Topic: #1 RATINGS and REVIEWS of SPORTS BOOKS thread. Poster input appreciated. - page 58. (Read 89572 times)

Another bitcoin book has taken the money and ran. StakeBTC.com is now off line, owing thousands of dollars to its clients.

StakeBTC first made itself known just last month with an initial post on Bitcointalk.org. They promised instant deposits and withdrawals, top-notch customer service and live chat with its represenatives.

They also gave a 25% bonus on a bettor's initial deposit, requiring a three times rollover before withdrawal. That was just the beginning, however. They soon offered juice free wagering; each winning bet received an additional 10% bonus. Another bonus offer rewarded a bettor .5 BTC for winning three straight bets, with the minimum wager being .1 BTC.

More "free money" began to be handed out. StakeBTC's next bonus offer was a gift to gamblers, a clear red flag: 100% bonus requiring just 3x rollover. That brought in a nice chunk of money. So they next offered the same 100% bonus with just a 2x rollover. Still in effect was the juice free wagering with winning bets receiving a 10% bonus. The ponzi scheme, paying off early investors with new money, was well under way.

The first sign of trouble occurred on Thursday. A long-time forum poster, known to many as Doc Dekay http://www.peepsplace.com/showpost.p...62&postcount=6, reported on Bitcointalk.org that a Wednesday payout request still hadn't been processed. He then stated StakeBTC was taking a shot at him:

Quote:
"-Last night at 12:53 am Eastern I made a withdrawal request for 15 btc
-This morning my request had yet to be fulfilled.
-Since live chat was down i asked at 932 am est what the status was in this thread.
- at 1014 am est a reply on here said my account was entirely pending.
- these bets were made at 1012 and 1015 est.
- the three bets were on cbb moneylines. I have never once bet cbb MLs and have never bet this much. All my bets range from 500 credits to 2500 credits. i give this book a lot of action and have never once bet more than that (500 credits = 1btc).
StakeBTC stated that Doc had made 40 BTC worth of bets that morning, and that the withdrawal request had come in after those bets were made, not the previous night. This was shown to be a lie when Doc Decay produced an email from him to StakeBTC requesting the payout from the previous night, made right after the withdraw request was filed online.

And that was the last we heard from StakeBTC. The site is now offline. Emails are bouncing. Reports of other thefts are starting to trickle in as well.

"Most bitcoin sportsbooks have no history," says Adam Hart, known as Raiders at PeepsPlace.com. "The anonomyity that makes bitcoins popular also allows bitcoin sportsbooks to be anonymous as well."

Hart is in the process of rating these new books specializing in bitcoins. "The benchmarks are different from regular post-up sportsbooks," says Hart. "Payout speed is the key determination. With post-up books, it might be a week before a bettor has his check in hand. A good bitcoin sportsbook will pay out in hours.""

They will also be unknown to all. "We know who runs Bookmaker. We know who runs 5 Dimes. But we don't know who runs BitBook."

That's not entirely a bad thing, as anyone familiar with The Greek and Legends sportsbooks know. It does, however, increase a bettor's risk. "There's going to be a lot more StakeBTC's crawling out of the muck," says Hart. "That's the nature of the business. The key is to shine a little light on these guys before anyone gets burned."

StakeBTC opened to forum members on January 18, 2014, although they have been open to a private group for a longer time. StakeBTC has a maximum bet of 30 BTC and many seem to play with StakeBTC for this reason. Others advertise higher limits but rarely is it available. There are a lot of good things about StakeBTC that I don't even want to mention at this time because of one point. When a sports book offers a 100% bonus with a 2x rollover, that's a huge red flag. The only thing keeping StakeBTC from being a "F", because of that bonus, is that they haven't had one complaint as far as payouts. StakeBTC opens at "D".

Dear Gogo,

Ole Group International is our Head Quarter and Sbobitcoin.com is under my supervision currently in Super-i Division. We based at Philippines.

I'm sorry for your inconvinient about Ole Group International email on the web ([email protected]), but recently i've tried to email that outside the web form and already aswered. Perhaps you can try again. We launched sbobitcoin.com about six months ago, so we may have not put into the list yet at Ole Group International web.

Personally I think in this igaming business, instead of what we build is trust we cannot actually expose our companies in the web. I hope this post will answer your question about us, and no longer an issue.

Thank you

Charlie Robert
Assistant Marketing Manager & Business Development
Super-i Division
Ole Group International

thx for the info, Very helpful

Today i made a withdraw of $409 from Coinbet.cc and the payout took only 5-10 minute .

Tx id

https://blockchain.info/tx/d45872fd729064a8d10d25bdcdbcc33e575ebcb162312f507a50e6503ea7c80e

Charlie Robert - "You are most welcome to visit us anytime. There is no hidden agenda here. Exposing our address can be good also bad thing for our business.
Thanks for all yout quiry"

"There is no hidden agenda here."

Then please answer  the questions I've asked you for the 2nd time in Post #171 above, rather than ignore them.

Also, when you enter the thread as a representative of one of the companies involved, it is helpful to state which company you are with and what your position is there.




" Exposing our address can be good also bad thing for our business."

Not sure what this means, but more importantly not sure why you even mention this. Are you taking obfuscation lessons from Peeps Place?

In all of the posting I've done in this thread, I have never asked for the physical address of sbobitcoin.com.

This is accurate.  I assumed the 1st post would be "current ratings"

I will read this entire thread starting now.  really curious more than anything.  Seems like a brand new model.


At first I read this as "SBO locks in a price and does both your deposit and withdraw at that price"

but then now I think it's something like "for every 1 bitcoin we give you 5k SBO units and upon cashout you give us 5k SBO units we give you 1 bitcoin"  

can't quite figure it out still.  The site looks very professional and it's possible whoever is operating it may have a novel idea here and I just don't quite understand it yet.



As for the rating system, IMO it seems the community love the very simple bitcoin-in-bitcoin-out | no dox | fast withdraw | long history of paying winners | never any fiat conversion books like bitbook / cloudbet / nitrogen.  There is something to be said (maybe B rating?) for btcsportbook / btcsportsmatch / anonibet and formerly bitcoinsports.eu (although to be fair I have not read that thread either and do not know what the issue is with bitcoinsports, I simply see ppl are pissed off)

the ones that aren't quite as pure, maybe taking longer to pay, offering less games, or requiring more personal info but still do function as a legitimate sportsbook I think should deserve a "B" level rating.  IMO reserve F for scams.

glglglgl to all the degens in this thread.

Every sharp in Vegas bet Seattle.

RTFT!


It's obvious you looked at the first page or a few pages and skipped most of it.

You skipped over the 2nd half of the thread where the majority of the posts were  discussing SBObitcoin.com beginning with post #83.

My assumption of how it works is that you "sell" your bitcoins to them when you deposit and then "buy" bitcoins from them when you withdraw.  You basically place bets through them, not with them.  I could be mistaken though.

Let's say you have 100 users who want to bet on miami-okc.  60 of them want to bet a total of 10k on miami.  40 of them want to bet a total of 9k on okc.  Instead of making 100 individual bets (where pinny is making the juice), it's smarter to 'book' that 9k of action yourself (keeping the juice) and just bet the excess 1k on okc at pinny to make everything square.  Of course that carries risks (line moves, max limits, ect).  

That being said I have no idea how sbo does it.  It's entirely possible they just create accounts for every user.  

Say what?  I'm not a bookie.  Just a player trying to use Pinnacle.

What I still do not get is whether they open a Pinny account with whatever personal info. you provide them (name, email, phone) or they open it with some ghost name?  I've asked them this question several times, but they seem unable to answer it directly.  Might be a language issue...I have no idea.

agreed with those being my top 3 at this time.  I don't bet on sports very much (compared to my poker play) but I like to keep tabs on the industry.  

can't quite figure out why the op rated SBObitcoin top dog.   after a quick look around, a bunch of things scare me.  "we use same conversion for deposit and withdraw to bitcoin" seems to be a fundamental flaw.  that coupled with the fact they use pinnacle sports somehow makes me quite likely to never deposit even something small to try it out.  Sounds like many layers of shenanigans.  would love to hear the OP's take on the site.  I saw they have pokers too.

What I still do not get is whether they open a Pinny account with whatever personal info. you provide them (name, email, phone) or they open it with some ghost name?  I've asked them this question several times, but they seem unable to answer it directly.  Might be a language issue...I have no idea.

I also talked with Coinbet on the phone. I'm not sure if he wants me to mention his name so I'll keep that out. He sounded like a great guy that understands the business. I did not ask him for anything to advertise and neither of us discussed money.

My assumption of how it works is that you "sell" your bitcoins to them when you deposit and then "buy" bitcoins from them when you withdraw.  You basically place bets through them, not with them.  I could be mistaken though.