How to Use Bitcoin for Sports Betting Video Tutorial

[sadekmeister]

That's not very good. I thought their system was automated so it credited as soon as it saw 3 confirmations. Must be something unusual happened.

They have credited deposit to my account

[Optional]

Yesterday it was fully confirmed by blockchain, but still isn't credited to my sportsbetting.ag account. I contacted their chat and they say they have to check it and I'll receive info within 24-48h.

That's not very good. I thought their system was automated so it credited as soon as it saw 3 confirmations. Must be something unusual happened.

[sadekmeister]

A few posters have mentioned a delay in confirmations today.

If you would like to post the transaction ID or PM it to me, I can have a look and see if anything obvious is wrong for you.

I doubt you will be waiting more than a few hours though (just guessing)

Yesterday it was fully confirmed by blockchain, but still isn't credited to my sportsbetting.ag account. I contacted their chat and they say they have to check it and I'll receive info within 24-48h.

[Optional]

^^ Sounds good OPTI.. I'm not encouraging anyone to do anything, I'm just telling my story and what I did and what worked and continues to work....

I just got sick of all those little buffer fees and there was a time when block chain was experiencing time delays which sucked also.. I just said to hell with all that I'm going straight from Coinbase to books and I don't care if they shut me down.. I just didn't think they could track it and if they do so be it.. I pay taxes on my winnings.

It was quick, it funded immediately and I avoided those extra buffer fees.. I'll do it again in the future...

Lastly my coin base account remains open and just fine.. Is what it is Opti..... If I get shut down at coinbase I will be the first to start a thread and say so..

I agree with the hassle and extra fee and extra time angles being annoying. This is just a bad thread to be confusing people in as it's for brand new users to get started. Once they learn the basic way they can make an informed choice on how to work ongoing.

One more reason it is smart to use your own wallet between service providers is that it makes you a party to every transaction, rather than having to get two third parties to sort out any issues between them on your behalf if something goes wrong.

[JIBBBY]

^^ Sounds good OPTI.. I'm not encouraging anyone to do anything, I'm just telling my story and what I did and what worked and continues to work....

I just got sick of all those little buffer fees and there was a time when block chain was experiencing time delays which sucked also.. I just said to hell with all that I'm going straight from Coinbase to books and I don't care if they shut me down.. I just didn't think they could track it and if they do so be it.. I pay taxes on my winnings.

It was quick, it funded immediately and I avoided those extra buffer fees.. I'll do it again in the future...

Lastly my coin base account remains open and just fine.. Is what it is Opti..... If I get shut down at coinbase I will be the first to start a thread and say so..

[Optional]

I don't re-up or open new accounts often but the last 3 times I did I went from Coin base directly to the sports books.. No problems, no bitcoin wallet buffer.. I think a buffer is spice like Block chain just to ream you for more transfer fees...

How can they track a bitcoin address back to sports books when you only do that once in a while? Some one explain this to me? How come I haven't been cut off yet on Coinbase? I've done that 3 times and no problems this year..

The day they identify a main account the book consolidates payments to or tries to convert to cash from, then transactions can be traced backwards to Coinbase.

How do they identify that? By making payments themselves to trace them. From users telling them when questioned. Or from the feds ordering them to trace anything back from an address.

I'd assume there are other more sophisticated ways to analyze the blockchain record to find patterns to investigate too.

That said, there has not been a report of anyones Coinbase account being shut down for gambling in a long time, so they may not even be trying right now. The record is there forever though so if/when they start looking for it or come up with a new system to trace it, it could come back to bite you later.

Make your own choices but please dont try to encourage other new users to do it your way just because you assume its all AOK based on a handful of personal transactions. ;-)

[Optional]

Yesterday I sent BTC deposit to sportsbetting.ag, but it's been almost 30 hours now and my transaction is still pending with 0 confirmations. I chose regular transfer fee. Should I be worry or is it normal?

A few posters have mentioned a delay in confirmations today.

If you would like to post the transaction ID or PM it to me, I can have a look and see if anything obvious is wrong for you.

I doubt you will be waiting more than a few hours though (just guessing)

[SBR Tracy]

Yesterday I sent BTC deposit to sportsbetting.ag, but it's been almost 30 hours now and my transaction is still pending with 0 confirmations. I chose regular transfer fee. Should I be worry or is it normal?

Hi sadekmeister, Try to give them at least 3-4 business days. If still no update after 3-4 business days then contact them.

[JIBBBY]

I don't re-up or open new accounts often but the last 3 times I did I went from Coin base directly to the sports books.. No problems, no bitcoin wallet buffer.. I think a buffer is spice like Block chain just to ream you for more transfer fees...

How can they track a bitcoin address back to sports books when you only do that once in a while? Some one explain this to me? How come I haven't been cut off yet on Coinbase? I've done that 3 times and no problems this year..

[sadekmeister]

Yesterday I sent BTC deposit to sportsbetting.ag, but it's been almost 30 hours now and my transaction is still pending with 0 confirmations. I chose regular transfer fee. Should I be worry or is it normal?

[ebiara]

Online sports bettors commonly ask this question — What is bitcoin and why should I bother using it with sportsbooks? Find out in my video tutorial which covers how to get started betting with bitcoin and avoid the headaches associated with other payment methods. | Read written tutorial

It's really very useful information.

[Optional]

You have it right but as The Giant says, the value of your bitcoin constantly fluctuates whilst you own it in that form.

If you do not wish to gamble with the bitcoin price then plan to do your transfers immediately. Get your bitcoin from SBR and then either send it to coinbase and swap it for US$, or depsoit it in a book that credits it as US$, as soon as you can.

To avoid the price changes.

You wont find it as big of an issue as it sounds like it could be most of the time.

[The Giant]

Ok, I think I understand. I just did not specify blockchain.com as the wallet in my post. I create a coinbase account that is connected to my bank. I also create a blockchain.com wallet. After I have both created I trade points from SBR for bitcoin and SBR sends the bitcoin to blockchain wallet and I either send to coinbase to cash out or to sportsbook to wager. Is this correct?

Also, leaving bitcoin in coinbase fluctuates if I am not mistaken. If I transfer it to blockchain wallet are they still subject to the fluctuation?

Thanks for the help.

Yes and yes.

[Pigpen]

Ok, I think I understand. I just did not specify blockchain.com as the wallet in my post. I create a coinbase account that is connected to my bank. I also create a blockchain.com wallet. After I have both created I trade points from SBR for bitcoin and SBR sends the bitcoin to blockchain wallet and I either send to coinbase to cash out or to sportsbook to wager. Is this correct?

Also, leaving bitcoin in coinbase fluctuates if I am not mistaken. If I transfer it to blockchain wallet are they still subject to the fluctuation?

Thanks for the help.

[Optional]

Really interested in getting involved with Bitcoin. If I set up my coinbase and wallet I can cash in my betpoints for bitcoin. If I exchange points for bitcoin SBR sends the coins to my wallet and then I can transfer them either to coinbase or a sportsbook. Is this correct?

You can do that if you want to ignore the Coinbase rules about gambling usage and hope they dont notice.

Also, Coinbase is an exchanger, not a wallet provider. They have a wallet attached to your account in order to handle the bitcoin used there, but you have zero control over that wallet. They are not a 'wallet' and they do not especially want you to use them that way either.

Blockchain.info/wallet is a independent wallet which you have complete control over.

Coinbase can start asking you for ID or demand to know what you do with your bitcoin if they want, so I would never store any there. Just use them to buy or sell and get it out of there fast.


Best practice is to go SBR > Blockchain Wallet > to a Sportsbook to deposit or to Coinbase to cashout

Or buy new Bitcoin from Coinbase > Blocchain Wallet > Sportsbook deposit.

Or cash out from a Sportsbook > Blockchain Wallet > Coinbase to sell and cashout

[Pigpen]

Really interested in getting involved with Bitcoin. If I set up my coinbase and wallet I can cash in my betpoints for bitcoin. If I exchange points for bitcoin SBR sends the coins to my wallet and then I can transfer them either to coinbase or a sportsbook. Is this correct?

[SBR Tracy]

Thank you Tracy.

You're welcome Shfty

[Shifty]

Thank you Tracy.

[SBR Tracy]

Quick question. I bought some BTC from Coinbase. Should I transfer directly from Coinbase to my sportsbook or should I transfer the BTC to my Blockchain wallet and then transfer to the sportsbook as described in the video?

Hi Shifty, Thank you for asking! Yes, you should transfer the BTC to your Blockchain wallet and then transfer to the sportsbook as described in the video.

[Shifty]

Quick question. I bought some BTC from Coinbase. Should I transfer directly from Coinbase to my sportsbook or should I transfer the BTC to my Blockchain wallet and then transfer to the sportsbook as described in the video?

[Optional]

Does the value of bitcoin fluctuate?

It does. But so does every currency.

If you are just using it as a money transfer method then the value is not a big issue as long as you make your transfers fast.

[juvunits]

Does the value of bitcoin fluctuate?

[MaddyMax]

I opened a coinbase account and they only have credit card as payment option. how do i verify the bank. it also says they will charge 3.99% convenience fees!

[Optional]

So, Coinbase is no longer recommended as the wallet linking to bank-acct?

Gemini.com and ItBit.com offer a similar service to Coinbase, inc ACH trasnfers, but as far as we know have not been subject to a DOJ request for their records like Coinbase. (yet)

If you aren't hiding large sums in bitcoin, you probably have little to be concerned about though.

[ChuckyTheGoat]

I'd never watched this video before tonight. The idea's solid, but it badly needs updating:

1. It recommends Coinbase, the only exchange on earth currently being sued by the IRS for its clients' purchase, sales and trading records. Literally, ANYWHERE else on earth is a safer place for a sports bettor to buy his BTC.

I recommend a remake with Bitstamp, incorporated safely outside IRS jurisdiction in Luxembourg, replacing Coinbase.

2. Its "intermediary wallet" recommendation is Blockchain.info. Blockchain's great, but they're changing their business model from Wallet to Exchange, so the same scrutiny other exchanges apply to sports bettors is probably coming soon to Blockchain.

A better option for the "intermediate wallet" might be a private wallet: Electrum and Airbitz are both free and easy to use.

So, Coinbase is no longer recommended as the wallet linking to bank-acct?

[MeanPeopleSuck]

I'd never watched this video before tonight. The idea's solid, but it badly needs updating:

1. It recommends Coinbase, the only exchange on earth currently being sued by the IRS for its clients' purchase, sales and trading records. Literally, ANYWHERE else on earth is a safer place for a sports bettor to buy his BTC.

I recommend a remake with Bitstamp, incorporated safely outside IRS jurisdiction in Luxembourg, replacing Coinbase.

2. Its "intermediary wallet" recommendation is Blockchain.info. Blockchain's great, but they're changing their business model from Wallet to Exchange, so the same scrutiny other exchanges apply to sports bettors is probably coming soon to Blockchain.

A better option for the "intermediate wallet" might be a private wallet: Electrum and Airbitz are both free and easy to use.

[soccergoat]

i've been using bitcoin for a while for deposits, at first i really didn't understand bitcoin but after time i really picked up alot like a big thing on getting a confirmation quickly is byte size and fee per byte, most transactions are around the 225 byte range and those almost always get confirmed pretty quickly the problem becomes when ur fee size is small and u start getting the 383 bytes and over 700's those can take a while most places have raised their send fees which has helped but the biggest piece of advice i can give anybody on making bitcoin deposits send late at night, i have noticed if u send after 11pm eastern time to about 7 am the bitcoin deposits will go thru lightning fast usually under 3 mins, if u send in late morning afternoon or evening there is always a chance u will have to wait hours or sometimes days if u get an unlucky high byte size

[jjgold]

I finally made the switch to bitcoin and glad I did it so

[Optional]

Oh my God. I touhgh that only exist one or two bookie that accept them.
In a forum from Spain someone opened a post where a company/firm was going to creat a P2P BOOKIE and it was doing crowdfunding

https://foroapuestas.forobet.com/la-charla-de-apuestas/59285-bookie-exchange-una-nueva-revolucion.html

http://bookie.exchange/ this is the link to this web


This bookie does exist in UK nowadays?

thank you

No they dont exist yet. Hopefully soon one will be built for us all.

There are several very similar projects doing this crowd funding thing to build a P2P blockchain exchange. See this thread for a discussion about them https://www.sportsbookreview.com/for...-platform.html

[mikel45]

Here is a list of SBR rated bookmakers who accept Bitcoin

Oh my God. I touhgh that only exist one or two bookie that accept them.
In a forum from Spain someone opened a post where a company/firm was going to creat a P2P BOOKIE and it was doing crowdfunding

https://foroapuestas.forobet.com/la-charla-de-apuestas/59285-bookie-exchange-una-nueva-revolucion.html

http://bookie.exchange/ this is the link to this web


This bookie does exist in UK nowadays?

thank you

[Optional]

I do not understand.
I think that there must be some bookies that offer you the possibility to put money by bitcoin, do not?
The most clarifyngs thing, shuold be that some of you put a list of bookis that offer this possibility.

I mean, that can be (it is posible) a bookie allow you traditional methods and bitcoin.

Thank you

Here is a list of SBR rated bookmakers who accept Bitcoin

[mikel45]

I do not understand.
I think that there must be some bookies that offer you the possibility to put money by bitcoin, do not?
The most clarifyngs thing, shuold be that some of you put a list of bookis that offer this possibility.

I mean, that can be (it is posible) a bookie allow you traditional methods and bitcoin.

Thank you

[Optional]

If i want to receive payment from another person, can i do it only with coinbase or do i need block chain too. Why do we need blockchain...why not just use coin base to send it to the book then get it out of the book?

1) It's fine to receive a payment from another private individual to your coinbase wallet.

2) You use a blockchain wallet between Coinbase and bookmakers as if you read the Coinbase terms they ban transacting directly with books.

[MaddyMax]

If i want to receive payment from another person, can i do it only with coinbase or do i need block chain too. Why do we need blockchain...why not just use coin base to send it to the book then get it out of the book?

[Optional]

Will Bitstamp block your account if you do transactions with sportsbooks?

Not that I have heard.