Update: Cloudbet Player receives bitcoin withdrawal
Sportsbook Review reported yesterday of a Cloudbet (SBR rating C+) bitcoin player who took issue with the advertising of "instant withdrawals".
The player put in a 1.5 bitcoin payout request on November 20, and after 24 hours elapsed had still yet to receive payment or more than a generic update from Cloudbet staff.
Sportsbook Review followed up with Cloudbet and received a similarly worded token acknowledgment that the matter was being looked into. Then, without further acknowledgment, the player received payment Sunday morning.
SBR Forum posters have noted that Cloudbet has been hit and miss with their ability to pay according to their advertised time-line.
Forum veteran raiders72001 had the following to say: "Unlike some of the bitcoin books that consistently make instant payouts, Cloudbet is all over the place. It can be instant or it can take longer. It's the same with their replies to emails. It's slower than the other Bitcoin books especially on the weekends. Email replies may not be returned until Monday."
Bitcoin sportsbooks are held to different standards than traditional fiat sportsbooks due to the unique nature of their business model. There is no need for third party processors or red tape to sift through in order to process payments quickly and without cost, so a player should not have to listen to the clock tick for days waiting to be paid due to the very nature of bitcoin.
Sportsbook Review asks Cloudbet bettors with feedback on their experience with the bitcoin website to write to email@example.com.