Bitcoin Sportsbook player owed 0.65 bitcoin balance

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A player has reported that he has not been paid his 0.65 bitcoin balance ($380). The player has no way of getting in touch with over the unpaid balance as their site is now fully off-line and their last known email address bounces. claimed that while it was closing all player funds would be honored. This remains to be seen. released the following statement to players via their website on Wednesday, March 12, 2014:

"Important Announcement

We have decided to shut down Although BitBook is shutting down, we are not running off with user funds. We ask that users submit their withdraw requests now. Since we will be moving funds out of cold storage to cover these withdraws please allow up to 48 hours for withdraws to be processed.

As of now we are no longer accepting new bets. Bets on events that have not started yet will be pushed to allow you to withdraw your full account balance. We’d like to thank all our users and the entire bitcoin community for your support and patronage. It has been a pleasure to serve you."

Bitcoin sportsbook news reported by SBR

SBR reported on February 27 that StakeBTC allegedly scammed a player by misusing his $25,890 balance and being publicly caught in a lie over details on the balance. StakeBTC went off-line after news broke of the scandal.

SBR reported on January 10 that BTCSportsBet stole $6,700 in player winnings. BTCSportsBet has been in business since January 23, 2011. The shop refused to pay four winning college basketball bets, although they paid the rest of the balance owed. BTCSportsBet claimed that the player was guilty of "irregular betting patterns", and would not comment beyond that in its correspondence with SBR.

Bitcoin sportsbooks remain a risky prosition. Players are advised to proceed with caution and not invest more than they would be comfortable losing before doing business with unknown bitcoin sportsbooks that are not connected to an already established bookmaking company. The relatively anonymous nature behind bitcoin lends itself to would-be scammers; tech geeks can setup shop in their garage, host a website relatively easily, and begin accepting bitcoin wagers even if they have no intention or means to pay.

SBR welcomes feedback from all users that have experience betting with bitcoins. SBR also welcomes communication from bitcoin sportsbooks directly, and will attempt to handle player disputes as with traditional post-up sportsbook issues. Users that wish to submit a complaint can file a sportsbook complaint form. Players can also share feedback at the Sportsbook & Industry section at SBR

SBR will continue to monitor and update readers on bitcoin sportsbook and casino developments, complaints, and news.

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