New site coinbet24.com
Some questionable items in their Rules:
"5.1.7. We reserve the right to apply a handling charge of up to 5% on deposits and withdrawals to cover transaction costs."
[5% to cover zero deposit costs to coinbet24 and about 4 cents USD for a withdrawal (assuming they will pay the miniscule miner's fee)?]
"7.7. If the odds for a pre-live market move in your favor between the time that a bet on that market is submitted and the time that it is accepted by Coinbet24, the bet will be accepted at the odds at the time the bet was made. Your bets and prices can always be displayed by clicking “My Profile” and “Bets”."
[So if the odds improve for the bet we are trying to make, we get the original now worse odds.
But if the odds worsen, we get the worse odds.
Correct?]
Bump.
Hi Gogo ppp & all other Bitcoin talk members,
I see that there are some questions to our rules at coinbet24.com. I will here try my best to explain these.
Question 1:
5.1.7. We reserve the right to apply a handling charge of up to 5% on deposits and withdrawals to cover transaction costs.
The intention of this rule is to reserve a right, not to execute this for normal customers.
The reason for “deposits” being mentioned is, that we plan in the future to introduce other payment forms, from which we will be charged a certain percentage. Should we ever choose to make the customer pay part of such charge, then I can guarantee, that we will display this, when the customer is making such deposit.
The reason for reserving a right for a withdrawal fee is because we have during our combined 20 years+ experience in the gambling industry have seen the strangest things. Example would be a person repeatedly depositing money and then withdrawing these without any gambling action in between. So we process withdrawals manually, which means that a person has to take some actions to process each withdrawal. The costs of this is off course something we pay and do not mind paying for any customer betting with us. Both I am sure that you can understand, if a person let’s say 10 times repeatedly just deposit and then right after request withdrawal without any gambling action. Then we would probably execute this right.
I have made an internal suggestion, that we remove “deposits” from 5.1.7 and add any deposit fee for specific payment methods in separate clause. I hope this change will be approved and executed later today.
My last comment for this is that Coinbet24 have so far never executed this right.
Question 2:
"7.7. If the odds for a pre-live market move in your favor between the time that a bet on that market is submitted and the time that it is accepted by Coinbet24, the bet will be accepted at the odds at the time the bet was made. Your bets and prices can always be displayed by clicking “My Profile” and “Bets”."
I actually agree that the wording of this sound a bit strange.
Let me first assure you, that when you place your bet and see confirmation, then the price is fixed, no matter which way the price goes. If any changes happen between the time add the bet to your coupon and press submit, then a box will appear telling you that the price has changed and you will have the option whether you still want to make the bet.
Well, I believe that rule 7.7 was intended for a system feature, which we have still not introduced. This is when someone want to place a rather large bet, e.g. BTC 100 @ price 5.0. Such large bet might be accepted, but would enter into manual approval, which probably can take up to an hour. I think the rule then describes, that if the bet then in the mean time changes, then it is would be the price a the time of the bet that would be counting, if the bet is approved.
Again, I see no reason to have this rule before such feature is introduced and I have also put in request to have 7.7 removed for now.
We really appreciate all your inputs for Coinbet24.com and thank you for these, as we always want to improve all aspects. I hope you are also are happy with our answer to these. Should you have more questions about rules or other aspects, please feel free to write again. (Maybe let us know that there is a question on
[email protected], since I do not constantly monitor all forum threads.)
Thanks again