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Topic: #1 RATINGS and REVIEWS of SPORTS BOOKS thread. Poster input appreciated. - page 64. (Read 89572 times)

legendary
Activity: 3920
Merit: 1061
What criteria did you use in making these evaluations?

Some of these books are only a few months old.

Hopefully you evaluated based on better criteria than "They gave me a freeplay".


Quote
How the books will be rated and weighted emphasis in order.

1. A heavy emphasis will be placed on speed of payments. Several books immediately pay out after the game has been graded. Those are the books with the least risk involved. Sweat the game, not the payout is not just a slogan. It should be a way of life for these bitcoin books. Bitcoin books have a much higher standard involved than post-up books because there are no fees involved and no need for a third party processor.

2. Grading time. Most postup books have automated grading; the winners and losers are determined minutes after the game is over. Bitcoin books that do this show that they have invested in their software. Books that rely on an individual to grade all games tend to have a high degree of risk.

3. Books not requiring personal information including an email address will be graded higher. Anonymity is a plus.

4. Date opened if less than 2 years. Bitcoin has just taken off in the past year, so it's unfair for one to compare a top bitcoin book with a post-up book like Pinnacle. But it is still important that a book shows itself to not be a flash in the pan. The longer a period of time a book has been open, the better its track record.

5. Limits. In general, the higher the limits, the deeper the bankroll of the sportsbook. If a bitcoin book takes high limits and pays out quickly, it shows its strength.

6. Sports and options offered. Uniqueness of lines and betting options is a positive.

7. Mobile betting. The ability to bet on the go can be important to some.

8. Live betting. The more, the better. Offering live betting isn't easy; the ones that do offer live betting lines tend to be stronger in general.

9. Customer service. The better the customer service, the more professional the book.

10. Interface. Ease of use is important.

11. Whether or not the book requires a deposit account. Depositing into a bitcoin book is a much bigger risk to the bettor, especially since these books have not built up a strong history that shows their staying ability.
member
Activity: 98
Merit: 10
CoinBet.cc
What criteria did you use in making these evaluations?

Some of these books are only a few months old.

Hopefully you evaluated based on better criteria than "They gave me a freeplay".

I can tell you that he not only did NOT ever request any free plays or credits, but he invested his own funds, and a significant amount, in playing our sportsbook.
legendary
Activity: 1078
Merit: 1000
What criteria did you use in making these evaluations?

Some of these books are only a few months old.

Hopefully you evaluated based on better criteria than "They gave me a freeplay".
legendary
Activity: 3920
Merit: 1061
Is anyone having any current problems in getting paid?
legendary
Activity: 1288
Merit: 1010
DirectBet, Are you saying that you have all these safeguards in place at your book?

We took a different approach than other Bitcoin sportbooks.

We don't take deposits and park your Bitcoins on our website. Instead, you send your bet to a designated Bitcoin address and your winnings are sent back directly to your Bitcoin wallet, automatically, within minutes after the result is determined.
newbie
Activity: 11
Merit: 0
DirectBet, Are you saying that you have all these safeguards in place at your book?
jr. member
Activity: 53
Merit: 1
Nice stuff guys. I agree with Direct Bet but doubt anyone is going to do a Poker Stars type of verification.  If a book consistently pays out quickly and often, that is good enough for me.
legendary
Activity: 1288
Merit: 1010
Peep, What 2 or 3 books would you say are the best when looking strictly at safety of funds?

For your Bitcoins to be safe in a sportsbook account, the sportsbook needs to store all user-owned Bitcoins (deposits and winnings) in a separate account from the account used to pay for their daily operations, in a similar way that Poker Stars is doing for its Poker players. In addition, it needs to make sure that there is always more than enough funds in the segregated account to cover all user balances in the event that everyone will want to withdrawal their entire balances at the same time.

Furthermore, they need to prove that they control the Bitcoins in the segregated account, and allow an independent 3rd party to audit it at any time.

Finally, they need to demonstrate that access to the cold storage of Bitcoins is not limited to one or two persons, otherwise, in the unfortunate event that something terrible happens to them, the Bitcoins will be gone. For this reason, the sportsbooks need to provide a 3rd independent and trusted escrow service with an access to the segregated Bitcoins that are used to cover user balances, and an authorization to distribute them to their owners in unfortunate circumstances.

To the best of my knowledge, none of the Bitcoin sportsbooks follow this practice or a similar one, and therefore your Bitcoins are not safe in any of them.

Stating that they have the Bitcoins in a cold storage is meaningless. They need to prove it, they need to allow an independent 3rd party to audit it at any time, and they need to show how you will get your Bitcoins in the unfortunate event that the people in control of it die.


Recently, there have been many Bitcoin sportsbooks that disappeared with all user balances. Unfortunately, as history has learned us, this will continue as long as there is no true protection to the users, similar to the one provided by Poker Stars in the poker industry.
legendary
Activity: 2338
Merit: 1122
Cloudbet | Best Bitcoin Gambling Site Since 2013
Hi folks,

Great initivate by Peeps Place. Please let us know if you have any questions or if there is anything we can help with.

At Cloudbet, we too store all player funds in cold storage, and do not ever take any currency risk.

Please feel free to contact us if we can be of any assistance.

Cheers,
Cloudbet
hero member
Activity: 702
Merit: 500
anonibet.com
Peep, What 2 or 3 books would you say are the best when looking strictly at safety of funds?
Not in order, just top 3.

Anonibet
SBOBitcoin
BitBook

Hi,

As Anonibet we keep all our bitcoins in cold storage. We are fervent believers in Bitcoin and we do not exchange our Bitcoins to any currency. We did not exchange any of our Bitcoins in April 2013 when the Bitcoin price skyrocketed at 266 USD or recently at 1260 USD. We have other Bitcoin investments (sorry, company policy I can not name them) and we believe Bitcoin will hit 10.000 USD in the coming 2-3 years.

In terms of security, in order to protect our customers we have recently introduce Google Authenticator and email verification code for withdraws.

Regards,
Michael
legendary
Activity: 3920
Merit: 1061
Peep, What 2 or 3 books would you say are the best when looking strictly at safety of funds?
Not in order, just top 3.

Anonibet
SBOBitcoin
BitBook
newbie
Activity: 11
Merit: 0
Peep, What 2 or 3 books would you say are the best when looking strictly at safety of funds?
legendary
Activity: 3920
Merit: 1061
News: DirectBet grades both Gold Medal winners in a dead heat as a win. DirectBet has added rules clarifying dead heats.

Quote

The Dead Heat Rule applies to bets where there are more winners than expected, as was in this case (there were 2 gold medal winners).
 
As a result, your payout was twice as much as it should have been.
 
However, since it wasn't clear from our rules that we are following the Dead Heat Rule on the Winter Olympics, the extra winnings are yours to keep.
 
The reason why I'm sending you this e-mail is to notify you that we are following this standard rule on all sports so that there would be no misunderstanding in future bets.
 
We have updated the rules page. You can read more about it here : http://www.directbet.eu/Rules.cshtml
legendary
Activity: 3920
Merit: 1061
Decided to give DirectBet and CoinBet a rating. Neither book has a no pay but both are new. The "C" rating is based upon being new.

"A" rated books
SBObitcoin (top rated book)
Anonibet  

"B"rated books
Betcoinsports
BitBook  
Casinobitcoin
Cloudbet  
NitrogenSports

"C" rated books
Bitbm
CoinBet
DirectBet

"D" rated books
BTCSportsbet
BTCSportsmatch
Jetwin

"F" rated books
Betcoinlive  
Bitcoinsport
Bitsaloon  
legendary
Activity: 3920
Merit: 1061
Thanks for keeping this thread alive and updating the ratings.  I will PM the OP, or just post on here, once I have a successful transaction with them.  Thanks again and best of luck!
That's great. More should give feedback on payouts.
legendary
Activity: 3920
Merit: 1061
I just want to make sure that there are no misunderstandings as far as my opinion with Coinbet. I played at Coinbet and took a payout. I'll go back again for March Madness. They may have the biggest presence on the forums of all the books. They answer emails fast. They answer the phone while many bitcoin books don't even have a phone number for us to call. They are aggressive and all indications point to them wanting to be in this long term. Coinbet said this in a post above and it's true. I take a very cautious approach for the ratings.
member
Activity: 112
Merit: 10
Thanks for keeping this thread alive and updating the ratings.  I will PM the OP, or just post on here, once I have a successful transaction with them.  Thanks again and best of luck!
legendary
Activity: 3920
Merit: 1061
Michael,

It's good to see you in the thread. It's nice to see both sides and all books should feel free to step in.
hero member
Activity: 702
Merit: 500
anonibet.com
Why is SBObitcoin on the A ? you got paid by him for posting ?

Nitrogen should be on A

.

How is Anonibet an A with no college sports to speak of...

Not having college sports did cause a lot of reflection. A couple of things stood out about anonibet. A player was overpaid 15 BTC. Anonibet took full blame for the mistake. They even went so far as to say that the player wasn't a cheat. I don't remember the exact wording but it had the same meaning. The player did pay back anonibet. Anonibet had an outage. Every player that emailed anonibet received .1 BTC for the down time. Anonibet opened in 2011 and has a maximum withdrawal of 500 BTC.

Dear RyanK and Peeps Place,

I have hesitated before writing here, because it seems that you are doing a good job here and I did not want to appear here as an operator. I do not want to influence your ratings since it is done by users and not by operators like us paying to be rated. I really appreciate what you have done so far. The only reason we do not offer yet College Sports is our heavy schedule, we have prioritize Anonibet Casino which we launch today. College Sports will be added very soon among our sports.

Thank you once again and sorry to occupy your thread.

Michael
legendary
Activity: 3920
Merit: 1061
Unrated as of this time
Coinbet - See post #50 for review

"A" rated books
SBObitcoin (top rated book)
Anonibet  

"B"rated books
Betcoinsports
BitBook  
Casinobitcoin
Cloudbet  
NitrogenSports

"C" rated books
Bitbm

"D" rated books
BTCSportsbet
BTCSportsmatch
Jetwin

"F" rated books
Betcoinlive  
Bitcoinsport
Bitsaloon  

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