5dimes asking for password?

[JSnow]

I went to the live help on 5dimes to request my first cashout and the agent asked for my account number and password right away. I asked him why he needs my password, then he claimed to make sure I am the owner of the account. I understand for that reason he would need to log into my account and check the name in the account to who I claim to be.

Either way that means the agent can now access my account. I could change the password right after but I just wanted to know if this is standard procedure of a sports book?

Who says the agent couldn't do something shady and instead of getting my money, the money is gone a day or two later? If I later find out that a faxed copy of drivers license or passport is needed to get this money out... coupled with my account login info I know for sure that there is a huge potential for some kind of bullshit to happen.

Also right after I asked why do you need my password, he then said transfers take place Monday through Friday... I asked on Sunday not knowing. Just makes me suspicious.

Does anyone have insight on this?

[reno cool]

of course agent has to access the account. There's always some risk dealing with on-line books. But I see nothing out of the ordinary here.

[leda82]

CRIS group of books always ask for your password on their live chat. I don't recall ever being asked at 5dimes though.

[SBR Lou]

Welcome to SBR JSnow.

That is 5Dimes live chat procedure, as well as many sportsbooks. There is absolutely nothing to be fearful of in regard to your account security.

The only security measure you should take in general is to use a different password for each log-in you use online, and make it something that would be hard to guess.

[Data]

That is 5Dimes live chat procedure, as well as many sportsbooks.

That is true.

There is absolutely nothing to be fearful of in regard to your account security.

That is completely false. The fact that these horrible security procedures are implemented in a number of sportsbooks does not make those procedures any better and these procedure are certainly a reason for very big security concerns. Simply put, if a bettor gives a password to a CS rep that is no better then giving it to a complete stranger.

I personally refuse giving my password to Bookmaker reps. That does not work with 5Dimes, so I do not have much money there.

[JSnow]

Thanks for the info.

Still though I got one guy saying that he has never seen that at 5dimes, and others saying yes it's normal procedure for books in general. Then again there are more scam books out there than legit. I did choose 5dimes though cause they are known to be legit, but legit people use there reputation to abuse situations which is why I don't trust them or the rep when it comes down to it.

I have also never heard of passwords being needed until now, then again this is my first cashout. I've always heard a copy of passport or license faxed in is fine for other books.

Why they can't look up the name on the account instead of logging in to see the name inside of my account is beyond me. Anyone running a business with an online interface should have the ability to do that if accounts can be held on the site.

I guess I will have to change my password right after even though I have a very suspicious feeling that the terms of agreement said your password is final.

[BouncedCheck]

They'll let you change your password, but it has to be changed manually by CS, which pretty much defeats the purpose of changing it in your case.

[Venom518]

Thanks for the info.

Still though I got one guy saying that he has never seen that at 5dimes, and others saying yes it's normal procedure for books in general. Then again there are more scam books out there than legit. I did choose 5dimes though cause they are known to be legit, but legit people use there reputation to abuse situations which is why I don't trust them or the rep when it comes down to it.

I have also never heard of passwords being needed until now, then again this is my first cashout. I've always heard a copy of passport or license faxed in is fine for other books.

Why they can't look up the name on the account instead of logging in to see the name inside of my account is beyond me. Anyone running a business with an online interface should have the ability to do that if accounts can be held on the site.

I guess I will have to change my password right after even though I have a very suspicious feeling that the terms of agreement said your password is final.

Let me start by saying that the CS rep already knows your Password once you give them your account #. They are just verifying that it's you who is talking to them. You can also change your password any time, all you have to do is send them an email requesting so.

[JSnow]

Thanks for all the replies.

Requested a cashout on a valid day (monday) and they did not ask for a password this time or anything relating to my account, it was a different rep too. I just provided my bank wiring details and it was the end of the story.

Hopefully I see my money soon.

[EatToDrink]

I am also on 5dimes since few days.
Does 5dimes is really serious book ?
I saw advertising on sbrforum, so i think this book is good, but if people can confirm me this book is nice..
Is it easy to cash out with them ? ( not like bwin )

[SBR Lou]

I am also on 5dimes since few days.
Does 5dimes is really serious book ?
I saw advertising on sbrforum, so i think this book is good, but if people can confirm me this book is nice..
Is it easy to cash out with them ? ( not like bwin )

Player feedback indicates checks arrive within 2-4 business days.

[Dark Horse]

All books should have a feature where you can change your password online.
Books that don't allow this have their eyes closed to the real world. Standard security procedure suggests to change passwords at least once a year.

[EatToDrink]

Player feedback indicates checks arrive within 2-4 business days.

Thank for the answer

[JSnow]

Did a bank wire. Money arrived in my account within 1 - 2 days. Only downside is a $55 charge for the wire and there is no way to remove the money without paying a fee unless you use net teller or those other european based companies that issue credit cards to put your cashouts on.

That will be the end of betting on sports for me. Used 2 very reputable sports handicappers and both gave me bigger downdraws for a longer period of time that updraws for a short period of time. I think the most I was up was $160 for a week and was down $550 at one point for 3 weeks based off a $1000 account. Barely lost any money cause I got out when my account went back up and I saw the potential for large downdraws like that to have a permanent toll on my account.

Next month I looked... one of my handicappers had lost over $16,000. Good thing I left.

Seems like the only way to consistantly win with betting is to either bet on Mayweather for boxing or Martingale bet with a huge amount of capital on a book that has very low minimum bets and very large max bets.

Anyone who knows a good website to bet Martingale style let me know. I'll bet only on Mayweather.

[InTheHole]

^

JSnow...you scare me. If I was from the Think Tank I may have advised you to stop betting all together.

[InTheHole]

Thanks for the info.

Still though I got one guy saying that he has never seen that at 5dimes, and others saying yes it's normal procedure for books in general. Then again there are more scam books out there than legit. I did choose 5dimes though cause they are known to be legit, but legit people use there reputation to abuse situations which is why I don't trust them or the rep when it comes down to it.

I have also never heard of passwords being needed until now, then again this is my first cashout. I've always heard a copy of passport or license faxed in is fine for other books.

Why they can't look up the name on the account instead of logging in to see the name inside of my account is beyond me. Anyone running a business with an online interface should have the ability to do that if accounts can be held on the site.

I guess I will have to change my password right after even though I have a very suspicious feeling that the terms of agreement said your password is final.

The other guy is the head moderator of this website with years of experience in the industry. Youre paranoid man.

[The General]

Agent, CS reps, managers, etc...all have always wanted my password for verification.

[Gold-Pay]

That is true.



That is completely false. The fact that these horrible security procedures are implemented in a number of sportsbooks does not make those procedures any better and these procedure are certainly a reason for very big security concerns. Simply put, if a bettor gives a password to a CS rep that is no better then giving it to a complete stranger.

I personally refuse giving my password to Bookmaker reps. That does not work with 5Dimes, so I do not have much money there.

I am not sure why the various places discussed here have that policy and they could have very good reasons to do so. I am inclined to agree with Data here that there could be better methods.

Just a quick example with Gold-Pay. When you create a Gold-Pay account your password and pin number are immediately encrypted in our database. What this means is nobody on our end knows what your password or your pin is. You can change your password after you have logged in to your account or Gold-Pay can reset your pin and password but we can not tell you what they are. Withdrawals can only be requested from inside your account once you have logged in. To reset your password or pin we require you to answer one of your security questions that you answered when you created your account.

If you get the Gold-Pay CryptoCard you add an even greater layer of token based one-time password security.

Anytime someone else has all the access information to your account you are at some risk of fraud or theft. This is not to say that these places do not have other security features in place or that these places aren't safe.

Finally, security is a journey not a destination so no system is perfect.

[JSnow]

^

JSnow...you scare me. If I was from the Think Tank I may have advised you to stop betting all together.

Not sure if you meant me based of the Martingale style betting or just based off my downdraws? The betting itself came from 2 very reputable handicappers (I know nothing about sports really so I wouldn't bet myself) and now I know why they own a handicapping business.... they don't make very much at all handicapping. Also the risk to reward that comes with sports betting is not in in their favor, it's the opposite... from an investors standpoint of view this makes them failures. Not sure why I really even got into sports betting in the first place because I knew that mathmatics of it were always against me.

As far as Martingale styled betting, it can be used properly and successfully but only in the markets... anyone who would even attempt to do it in sports betting has already been left broke or has gone to the markets if they were smart and had any kind of money to begin with. Martingale should only be applied when you have high probability trades in the market with high reward to risk ratios such as 2:1 or 3:1. Sports betting can't supply high probability along with high risk to reward ratio because you're forced to choose one or another... the team likely to lose for $2.50 gained per $1 bet or the team likely to win for $0.75 gained per $1 bet, so yes Martingale is horrible for sports betting.

A perfect example of how Martingale poses a threat is that you will never find a casino with a game of European roulette that has no minimum bets and unlimited max bets because the casino would go out of business overnight from someone who had huge amounts of capital. There is a 50:50 probability of winning either black or red along with the over 1:100,000 ratio of a roulette wheel hitting one color 35 times in a row, this would make Martingale very successful with lots of money.

Sorry to go off topic somewhat.