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Heritage bitcoin payouts?
My last 3 bitcoin payouts I received less than requested. My last withdraw was for 3K and I got shorted $48. When I look at the time it was sent and when it comes through it should not be short. Do they deliberately just skim a little or is their price compared to my bitcoin price that much off? Feel like it’s useless asking for my $48.
my 3k payouts from both heritage and wagerweb lately have all given me right around 2,975 at time it was sent. I dont like it, but its just a price of doing business with them at this point. Its been so consistent at 2,975, i figure it is on purpose on their end.Originally Posted by RUNandGun
But a disclaimer- i am so far from a bitcoin expert and understanding bitcoin that anything i say may be inaccurate. This is just what i see through my eyes as a bitcoin novice.
The price of bitcoin probably dropped when you received it vs. when they sent it. If you are watching, bitcoin is getting crushed right now.
No I can see the time they sent it. That’s not the case. It’s either A. Deliberate or B. Whatever exchange price they use is that much different
There are some miner's fees also.
They dont give you a great price when you deposit with bitcoin. so there goes theory B
Have miner fees gone up? they always used to be immaterial to me. like under a dollar per transaction (maybe even way under?). serious question, have they changed in recent months to be much higher?
It shouldn't change much from what you order.
The PSP's books use for bitcoin generally charge them something under 1% and it appears most of these take their fee out of the send amount. Which would match up with Bubba's experience of losing the same amount several times.
Right now it's less certain as PSPs need to manage their positions.
@OP, is it the blockchain showing they sent $48 less or is that what your wallet told you it was worth on arrival?
Block chain. When they sent it they sent 2952 and some change. So they deliberately send a lesser amount.
2952.90 I would post a screen shot but can’t figure out how to.
1.6% does seem a higher take out than normal, but it won't be anyone trying to cheat you, just what the PSP is charging to handle the risk of fluctuations themselves right now (its been volatile)
Ok seems like they always skim a little though not just this time. Other books such as DSI I got the full amount maybe even a little extra.
I don't really know why they pass on these fees. But most books seem to. I guess they must add up to such a large amount overall it's too much to absorb so they do user pays.
I would want my customers to see I sent exactly what was ordered too. There must be a good reason they dont all choose that route. Trouble is, most don't even want to talk about who and how it gets processed let alone explain their business reasons for this choice.
Agree but if they don’t tell us how they figure it out they can just chose any amount to deduct. Thy just know if they skim about 1-2% no none will complain
I don't know how much he can explain, but maybe try PMing Heritage Insider here at SBR and ask why you were sent 1.6% less than expected. He's a higher up in there.
As you can see, despite the same question coming up many times, I still don't really know myself.
Thanks just shot him a PM
I too was shorted on 11/26..only 10$ on a 360$ payout and first time ever this happened so I did not say anything...the btc payouts have been faster then ever of late but still hopefully this is isolated occurrences
Heritage Insider assures me that they send the full amount and pass on no fees.
He says if any of you would like your payout reviewed please contact Heritage support directly and they would be happy to look into it.
It's cheating if you are charging a fee and not disclosing that fact. Heritage always screws you a bit in both directions, but I have personally never seen anything approaching 1%.
I have noticed that Blockchain's btc value is often higher than at other exchanges. I'm sure it's just whatever exchange they are using. It would be nice though to know which exchange they use: https://coinmarketcap.com/currencies/bitcoin/#markets
If that were the case, wouldnt we be getting extra on deposits?
Great point. When I deposit $1000 I’m usually short I want to say $10.
There is still a buy/sell spread, so you may not necessarily get more money than you send, but should lose less on the deposit end than the withdraw end. If it's just a reference rate difference.
Did you see above that Hertitage said they definitely send 100% of the amount and pass on no fees?
HI was surprised this came up as he said he hasn't seen a complaint about it before, and he was sure they were sending the full amount.
Yeah I sent him my account # for him to look into it. I assume I will hear in the morning. I think I’m like most and usually don’t say anything when it’s like $20. But it is happening as once I said something others chime in. I’m giving them the benefit of the doubt thinking it’s an exchange thing however other books I use Bubba is right. You will get more money on the deposits and less on the withdrawals or vice versa. Heritage is the only one I get less both ways. Still my favorite book with the less juice and quick payouts but it is annoying not knowing how they are calculating it. Then when I got shorted a little more than usual ~$47 I thought I would ask if this is normal.
my last 15 payouts from a lot of books have always happened to be on the wrong end of bitcoin price fluctuations. And interestingly, when i deposit I seem to also be on the wrong side of it about 20 times in a row.
It is shitty, and they love to handwave it away as "price fluctuation"
It really works like this:
Payout requested... subtract 2% +- 0.5% from value... payout the rest
Deposit received... subtract 1.5% +-0.25% and covert to balance.
Do that for every player and rake it in.
Even big, respected, books are doing this... and it isn't due to BTC price dropping, as sometimes I watch it fluctuate up during the limbo time and I still get jammed.... never seems to work out the other way, where it goes up for me... not being biased here, it is just factual
To see posts about a PO with a poor Bitcoin conversion rate is shameful. I haven't had a PO at Heritage in a long time... seeing these negative comments..... (I just shake my head.)
To be honest... Bitcoin was a "BLESSING" for these books to begin with. It certainly wasn't made for the client.
How hard is it to "PAY ACCORDINGLY?"
If you want to make more PO RULES... in regards to once every 2 weeks.... or every month... FINE. But don't cheat out the client. Sick of seeing these books skimming from the top. Such BS.
Run a damn consistent business.
Can't comment on heritage but I use major exchanges like Coinbase and usually make some money or only lose a small amount when sending to/from sportsbooks.
I use Coinbase. In communicating with Heritage and like everyone says the explanation is as follows. They say it’s either exchange related, but as we pointed out we lose on both deposits and withdrawals or :
When they issue the payout it is for the full amount and they take no fees, however they can’t control the price when they “actually” hit submit. Bingo this is where we get f’d. Of course they are going to wait for a more favorable price until they hit submit and with it being so volatile this is why I got shorted a little extra this time.
That sounds about right, Bitcoin is currently dropping and youre lucky you only lost about 1-2%, instead of the 10% downswings its taking on right now. The longer it takes to confirm, the worst it is. I would prefer Litecoin or Bitcoin Cash that can confirm very fast and allow you to sell it on the market.
I just deposited with Bookmaker, sent $1450 and they credited my account $1475. Wish more books operated like BM...
Did you go straight from Coinbase? Or how did you send? Thanks
You are missing the point. the value at time sent is consistently below the value it should be according to the poster. (almost) everyone is aware that the price in bitcoin fluctuates.
Yeah, sent from Coinbase.
Why are you in this thread posting your paronoid BS again.
You have 5 posts in this thread claiming Heritage short you every time.
You keep it up after Heritage Insider confirms they send the full amount and charge no fees.
And now when asked for the link to the blockchain record so your problem can be checked... you answer, "No, for security reasons. And btw can you tell me how I can tell what the value was at time of send?"
You didn't even care enough to Google how to check, but felt the need to keep saying it five times.
This is the same guy who wouldn't step from his lie that SBR clearly stated another book could steal last week.
Pointing this out so some of you can see what a battle it can be keeping this forum fair and accurate.
Casual liars like Bubba can have a large effect.
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