Bitcoin sportsbook Cloudbet: Player says withdrawals not instant
A Cloudbet Sportsbook payout complaint has been submitted.
A player reported making a $475 (then 1.45 BTC) payout request at 7:11AM ET on November 20. He has still not been paid.
The player has taken issue with what he feels is deceptive marketing: Cloudbet advertises "instant withdrawals" on their website, but that has not been his experience.
This is the second recent Cloudbet Sportsbook complaint. A player wrote SBR after Cloudbet failed to grade a winning boxing wager made days earlier. Cloudbet provided no assistance to the player via email, though did respond to SBR after an inquiry was made and subsequently graded the winning bet.
Online sportsbooks that offer bitcoin and promote instant withdrawals will be held to that time-frame as far as their sportsbook rating is concerned. Unlike traditional betting sites that have third party processors to deal with, there should be no such delay moving bitcoin funds when that is the sole method offered in the cashier and business model of the sportsbook.
With bitcoin, players do not need to store their balances for long given the wild fluctuations in currency value plus the ease of moving funds and free cost of doing so. Online sportsbooks who offer bitcoin should be able to pay instantly, or at the very least within a reasonable amount of time, especially if this is promoted as being the case.
Sportsbook Review has asked Cloudbet for comment on the payout complaint. The player claims to have sent over 20 emails to Cloudbet support with the most recent update being a claim that his payout was processed, but the player denies receiving his funds.
Cloudbet players in need of assistance are asked to submit a sportsbook complaint form.