[PharaohUB]

They cover fees for people to people?

I'm surprised they don't incentivize people more to use bitcoin and cover some fees. A lot of us lose a percentage whether we go through ATM, or a peer to peer site. Right now the traditional books are reaping all the benefits from bitcoin. Effectively, all transaction costs are now our problem, and they get so many other benefits too. Not only do they not reimburse fees with bitcoin, they don't have to worry about the processing fees on their end with the third party either. They dont have to pay Juan Francisco Pablo Moya Gonzales to go pick up their funds anymore. Don't forget the reduced risks of getting in trouble with U.S. getting caught moving cash around.

You could easily provide the USD amount you paid. I get that it's a bit more complicated as many people buy bitcoin and spread it around over the place. But they can just offer it for same day purchases where the full amount is being deposited in their book... then require a small roll over, a cap, and limits for how many times a month they can do it?

I get that some of the books offer better bonuses, but what if I don't want to roll over my account 20 times?

I honestly think if books would do this, they would get some business back that they lost to the bitcoin books. I'm guessing they just don't care because right now they are raping who is left at their site, and nobody is saying anything about it.

[Optional]

There really is only a few cents in provable fees with a bitcoin transfer and I'm not sure how they could validate stuff like ATM fees.

I agree maybe an option of taking a 10% bonus with 3x rollover to help offset any market rate change risks sounds good though.

I like the way Betonline do it. When you initiate a deposit they guarantee a rate if sent within 15 mins so if you send the exact amount of bitcoin quoted you get the exact amount of US$ in your account.

Although I have to say that I seem to end up with a little more than I expect most times I've deposited to 5Dimes with btc.

[PharaohUB]

There really is only a few cents in provable fees with a bitcoin transfer and I'm not sure how they could validate stuff like ATM fees.

I agree maybe an option of taking a 10% bonus with 3x rollover to help offset any market rate change risks sounds good though.

I like the way Betonline do it. When you initiate a deposit they guarantee a rate if sent within 15 mins so if you send the exact amount of bitcoin quoted you get the exact amount of US$ in your account.

Although I have to say that I seem to end up with a little more than I expect most times I've deposited to 5Dimes with btc.

Every bitcoin ATM I've used provides a receipt with cash paid and bitcoins received. If you pass those coins onto the book say within 30 minutes, and send in the time stamped receipt, why can't they credit it with what you paid in USD? Nobody is going to make money by using a bitcoin ATM even if the price somehow ddropped 15% in 30 minutes. It wouldn't be a profitable proposition for someone to try to take advantage of this.
Also wherece can you get Bitcoin quickly (same day) for a few cents? P2P is same day and they reimburse the fees. It's not much to ask for them to throw a bone on same day bitcoin deposits. You can use Gemini and wait 5 days for a $2 fee yes, but that's not any good for recreational bettors. Bitcoin ATMS you're paying somewhere around 10-15%. Localbitcoins/Paxful you're likely paying somewhere around 5-10%. Circle was an instant option for cheap, but is no longer in business of bitcoin. Coinbase I don't know what they are doing these days. I'm not eligible to sign up. A majority of people who need to use bitcoin, don't exactly live in jurisdictions that are making bitcoin easy to obtain. I travel for work, and it's not much better other places in country than me either, so it's not just me experiencing this. I easily average about 10% in transaction fees if I want to get bitcoin the same day.

If they don't want my business fine, but I would switch back to the Heritage's of the world if they would help out with the fees like they do for other options. I don't see bitcoin books doing this with their model of quick in/quick out, so it could be a way for them to reel people back to use traditional books more. If they were making money covering people fees, they could make money covering some of the costs we now incur.

You can't really argue that books are reeping all the cost benefits of bitcoin. Their margins are clearly higher on bitcoin deposits due to reasons mentioned in my first post (processing costs reduced, fee reimbursement no longer, reduced risk). It would be nice if they could pass some of that down to the consumer. Even if not for the kindness in their heart, for the business reasons I mentioned.

[PharaohUB]

Also I'm not suggesting this is the books fault. They are obviously in business to make money, and if nobody is asking and business is flourishing since bitcoin arrive, I can see why they are not considering this.

I can choose where I play, so this is not really a complaint. I'm suggesting that they might win some people back if they did do this. And maybe if people started the conversation and asked for this the whole traditional book industry could benefit.

[Cookie Monster]

Sportsbooks business model usually means to subsidize for deposits (giving bonuses, reimbursing fees, etc). Subsidizing withdrawals would be against their business. They want to keep your money, if you want to withdraw you have to pay. If any, bitcoin makes withdrawals much cheaper now.

[PharaohUB]

Sportsbooks business model usually means to subsidize for deposits (giving bonuses, reimbursing fees, etc). Subsidizing withdrawals would be against their business. They want to keep your money, if you want to withdraw you have to pay. If any, bitcoin makes withdrawals much cheaper now.

I guess that is a point. They probably were profiting on withdraws in the past, and they are passing along their savings on deposits by giving free withdraws. I'm sure it's one of the reasons they don't want you to deposit other methods where you are potentially having them cover the fees, and then withdraw. Problem here is that the the bitcoin books are light years ahead regarding withdraws anyway, so traditional books need to stay relevant and offer an advantage on the deposit side. I mean what's the competitive advantage at this point? Contests? There's very few lines I can't find at a bitcoin book out there and get money in and out same day and usually have better odds too.

I just think there's gotta be a happy middle somewhere for impulsive depositors like me who just want to put a few hundred down cause its raining outside. The fact is that traditional books are getting cost savings from bitcoin no matter how you slice it, and the players cost to deposit has gone up. I miss the days of seeing good ole $ in front of my balance. 0.5 doesnt look as nice as $500, but if I'm going to pay an extra $50 for that deposit and not get compensated I might as well go somewhere that has instant withdraws and better odds. They are still relying on their reputation and people not trusting bitcoin books as much. That will change, and better offerings will come out. They are a dying breed. Take the advice or don't... if anyone out there is listening.

[TheMoneyShot]

They cover fees for people to people?

I'm surprised they don't incentivize people more to use bitcoin and cover some fees. A lot of us lose a percentage whether we go through ATM, or a peer to peer site. Right now the traditional books are reaping all the benefits from bitcoin. Effectively, all transaction costs are now our problem, and they get so many other benefits too. Not only do they not reimburse fees with bitcoin, they don't have to worry about the processing fees on their end with the third party either. They dont have to pay Juan Francisco Pablo Moya Gonzales to go pick up their funds anymore. Don't forget the reduced risks of getting in trouble with U.S. getting caught moving cash around.

You could easily provide the USD amount you paid. I get that it's a bit more complicated as many people buy bitcoin and spread it around over the place. But they can just offer it for same day purchases where the full amount is being deposited in their book... then require a small roll over, a cap, and limits for how many times a month they can do it?

I get that some of the books offer better bonuses, but what if I don't want to roll over my account 20 times?

I honestly think if books would do this, they would get some business back that they lost to the bitcoin books. I'm guessing they just don't care because right now they are raping who is left at their site, and nobody is saying anything about it.

I totally agree with what you're saying. At one point I felt the same way. Especially when you lose all your bitcoins... and you're like... damn I have to find a way to get some more and fund my acct ASAP.

It can get very expensive to make a quick deposit... especially if you wager large. You could lose $60 in fees instantly. Possibly more... depending how large you go.

Don't really have a 100% correct explanation as to why? But I'm sure the books are happy.

Cookie makes a great point though... the PO's are pretty much FREE.