I just had an amazing experience with a withdrawal from a sportsbook. This is legitimately the first time I’ve been able to say that in years; basically the only time I’ve been able to say it since the days of neteller.
I won a good amount of btc yesterday with the Packers and Bears (Thanks NFC North!), and wanted to take some money off the table. I requested a withdrawal of 27btc from betcoinsports.com . This is not a small amount of money. Bitcoin has been ranging from $750/btc to $1000/btc, so this is basically anywhere between $20,000 to $27,000.
The withdrawal cost .0001 btc, which is $.75, less than a dollar, which the sportsbook picked up. And better than that, it only took MINUTES to get to me instead of weeks waiting for a check. And on top of THAT, it went to my own personal bitcoin address, which is a relatively anonymous 34 character address.
Not counting Neteller, the closest I ever got to this was trying to get a check from 5Dimes, BetJam, or theGreek back in the day. Except that usually cost money ($30’ish bucks a check compared to $.75). It would take a week to get to me (compared to minutes). And then I’d sometimes get the third degree from my bank for depositing this weird check from the book itself, or a weird check from a payment processor.
Sportsbooks, YOU SHOULD USE BITCOIN!
It is AMAZING.
P.S. Further benefits for the books include
(1) No possible chargebacks from your customers like you have from e-checks or credit cards
(2) No fees to cover for your clients from Western Union or Moneygram (It’ll cost you $1.00 to receive your money instead of the $65 Western Union Fee and the payment processor fee on top of that to collect)
tl;dr everyone, encourage your books to accept bitcoin. It will make everyone's lives easier.
I won a good amount of btc yesterday with the Packers and Bears (Thanks NFC North!), and wanted to take some money off the table. I requested a withdrawal of 27btc from betcoinsports.com . This is not a small amount of money. Bitcoin has been ranging from $750/btc to $1000/btc, so this is basically anywhere between $20,000 to $27,000.
The withdrawal cost .0001 btc, which is $.75, less than a dollar, which the sportsbook picked up. And better than that, it only took MINUTES to get to me instead of weeks waiting for a check. And on top of THAT, it went to my own personal bitcoin address, which is a relatively anonymous 34 character address.
Not counting Neteller, the closest I ever got to this was trying to get a check from 5Dimes, BetJam, or theGreek back in the day. Except that usually cost money ($30’ish bucks a check compared to $.75). It would take a week to get to me (compared to minutes). And then I’d sometimes get the third degree from my bank for depositing this weird check from the book itself, or a weird check from a payment processor.
Sportsbooks, YOU SHOULD USE BITCOIN!
It is AMAZING.
P.S. Further benefits for the books include
(1) No possible chargebacks from your customers like you have from e-checks or credit cards
(2) No fees to cover for your clients from Western Union or Moneygram (It’ll cost you $1.00 to receive your money instead of the $65 Western Union Fee and the payment processor fee on top of that to collect)
tl;dr everyone, encourage your books to accept bitcoin. It will make everyone's lives easier.