[cyclingbettor]

I was looking to make a bitcoin deposit at Bookmaker. So, I went through the cashier process, and got a bitcoin amount and address. When I calculate how much it will cost to buy that amount of bitcoin, however, at the current prices on Bitstamp, I will pay anywhere from $25-$30 more than my deposit amount. Plus the Bitstamp fees. (I was looking to deposit $1000). Is that how much you folks normally get dinged on a bitcoin deposit?

[Alfa1234]

Yep, same with withdrawals...it's the same everywhere. All bookies, in my experience, call bitcoin deposits "free", but their processor uses a lower rate than the actual value at the time so the actual cost to the client is about 2-3% every time.

[seaborneq]

I'm totally convinced sportsbooks should NOT be promoting or using BitCoin as a method of withdrawal or deposit. BitCoin should be treated like a stock. I bought Bitcoin a few months ago, saw a huge jump and spike in price moved it to Kraken to put in books for the upcoming football season, saw that I lost 15-20% on that transaction and decided I am going to treat it as a stock and deposit the way I've been depositing before I knew anything about BTC, It's a rip off to me to use. A huge racket for "free" anything but hold on to it.

[bonz]

I agree, while bitcoin has been great performance wise it's still like holding your money in a big slot machine on withdraws and payouts.

[juvunits]

So when you deposit money using bitcoin, the books charge you a fee?

[evo34]

Yep, same with withdrawals...it's the same everywhere. All bookies, in my experience, call bitcoin deposits "free", but their processor uses a lower rate than the actual value at the time so the actual cost to the client is about 2-3% every time.

On the withdrawal side, I've never seen anything approaching 2-3% at BM, Heritage or 5D. 0.5% is the most I have seen -- more often it's closer to 0.1% or 0.2%, occasionally even in the player's favor.

[cyclingbettor]

FWIW, I gave up on that transaction and tried again, and got a number that was more to my liking - only payed a few extra dollars compared to my deposit amount this time. But yes, making bitcoin transactions can be a gamble unto itself. Adds a bit of extra sweat on top of your actual wagers...

[cyclingbettor]

And yes, the numbers have worked out in my favour in the past as well at other books.

[bonz]

Pretty sure BO does it where you agree to a price and have 15 minutes to deposit. Worked for me that way

[TheMoneyShot]

I was looking to make a bitcoin deposit at Bookmaker. So, I went through the cashier process, and got a bitcoin amount and address. When I calculate how much it will cost to buy that amount of bitcoin, however, at the current prices on Bitstamp, I will pay anywhere from $25-$30 more than my deposit amount. Plus the Bitstamp fees. (I was looking to deposit $1000). Is that how much you folks normally get dinged on a bitcoin deposit?

There's a lot of variables to your statement.

1. When you sent the bitcoin to Bookmaker... when was the 1st confirmation noted? How long did it take?

2. I've noticed that most books are very close in pricing to the Blockchain Ticker. Take note of that.

3. I just sent Bookmaker 1,005 about 2.5 weeks ago. I purchased coins through Gemini..... Gemini to Blockchain..... Blockchain to Bookmaker. All completed under 10 minutes. I actually gained $5.00 on the deal.

Now, Bookmaker hasn't been tested in awhile during PO's. Last time I lost a lot on the deal. But, that was 6 months ago. Hopefully they don't gouge you during a PO request anymore?