[SportsBettor74]

I have not posted here in maybe 2 years.

Today I post about the experience of my colleague with Nitrobetting.

You might describe my colleague as a high roller. Not because his stakes are particularly large (his average stake might be between 100 and 150 USD) but because of his dedication to executing his wagering method (24/7 as the opportunities arise) and his ability to build up a huge bankroll at a bookmaker with whom his method works.

In summary, over the course of around 3 years he amassed approximately 4 BTC at Nitrobetting. I write this on 13th March 2024 so anyone here can make the simple calculation of what that is worth today.

My colleague's method is excellent - and he is a briliant bettor and gambler. But his bank roll management is terrible - in that he allowed a 4 BTC balance to build up at Nitro without a single withdrawal. To be fair to him, he was caught out by the recent doubling of BTC value, although even had it stayed around 35K his balance at a single book was way too large (his average balance at other books is around 20K USD).

The entire Nitro balance represented approx one third of his total bookie balance and crypto stack - devastating to lose it.

So, my colleague had to withdraw. The max wd at Nitro is 1.5 BTC but he did his withdrawals in significantly lower chunks. The reasoning was that if any one withdrawal had an issue (e.g. Nitro claimed to execute it but it did not arrive / some kind of address transcription issue / some other unforseen issue) he would lose only a percentage of his stack and not 1.5/4 = 37.5% of it in a single transaction. In addition he had recently been somewhat limited at Nitro and wanted to withdraw the lot - but give the appearance that this was not his intention - just in case this made a difference to the chances of successfully withdrawing.

Anyone who is familiar with Nitro knows of the terror of the " Your Withdrawal Status" email from Nitro. "Your withdrawal has been selected for a random security review". Even if you have done nothing wrong, when large sums are involved this is terrifying. He considered, for example, the possibility that he had committed some kind of unintentional transgression that would cause Nitro's "security review" to flag up some kind of issue that resulted in Nitro refusing to pay.

The first, second and thrid withdrawals were successful and each review lasted approx 24 hours after which he was paid. The next review lasted several days - around 5 days. This seemed illogical as nothing had changed after the first few withdrawals. As each day passed my colleague's terror built but then after 5 days Nitro paid. Then all subsequent withdrawals had security reviews that lasted about 24 hours. I have changed the exact timings and numbers here to avoid any Nitro employee reading this from identifying his account - although it doesn't matter as he has drained his account and has a balance of 0 - and he has no intention of betting at Nitro again.

So in summary my colleague got all 4 BTC out - although during the 5 day 4th withdrawal ordeal he did not sleep properly (if that withdrawal had flagged up an issue he still had a significant portion of his stack at Nitro).

I am posting this not to chastise my colleague. As stated, his method is brilliant but his funds management was terrible and he walked eyes open into a huge risk position that was entirely avoidable. This time he was lucky and he has stated to me he has learned his lesson and will not allow this to happen again.

I am posting this to congratulate the Nitrobetting bookmaker for its honesty and integrity. Thank you Nitro for allowing my colleague to withdraw his 4 BTC without incident (contra Christian Bale in "Equilibrium").

Now then - although Nitro claims to be completely anonymous (I am sure I have seen the word "anonymous" used multiple times it its literature) I have seen certain cases on various forums where Nitro has asked for kyc and/or there have been some issues with withdrawing (although in the cases I am thinking of all clients got paid in the end).

Therefore, here is a list of things you must do (and things you must not do) when using Nitrobetting - if you want hassle free withdrawals:

1. Check t&c for any current country restrictions. If your country is restricted just forget about it. Don't try to work around this. If your country is not restricted then just in case jump on live chat "Hello. I am in country X. I see from your t&c that I can have an account. I am just checking". Then screenshot the reply.

2. Never multi account. Just don't do it. There are certain ways (depending on how you do it) that Nitro can work this out. I won't go into detail here but I think I know all the ways Nitro can either know or strongly suspect.

3. Never use a vpn with Nitro. In exceptional circumstances where you think you have to, go on live chat and explain your reasoning and ask permission. Screenshot the conversation. I would never use a vpn with Nitro unless for some extraordinary reason I needed it to withdraw - and as stated I would ask permission first and screenshot it. In any other case don't do it - even with explicit permission.

4. BTC - this is an interesting one. Your BTC needs to be "clean". I am sure a few years ago I saw a thread here where player B's withdrawal was being contested by Nitro. What happened was: Player A was limited at Nitro. Player A withdrew his BTC. Player A transferred from address X to address Y. Player B joined Nitro and deposited from address Y. Nitro noticed this and there were issues with player B as Nitro thought A and B were the same person. In the end both A and B were paid I recall. The issue is that B's BTC was not clean with respect to Nitro. Because Nitro had paid to address X, Nitro could see on the blockchain that X went to Y and B deposited from Y.

5. Always use the same device to access the Nitro site. I know this one is controversial but for me it is simply not worth the potential hassle to not obey this.

Obviously my colleague obeyed 1 to 5 above. He got paid his 4 BTC and executed an Andy Dufrense from Shawshank (Andy Dufresne - who crawled through a river of sh*t and came out clean on the other side) - referring to the 5 day reveiw.

In summary - I am very impressed with Nitrobetting. They are honest as long as you don't break the rules.

During those harrowing 24 hours (and 5 days) you can be sure they are checking 1 to 5 above - and other things that I suspect I know but will not write here.

Thanks for being honest Nitro. My colleague wishes your company all the best.

Thanks for reading.

[Ewan101]

Interesting post.

Nitro are an interesting proposition. I am 100% convinced that they are trustworthy and will pay in almost all circumstances. One circumstance where they did not pay was when the player was in a prohibited country, the player knew they were in a prohibited country and the player took active steps to disguise their location. Nitro gave the player his deposit back but not winnings (as far as I reacall). I find this outcome fair. There's a strong argument that Nitro should be rated A and not B.

The idea of an "anonymous" sportsbook presents issues IF Nitro want to adopt the soft book model and not the sharp (e.g. Pinnacle) model. In the case of Pinnacle, for example, early lines come out with a low limit (and behind the scenes Pinnacle has a total max they are willing to take on that line). So, for example, A -5 at 1.92 with max bet of $100. If you take that line for $100 then Pinnacle immediately reacts and you might see A -6 at 1.92 or A -5 at 1.84 (for example). It is possible that the exact way Pinnacle reacts depends upon the profile of the account (sharp or mug punter). This kind of behaviour is that of a sharp book.

Soft books do not adjust like this - or they take their time to react. Therefore soft books need to limit players - otherwise sharps will put them in a position where they can never balance their markets pre-kickoff and they will enter the match in a position where they have been beaten by the closing line. If a book is consistently beaten by the closing line they will lose money and eventually go broke. I believe that for years Nitro has behaved as a soft book but in recent times there is evidence that they have transitioned into a semi sharp book model.

The model whereby a book is truly anonymous and soft at the same time simply cannot work. I think this is self-evident but I can elaborate if required.

So - IF it is true that Nitro has transitioned to a (semi) sharp book THEN there are strong arguments that Nitro should re-assess its t&c: No need to limit players, no need to police vpn use, no need to have security reviews where OP's 1 to 5 (+ other things) are analysed (with the exception of the banned country issue - Nitro needs to police this or get into trouble with that country's regulator = potential fines or worse).

In my opinion this is the only model that can work for a truly anonymous book (as Nitro claims to be) and I hope Nitro completes its transition this way.

I have huge respect for and trust in Nitro and I am very glad the OP's colleague was paid.

[newton0038]

Otters????