I have a question about with drawling funds via Bitcoin.....

[Courtesywipe]

I have notice that there are many books where when you deposit via Bitcoin the limits are $5,000, $10,000, basically you can deposit as much as you want.

it comes to taking a payout via this same method and your options are to request $700(Bet Phoniex), $2,000(gtbets), $500(Betowi), $ 1,000 (1vice), Heritage can deposit $10,000 but only withdrawl,$3,000. The list goes on and on.

why I am happy to have a new avenue in request payouts It comes with obvious questions. Why can I deposit so much, but on withdrawl a fraction of what I deposit??

Optional, you seem to have a good,group on this kind of thing. Please take a minute and try to make me understand.

[Optional]

I don't know Swiper but I assume the disparity comes about because it is easier to receive and convert bitcoin from a multitude of paying sources than it is to convert and payout to many people from one source.

I know what you are getting at. It just looks like everyone wants to stall payments for big winners. But I doubt it is that simple. Not with all those books you mention anyway. Same books don't have a problem paying 5 figures to non-us locations via other methods.

[Buffalo Nickle]

Books would not do payouts if you did not deposit by bitcoin and I'm sure some still have that policy. My guess is they do not want to hold much Bitcoin and wish to go on a cash and carry basis. So if they need to payout, they prefer to buy and sell it in the same way that a lot of their customers do. You don't want to be caught with your pants down on this stuff. Having smaller payout amounts means they do not have to hold a ton of it and can just hold enough to meet average payouts on a daily basis.

[Courtesywipe]

Books would not do payouts if you did not deposit by bitcoin and I'm sure some still have that policy. My guess is they do not want to hold much Bitcoin and wish to go on a cash and carry basis. So if they need to payout, they prefer to buy and sell it in the same way that a lot of their customers do. You don't want to be caught with your pants down on this stuff. Having smaller payout amounts means they do not have to hold a ton of it and can just hold enough to meet average payouts on a daily basis.

This makes sense. Thanks,for information,

[mtneer1212]

The books do not want to hold a large amount of bitcoin because of its volatility. If they are holding 50K in bitcoin today, and it drops 20% in a week, they are out 10K. What is worse is that they then have to give you MORE bitcoin to make your payout. It is risky for them to hold a lot.

Yes, the flip side is also true -- if it goes up 20%, they make 10K..... but if that happens, they likely cash and convert immediately to lock in the profit.

[mtneer1212]

Books would not do payouts if you did not deposit by bitcoin and I'm sure some still have that policy. My guess is they do not want to hold much Bitcoin and wish to go on a cash and carry basis. So if they need to payout, they prefer to buy and sell it in the same way that a lot of their customers do. You don't want to be caught with your pants down on this stuff. Having smaller payout amounts means they do not have to hold a ton of it and can just hold enough to meet average payouts on a daily basis.

Sorry -- I responded without seeing your reply.

[RonPaul2008]

Bookmaker/Cris is better in this regard.