Withdrawal experience at 2 books

[Bsims]

There seems to be interest from new people in the process, timing, and cost when withdrawing funds from sports books via bitcoin. So I thought I'd document my experiences with actual withdrawals. Yesterday I initiated 2 withdrawals with the proceeds going to my Electrum wallet. From there I plan on sending them to my Bitpay debit card hence converting them back to USD.

Both were initiated at 11AM on Wednesday 01/17 with BTC hovering around $9,800.

5Dimes - Requested $2,000 (should be about 0.2 BTC). Went to Electrum wallet and generated a receive address. 5Dimes indicated the process will take 3-4 days due to heavy volume. From past experience I know I'll get an Email in a couple of days wanting to verify the withdrawal. Since I'll need to repeat the withdrawal address, I Emailed the address to myself to have a copy.

Heritage - Requested $1,000 (should be about 0.1 BTC). Again went to Electrum wallet and generated a different receive address. Heritage texted a code to my phone to be entered on the withdrawal form. I entered the code and pasted the address. It was rejected indicating I still needed the address. Then I remembered that with Heritage I need to paste the address, add a space , then backspace. The request was confirmed .

I did not request any special processing so I expect slow processing with heavy fees. We'll see.

[Bsims]

Thursday 01/18 6AM -Funds are still in sports books.

[littlekona]

On heritage I always enter 1234 in address box and enter the address in comments section then chat CS for them to enter it manually.....Thats a good tip you have I will try that as it never takes btc address for me in correct box...I am surprised Heritage did not send it out as I do many and always as long as before 2 PM Central Time it get processed same day normally hits my account between 3:30 and 4:30 like clockwork

[Bsims]

Thursday 01/18PM - Couple of slightly unexpected results.

5Dimes - Got security Email this afternoon, a day or two sooner than expected. Responded this evening with account number, password, and BTC address.

Heritage - Money still in account. I expected withdrawal to be initiated today.

[littlekona]

Thursday 01/18PM - Couple of slightly unexpected results.

5Dimes - Got security Email this afternoon, a day or two sooner than expected. Responded this evening with account number, password, and BTC address.

Heritage - Money still in account. I expected withdrawal to be initiated today.

Can u chat heritage and ask why as this is very unusual mine are always same day....what does it say in the withdraw payout section when u click is it pending? may have issies due to the address btc box....please update when u find out more tyvm

[Bsims]

....what does it say in the withdraw payout section when u click is it pending?

I checked the payout section as you suggested and the withdrawal was cancelled that day with the following reason

Cancel Reason: (Rollover requirement)
Cancel Comment: Rollover requirement. Also, for future payout requests, your request must contain an authorization code. Thank you.

Both seem like nonsense to me. I'll contact them later today.

[Bsims]

Final update on withdrawals.

5Dimes - Received withdrawal confirmation via Email sent at 11:42AM, almost exactly 48 hours after request. This was slightly better than expected. The withdrawal hit my Electrum wallet at 11:52AM. The amount received was 0.172198 BTC. This equated to ~$2,000 at the current price. The request was made when BTC was ~$9,800. Had 5Dimes fixed the price then I would have gotten ~0.2 BTC or ~$300 more than I actually got. That's disappointing because I specifically initiated the withdrawal to take advantage of BTC;s low price at that time. But the timing of the conversion to BTC at actual payout time might be 5Dime's normal policy.

I then initiated a transfer of $2,000 from Electrum to the Bitpay card at 12:10.It was completed in less than 10 minutes. I had successfully added $2,000 to my Bitpay card.

I ended up paying 0.001818 in BTC fees (about $21) and really never experienced any unusual delays.

Heritage - I have not contacted Heritage about why my withdrawal was initially cancelled. The point of the withdrawal was to take advantage of the dip in the price of BTC, and that moment has passed. I've decided to keep the funds in Heritage and double it on Sunday's NFL games.