1. #1
    RonPaul2008
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    Bookmaker Bitcoin Payout Policy

    I was told by their staff that they pay you in the value of bitcoin at the time you requested it.
    Yestereday when I requested the payout around noon, the value of btc was right around $228.
    They waited a full 24 hours to send the payment and sent in the value of over 234 (it's under 233 now).
    If they are going to send it at the value of whenever they choose to send it, they should make that clear and it's extremely
    frustrating to be told the opposite and lose a significant amount because of it. I bought it yesterday specifically because it was down at a price I wanted.
    Last edited by RonPaul2008; 09-17-15 at 02:38 PM.

  2. #2
    Optional
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    I get the drift but are you actually talking about a deposit instead of a payout? Having trouble making sense of it all.

  3. #3
    Buffalo Nickle
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    Rule #1. Always check at least twice on policies because the reps just make stuff up or are given wrong information. Whatever you are told, it will not matter if it is wrong when you actually do what you ask about.

    Expect non-bitcoin books to pass losses to you.

    If you withdraw from a nonBitCoin book just hope for the best.

  4. #4
    ANGRYBLACK
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    It doesn't matter what a rep says. They all go by their official rules. I've withdrawn BTC from BM several times. I've made money every time except once, which was a loss of a couple dollars. It's the luck of the draw. Next time you might end up with more $$$. IJS...

  5. #5
    Buffalo Nickle
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    Paper check is still the way to go for large withdrawals. Use bitcoin for the small that will incur a large fee.

    When you withdraw using bitcoin, you are exposing yourself to market risk as well as the potential to get ripped off on the conversion. That can kill you on a large withdrawal. It is not worth the risk unless you are willing to eat it for convenience sake.

    There is no point in complaining about losing money on bitcoin withdrawals. You know what you are getting yourself into.

  6. #6
    A4K
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    Just did my first BitCoin withdraw. I actually made a few bucks on the transaction.

  7. #7
    HappyHounds
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    Did you actually check the blockchain transaction and look at the value of the transaction when they sent it? It will tell you exactly what they sent. You can't plan for BitCoin volatility, but any kind of delay this week, for example, would have resulted in massive gains. So, it evens it out and it depends on how well of a grasp you have of Bitcoin and converting to a fiat currency.

    I've had close to 10 max payouts with Heritage and they send what you cashout at the time they send it. So yeah if you request at 9am, they call you at noon, and then they almost always send BTC payment within an hour window in the afternoon. But, the value they send is whatever BTC is worth at the time they send it. Request $3000 at whatever time, it should not matter. The only time that should matter is the hour that could potentially take your wallet to confirm the transaction. Some only require one confirmation, others can require three. It also depends on the wallet your book uses and the fee structure they use. If they are cheap as hell and don't pay a 0.001 fee it could take up to an hour and you'll see some volatility.

    If you're saying that Bookmaker processes the payouts at one price and then doesn't immediately send, then that's free-rolling. If you were just unlucky to have a $10 drop in price in an hour or two before you can sell off, just stick with it. (not uncommon--- it's gone up $100 in a month [lucky me])

    I've never used Bookmaker, but I would look at another book if they are processing BitCoin payouts on a delay. I'd love to see the Blockchain transaction so we could see the value of the transaction at the time (Although it's always heartbreaking seeing what it's worth now, since BTC is at $330).

    The most I've lost in a $3000 cashout is around $30 and that includes fees that it took to sell off to USD. With bitcoin on the rise, I've averaged $50-150 profit on every $3000 cashout and I've only held for maximum of 36hours.

    If you get on a real exchange (BitStamp for example), you can actually make another $50 usually for each $3000 by transferring your BTC from your exchange to a certain wallet/"exchange" service that will allow you to buy/sell/cashout bitcoins using clearing house/debit card. And it's fast.
    Last edited by HappyHounds; 10-31-15 at 12:18 AM.

  8. #8
    A4K
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    Quote Originally Posted by HappyHounds View Post
    Did you actually check the blockchain transaction and look at the value of the transaction when they sent it? It will tell you exactly what they sent. You can't plan for BitCoin volatility, but any kind of delay this week, for example, would have resulted in massive gains. So, it evens it out and it depends on how well of a grasp you have of Bitcoin and converting to a fiat currency.

    I've had close to 10 max payouts with Heritage and they send what you cashout at the time they send it. So yeah if you request at 9am, they call you at noon, and then they almost always send BTC payment within an hour window in the afternoon. But, the value they send is whatever BTC is worth at the time they send it. Request $3000 at whatever time, it should not matter. The only time that should matter is the hour that could potentially take your wallet to confirm the transaction. Some only require one confirmation, others can require three. It also depends on the wallet your book uses and the fee structure they use. If they are cheap as hell and don't pay a 0.001 fee it could take up to an hour and you'll see some volatility.

    If you're saying that Bookmaker processes the payouts at one price and then doesn't immediately send, then that's free-rolling. If you were just unlucky to have a $10 drop in price in an hour or two before you can sell off, just stick with it. (not uncommon--- it's gone up $100 in a month [lucky me])

    I've never used Bookmaker, but I would look at another book if they are processing BitCoin payouts on a delay. I'd love to see the Blockchain transaction so we could see the value of the transaction at the time (Although it's always heartbreaking seeing what it's worth now, since BTC is at $330).

    The most I've lost in a $3000 cashout is around $30 and that includes fees that it took to sell off to USD. With bitcoin on the rise, I've averaged $50-150 profit on every $3000 cashout and I've only held for maximum of 36hours.

    If you get on a real exchange (BitStamp for example), you can actually make another $50 usually for each $3000 by transferring from your exchange to a certain service that will allow you to buy/sell/cashout bitcoins using ***************/debit card. And it's fast.
    In my opinion, Bookmaker is not free rolling anyone. I put in my request, got my BitCoin transfer in a timely manner and made a few bucks. It's impossible for Bookmaker to know which way the market is going to swing. Relative to other withdraw methods that come with insande lag time and fees, BitCoin is a dream. I'm used to paying check fees, wire fees, etc and still have to wait a few days or weeks to get my money. I'm perfectly fine with eating a dollar or two to get a few grand out through BitCoin on the same day as the request.

  9. #9
    HappyHounds
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    Quote Originally Posted by Buffalo Nickle View Post
    Paper check is still the way to go for large withdrawals. Use bitcoin for the small that will incur a large fee.

    When you withdraw using bitcoin, you are exposing yourself to market risk as well as the potential to get ripped off on the conversion. That can kill you on a large withdrawal. It is not worth the risk unless you are willing to eat it for convenience sake.

    There is no point in complaining about losing money on bitcoin withdrawals. You know what you are getting yourself into.
    I guess that's a matter of opinion, but BitCoin is a million times easier and cheaper than paper. Dealing with checks, dealing with banks. Try getting three, $3000 paper checks from a book in a week, or $10K. Goodluck and what's that going to cost in fees?

    I can show you my cashout logs from Heritage if you doubt the ease of it and how quick it is compared to waiting for a paper check and then dealing with a bank.

    If you need some help getting the right exchange and banking setup, let me know. I requested a cashout on Wednesday of BTC (max from Hertiage), it hits my wallet in my BitStamp Exchange later that afternoon. BitCoin is on the rise so I decide to hold it a day this time, making a $100. I sent it to a certain service that you can link your debit/*************** (I made another $50 in this conversion) and cashed out on Thursday afternoon and this morning (Friday) I went to the bank this morning and pulled out $3000 in 100 bills. A paper check is never going to be faster once you get the hang of BitCoin.

    Don't let the volatility scare you. Judging from your last statement, I think you need to learn a few more of the tricks of BitCoin if you think it's a losing proposition and you "shouldn't be complaining about losing money". Learn the ropes and you aren't getting caught in any volaitlity. There are services that allow you to cashout to them and convert right to USD
    Last edited by HappyHounds; 10-31-15 at 12:36 AM.

  10. #10
    HappyHounds
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    Responding to A4K
    Well without the blockchain transaction, we don't know the value they sent at the time of the transaction.

    I wasn't saying they were free rolling, but what he describes, they are.

    They have BTC laying around, so they can potentially mess with the price if they aren't sending payment promptly.

    I was maybe unclear. BTC price shouldn't matter when you request payout. So you request $100, BTC is 100. When they process it, couple hours or next day, it doesn't matter what the price of BTC is. If BTC is $400 or $40, it doesn't matter. They are suppose to send you $100 worth of BTC. So if they send at 4PM, you should have that money by 5PM, and the value that they send should be $100 = WHATEVEVER Bitcoins.

    So you need to check the blockchain transaction to see what amount in USD they actually sent you.

    I understand the couple dollars volatility when you are waiting for confirmations or converting to FiAT.

  11. #11
    A4K
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    Quote Originally Posted by HappyHounds View Post
    Responding to A4K
    Well without the blockchain transaction, we don't know the value they sent at the time of the transaction.

    I wasn't saying they were free rolling, but what he describes, they are.

    They have BTC laying around, so they can potentially mess with the price if they aren't sending payment promptly.

    I was maybe unclear. BTC price shouldn't matter when you request payout. So you request $100, BTC is 100. When they process it, couple hours or next day, it doesn't matter what the price of BTC is. If BTC is $400 or $40, it doesn't matter. They are suppose to send you $100 worth of BTC. So if they send at 4PM, you should have that money by 5PM, and the value that they send should be $100 = WHATEVEVER Bitcoins.

    So you need to check the blockchain transaction to see what amount in USD they actually sent you.

    I understand the couple dollars volatility when you are waiting for confirmations or converting to FiAT.
    Got ya, and that was my point....as long as they send you the proper dollar amount worth of BitCoins you should be fine. I love BitCoin, so far and wish I would have found it earlier. I stopped using 5Dimes because it became to hard to get money to them. I'm banned on W U and M G

  12. #12
    Ted Sheckler
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    bitcoin is back up.
    Last edited by Ted Sheckler; 11-02-15 at 09:35 AM.

  13. #13
    HappyHounds
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    cashout.PNG

    Today.Requested $3000 . Received what was in the image.
    Since then, it's gone up, but you can convert to USD or sell as you like.
    Last edited by HappyHounds; 11-02-15 at 05:09 PM.

  14. #14
    HappyHounds
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    Recent BTC surge:
    old.jpg

    $3000 at the time of the transaction.

  15. #15
    Kindred
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    Quote Originally Posted by HappyHounds View Post
    Responding to A4K
    Well without the blockchain transaction, we don't know the value they sent at the time of the transaction.

    I wasn't saying they were free rolling, but what he describes, they are.

    They have BTC laying around, so they can potentially mess with the price if they aren't sending payment promptly.

    I was maybe unclear. BTC price shouldn't matter when you request payout. So you request $100, BTC is 100. When they process it, couple hours or next day, it doesn't matter what the price of BTC is. If BTC is $400 or $40, it doesn't matter. They are suppose to send you $100 worth of BTC. So if they send at 4PM, you should have that money by 5PM, and the value that they send should be $100 = WHATEVEVER Bitcoins.

    So you need to check the blockchain transaction to see what amount in USD they actually sent you.

    I understand the couple dollars volatility when you are waiting for confirmations or converting to FiAT.
    I get your point but that's not how it works with currency conversions in fiat. A bank would send you the equivalent at the time the transaction takes place not when you requested it or cashed a check for example.

    Also if Bitcoin went down over the 24 hours it took them to process the transaction many would be upset with getting less $ value of BTC sent to their wallet. So I can understand them sending the $ value at the time they actually send the transaction vs. the value when requested.

    That being said bookmaker should be more transparent on this no matter what policy they choose.

  16. #16
    HappyHounds
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    Quote Originally Posted by Kindred View Post
    I get your point but that's not how it works with currency conversions in fiat. A bank would send you the equivalent at the time the transaction takes place not when you requested it or cashed a check for example.

    Also if Bitcoin went down over the 24 hours it took them to process the transaction many would be upset with getting less $ value of BTC sent to their wallet. So I can understand them sending the $ value at the time they actually send the transaction vs. the value when requested.

    That being said bookmaker should be more transparent on this no matter what policy they choose.

    You just said exactly what I said, probably clearer. We are in agreement. As I said, it doesn't matter what the price of Bitcoin is when you request the transaction. You request $100 USD, whenever they choose to send the transaction--you check BlockChain and make sure at the time of transaction it = $100

    I posted screenshots above of the blockchain transaction. BitCoin transactions are almost instant. I always check the BlockChain record to make sure that at the time of transaction the value was what I requested (see the second shot where it says I got the $3000 I requested)
    Last edited by HappyHounds; 11-02-15 at 08:20 PM.

  17. #17
    WoolyBully
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    Bookmaker states on this webpage (http://www.bookmaker.eu/bitcoin-sportsbook) that they will payout instantly. It's been over 15 hours since a mid 4 figure BitCoin payout request and nothing. Contacted customer service and they say up to 72 hours to investigate. A little shady to me.

  18. #18
    Ted Sheckler
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    Quote Originally Posted by WoolyBully View Post
    Bookmaker states on this webpage (http://www.bookmaker.eu/bitcoin-sportsbook) that they will payout instantly. It's been over 15 hours since a mid 4 figure BitCoin payout request and nothing. Contacted customer service and they say up to 72 hours to investigate. A little shady to me.


    Well you should be excited, because if you requested 5K from bookmaker, when the BTC hits your account you'll see a nice little bonus of around 1k.

  19. #19
    Optional
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    Quote Originally Posted by WoolyBully View Post
    Bookmaker states on this webpage (http://www.bookmaker.eu/bitcoin-sportsbook) that they will payout instantly. It's been over 15 hours since a mid 4 figure BitCoin payout request and nothing. Contacted customer service and they say up to 72 hours to investigate. A little shady to me.
    If it's your first BTC withdraw they probably just want to manually check the account. After that it will probably be quicker.

  20. #20
    WoolyBully
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    Quote Originally Posted by Optional View Post
    If it's your first BTC withdraw they probably just want to manually check the account. After that it will probably be quicker.
    No, my fifth, this one is just for more than a couple of hundred.

  21. #21
    Ted Sheckler
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    Quote Originally Posted by Optional View Post
    If it's your first BTC withdraw they probably just want to manually check the account. After that it will probably be quicker.


    I believe my first one took 8-10 hours. I've always requested between 8-10AM and seems like it hits my account between 3-5. This guy requested at 5-6PM ish, so maybe they don't get to it til this morning and it won't be there til 3ish today.


    It's probably the time that you requested. I'd guess you're gonna receive it this afternoon. hopefully with a nice bonus from the rising price BTC.

  22. #22
    blackHIPPY
    THESE NIGGAS PLANKTON
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    withdrew yesterday was told today it can take 3-5 business days

  23. #23
    libra2jay
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    Quote Originally Posted by blackHIPPY View Post
    withdrew yesterday was told today it can take 3-5 business days
    Supposed to be "FREE - SAME DAY PAYOUTS WITH BITCOIN"


  24. #24
    A4K
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    Quote Originally Posted by blackHIPPY View Post
    withdrew yesterday was told today it can take 3-5 business days
    Unacceptable. I hope you hopped on LiveChat to complain.

  25. #25
    blackHIPPY
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    I did, got my money yesterday evening so it was a little over 24 hrs. Could be worse. No fees, and got all my money so tough to gripe too much

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