saying I am betting under bad pricing against the edge of the bookie. I mostly bet in the market winner of a race, that has eventually more margin and edge for the house than a football match, tennis match etc.

If Spin.io can substantiate the accusation, I am willing to consider their position.

If they cannot, I believe the ~$700 should be returned to me.

I would also appreciate the opinion of Bitcointalk members who have dealt with similar sportsbook cases.

Spin.io representative, you are welcome to respond here and explain the basis for the confiscation.

Amount disputed: +-700 USD



P.D: Sorry for my bad english but I see on the forum another user with a simmilar problem and I used his wording to make my complaint also. Thanks

Scammer's Profile Link:
https://bitcointalk.org/index.php?action=profile;u=3753055

[holydarkness]

1. I dare say that bad pricing was refering to act on odd-manipulation, either early-odds or very-late-betting. The former does not exactly violate a strategy but does --I take their words at face value-- prohibited in ToS, if said so. The latter is a clear abuse of betting strategy as it utilize an outcome that's already very most likely known.

2. Case when someone got restricted following withdrawal of big win and not before, is not an uncommon practice amongst casinos and bookmakers. They can't monitor every players' activities, thus they only act when a big win and/or withdrawal request triggered their flagging system.

3. Pretty much sure the ToS cover this. Have you not read the ToS of which you agreed?

[alertv]

1. I dare say that bad pricing was refering to act on odd-manipulation, either early-odds or very-late-betting. The former does not exactly violate a strategy but does --I take their words at face value-- prohibited in ToS, if said so. The latter is a clear abuse of betting strategy as it utilize an outcome that's already very most likely known.

2. Case when someone got restricted following withdrawal of big win and not before, is not an uncommon practice amongst casinos and bookmakers. They can't monitor every players' activities, thus they only act when a big win and/or withdrawal request triggered their flagging system.

3. Pretty much sure the ToS cover this. Have you not read the ToS of which you agreed?

I am not abusing anything, nor am I taking advantage of any manipulation. I am simply placing my bets based on the odds available to me 12 hours before the race.

I placed the bets twelve hours before the event, an event of 180 riders and I  am betting on the winner market. In my view, if someone places a bet when the outcome is already known or the event has effectively been decided, then I would consider that fraud or manipulation.

But placing a bet the night before an event, when the outcome is still unknown, is completely different. I am not exploiting a known outcome or manipulating anything

[mabji1]

If they continue to stonewall you, your best leverage remains keeping the public thread updated with their lack of transparency, which harms their reputation among high-volume users.

[alertv]

If they continue to stonewall you, your best leverage remains keeping the public thread updated with their lack of transparency, which harms their reputation among high-volume users.

I simply don’t understand what rule I’m violating by betting on the outright winner market of a mass-participation cycling event with 150 or more riders. This is a market with an enormous edge for the bookmaker, much higher than in a tennis or football match. The margin is over 15%.

I place my bets 12 hours before the event. The only explanation I have is that an internal control system has flagged me for somehow threatening the bookmaker’s edge. This is absurd.

I am still demanding an explanation from Spin.io.