Bitcoin Sportsbooks: What factors matter if you are going Bitcoin bookie?

[CWD]

that's actually not what you said:

"cant deposit to a book anonymously "

its your world groupie

[ItsMeMrMattE]

@sport_quant99 that goofy Vitalik guy is going to be super rich one day i think. if i had some bitcoins i would be buying ether right now. potential for a huge upswing in value if this thing takes off. this isn't the type of company that will ever go public, right?

[sports_quant99]

so are you saying that until that time comes, btc books will essentially act as a middle man with relationship to the btc transaction? i.e. a 3rd party "btc bank" (if you will) will accept the btc deposits and execute btc payouts to the player? and thus the btc book will essentially only have a 1st party relationship with the player when it comes to bookmaking?

For some books, yes, those will all be true. But books like 5Dimes have taken it a step further, they are taking bitcoin, and like you talked about above, they are taking on some currency risk.

[sports_quant99]

@sport_quant99 that goofy Vitalik guy is going to be super rich one day i think. if i had some bitcoins i would be buying ether right now. potential for a huge upswing in value if this thing takes off. this isn't the type of company that will ever go public, right?

Good question, not sure if Ethereum is a corp, or a non-profit, or what their goals are.

[ItsMeMrMattE]

@sports_quant99 do you own any bitcoin? have you looked into purchasing ether?

[jjgold]

read this thread and you realize why very few people will use bitcoin

most confusing currency of all times

[ACoochy]

The fact that people continue to put their hard earned cash into unregulated currency that can burst any day is truly mind boggling.
There are plenty of low to high risk investment vehicle out there to play with where you wouldn't have to sweat the uncertainty that this whole Bitcoin world brings.

Rocket come back to us when btc has the ability to hold the global fiscal system to ransom aka 2008 banking crisis.

Something you lot are still paying for several years later...

[ACoochy]

read this thread and you realize why very few people will use bitcoin

most confusing currency of all times

knowledge is power and those who have neither are left behind...

[sports_quant99]

@sports_quant99 do you own any bitcoin? have you looked into purchasing ether?

No, dont own any yet. Still betting the old-fasioned way, but the hassles are very annoying. Looking for a good bitcoin book, strongly considering AsianConnect88. Not sure what you mean by 'buy Ether'.....

[ItsMeMrMattE]

@sports_quant99 ether is the only way to become invested in ethereum, that i know of, at the moment. its what is going to be needed for those interested in building applications on the platform. or for people like me that dont want/know how to build applications ether can be sold to those that do want to do this at a later date. right now the first batch is for sale, 13 days left in the sale. each day the amount of ether per btc goes down. id be all over it if they took USD, but they are only taking btc, and idk for what ever reason i just dont feel like going through everything it takes to get btc. but anyone reading this who already has btc and is looking to sell or do something with it, check out ethereum.

[sports_quant99]

@sports_quant99 ether is the only way to become invested in ethereum, that i know of, at the moment. its what is going to be needed for those interested in building applications on the platform. or for people like me that dont want/know how to build applications ether can be sold to those that do want to do this at a later date. right now the first batch is for sale, 13 days left in the sale. each day the amount of ether per btc goes down. id be all over it if they took USD, but they are only taking btc, and idk for what ever reason i just dont feel like going through everything it takes to get btc. but anyone reading this who already has btc and is looking to sell or do something with it, check out ethereum.

Thanks, i didnt know that. I will check into that...

[Domestic]

read this thread and you realize why very few people will use bitcoin

most confusing currency of all times

Tools are still being built around bitcoin and the bitcoin protocol to make it more and more user friendly for the average person. I can tell you personally it is already much easier to use and understand than it was just three years ago and the trend should continue as more VC money pours in.

As far as what factors matter to me when when it comes to a BTC book.
Not having to wait for confirmations when making a deposit, books that make you wait for 5 confirmations or so are stripping away one of the main advantages of bitcoin unnecessarily. No one is going to use a double spend to deposit a few btc at a sportsbook.

And similar to that I also expect withdrawals to be processed as soon as possible. With no threat of CC chargebacks there should be little hesitation in processing withdrawals as long as staff are present.

Right now Nitrogen is the only book I've used that is doing a good job of this. There may be others but I have not used them yet.

[jjgold]

I think Bitcoin has a lot of potential but has to be more simplified and centralized

I am keeping an open cautious mind

[Optional]

The Ehtereum concept sure does sounds interesting! https://github.com/ethereum/wiki/wik...5D-White-Paper

Person to Person direct betting exchange has to be one of the first apps.

Be funny if these guys managed to sell $13 mill worth of this stuff called "ether" as a joke/scam though. The name is a bit of a worry!

The white paper sounds a bit like it's still dreamware.

[sports_quant99]

The Ehtereum concept sure does sounds interesting! https://github.com/ethereum/wiki/wik...5D-White-Paper

Person to Person direct betting exchange has to be one of the first apps.

Be funny if these guys managed to sell $13 mill worth of this stuff called "ether" as a joke/scam though. The name is a bit of a worry!

The white paper sounds a bit like it's still dreamware.

Yes....Bitcoin, Ethereum, cryptocurrencies, etc are all where the internet was in 1993/1994. It's the Wild West, lots of growing pains, lots of scams, lots of skeptics, "just a fad", etc..... they will all grow up and mature and gain mass adoption, just like the internet has.

[Domestic]

I think Bitcoin has a lot of potential but has to be more simplified and centralized

Centralized?
Please elaborate on why bitcoin needs to be more centralized.

[jjgold]

There are like 100 exchanges
All different prices and third-party vendors, etcetera


A lot of time you need a bank account to buy

I rather just trade bit coin on a licensed currency brokerage outside of the USA

[CWD]

Yes....Bitcoin, Ethereum, cryptocurrencies, etc are all where the internet was in 1993/1994. It's the Wild West, lots of growing pains, lots of scams, lots of skeptics, "just a fad", etc..... they will all grow up and mature and gain mass adoption, just like the internet has.

dont get comparison at all internet wasnt threat to any currencies gove wasnt trying to end it

[raiders72001]

"A" rated books
Anonibet A (2011)

"B"rated books
NitrogenSports B+ (2012)
Betcoinsports B- (2013)
Casinobitcoin B- (2013)

"C" rated books
SBObitcoin C+ (2013) *
Cloudbet C+ (2013)
Jetwin C (2013)
BetOWI C- (2014) *
BetVIP C- (2014)

"D" rated books
Coindraft D+ (2014)
Roadbet D+ (2012)
Gobetgo D+ (2014)
Bitbm D+



"F" rated books
BetCas F
Bitcoinsport F
Bitcoinlivebets F
Coinbet F
Sportbet.im F
StakeBTC F
Blockbet F
Bitbook F
Webetcoins F


NR
Darkbet
Betmoose
Fairlay
Cointeller
xbet.io
Pocketrocketscasino.eu/sports
Predictious
tdsports
betxcp
Bitcoinvegas
betabit
altbetfair
finalstake
Asianconnect88
Premiumtradings

* longer accepting cash deposits

Maximum grade based upon time in business:

A - 2 years
B - 1 year
C - 3 months
D - 1 month
F - reserved for books that are scams, slow paying or stiffing players

[NunyaBidness]

dont get comparison at all internet wasnt threat to any currencies gove wasnt trying to end it

Governments aren't trying to end the internet?

You should spend some time researching Net Neutrality.

[raiders72001]

Nitrogen is the best for the NFL. They are -105 sides and total. They also have an exchange. It's one of the bigger shops as far as employees. You won't have any problems getting paid. Deposits and withdrawals are immediate.

I like Anonibet for European sports because of the offerings and props. If you click on the link in my above post, you can see the offerings for all the bitcoin books. Anonibet is also a big shop compared to other bitcoin books.

Betcoinsports and Casinobitcoin are also good books. Sticking with those 4 should keep you safe. The small 1 man or 2 men shops go under if they don't expand fairly quick. Most of the "F" rated books were tiny shops open less than a year.

[CWD]

Governments aren't trying to end the internet?

You should spend some time researching Net Neutrality.

[sports_quant99]

Nitrogen is the best for the NFL. They are -105 sides and total. They also have an exchange. It's one of the bigger shops as far as employees. You won't have any problems getting paid. Deposits and withdrawals are immediate.

I like Anonibet for European sports because of the offerings and props. If you click on the link in my above post, you can see the offerings for all the bitcoin books. Anonibet is also a big shop compared to other bitcoin books.

Betcoinsports and Casinobitcoin are also good books. Sticking with those 4 should keep you safe. The small 1 man or 2 men shops go under if they don't expand fairly quick. Most of the "F" rated books were tiny shops open less than a year.

Do any of these shut you off if you win and/or bet large amounts? I'm looking for the Pinnacle equivalent of a bitcoin sports book

[raiders72001]

Do any of these shut you off if you win and/or bet large amounts? I'm looking for the Pinnacle equivalent of a bitcoin sports book

Because it's anonymous, they can't cut you off. The only problem is that the limits aren't that high. SBOBitcoin is a bitcoin agent for Pinny and SBOBet. You can get the same limits that you get at Pinny.

SBObitcoin is an agent of the top sports books in the world in PinnacleSports, SBOBET and IBCBET. Players deposit bitcoins with SBObitcoin and they are then exchanged for your choice of Hong Kong dollars or Singapore dollars. The Asian dollars are then deposited into the sports book. The exchange rate of your deposits and withdraws will stay the same and not fluctuate. It takes 3-5 minutes for withdraws and six confirmations are needed for deposits. Live chat is open 24/7.SBObitcoin has been in business for six months with bitcoin accounts and seven years overall. SBObitcoin states that they are one of the products of Ole Group Philippines Inc., and are licensed and regulated by the Government of the Philippines under First Cagayan Resort & Leisure Corporation.

There have been no reports of payout problems with SBObitcoin. Both Pinnacle Sports and SBOBET are top rated sports books in the world taking the highest wagers. Pinnacle takes the largest wagers on American sports while SBOBET takes the largest wagers in soccer. The book hold at Pinnacle is the lowest in the industry and SBOBET is not far behind.

[jjgold]

Good review there Raiders....I just don trust them yet
How the heck do you know who owns these places and I guess no regulations??
Cant they just run off with Coins??

Nitrogen is the best for the NFL. They are -105 sides and total. They also have an exchange. It's one of the bigger shops as far as employees. You won't have any problems getting paid. Deposits and withdrawals are immediate.

I like Anonibet for European sports because of the offerings and props. If you click on the link in my above post, you can see the offerings for all the bitcoin books. Anonibet is also a big shop compared to other bitcoin books.

Betcoinsports and Casinobitcoin are also good books. Sticking with those 4 should keep you safe. The small 1 man or 2 men shops go under if they don't expand fairly quick. Most of the "F" rated books were tiny shops open less than a year.

[raiders72001]

Good review there Raiders....I just don trust them yet
How the heck do you know who owns these places and I guess no regulations??
Cant they just run off with Coins??

Most of them you have no idea but one is licensed in Curacao and one is publicly traded. I treat them the same as the cash books. The most important thing is payout history without problems.

The other nice thing is you can withdraw money at will so you don't have to keep a big balance with them. Just deposit when you want to make a bet and deposits are instant with some of the books. It's listed on the chart.

http://i.imgur.com/Us0wIED.jpg

[muldoon]

Good review there Raiders....I just don trust them yet
How the heck do you know who owns these places and I guess no regulations??
Cant they just run off with Coins??

Who owned BetIsland? Did knowing the owners names help?

Upload just how much you want to wager...win your bet (hopefully), pull it back to your wallet.

As opposed to upload funds..win your bet/bets...then wait clearing time...oops, sent you a bad check...we'll send you W/U....oh...wrong name..sorry...can you send us your ID and some utility bills, it's our processor that's at fault...oh wait, you used a vanilla card...we've sent your withdraw request to our security department.

[sports_quant99]

Because it's anonymous, they can't cut you off. The only problem is that the limits aren't that high. SBOBitcoin is a bitcoin agent for Pinny and SBOBet. You can get the same limits that you get at Pinny.
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Awesome info, thanks! They are rated C+ for now, but that should improve as they gain a track record. This is exactly what i am looking for.

[sports_quant99]

Who owned BetIsland? Did knowing the owners names help?

Upload just how much you want to wager...win your bet (hopefully), pull it back to your wallet.

As opposed to upload funds..win your bet/bets...then wait clearing time...oops, sent you a bad check...we'll send you W/U....oh...wrong name..sorry...can you send us your ID and some utility bills, it's our processor that's at fault...oh wait, you used a vanilla card...we've sent your withdraw request to our security department.

Exactly, this is one of the biggest appeals to me in a bitcoin book. The ability to withdraw immediately, minimizing payment risk (partially depending on their rollover requirements)...

[raiders72001]

Exactly, this is one of the biggest appeals to me in a bitcoin book. The ability to withdraw immediately, minimizing payment risk (partially depending on their rollover requirements)...

If you don't take bonuses, there isn't a rollover. A few offer bonuses and one gives a rebate up to 10% on loses.

[raiders72001]

I'd also like to add that you shouldn't use Coinbase as a wallet to deposit into a bitcoin book. Coinbase has shut down accounts for those suspected as gambling. I personally use Blockchain.info but there are many wallets.

[Domestic]

Good review there Raiders....I just don trust them yet
How the heck do you know who owns these places and I guess no regulations??
Cant they just run off with Coins??

It's not like regulations have stopped fiat books running off with people's money in the past.

Most bitcoin books worth their salt maintain a public presence on popular bitcoin forums and if someone is having a payout problem people will scream and shout about it and if the book does not act it will tarnish their image in a community where there are already multiple books competing for BTC business.

Also no one is saying deposit thousands into a bitcoin book, the good thing is you can deposit as little or as much as you want at Nitrogen for example and withdraw what you want whenever you want. No ridiculous rollover unless you are using some kind of freebet promotion. Unless Americans live in Vegas, have a really good local or are fine with the Costa Rican books they'd be crazy not to at least give it a try.

[HuskerExpat]

To all the anti-bitcoin people in this thread who say it is useless and not worth having the discussion, maybe you should consider the relevance just by the mere fact that we're having this discussion. Compare the level of discussion to this time last year. Maybe an increase in interest, perhaps? There is a certain momentum to bitcoins and bitcoin sportbooks. Bitcoins are not going away, it is too established already. Think about what it is going to be like in the summer of 2015, if the momentum from 2013-14 continues....

[jjgold]

There's a big increase in interest and hopefully next year even more we all want this to work and be very easy

Hope it's the wave of the future

[sports_quant99]

If you don't take bonuses, there isn't a rollover. A few offer bonuses and one gives a rebate up to 10% on loses.

Thank you! I assume they take US players?