1. 04-20-14 10:15 PM #1
    inter1097
    inter1097's Avatar Become A Pro!
    Join Date: 10-04-09
    Posts: 459
    Betpoints: 5861

    Bettor gets stiffed out of over $350,000 on Coinbet (Bitcoin book)

    surprised this hasn't been posted here by now


    The short of it:
    http://www.cryptocoinsnews.com/news/...-cc/2014/04/20


    The Long of it:

    https://bitcointalk.org/index.php?topic=576109.0
    Reply With Quote Reply With Quote
  2. 04-21-14 06:11 AM #2
    jjgold
    jjgold's Avatar Become A Pro!
    Join Date: 07-20-05
    Posts: 388,190
    Betpoints: 10

    anyone playing at bitcoin books has brain damge
    Reply With Quote Reply With Quote
  3. 04-21-14 06:25 AM #3
    spider
    spider's Avatar Become A Pro!
    Join Date: 05-21-11
    Posts: 11,378
    Betpoints: 46953

    Quote Originally Posted by jjgold View Post
    anyone playing at bitcoin books has brain damge
    not true. anyone leaving a balance of more than $50 at bitcoin books has brain damage.
    Reply With Quote Reply With Quote
  4. 04-21-14 07:19 AM #4
    horja1
    Grrrrrr
    horja1's Avatar Become A Pro!
    Join Date: 01-13-11
    Posts: 5,646
    Betpoints: 12

    no chance he gets anything back .... coinbet is gone
    Reply With Quote Reply With Quote
  5. 04-21-14 10:40 AM #5
    lecubs28
    Keepin em Honest
    lecubs28's Avatar Become A Pro!
    Join Date: 10-17-11
    Posts: 638
    Betpoints: 5422

    Quote Originally Posted by jjgold View Post
    anyone playing at bitcoin books has brain damge
    listen to jj this man knows what he's talking about.

    only play at safe books like betcascade, betislands, betrevolution, and alliant sportsbook.
    Reply With Quote Reply With Quote
  6. 04-21-14 11:04 AM #6
    Burkina2008
    Burkina2008's Avatar Become A Pro!
    Join Date: 04-11-11
    Posts: 362
    Betpoints: 108

    Bitcoin is the biggest scam of the decade...
    Reply With Quote Reply With Quote
  7. 04-21-14 12:20 PM #7
    relaaxx
    relaaxx's Avatar SBR PRO
    Join Date: 06-15-06
    Posts: 3,271
    Betpoints: 13978

    bitcoin i think is a good investment for the future. but not for gambling. seems like it's worth a shot to invest a small amount in buying bitcoins and holding on to them for a while. a lot like a risky stock you think has a good risk/reward value. but to trust a sportsbook using bitcoins is crazy. can't trust great old time sportsbooks 100% with cash never mind a new type of currency in a fairly new sportsbook..
    Reply With Quote Reply With Quote
  8. 04-21-14 03:49 PM #8
    OTL
    OTL's Avatar Become A Pro!
    Join Date: 03-08-10
    Posts: 2,433
    Betpoints: 5277

    Quote Originally Posted by Burkina2008 View Post
    Bitcoin is the biggest scam of the decade...
    Spot on. Leave Bitcoin to the domain of the criminals and hackers.
    Reply With Quote Reply With Quote
  9. 04-21-14 05:21 PM #9
    Legions36
    Legions36's Avatar Become A Pro!
    Join Date: 12-17-10
    Posts: 3,032
    Betpoints: 7744

    Anyone here care to tell me if u would at a place that has only been open for 2 months pretty much max deposit and max bet as much as he could then built his balance upto 340k? The guy has to be the biggest fool i have ever come across. He even posted pics of his 10k-20k bets at this place. I know they are a scam but how can u add to the fire like that.
    Can anyone admit that they would even consider something like this, how dumb could he be? I have seen some idiots here and there but to this magnitude? Of course the new place would turn into a scam after this. Yes 2 months old this guy is betting that kind of money.
    Reply With Quote Reply With Quote
  10. 04-21-14 07:03 PM #10
    bettingstation
    bettingstation's Avatar Become A Pro!
    Join Date: 03-25-13
    Posts: 1,084
    Betpoints: 1201

    Now... who believes me that bitcoin is a scam? its like a pyramiding...
    Reply With Quote Reply With Quote
  11. 04-22-14 05:51 AM #11
    jjgold
    jjgold's Avatar Become A Pro!
    Join Date: 07-20-05
    Posts: 388,190
    Betpoints: 10

    I will keep saying it stay away from bitcoin books
    Reply With Quote Reply With Quote
  12. 04-22-14 06:48 AM #12
    dirtdog52658
    dirtdog52658's Avatar Become A Pro!
    Join Date: 05-19-11
    Posts: 450
    Betpoints: 2235

    Quote Originally Posted by jjgold View Post
    I will keep saying it stay away from bitcoin books
    Agree 100% just an accident waiting to happen.
    Reply With Quote Reply With Quote
  13. 04-22-14 08:54 AM #13
    HeeeHAWWWW
    HeeeHAWWWW's Avatar Become A Pro!
    Join Date: 06-13-08
    Posts: 5,487
    Betpoints: 578

    Not sure this is really anything to do with bitcoin, it's just another scam book that closes doors rather than paying big winners. Could happen regardless of the deposit method.
    Reply With Quote Reply With Quote
  14. 04-22-14 02:45 PM #14
    inter1097
    inter1097's Avatar Become A Pro!
    Join Date: 10-04-09
    Posts: 459
    Betpoints: 5861

    What's insane is this book had a policy where if you criticized the book in any way on forums/blogs or whatever.. they could ban your account, So it wasn't until he figured he had zero chance of getting his money that he came forward. Meanwhile while they had the muzzle on this guy, other people were depositing not knowing better. So that makes this situation 100 times worse than your ordinary stiff job.
    Reply With Quote Reply With Quote
  15. 04-22-14 02:56 PM #15
    bookie
    bookie's Avatar Become A Pro!
    Join Date: 08-10-05
    Posts: 2,083
    Betpoints: 1030

    Quote Originally Posted by HeeeHAWWWW View Post
    Not sure this is really anything to do with bitcoin, it's just another scam book that closes doors rather than paying big winners. Could happen regardless of the deposit method.
    +1

    Bitcoin is here to stay. There will still both scammers and well-intentioned business fails that use Bitcoin, but the thing itself is past a tipping point and won't go anywhere.

    For bettors its value is that for a tiny transaction fee you can withdraw your money after every bet. So the worst case scenario is losing a day's plays, not your whole bankroll.
    Reply With Quote Reply With Quote
  16. 04-22-14 03:20 PM #16
    Burkina2008
    Burkina2008's Avatar Become A Pro!
    Join Date: 04-11-11
    Posts: 362
    Betpoints: 108

    Quote Originally Posted by bookie View Post
    +1

    Bitcoin is here to stay. There will still both scammers and well-intentioned business fails that use Bitcoin, but the thing itself is past a tipping point and won't go anywhere.

    For bettors its value is that for a tiny transaction fee you can withdraw your money after every bet. So the worst case scenario is losing a day's plays, not your whole bankroll.
    Just like tamagoshi is still here...
    Reply With Quote Reply With Quote
  17. 04-22-14 04:54 PM #17
    Hareeba!
    Hareeba!'s Avatar Become A Pro!
    Join Date: 07-01-06
    Posts: 33,242
    Betpoints: 20489

    Quote Originally Posted by bookie View Post
    For bettors its value is that for a tiny transaction fee you can withdraw your money after every bet. So the worst case scenario is losing a day's plays, not your whole bankroll.
    I can do that with real money at all my books (bar Pinnacle) for no transaction fee.
    Reply With Quote Reply With Quote
  18. 04-22-14 05:14 PM #18
    Hareeba!
    Hareeba!'s Avatar Become A Pro!
    Join Date: 07-01-06
    Posts: 33,242
    Betpoints: 20489

    Quote Originally Posted by bettingstation View Post
    Now... who believes me that bitcoin is a scam? its like a pyramiding...
    That's like saying Euros, GBP, USD, AUD etc are scams because those are the currencies Canbet stole from it's customers?
    Reply With Quote Reply With Quote
  19. 04-22-14 06:30 PM #19
    Scorpion
    Update your status
    Scorpion's Avatar Become A Pro!
    Join Date: 09-04-05
    Posts: 7,797
    Betpoints: 15377

    http://coinbet.cc/ was in biz for only the first 3 months of 2014, correct?
    Reply With Quote Reply With Quote
  20. 04-22-14 09:04 PM #20
    Legions36
    Legions36's Avatar Become A Pro!
    Join Date: 12-17-10
    Posts: 3,032
    Betpoints: 7744

    Quote Originally Posted by Scorpion View Post
    http://coinbet.cc/ was in biz for only the first 3 months of 2014, correct?
    Literally in business 2months and dude was max depositing and max betting ever bet, I saw bets from 10-25k. Some really dumb people in the forums but he ranks highest by far. This place turned out to be a scam but seriously who does that?
    Reply With Quote Reply With Quote
  21. 04-22-14 10:03 PM #21
    dirtdog52658
    dirtdog52658's Avatar Become A Pro!
    Join Date: 05-19-11
    Posts: 450
    Betpoints: 2235

    http://calvinayre.com/2014/04/23/bus...katz-out-340k/
    Reply With Quote Reply With Quote
  22. 04-22-14 10:13 PM #22
    Scorpion
    Update your status
    Scorpion's Avatar Become A Pro!
    Join Date: 09-04-05
    Posts: 7,797
    Betpoints: 15377

    Quote Originally Posted by Legions36 View Post
    Literally in business 2months and dude was max depositing and max betting ever bet, I saw bets from 10-25k. Some really dumb people in the forums but he ranks highest by far. This place turned out to be a scam but seriously who does that?
    Yes sir, 2 months in business offering 200% bonus
    Reply With Quote Reply With Quote
  23. 04-23-14 04:30 AM #23
    AleksX29
    AleksX29's Avatar Become A Pro!
    Join Date: 04-23-14
    Posts: 4
    Betpoints: 36

    Coinbet was a terrible book since the very beginning. They had a casino that was scamming players and they stiffed some other players before that, so this guy was incredibly dumb to trust them. Good bitcoin books are Anonibet, Ball2Win, BetcoinSports etc.
    Reply With Quote Reply With Quote
  24. 04-23-14 05:51 AM #24
    jjgold
    jjgold's Avatar Become A Pro!
    Join Date: 07-20-05
    Posts: 388,190
    Betpoints: 10

    There is zero regulation with bitcoin and that must factor into your equation whether you use this type of book
    Reply With Quote Reply With Quote
Top
« Previous Thread | Sportsbooks & The Industry | Next Thread »