5Dimes Sportsbook updates policy on bitcoin withdrawals

[SBR Forum]

5Dimes Sportsbook (SBR rating A+) has updated their policy on bitcoin withdrawals. Effective immediately, SBR has learned that players who have not deposited through bitcoin are able to collect one free payout in BTC every 7 days for up to $1,000. This is subject to availability. Prior to this policy, only players who had deposited in bitcoin were able to take advantage of the free payouts. Management tells SBR that player interest is high on the added cashier option. Users with feedback are encouraged to write to mail@sportsbookreview.com.

[jjgold]

[trytrytry]

the future is here. a very bold and leading move for the industry by 5dimes.

[TheMoneyShot]

I agree TRY. I was a bit skeptical about this. It looks like this is the future. If BTC goes rock bottom for whatever reason... a lot of unhappy gamblers will follow. Oddly enough the value keeps on dropping.

[BIGDAY]

5D continues to lead industry.

[CWD]

forget about bitcoin crashing what abou the daily fluctuations? not out of the realm of possibility that you could withdraw 1000 and its only worth 700-800 a few days later, sure doesnt seem worth the risk to me unless you have an automatic way to cash out btc quick, which has been proven here really doesnt exist right now

kind of seems like the players are the ones doing the favors not the sportsbook

[HuskerExpat]

Plenty of ways to immediately cash out. You're not looking hard enough if that is your concern.

[Monitor-Tan]

ok so how do I get this bitcoin wallet now...

[Domestic]

ok so how do I get this bitcoin wallet now...

https://bitcoin.org/en/choose-your-wallet

[CWD]

Plenty of ways to immediately cash out. You're not looking hard enough if that is your concern.

this has been beat to death here way too many times on here already and for all the discussion i have yet to see one single way to get your btc quick and without fees.

5dimes isnt doing anyone any favors in this case its just their way of dumping the coins out quick before they lose value and they have to take the loss.

[HuskerExpat]

this has been beat to death here way too many times on here already and for all the discussion i have yet to see one single way to get your btc quick and without fees.

5dimes isnt doing anyone any favors in this case its just their way of dumping the coins out quick before they lose value and they have to take the loss.

Well, now you're changing the parameters by adding "without fees," because clearly you're wrong that you can't "instantly cash out bitcoins." There are plenty of ways to immediately cash out BTCs, but most of them do come with a small fee. You can cash out at Bitstamp, for instance, for around a 0.50% fee. On $1,000, that is $5. Assuming I was interested in avoiding the risk of a market fluctuation, the convenience of the deposit/withdrawal options for BTCs would make that worth it for me. Much better than using Wxx Uxx, waiting for a check or whatever.

I seriously doubt 5Dimes is holding a large inventory of bitcoins and need to "dump" them. They very likely hold a small inventory of BTCs and then otherwise liquidate or buy more as necessary. The reason they like bitcoins is much more likely that BTC transfers are instantaneous, nearly free and irreversible, which is the same reason their customers like them.

[TheMoneyShot]

It's a good point by CWD. That Nitrogen Sports thread was an amazing read. I guess if you get amazing low vig while using BTC to fund and withdrawal... and you only losing $5-$10 tops... you probably saved that on VIG alone on a few losses. You have to weigh the pros and cons. But someone is going to narrow this thing down... and you're going to be able to trade super fast. Almost like the days of when PayPalllllllll was legal. That was some seriously fast deposits and PO's. Wow.

[CWD]

Well, now you're changing the parameters by adding "without fees," because clearly you're wrong that you can't "instantly cash out bitcoins." There are plenty of ways to immediately cash out BTCs, but most of them do come with a small fee. You can cash out at Bitstamp, for instance, for around a 0.50% fee. On $1,000, that is $5. Assuming I was interested in avoiding the risk of a market fluctuation, the convenience of the deposit/withdrawal options for BTCs would make that worth it for me. Much better than using Wxx Uxx, waiting for a check or whatever.

I seriously doubt 5Dimes is holding a large inventory of bitcoins and need to "dump" them. They very likely hold a small inventory of BTCs and then otherwise liquidate or buy more as necessary. The reason they like bitcoins is much more likely that BTC transfers are instantaneous, nearly free and irreversible, which is the same reason their customers like them.

bitstamp site states 2-3 days for withdrawls so thats not instant

plenty of ways, no there isnt yet, unless you live near one of the few btc atms.

lets say i make a 2000 withdrawl from 5dimes and i want the money the same day, point me to how i can get the money that night, cause i dont know, fees or not, doesmt matter. i'm looking for more than "they are out there if you look"

if i saw or knew of one i would be a fan

[Darkside Magick]

Bitquick.....right into your bank account!

[bookie]

Way to go 5dimes! I'm glad to hear they've had so much interest in this option, and that they're responding.

Next up, betting in BTC with winnings being sent directly to player's wallet.

[HuskerExpat]

bitstamp site states 2-3 days for withdrawls so thats not instant

plenty of ways, no there isnt yet, unless you live near one of the few btc atms.

lets say i make a 2000 withdrawl from 5dimes and i want the money the same day, point me to how i can get the money that night, cause i dont know, fees or not, doesmt matter. i'm looking for more than "they are out there if you look"

if i saw or knew of one i would be a fan

Your original point was that you couldn't instantly cash out your bitcoins to avoid the risk of market fluctuations. You can instantly sell on Bitstamp (or many other exchanges). That addresses the point of avoiding market fluctuations. Now you keep changing your point that it is with a small fee, or takes a couple of days for the money to hit your bank account after you sell at bitstamp, etc. That's true, but my only point is that you were wrong when you said you can't instantly cash out to avoid the risk of market fluctuations in the value of bitcoins.

[swordsandtequila]

forget about bitcoin crashing what abou the daily fluctuations? not out of the realm of possibility that you could withdraw 1000 and its only worth 700-800 a few days later, sure doesnt seem worth the risk to me unless you have an automatic way to cash out btc quick, which has been proven here really doesnt exist right now

kind of seems like the players are the ones doing the favors not the sportsbook

this has been beat to death here way too many times on here already and for all the discussion i have yet to see one single way to get your btc quick and without fees.

5dimes isnt doing anyone any favors in this case its just their way of dumping the coins out quick before they lose value and they have to take the loss.

bitstamp site states 2-3 days for withdrawls so thats not instant

plenty of ways, no there isnt yet, unless you live near one of the few btc atms.

lets say i make a 2000 withdrawl from 5dimes and i want the money the same day, point me to how i can get the money that night, cause i dont know, fees or not, doesmt matter. i'm looking for more than "they are out there if you look"

if i saw or knew of one i would be a fan

1. Fluctuation in the average btc price is moot in the case of 5Dimes and a few others (I use them and JetWin); they convert to fiat @ deposit and back to btc upon withdrawal. $100 is $100.

2. Deposit and withdrawal fees are nil. Conversion fees are minimal. Coinbase charges me .1%, my bank fee is $0.15. And it's instant.

In a nutshell, I can buy btc from Coinbase instantly (new accounts limited to $100 per week for instant purchase, any amount above that is 4 days. It's a rolling limit, will increase incrementally after purchase until $100 is reached again day 7). After 30 days/verification process limit rises substantially and is instant. Send to wallet (don't use wallet provided by exchange. None of their business where you send your coins.) Deposit into book. Time before credited to account varies (JetWin within the hour, 5Dimes took a few hours). Withdrawal works the same way.

The bonus for me is I like betting soccer, and the options are 10 times better @ JetWin, Anonibet, etc. than other US facing books. It's a win for me, may not be for you. My 2 cents.

[CWD]

Your original point was that you couldn't instantly cash out your bitcoins to avoid the risk of market fluctuations. You can instantly sell on Bitstamp (or many other exchanges). That addresses the point of avoiding market fluctuations. Now you keep changing your point that it is with a small fee, or takes a couple of days for the money to hit your bank account after you sell at bitstamp, etc. That's true, but my only point is that you were wrong when you said you can't instantly cash out to avoid the risk of market fluctuations in the value of bitcoins.

why is it EVERY poster here supporting bitcoin argues like a child instead of having a simple discussion?

[HuskerExpat]

why is it EVERY poster here supporting bitcoin argues like a child instead of having a simple discussion?

We are having a simple conversation. I'm just pointing out that your original point was wrong. I'm not arguing with your subsequent points. It seems to me you're the one who is arguing like a child by refusing to acknowledge that you were in fact wrong in your original point. You are right about your subsequent points, but then, I did not at any point contest those. In your quest to be right, you tried to change the argument to something I wasn't even contesting. THAT is the childish argument. Since when did pointing out that someone is wrong become childish?

[CWD]

We are having a simple conversation. I'm just pointing out that your original point was wrong. I'm not arguing with your subsequent points. It seems to me you're the one who is arguing like a child by refusing to acknowledge that you were in fact wrong in your original point. You are right about your subsequent points, but then, I did not at any point contest those. In your quest to be right, you tried to change the argument to something I wasn't even contesting. THAT is the childish argument. Since when did pointing out that someone is wrong become childish?

there is no automatic way to cash out btc quick, that was my original point and i have yet to see anyone post something to prove otherwise.

end thread.

[HuskerExpat]

forget about bitcoin crashing what abou the daily fluctuations? not out of the realm of possibility that you could withdraw 1000 and its only worth 700-800 a few days later, sure doesnt seem worth the risk to me unless you have an automatic way to cash out btc quick, which has been proven here really doesnt exist right now

kind of seems like the players are the ones doing the favors not the sportsbook

Clearly you are wrong about your point. It was that the fluctuations in BTC made it risky to hold BTC and you couldn't automatically cash out the BTC quick. You can "cash out" of BTC quick, but yes, it takes some time for the cash to actually hit your account. A day or two (depending on the exchange you use).

Quit changing your argument.

End of thread.

[CappinTerp]

I am not stupid and admittedly an tech. dinosaur ...............but still have trouble grasping this concept of bitcoins ..........in" God We Trust " ?

[scottgodson1985]

gotta give it to 5dimes, cut out the paper trail!

[neme999]

..

[raiders72001]

there is no automatic way to cash out btc quick, that was my original point and i have yet to see anyone post something to prove otherwise.

end thread.

lots of ways to buy and sell bitcoins https://en.bitcoin.it/wiki/Buying_Bi...ewbie_version)

[raiders72001]

gotta give it to 5dimes, cut out the paper trail!

5Dimes is a great book and one of my favorites.

5Dimes still requires you to give them your personal information. With pure bitcoin books, you are anonymous.

[Double Bogey]

forget about bitcoin crashing what abou the daily fluctuations? not out of the realm of possibility that you could withdraw 1000 and its only worth 700-800 a few days later, sure doesnt seem worth the risk to me unless you have an automatic way to cash out btc quick, which has been proven here really doesnt exist right now

kind of seems like the players are the ones doing the favors not the sportsbook

You're failing to see the other side of it. The value could easily go up right after a withdrawal also. I'm always in support of more options. If you can't take a risk of fluctuation, keep the cash under the mattress and watch it shrink to pennies.

[PharaohUB]

there is no automatic way to cash out btc quick, that was my original point and i have yet to see anyone post something to prove otherwise.

end thread.

Use Local BitCoins - buy moneypak. Add moneypak to add DC you can pick up any 7eleven once for $4 fee. Usually you can sell your coins ABOVE market value if you want to buy a Moneypak, which easily neutralized any fees for card or for ATM. I've processed transactions in less than 10 minutes on there and had the money on my card. Try doing that anywhere else.

You can also have someone deposit cash into any major bank account of yours during normal business hours. Both options noted are a million times faster and easier than using ** or ** and waiting for your withdraw to be deposited.

Or use bitstamp and wait a whopping 2-3 days for it to hit your bank account. With little to no fees.

Or stay in the dark ages and wire money back and forth to some foreigner in the Carribean. I do not care.

[Sam Odom]

Taken a 100.00 hit last 30 days

[jonal]

Taken a 100.00 hit last 30 days

buy low sell high

[Darkside Magick]

All the drop in bitcoin is a correction....should never been @ $1100 early in the year.....going lower to gather the next wave of investors

[ItsMeMrMattE]

makes no sense to withdraw in bitcoin right now with its current downward trend. a gamble within a gamble.

[raiders72001]

Drop cause by Alibaba http://www.cryptocoinsnews.com/aliba...bitcoin-price/ . It will go back up soon.

[jjgold]

The coin can easily be manipulated because of the limited amount

The big investors are controlling it

[Domestic]

The coin can easily be manipulated because of the limited amount

The big investors are controlling it

JJ when are you buying in, you waiting for sub 350?