[ANN] Cointeller.eu - Deposit Here, Play Everywhere! BTC Sportsbetting Concierge

[Cointeller.eu]

Introducing Cointeller.eu

Deposit Here, Play Everywhere

Our goal is to be the preferred method to pay and get paid globally in the Internet gaming industry. We have created an extensive network of licensed sportsbooks and casinos from around the world, and you can play at all of them with the convenience of the bitcoin network.


Over the next fews months, the Cointeller Network will continue to grow as we add the best sportsbooks and casinos. Our goal is to have 50 members in the Cointeller Network by the end of 2014.


We aim to go above and beyond creating the largest network of reputable BTC sportsbooks and casinos. We will provide the best possible betting experience for our players through our staff of VIP Hosts, each of whom has received extensive training to provide a better customer experience. Our VIP Hosts work for Cointeller, not the sportsbooks, and are available to help you with anything you need.


Cointeller takes the security of our customers' deposits very seriously. We keep all customer deposit wallet addresses in cold storage, and you can always verify your deposit's safety via any blockchain website. In addition, customer deposits and winnings at any Cointeller Network site are guaranteed by Cointeller.


We maintain balances at all sites in our network, and our customers are free to open accounts at any of them at any time. Using bitcoin allows for fast, same day deposits and withdrawals, and we allow our customers to move between the sites in our network just as easily.


Feel free to ask any questions you may have in this thread, we are excited to join the community at BitcoinTalk and will be visiting here often!

[Rulishix]

Sooo you are like a go between for the user and the casino? So if the casino goes rogue and doesn't pay will you pay the user since you told them the casino was safe? Funds are supposed to be ssfe with you guys and your chosen sports books so I would assume so!

[Cointeller.eu]

Exactly, we are able to mitigate our risks to any single site in the Cointeller Network, and we pass that on to our customers.

Perhaps more importantly, we are allowing bitcoin users to access "traditional" sportsbooks and online casinos that have not offered bitcoin as a deposit or withdrawal option.  These sportsbooks are not new to the gaming industry, and we believe they offer a better customer experience than one is accustomed to in the bitcoin gambling industry.  We let the Cointeller Network Sportsbooks focus on offering the best lines, limits, and other offerings while we focus on providing easy access for our customers.

[Gogo ppp]

A few questions:


1) From the FAQ on site -

"Do I need to provide any forms of identification, proof of residence, or other personal information?
Cointeller will ask for any personal information or identification. Customer privacy is one of our founding principles and we will never collect personally identifying information from any customer."

Since these 2 statements contradict, I assume "will ask" is supposed to be "will not ask"?


2) I'd like to find out what books are available before I become a member.
Why isn't that info available?


3) "Cointeller takes the security of our customers' deposits very seriously. We keep all customer deposit wallet addresses in cold storage, and you can always verify your deposit's safety via any blockchain website. In addition, customer deposits and winnings at any Cointeller Network site are guaranteed by Cointeller."

This is great that you guarantee payment.
There's only one problem - who are you and why I should I believe you'll be around next week?

I find your guarantee an empty statement.

Please provide proof of some sort to give me a reason to trust that you will follow thru on that.
.

4) Based on the books listed in the Peeps Place thread that you are involved with, I don't see any legitimate stable book that I am aware of.
The only legitimate established ones are "coming soon" - Pinnacle and Bookmaker.

How soon is "coming soon"?

[Gogo ppp]

Exactly, we are able to mitigate our risks to any single site in the Cointeller Network, and we pass that on to our customers.

Can you be more specific?

How are you able to mitigate your risks?

[Gogo ppp]

Of the books of yours I see listed in Peeps Place thread, only 2 are even listed at SBR:

ABCIslands  = Rated C

InstantActionSports  = Rated C

"SBR recommends players choose sportsbooks with a minimum rating of B+"

"C- to C+    Average service and some risk to players funds."

[Cointeller.eu]

Gogo PP

Lots of good questions, here are some answers.

Thanks for spotting that typo, we are fixing it now.

The books in the Cointeller Network are listed on the Cointeller.eu website under a section named Network, they can also be found here: http://cointeller.eu/network

We are negotiating with a number of sportsbooks.  I can’t provide any specific timeline in regards to a particular sportsbook.  You might see some of these on board as early as next week while others might not join the network until end of the summer (Closer to football season).  Our goal is to have 50 books up by the end of the year.

Mitigating risks?  We are assuming responsibility for all balances involved in the Cointeller Network.  Rather than engage in business with just a few sportsbooks, we have contracted with a large pool of sportsbooks and agents.  Bet sizes are reasonable but not excessive, you will typically find maximum bet sizes of around 4 BTC in most packages at this time.

Ratings (especially SBR's) are subjective and often times reflect whether a rating site conducts business with a sportsbook. Additionally, ratings usually include a number of factors : financial solvency, customer service, bet variety, customer limits.  I would look at payout reports from customers for a better way of rating individual books.

In the case of the Cointeller Network, all funds backed up by Cointeller. Cointeller is in some cases contracting service through an agent of the sportsbook, not the post up division of the sportsbook.  In the case of Cointeller,  rating of the sportsbook is irrelevant since these accounts are booked by agents of book.

This is no different than SBOBitcoin, by the way.  Open an account with them and you are betting at Pinnacle,  but is Pinnacle booking your action?  No, you are being booked by an agent of Pinnacle.  So the A+ rating of Pinnacle is of little benefit.   Your only question should be, “do I trust Cointeller to stand behind the balance of my [Book name here] account?”  We believe the answer to that question is a firm yes, but we recognize that the burden of proof falls upon us to prove this.  We hope to grow our reputation and your trust over time through quality service and payout reports from players.


Thanks for asking the tough (and most important) questions, we will be here to answer more!

[hypersire]

Cointeller, just to clarify, all deposits and bets are done through your site meaning we don't have to create accounts on the individual bookmaker's sites?

[Cointeller.eu]

That is correct, you deposit once with Cointeller, and then you are free to disperse your balance across the various sites in our network as you wish.  Also, both your balance at Cointeller.eu and your balances at any of the sportsbooks are kept in BTC or mBTC, balances are never converted to fiat.

[hypersire]

That is correct, you deposit once with Cointeller, and then you are free to disperse your balance across the various sites in our network as you wish.  Also, both your balance at Cointeller.eu and your balances at any of the sportsbooks are kept in BTC or mBTC, balances are never converted to fiat.

Wow, that is fantastic! Please get Pinnacle on board ASAP - that bookmaker alone would take interest in your site "to the moon" as they say 

[Gogo ppp]

Gogo PP

Lots of good questions, here are some answers...



In the case of the Cointeller Network, all funds backed up by Cointeller. Cointeller is in some cases contracting service through an agent of the sportsbook, not the post up division of the sportsbook.  In the case of Cointeller,  rating of the sportsbook is irrelevant since these accounts are booked by agents of book.

This is no different than SBOBitcoin, by the way.  Open an account with them and you are betting at Pinnacle,  but is Pinnacle booking your action?  No, you are being booked by an agent of Pinnacle.  So the A+ rating of Pinnacle is of little benefit.   Your only question should be, “do I trust Cointeller to stand behind the balance of my [Book name here] account?”  We believe the answer to that question is a firm yes, but we recognize that the burden of proof falls upon us to prove this.  We hope to grow our reputation and your trust over time through quality service and payout reports from players.


Thanks for asking the tough (and most important) questions, we will be here to answer more!

"This is no different than SBOBitcoin, by the way.  Open an account with them and you are betting at Pinnacle,  but is Pinnacle booking your action?  No, you are being booked by an agent of Pinnacle.  So the A+ rating of Pinnacle is of little benefit."

I disagree.

If I use SBOBitcoin or any other agent and get an account with Pinnacle, Pinnacle is booking the action and the A+ rating (and mainly, their history, reputation, my knowledge and previous dealings with them) make me feel secure that the money is there to cover my bets.
If I win X dollars, Pinnacle pays the X dollars to SBOBitcoin or any other agent, and the agent pays me with the money received from Pinnacle.

The danger is whether the agent will pass the winnings back to me without stiffing.
[And then whether Pinnacle (or any other sportsbook using agents) will take responsibility].

The agent is a conduit, telling Pinnacle they'll pay Pinnacle for my losing bets (with my post up funds in the case of SBOBitcoin or yourself), and telling me that you'll pay me my winnings with the money Pinnacle gives you.

So imo at least I don't have to worry about whether Pinnacle has the funds to cover my winnings.
I have to worry about the agent being honorable and passing the funds from Pinnacle to me.

Whereas if it's a shaky book, there's the chance the book goes under in the future.
Then the agent could be put in a difficult financial situation trying to cover winning bets themselves.
So a bad situation is more likely.

[Cointeller.eu]

Our statement regarding the agent - pinnacle relationship is overly broad, there are many arrangements as to how agents and their parent sportsbooks conduct business.  We would like to respect the arrangements of agents and their parent sportsbooks regarding individual details, but comparing the bet limits an agent's account takes vs the bet limits at the parent sportsbook usually signals which type of relationship exists.

In our situation, we are placing ourselves between many sportsbooks and sportsbook agents, all of whom we have vetted and have met our requirements to be added to the Cointeller Network.

[Rulishix]

This is truly an innovative concept being done here. I will definitely take part once I see some events I want to bet on.

[Gogo ppp]

Our statement regarding the agent - pinnacle relationship is overly broad, there are many arrangements as to how agents and their parent sportsbooks conduct business.  We would like to respect the arrangements of agents and their parent sportsbooks regarding individual details, but comparing the bet limits an agent's account takes vs the bet limits at the parent sportsbook usually signals which type of relationship exists.

In our situation, we are placing ourselves between many sportsbooks and sportsbook agents, all of whom we have vetted and have met our requirements to be added to the Cointeller Network.

If it's a pay-per-head shop, which apparently many of your books are, then yes the agent is booking the bets.

If it's Pinnacle, SBOBet, IBCBet, Bookmaker, then the sportsbook is booking the action, and the agent is getting a commission based on player loss.

I'd feel much more comfortable with one of those books, than with an unknown company giving me an account with an unknown agent.

[Gogo ppp]

This is truly an innovative concept being done here. I will definitely take part once I see some events I want to bet on.

As Cointeller has mentioned in this thread, SBOBitcoin.com has been doing this for about 6 months already.


"This is truly an innovative concept..."

Agents have existed for a long time.

[Rating Place]

Our statement regarding the agent - pinnacle relationship is overly broad, there are many arrangements as to how agents and their parent sportsbooks conduct business.  We would like to respect the arrangements of agents and their parent sportsbooks regarding individual details, but comparing the bet limits an agent's account takes vs the bet limits at the parent sportsbook usually signals which type of relationship exists.

In our situation, we are placing ourselves between many sportsbooks and sportsbook agents, all of whom we have vetted and have met our requirements to be added to the Cointeller Network.

If it's a pay-per-head shop, which apparently many of your books are, then yes the agent is booking the bets.

If it's Pinnacle, SBOBet, IBCBet, Bookmaker, then the sportsbook is booking the action, and the agent is getting a commission based on player loss.

I'd feel much more comfortable with one of those books, than with an unknown company giving me an account with an unknown agent.

Some agents receive a volume percentage instead of percentage of losses.

[Legions36]

As of right now everyone needs to know that this place is offering books who have screwed players in the past, I have read horror stories from some of the books. The rest of the books are just some bobo no name books that nobody ever deposits at. How can they encourage people to deposit as horsesh-it places, it says a lot about this Cointeller, I also like how they are trying to guarantee players money at these sh-it books. Of course they can't get good books yet to agree to this they are new, why would books want to trust coins and personal info with them. Hopefully it works out but any of these bonuses that come from these books are beyond risky even for me and I try out everything.

[Cointeller.eu]

Legions36,

You raise some interesting points.  I’ll try to respond to them. 

The term “agent” is a confusing a term within this industry with a mostly pejorative connotation.   The truth is an “agent” can be bookmaker with hundreds or thousands of customers, booked through a site he has contracted to do service/write his customers or it can be a little guy who operates at the bottom end of the food chain, meeting up with small number of local players hoping to extract a small percent of player losses.  In the case of all the sites on the Cointeller Network, the accounts are being booked by large, established bookmakers with a very large customer base.  In the future, I will probably be more inclined to describe our bookmakers as “pph bookmakers” as opposed to “agents.”  Both terms are accurate but the term “agent” is confusing and unnerving for many.  The owners of Cointeller.eu as well most of the bookmakers on the Cointeller Network have been in the offshore industry for over a decade.  Many of these individuals have worked with one another for years.  There is not a bookmaker on the list that Cointeller does not feel comfortable guaranteeing.


Additionally, you will not see any large bet sizes or ridiculous bonuses.  Initial maximum bet sizes will be in the 4-6 BTC range.  This will grow in time.  At the moment, no bookmakers are allowed to offer a bonus to players on the Cointeller Network.   There are a few pph bookmakers who are willing to offer a introductory bonus and others who are dead set against it.  Allowing bonuses to be offered by a few pph bookmakers is a a real disincentive to other potential bookmakers Cointeller is currently negotiating with.   At some point, small, on-time time bonuses will be allowed .   Cointeller is focused on gradual sustained growth.

 We realize trust is not awarded without a spotless history of prompt payouts and excellent customer service.  In the months and years to come, you will see more established, well known books appear and a lot of “bobo” books.  There is no difference in terms of risk associated with any of these books.  We realize some players like to see more well known books, while other (mostly sharp) players desire off-screen pph offices with unique numbers.  We believe Cointeller offers something of value for all types of players. 

[trytrytry]

interesting concept here.  I didread the thread but might have scanned a few things.

My question is this one.

Once a client  joins through the cointeller.eu site  (which appears to only need an email  and a password)

you can then send bitcoins from your personal wallet to your cointeller account   (identified by your email and password)

then how do you line shop at all these books?  how do you see what games they might have?  if you dont have an account at any how do you look around
and choose stuff to bet on?

is it all somehow  dispalyed in the cointeller site after logging in?

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[Cointeller.eu]

Our customers identify the books they want to play at.  We assign them an account at those books.  They are free to move their coins as they please, throughout the Cointeller Network of books.  All of the betting is done on the websites of those sportsbooks.