GT Bets - Neat payout experience

[soxwin1917]

Let me preface this by saying to Opti - I understand if you need to delete this. It's about a certain payout method, but I thought it was worth sharing to give a tip to the players.

So in the past I've taken the payout method at GT where without saying the name...they send it straight to your bank account. It's an old school method and it gets there much faster than they advertise. However they switched my payout for $4,000 to the method where they send it back to your card. I don't have any problem with that. Also, as I'm sure you're aware most CC's charge foreign transaction fees on deposits because these processors are overseas.

Without wasting more of your time, when the money was finally back to my card (took about 7 business days, which felt too long but only because I hadn't used this method before) my card refunded the transaction fees on my previous deposits since this payout was sent as a series of refunds. So my $4000 payout came out to $4290.

Just something to keep in mind when you're choosing a payout method at whichever book you're at. Kudos to GT Bets.

[mtneer1212]

Let me preface this by saying to Opti - I understand if you need to delete this. It's about a certain payout method, but I thought it was worth sharing to give a tip to the players.

So in the past I've taken the payout method at GT where without saying the name...they send it straight to your bank account. It's an old school method and it gets there much faster than they advertise. However they switched my payout for $4,000 to the method where they send it back to your card. I don't have any problem with that. Also, as I'm sure you're aware most CC's charge foreign transaction fees on deposits because these processors are overseas.

Without wasting more of your time, when the money was finally back to my card (took about 7 business days, which felt too long but only because I hadn't used this method before) my card refunded the transaction fees on my previous deposits since this payout was sent as a series of refunds. So my $4000 payout came out to $4290.

Just something to keep in mind when you're choosing a payout method at whichever book you're at. Kudos to GT Bets.

Good story...... just be careful. The CC company doesn't like refunding those fees, but are required to by banking standards. If you have a lot of 'refunds', they will scrutinize those payments, and likely make an educated guess on what is occurring. You could have your limits cut by the CC company, or become a person that they wish to not do business with.

Basically, what I am saying is don't make a habit of doing this often.

[soxwin1917]

Good story...... just be careful. The CC company doesn't like refunding those fees, but are required to by banking standards. If you have a lot of 'refunds', they will scrutinize those payments, and likely make an educated guess on what is occurring. You could have your limits cut by the CC company, or become a person that they wish to not do business with.

Basically, what I am saying is don't make a habit of doing this often.

Copy that. I'll stick to the old fashioned method. Thanks for the advice.

[Optional]

That was a lucky 'bonus'.

[FreeFall]

Thanks for sharing. Have you had an experiences with using an electric "coin" that might be bits? Curious how that works there.

[bobbywaves]

What I find disturbing is "paying transaction fees for deposits" in the first place, totally absurd. I would never do business with cheesy books like GT & Bovada who charge deposit fees, as the majority don't charge.

[mtneer1212]

What I find disturbing is "paying transaction fees for deposits" in the first place, totally absurd. I would never do business with cheesy books like GT & Bovada who charge deposit fees, as the majority don't charge.

I think the transaction fees came from the CC company not the book.

[bobbywaves]

I think the transaction fees came from the CC company not the book.

Not sure about GT, but Bovada charges for deposits.

[sourtwist]

Neat story

[Kindred]

Good story...... just be careful. The CC company doesn't like refunding those fees, but are required to by banking standards. If you have a lot of 'refunds', they will scrutinize those payments, and likely make an educated guess on what is occurring. You could have your limits cut by the CC company, or become a person that they wish to not do business with.

Basically, what I am saying is don't make a habit of doing this often.

I've had this happen, had to get the sportsbook to send some document to give to the cc company saying it was a refund for some purchase or another. It was because the payout was more than the amount I deposited. I had done it twice before having a problem, because I had no purchases on that card matching the amount of the money sent back to the card.
This wasn't at GT bets but it was using the same method. Works great, but too large of a payout or doing it too often with the same card might cause you some hassles. I still go the payout but sucked having to deal with the questions from my cc company.

[ico2525]

I'm not saying you're lying, but I don't much believe that the b2c method causes these alleged problems. I've used the method to get back more than my balance and had credit balance for a while. I think it would have to be something outrageous like leaving your account with a credit balance that is several times more than your credit limit.

Question about larger payouts for that matter. Any flexibility on GT's weekly payout "limits" per method?