1. #1
    ezeemunee
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    BetPhoenix 2% Bitcoin Payout Fee

    Edit by SBR: BetPhoenix has advised us that effective immediately they are no longer charging fees for bitcoin withdrawals.

    __


    Are these guys the only ones left that charge 2% fee for Bitcoin payouts? Seems really out-of -line with industry standards. Would expect more out of a B-rated book. Never did understand how they can justify charging a 2% fee when the actual Bitcoin fee is so nominal.
    Last edited by SBR Forum; 01-16-17 at 11:32 AM. Reason: added reply

  2. #2
    Albert Pujols
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    Of course there's no justification for it. It's like a handling fee at ticketmaster, on top of shipping fees. Just complete bullshit.

  3. #3
    ezeemunee
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    I'm ok with fees associated with checks and P2P etc, because there's processors or a third party involved. But c'mon...with Bitcoin, you click a few buttons and the funds are sent. BetPhoenix and their whole family of books needs to get with the program (and the times) and quit trying to rape their players with these ridiculous fees! They will never be A-rated bc they always find ways to screw their players.

  4. #4
    Optional
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    Quote Originally Posted by ezeemunee View Post
    I'm ok with fees associated with checks and P2P etc, because there's processors or a third party involved. But c'mon...with Bitcoin, you click a few buttons and the funds are sent. BetPhoenix and their whole family of books needs to get with the program (and the times) and quit trying to rape their players with these ridiculous fees! They will never be A-rated bc they always find ways to screw their players.
    I'm not saying a withdraw fee is a good idea. I'm very glad that Betonline dropped theirs.

    But these arguments are actually a bit ridiculous, not the fee.

    There is a risk of loss associated with holding bitcoin and exchange premiums if they don't. There is also the same amount of admin time involved.

    There is clearly a cost to books in using bitcoin and as people who use it a lot will know, 1-2% is about the expected loss during transfer doing it any 'easy way'.


    The fee isn't unreasonable or unjustifiable. It's just unpalatable.

    I agree the book should absorb it if they want me to play there. But I have no problem with them choosing to charge a reasonable fee if they want.

    We all have choices to make.

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  5. #5
    ezeemunee
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    Good points Optional. My biggest gripe is that most books that I know don't charge a "fee" for Bitcoin payout....except for BetPhoenix. They should follow the lead of industry leaders like BetOnline and eliminate these fees altogether.

  6. #6
    ezeemunee
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    Another problem I have with BetPhoenix in relation to Bitcoin deposits is that...I always get credited for less than what I actually send. I understand it's based on market fluctuations of Bitcoin value from the time its sent to the time it's processed/credited...but it should go both ways. When bitcoin value plummeted, I lost as much as 10% with my deposits. But never have I been credited with more than the value of what I sent even if Bitcoin value increases during the time it takes for my deposit to process.
    Last edited by ezeemunee; 01-11-17 at 12:05 AM.

  7. #7
    evo34
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    I had no idea BetPhoenix was still around.

  8. #8
    jyney
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    books better get with the times, bitcoin payouts should be 7 days a week and take less than 3 hours

  9. #9
    Hopefully
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    Quote Originally Posted by jyney View Post
    books better get with the times, bitcoin payouts should be 7 days a week and take less than 3 hours

  10. #10
    Bill Dozer
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    It kind of shows you who has a lot of bitcoin volume, who wants bitcoin biz, and who feels like they have to offer not to be excluded in the conversation. I think BOL had successful processing if not some of the best and probably didnt feel the need to promote a method other books really needed. Now they are seeing the future in it. Phoenix will have no choice to come around because its such a bad-taste fee.

    Its like getting a great price on ebay but paying 3x the shipping rate. Its still the best deal overall but you leave saying fack this guy. It takes the merchant time to realize what the spirit of bitcoin is... free and instant. They dont always jump in with both feet to start.

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  11. #11
    jjgold
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    play at betonline

    free

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  12. #12
    puckk
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    Quote Originally Posted by ezeemunee View Post
    Are these guys the only ones left that charge 2% fee for Bitcoin payouts? Seems really out-of -line with industry standards. Would expect more out of a B-rated book. Never did understand how they can justify charging a 2% fee when the actual Bitcoin fee is so nominal.

    betusa charges 5%

  13. #13
    Sam Odom
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    Quote Originally Posted by jjgold View Post

    play at betonline

    free

    JJ

    what is the TOTAL amount you have offshore with SBR Sponsors ?

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  14. #14
    CWD
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    Quote Originally Posted by Hopefully View Post


    last check itops was 2 days to process and 2 more days to complete and you get what it is on day 4. i read here 2 days for another major book people use ere

    who in their right mind gambles like that ?

  15. #15
    CWD
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    Quote Originally Posted by Albert Pujols View Post
    Of course there's no justification for it. It's like a handling fee at ticketmaster, on top of shipping fees. Just complete bullshit.
    $40 to park at a basketball game

    give them the cash and they hand you a ticket to put on your dash that says "if your car broken into it is not our fault"

  16. #16
    Sam Odom
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    Quote Originally Posted by Sam Odom View Post

    JJ

    what is the TOTAL amount you have offshore with SBR Sponsors ?

    guessing

    >200.00

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  17. #17
    TheMetsSuck
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    who in there right mind would deposit their money on a site like betphoenix over reputable ones guaranteed to give you hassle free payouts like 5dimes and heritage is beyond me

  18. #18
    temple2010
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    Quote Originally Posted by TheMetsSuck View Post
    who in there right mind would deposit their money on a site like betphoenix over reputable ones guaranteed to give you hassle free payouts like 5dimes and heritage is beyond me
    For their large bonuses they generally offer

  19. #19
    Albert Pujols
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    Quote Originally Posted by TheMetsSuck View Post
    who in there right mind would deposit their money on a site like betphoenix over reputable ones guaranteed to give you hassle free payouts like 5dimes and heritage is beyond me
    5 Dimes? LMAO you must not take payouts, bro.

  20. #20
    SBR Forum
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    BetPhoenix has advised us that effective immediately they are no longer charging fees for bitcoin withdrawals.
    Nomination(s):
    This post was nominated 1 time . To view the nominated thread please click here. People who nominated: Optional

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  21. #21
    Sam Odom
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    Quote Originally Posted by SBR Forum View Post

    BetPhoenix has advised us that effective immediately they are no longer charging fees for bitcoin withdrawals.


    The POWER of SBR

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  22. #22
    jjgold
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  23. #23
    temple2010
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    does this go for Skybook also? and any chance of them refunding bitcoin withdraw costs if you took a payout in the last 30 days or so?? work your magic SBR!

  24. #24
    Bill Dozer
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    Great to see Phoenix is listening to the player's voice and in time for potential super bowl signups.

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  25. #25
    ezeemunee
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    great to see BetPhoenix adopt this no-fee Bitcoin payout policy. They've always had great promotions and bonuses. Now they have a great payout system to match!

  26. #26
    DroopyDog
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    Yeah they charged me 2% and took 3 days... not acceptable. bitcoin payouts should be same day, period.
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  27. #27
    hello1234567
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    Are the bitcoin payouts still taking more than 1 day?

  28. #28
    TheMetsSuck
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    Quote Originally Posted by Albert Pujols View Post
    5 Dimes? LMAO you must not take payouts, bro.

    whatever you say. 5dimes and heritage are the two best books hands down. betphoenix is laughable. enjoy the deposit bonuses and 40x rollovers. betphoenix used to be the biggest joke around. Giving everyone free 50$ bets and nightmare cashouts. good luck

  29. #29
    msutter
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    Quote Originally Posted by ezeemunee View Post
    Edit by SBR: BetPhoenix has advised us that effective immediately they are no longer charging fees for bitcoin withdrawals.

    __


    Are these guys the only ones left that charge 2% fee for Bitcoin payouts? Seems really out-of -line with industry standards. Would expect more out of a B-rated book. Never did understand how they can justify charging a 2% fee when the actual Bitcoin fee is so nominal.
    Carbonsports charges 5% for bitcoin withdrawals lol.

  30. #30
    Bill Dozer
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    The books are reading this forum so keep speaking your mind. Sometimes it takes mgt to see the feedback to realize that one of their departments are doing something that's... off.

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