I had no problems depositing bitcoins to sportsbooks. Now requesting a payout is completely different. When I request a payout from 5dimes it's asking for a bitcoin address. Can someone go through the steps of generating an address through coinbase. Please be very simple and specific since I never asked for a payout using coinbase.
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I highly suggest not depositing/withdrawaling from your book straight to Coinbase. You’ll want an additional wallet between the two. If Coinbase suspects the money is from gambling, they may close/suspend your account.Comment -
You should take into account what Slanina said and use a middle man wallet. But to help you understand the basic steps if you were withdrawing from a bookmaker to your Coinbase bitcoin wallet (or any bitcoin wallet) this is the basic steps.
1) Open up Coinbase and click to your BITCOIN wallet and then click Receive/Deposit. You will be given an address to receive your incoming bitcoin with.
2) Go to the bookmaker and click withdraw and in most cases you will be asked for an amount and your wallet address to receive the payment. This is where you paste the wallet address you got from Coinbase.
That's about it.
Now as Slanina mentioned it is against Coinbase terms of service to use them for gambling. They cannot easily catch you but it is possible so it is considered sensible to respect their terms and not send directly to or from a book and coinbase.
Most people getting started will use the bitcoin.com/wallet as their "middle man" wallet for this purpose.
If you do this too, it;s basically the same process as above but you give the Blockchain.com/wallet receive address to the book and once they send it to you there, you click SEND in that wallet and use a receive address from Coinbase in that form.
Hope that makes sense..Comment