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Betcoin have now paid the OP
Betcoin Statement:
We thank you for your excellent feedback. We would like to share some additional information with you that might fill in the gaps as far as why these rules are in place.
Our major concern is not a smart guy with a calculator in his hand who browses through sites for arbitrage opportunities. Obviously, in these cases, it would be easy enough to limit him, just as any sportsbook could with any sharp bettor. The sites you named provide an exceptional product and a difference between them and us is that Betcoin is primarily an anonymous site. Therefore, limiting an account or paying out the winnings and closing the account are less effective, since players can open additional accounts.
Through our investigations into these matters, we have been able to pay several informants for information on the syndicates who are creating these accounts, often hundreds at a time, and using these forking
(surebet) scanners to rake in profits all day, every day. These informants have given us much information into these syndicates, including which VPNs they are using, which scanners they are using and how KYC is faked. They have provided us access to Telegram and Discord groups where this is discussed. As most of these scanners are based in Russia, this issue got to be so prevalent that we had to restrict the entire nation, which is one of the largest betting nations on the planet. These are multi-million dollar organizations and through these groups, we have learned that they started flying people to different countries so they could pass KYC. This led to us also restricting Belarus, Kazakhstan and Ukraine, but they have an endless bankroll and the money they spend circumventing KYC is negligible to the profits earned.
As mentioned, we keep improving our technology, but they keep finding new ways to beat it, so this is an ongoing battle and we take it extremely seriously. Without getting into too much proprietary security info, there are multiple ways we can determine that these services are being used. One is that some of them actually find and place the bets for you. If more bets are placed in a certain time period than would be humanly possible, it will raise suspicion. If a number of accounts are placing the exact same bets at the exact same time on low tiered markets, it will raise suspicion. If a number of accounts are created in the same time period and all using a VPN service known to be used by fraudulent players, it will raise suspicion. Once this suspicion is created, an investigation will begin. We may start by asking them for their honesty or matching crypto transactions.
If it comes down to it, the final step in the process is that we use our paid memberships to each of these scanners and will go back through the history of the bets displayed. We determine whether the matches and markets bet on were used on these sites at the times the bets were placed. As you can imagine, to go through all this data on multiple sites takes considerable time and money, so this is done in the extreme cases, but it is a necessity. If nothing is found, the funds are released. 95% of the time, if we get that far something is found.
So you say that the winnings should be released and the account should be limited or closed, but we hope this helps explain why in some cases, that is not going to happen. You have to also keep in mind that much of this play goes under the radar and they successfully withdraw, dump the account and start a new one. So while you think we are freerolling them by being able to seize their winnings, they are actually freerolling us, because they will either get the winnings or get their deposit back and move onto a new account.
Once again, we would like to stress that unless the abuse is proven beyond a doubt, the player will be paid. Fortunately, we have beefed up our security team and technology and have gotten extremely good at proving this, when it occurs. The rule you have stated saying that this can be done at our discretion is for the most extreme circumstances and is used on people who are proven to be maliciously violating our rules.
We will continue to review these suspicious accounts with heavy scrutiny and take the appropriate action, based on the level of offense. As always, if a player disagrees with our resolution, we are open to 3rd party mediation or they can contact our licensing body.
A good sportsbook will use discretion to make fair decisions, which are not cut and dry based on what is listed in the TOS. In the case of the OP, the account was not closed for arbing, but for multi-accounting due to the funds being sent from the same Bitcoin wallet. As he has now provided adequate proof that he is a separate entity from the other player, we have sent his winnings to a Bitcoin address provided.
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Originally Posted by SportsBettor74
raiders72001 gave Optional 2 Betpoint(s) for this post.
