Topic: [ANN] Cointeller.eu - Deposit Here, Play Everywhere! BTC Sportsbetting Concierge - page 2. (Read 3600 times)

No verification, No ID.  You are completely anonymous.  We provide you with the accounts from the sportsbooks. 

I'm still a bit confused as to how this works. So we open an account with Cointeller and deposit BTC to Cointeller. Do we then have to personally open accounts at each of the books we are interested in (and go through their verification procedures, send in ID, etc) or is this all handled by Cointeller?

Yes, of course.  You may have an account at each sportsbook .  Each sportsbook has a minimum deposit amount.  Those amounts are listed on the cointeller.eu website.  Sorry to say none of our books have horses at the moment. 

could a person just say..open up one at all 9?

Our customers identify the books they want to play at.  We assign them an account at those books.  They are free to move their coins as they please, throughout the Cointeller Network of books.  All of the betting is done on the websites of those sportsbooks.

interesting concept here.  I didread the thread but might have scanned a few things.

My question is this one.

Once a client  joins through the cointeller.eu site  (which appears to only need an email  and a password)

you can then send bitcoins from your personal wallet to your cointeller account   (identified by your email and password)

then how do you line shop at all these books?  how do you see what games they might have?  if you dont have an account at any how do you look around
and choose stuff to bet on?

is it all somehow  dispalyed in the cointeller site after logging in?

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Legions36,

You raise some interesting points.  I’ll try to respond to them. 

The term “agent” is a confusing a term within this industry with a mostly pejorative connotation.   The truth is an “agent” can be bookmaker with hundreds or thousands of customers, booked through a site he has contracted to do service/write his customers or it can be a little guy who operates at the bottom end of the food chain, meeting up with small number of local players hoping to extract a small percent of player losses.  In the case of all the sites on the Cointeller Network, the accounts are being booked by large, established bookmakers with a very large customer base.  In the future, I will probably be more inclined to describe our bookmakers as “pph bookmakers” as opposed to “agents.”  Both terms are accurate but the term “agent” is confusing and unnerving for many.  The owners of Cointeller.eu as well most of the bookmakers on the Cointeller Network have been in the offshore industry for over a decade.  Many of these individuals have worked with one another for years.  There is not a bookmaker on the list that Cointeller does not feel comfortable guaranteeing.


Additionally, you will not see any large bet sizes or ridiculous bonuses.  Initial maximum bet sizes will be in the 4-6 BTC range.  This will grow in time.  At the moment, no bookmakers are allowed to offer a bonus to players on the Cointeller Network.   There are a few pph bookmakers who are willing to offer a introductory bonus and others who are dead set against it.  Allowing bonuses to be offered by a few pph bookmakers is a a real disincentive to other potential bookmakers Cointeller is currently negotiating with.   At some point, small, on-time time bonuses will be allowed .   Cointeller is focused on gradual sustained growth.

 We realize trust is not awarded without a spotless history of prompt payouts and excellent customer service.  In the months and years to come, you will see more established, well known books appear and a lot of “bobo” books.  There is no difference in terms of risk associated with any of these books.  We realize some players like to see more well known books, while other (mostly sharp) players desire off-screen pph offices with unique numbers.  We believe Cointeller offers something of value for all types of players. 

As of right now everyone needs to know that this place is offering books who have screwed players in the past, I have read horror stories from some of the books. The rest of the books are just some bobo no name books that nobody ever deposits at. How can they encourage people to deposit as horsesh-it places, it says a lot about this Cointeller, I also like how they are trying to guarantee players money at these sh-it books. Of course they can't get good books yet to agree to this they are new, why would books want to trust coins and personal info with them. Hopefully it works out but any of these bonuses that come from these books are beyond risky even for me and I try out everything.

Some agents receive a volume percentage instead of percentage of losses.

As Cointeller has mentioned in this thread, SBOBitcoin.com has been doing this for about 6 months already.


"This is truly an innovative concept..."

Agents have existed for a long time.

If it's a pay-per-head shop, which apparently many of your books are, then yes the agent is booking the bets.

If it's Pinnacle, SBOBet, IBCBet, Bookmaker, then the sportsbook is booking the action, and the agent is getting a commission based on player loss.

I'd feel much more comfortable with one of those books, than with an unknown company giving me an account with an unknown agent.

This is truly an innovative concept being done here. I will definitely take part once I see some events I want to bet on.

Our statement regarding the agent - pinnacle relationship is overly broad, there are many arrangements as to how agents and their parent sportsbooks conduct business.  We would like to respect the arrangements of agents and their parent sportsbooks regarding individual details, but comparing the bet limits an agent's account takes vs the bet limits at the parent sportsbook usually signals which type of relationship exists.

In our situation, we are placing ourselves between many sportsbooks and sportsbook agents, all of whom we have vetted and have met our requirements to be added to the Cointeller Network.

"This is no different than SBOBitcoin, by the way.  Open an account with them and you are betting at Pinnacle,  but is Pinnacle booking your action?  No, you are being booked by an agent of Pinnacle.  So the A+ rating of Pinnacle is of little benefit."

I disagree.

If I use SBOBitcoin or any other agent and get an account with Pinnacle, Pinnacle is booking the action and the A+ rating (and mainly, their history, reputation, my knowledge and previous dealings with them) make me feel secure that the money is there to cover my bets.
If I win X dollars, Pinnacle pays the X dollars to SBOBitcoin or any other agent, and the agent pays me with the money received from Pinnacle.

The danger is whether the agent will pass the winnings back to me without stiffing.
[And then whether Pinnacle (or any other sportsbook using agents) will take responsibility].

The agent is a conduit, telling Pinnacle they'll pay Pinnacle for my losing bets (with my post up funds in the case of SBOBitcoin or yourself), and telling me that you'll pay me my winnings with the money Pinnacle gives you.

So imo at least I don't have to worry about whether Pinnacle has the funds to cover my winnings.
I have to worry about the agent being honorable and passing the funds from Pinnacle to me.

Whereas if it's a shaky book, there's the chance the book goes under in the future.
Then the agent could be put in a difficult financial situation trying to cover winning bets themselves.
So a bad situation is more likely.

Wow, that is fantastic! Please get Pinnacle on board ASAP - that bookmaker alone would take interest in your site "to the moon" as they say 

That is correct, you deposit once with Cointeller, and then you are free to disperse your balance across the various sites in our network as you wish.  Also, both your balance at Cointeller.eu and your balances at any of the sportsbooks are kept in BTC or mBTC, balances are never converted to fiat.

Cointeller, just to clarify, all deposits and bets are done through your site meaning we don't have to create accounts on the individual bookmaker's sites?

Gogo PP

Lots of good questions, here are some answers.

Thanks for spotting that typo, we are fixing it now.

The books in the Cointeller Network are listed on the Cointeller.eu website under a section named Network, they can also be found here: http://cointeller.eu/network

We are negotiating with a number of sportsbooks.  I can’t provide any specific timeline in regards to a particular sportsbook.  You might see some of these on board as early as next week while others might not join the network until end of the summer (Closer to football season).  Our goal is to have 50 books up by the end of the year.

Mitigating risks?  We are assuming responsibility for all balances involved in the Cointeller Network.  Rather than engage in business with just a few sportsbooks, we have contracted with a large pool of sportsbooks and agents.  Bet sizes are reasonable but not excessive, you will typically find maximum bet sizes of around 4 BTC in most packages at this time.

Ratings (especially SBR's) are subjective and often times reflect whether a rating site conducts business with a sportsbook. Additionally, ratings usually include a number of factors : financial solvency, customer service, bet variety, customer limits.  I would look at payout reports from customers for a better way of rating individual books.

In the case of the Cointeller Network, all funds backed up by Cointeller. Cointeller is in some cases contracting service through an agent of the sportsbook, not the post up division of the sportsbook.  In the case of Cointeller,  rating of the sportsbook is irrelevant since these accounts are booked by agents of book.

This is no different than SBOBitcoin, by the way.  Open an account with them and you are betting at Pinnacle,  but is Pinnacle booking your action?  No, you are being booked by an agent of Pinnacle.  So the A+ rating of Pinnacle is of little benefit.   Your only question should be, “do I trust Cointeller to stand behind the balance of my [Book name here] account?”  We believe the answer to that question is a firm yes, but we recognize that the burden of proof falls upon us to prove this.  We hope to grow our reputation and your trust over time through quality service and payout reports from players.


Thanks for asking the tough (and most important) questions, we will be here to answer more!

Of the books of yours I see listed in Peeps Place thread, only 2 are even listed at SBR:

ABCIslands  = Rated C

InstantActionSports  = Rated C

"SBR recommends players choose sportsbooks with a minimum rating of B+"

"C- to C+    Average service and some risk to players funds."

Can you be more specific?

How are you able to mitigate your risks?