1. #1
    Alles Klar
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    Withdrawal process for US citizens

    I was just wondering if the withdrawal process for US citizens has been alright. Like if I do deposit by check to my bank, is there a possibility that the bank might reject my check? Do banks get suspicious if you keep depositing checks by a gambling site, or do they just usually let it go through? Thanks for the help, I'm just concerned about these things

  2. #2
    durito
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    find a local

  3. #3
    bigboydan
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    I haven't read of any real problems lately on this subject sir. In fact the only thing that might give you a problem is if the book sends you a check drawn off a Canadian bank account. If thats the case then you might have to wait about 3-4 weeks to clear the international clearance.

    SBR Founder Join Date: 8/10/2005


  4. #4
    Alles Klar
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    Cool, Thanks for the help, I chose Matchbook as my sportsbook, hopefully the withdrawal process won't be a bitch

  5. #5
    Bobby
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    Yeah kind of a flip to what Dan said...I live in Canada and I guess a year or so ago (maybe less), the checks I would get from 5D's would be coming from a bank in Quebec, so the hold on the check would only be a couple days for me. I guess 5D's switched banks and suddenly my checks were coming from Florida, this caused me problems with my bank in Canada wanting to put a hold on it for 10-15 business days, which to me is unacceptable. My solution was to talk to an account manager at my branch and have the release on my account set to $2000 so I can have access to the funds of any check $2000 or less immediately without having to wait for a hold. Since then I've joined TheGreek and the checks also come from somewhere in Florida. So I would say get the release (not sure if this is what it's called in the US) on your account raised to whatever you can, will save you alot of headaches. Not sure if any of that info will help you out but thought I'd mention it

  6. #6
    wtt0315
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    i had a bank a while back (regions here in the u.s)close my account for sending and recieving echecks from a so-called gambling company. it was citadel echecks and also the company that vip sportsbook used.

  7. #7
    LT Profits
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    Well, Citadel was rather high profile and it became common knowledge that they were servicing sportsbooks and poker sites. Nowadays, books use under-the-radar processors (except for Bodog, which uses messenger by foot).

  8. #8
    ico2525
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    How long do you think books can keep it up with Moneygr*m and Western Un*on? (** and **). I don't want anyone googling those names and getting directed here. Eventually someone has to look into it. I'm not saying they'll ever go away in this industry, but I think it'll become increasingly harder as they blacklist certain names, and books have to find different people to act as senders / receivers.

  9. #9
    Wilforth
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    Quote Originally Posted by ico2525 View Post
    How long do you think books can keep it up with Moneygr*m and Western Un*on? (** and **). I don't want anyone googling those names and getting directed here. Eventually someone has to look into it. I'm not saying they'll ever go away in this industry, but I think it'll become increasingly harder as they blacklist certain names, and books have to find different people to act as senders / receivers.
    Yes, books find ways to circumvent such hurdles by using people who act as receivers.

  10. #10
    fiveteamer
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    I'll book your action.

    I use paypal

  11. #11
    RealSlimShady
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    How much does it cost a book(in terms of %) to receive and payout money on average?

  12. #12
    ico2525
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    You can look up the fees online. For example BetOnline charges $75 to withdraw $1k, but it really only costs them $50. They have to pay the processors though, so that accounts for most of the difference.

  13. #13
    max_asdf
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    know anyone that works at the branch, they can remove the hold on the cheque. anyone can do it, if they want to.

  14. #14
    RealSlimShady
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    Quote Originally Posted by ico2525 View Post
    You can look up the fees online. For example BetOnline charges $75 to withdraw $1k, but it really only costs them $50. They have to pay the processors though, so that accounts for most of the difference.

    I am aware of what they charge the player, but was curious what the processors charge the books, etc.

  15. #15
    FadeThePublic
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    Quote Originally Posted by Alles Klar View Post
    I was just wondering if the withdrawal process for US citizens has been alright. Like if I do deposit by check to my bank, is there a possibility that the bank might reject my check? Do banks get suspicious if you keep depositing checks by a gambling site, or do they just usually let it go through? Thanks for the help, I'm just concerned about these things
    The check isnt coming from a gambling site. The check is coming from the sportsbook's payment processor which is separate from the book. If the check said "thegreek" or "betjamaica" on it then the bank would know whats going on and you'd be fukked.

  16. #16
    ico2525
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    Well based on the numbers, the payment processors can charge anywhere from a dollar to 25. I know that's not a good answer, but I do know that big books pay upwards of $100k per year for their third party payment processors.

    To be honest it's hard to know how risky a book is anymore. Sportsbook.com for example was a great book, but when Zip Payments fvcked them, they lost a LOT of money, and then they were stuck with no way to realistically pay customers. I thought Bodog was a great book. Calvin Ayre was a great businessman. Unforunately the demise of Bodog came as payment processors got taken out and then later when the US gov't stepped in.

    It has been mentioned before, the best books (that serves US customers) are ones that keeps their MULTIPLE payment processors on the ultra down low.

  17. #17
    SlappyWhite
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    Yeah as fare as MU or ** they have you send the money to maria consuela martinez lopez fernando heuero in panama or some such stuff. Its pretty easy.

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