What happened::After completing full KYC verification, Betpanda (betpanda.io) closed my account and kept my remaining balance of 380 USDT.
Their first email (ticket 0F2B1Y) only said my sportsbook activity breached their T&C, and that because I had "already withdrawn funds in excess of my most recent deposit", no further withdrawals would be possible. No clause was named.
After I appealed, their Disputes Team (ticket EX5WLS) cited section 5 of their Terms ("novel or recognised betting techniques designed to circumvent the standard house edge") and said their sportsbook provider flagged my bets as "value bets, which also strongly indicated arbitrage betting". No evidence was shown, and the decision was called final.
The facts:
- I did not do arbitrage. Every bet was a single bet on one side of the market. I never bet the opposite side anywhere, and several of my bets lost.
- "Value betting" is not defined anywhere in their Terms. I placed normal bets on markets Betpanda offered, at odds Betpanda set.
- The "only up to your most recent deposit" rule does not exist anywhere in their Terms and Conditions.
Scammers Profile Link: https://bitcointalk.org/index.php?action=profile;u=3675233Reference Link: https://betpandacasino.io/en/info/terms/ (Terms of Service, section 5)
Amount Scammed: 380 USDT
PM/Chat Logs:Betpanda Disputes Team, ticket EX5WLS:
"In this instance, what raised our Sportsbook provider's suspicions was that the bets were value bets, which also strongly indicated arbitrage betting."
Betpanda Support, ticket 0F2B1Y:
"Please note that you have already withdrawn funds in excess of your most recent deposit. Therefore, no further withdrawals will be possible. The account will be permanently closed."
PM/Chat Logs:Ticket 0F2B1Y (closure notice):
https://imgur.com/a/1Yw5ifLTicket EX5WLS (Disputes Team, "arbitrage" claim):
https://imgur.com/a/8YsA3SOAdditional Notes:My Betpanda account is now permanently closed and I can no longer log in, so I cannot access my balance, transaction history or bet history on the site. I asked Betpanda for a full statement of my deposits and withdrawals and for the evidence behind the "arbitrage" claim, but they refused to share any further details.
