BetBTC Sportsbook is shutting down. Please withdraw the funds before 1/Sept/2021

JeromeTash

legendary

Activity: 2366

Merit: 1272

Heisenberg

So in a twist of events BetBTC is now up for sale according to the announcement in the thread and banner displayed in the website.

If you have a minimum of 10 BTC, you could become the new owner of the casino

Quote from: BetBTC on September 02, 2021, 09:20:36 PM

We're considering proposals (minimum BTC10)
If you may be interested, please contact us on Telegram @betbtcco for more info.

Woodie

hero member

Activity: 1834

Merit: 879

Rollbit.com ⚔️Crypto Futures

Another gambling platform closing shop, could this be because of a the growing competition or it's an issue of regulation and for your own information old gambling platforms hardly implemented this KYC requirements as they believed in anonymity...anyway they have run their race.

Quote

Our platform will remain online until 1st September 2021. You should withdrawal any remaining balance as soon as possible, until 1st September 2021

Thanks again for choosing to bet with us.

I don't know when the announcement was made but i think the sportsbook should have given people more ample time to be aware of this development and withdraw any funds on their account. Otherwise time frame to which users funds will be forfeited to BetBTC is too short!

Dread Pirate Roberts

sr. member

Activity: 1512

Merit: 326

Quote from: stomachgrowls on August 23, 2021, 02:42:07 PM

Yeah, it is just almost 10 days for the said duration for people to withdraw their funds but at least this is much something better rather than on ending up on a exit scam.

actually its 15 days ( 2 weeks from notices including announcement via email ) for personal reasons i think it's still quite fair . giving 15 days before withdrawing their money its fair because they are not an exchange and users should not saving Their money in the casino for that long, and im agree with some of user comment in here what they do its great. and seems like they really reach their user to inform this. ( announcement in home page of main website and also in ann thread + email notification)

https://bitcointalksearch.org/topic/m.57697292

concept2

sr. member

Activity: 750

Merit: 258

Quote from: JeromeTash on August 20, 2021, 03:05:22 PM

I still feel they should extend the withdrawal time frame a bit longer. 15 days is a very short time for all customers to notice that the service is closing.

No doubt. 15 days is not enough for people to beware from such news. What will they do with the remaining money from customers? Are they allowed to use them as their own property

Such a sad story of a long existing casino. But I guess they just cant handle when there are tons of better casinos around

DarkStar_

legendary

Activity: 2772

Merit: 3284

Quote from: timerland on August 25, 2021, 04:07:41 PM

I'm not sure if voiding all the other bets is the best policy to take here.

They seem to be in a real rush to close this entire operation down which makes me wonder if they have run into trouble with some sort of authority/regulator.

I think that the more transparent thing to do is probably let all of the bets settle, and simply not allow any new bets to be placed. Instead of voiding without warning all the bets that have been placed (potentially years ago on long shot events).

With Pinnacle odds they might have had offerings for things like the 2024 presidential election or "Organization to put human being on Mars first?", both of which have an end date that's very far out. Bettors with those bets would probably prefer getting them voided so they can be placed elsewhere, instead of hoping that a site that's no longer maintained will exist in 4+ years. I hope no one ended up getting screwed with an outright bet though.

Quote from: sheenshane on August 21, 2021, 06:44:17 PM

Quote from: BetBTC on August 14, 2021, 09:10:15 PM

All funds are safe, and there are no reasons to worry - We will pay every last satoshi in credits.

The minimum definitely still exists (I have a 0.034 mBTC balance that I can't withdraw) though it seems like deposits are enabled so nothing stops you from depositing to meet the minimum and then withdrawing.

PrimeNumber7

copper member

Activity: 1666

Merit: 1901

Amazon Prime Member #7

Quote from: JeromeTash on August 20, 2021, 03:05:22 PM

I still feel they should extend the withdrawal time frame a bit longer. 15 days is a very short time for all customers to notice that the service is closing.

Quote from: Lucius on August 22, 2021, 08:01:08 AM

I totally agree with you, because 15 days is too little time for everyone who has something on their accounts to be able to make a withdraw. I think that this could have the greatest impact on those who are on vacation and will not receive information in time, which will surely result in many complaints later.

It is generally not a good idea to keep coin in a casino account when you are not actively gambling, or do not plan on immediately gambling the coin. There is little to no benefit to not withdrawing, and there is the risk that your account will get hacked, or the casino itselt will get hacked (or "hacked").

timerland

hero member

Activity: 1526

Merit: 596

I'm not sure if voiding all the other bets is the best policy to take here.

They seem to be in a real rush to close this entire operation down which makes me wonder if they have run into trouble with some sort of authority/regulator.

I think that the more transparent thing to do is probably let all of the bets settle, and simply not allow any new bets to be placed. Instead of voiding without warning all the bets that have been placed (potentially years ago on long shot events).

LTU_btc

legendary

Activity: 3262

Merit: 1376

Slava Ukraini!

They were in the business since 2014 and they were one of early Bitcoin sportsbooks. So, it's sad to see that they're closing down. But at least they're closing in proper way and let users to take their money. Though, maybe it would better to give some more time.
BetBTC isn't first old crypto sportsbook or gambling website which had closed down. And I'm wondering what's the reason behind it. I doubt that they were unprofitable. My guess that's somehow related with regulations, but probably we won't get real answer.

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: The Cryptovator on August 22, 2021, 11:26:31 AM

Although seems they have good intention to return funds, but estimated withdrawal time is short in case of shut down the platform permanently. Some people would be busy or didn't notice regarding closing the platform. So they are at risk. I think at least a month would be better to allow withdrawal in case of permanent closes. But yes, something is better than nothing. Exit scam would more dangerous.

Yeah, it is just almost 10 days for the said duration for people to withdraw their funds but at least this is much something better rather than on ending up on a exit scam.

They havent put up or tell about the reason but hey this is just on personal basis but whatever it is then this is something that wont really be forgotten specially by its avid users for years.

Im not really that aware of its existence or im aint a user of this platform but its just sad to see a long running service had closed up their doors.

sheenshane

legendary

Activity: 2534

Merit: 1233

Quote from: The Cryptovator on August 22, 2021, 11:26:31 AM

Although seems they have good intention to return funds, but estimated withdrawal time is short in case of shut down the platform permanently. Some people would be busy or didn't notice regarding closing the platform.

You have a point about this but I think the announcement was also expanded on their email address that linked to their account.
I don't have an account on this gambling sportsbook but after checking on the site there's a register button and they required an email address upon account creation so I think their users will be notified through their email address used.

It might be good also if they will manually checking each account that has a balance and contact users through their email account provided. That's right 1-month time frame is good enough compared to 15 days. But I think BetBTC is already aware of this issue since it was discussed on their ANN thread and many members here had the same suggestion.

The Cryptovator

legendary

Activity: 2422

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Signature space for rent

Although seems they have good intention to return funds, but estimated withdrawal time is short in case of shut down the platform permanently. Some people would be busy or didn't notice regarding closing the platform. So they are at risk. I think at least a month would be better to allow withdrawal in case of permanent closes. But yes, something is better than nothing. Exit scam would more dangerous.

SFR10

legendary

Activity: 2968

Merit: 3406

Crypto Swap Exchange

Quote from: JeromeTash on August 20, 2021, 03:05:22 PM

15 days is a very short time for all customers to notice that the service is closing.

You're right, but it forces their customers ^{[most of them]} to withdraw their funds a lot faster, as opposed to doing it with more time at their disposal.
^{- Having said that, I do agree with @Lucius's point and I wouldn't be surprised to see them extend it in the near future.}

Quote from: sheenshane on August 21, 2021, 06:44:17 PM

I think they shouldn't do that since it's already stated here.

Quote from: BetBTC on August 14, 2021, 09:10:15 PM

All funds are safe, and there are no reasons to worry - We will pay every last satoshi in credits.

Seeing that they've clearly ignored both "AOBTCT6" and "Slow death" concerns, despite being active and responding to other stuff ^{[either directly by responding through a post or indirectly by sending merits to others]}, makes me doubt the highlighted part ^{[I hope I'm wrong]}.

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: JeromeTash on August 20, 2021, 03:05:22 PM

I still feel they should extend the withdrawal time frame a bit longer. 15 days is a very short time for all customers to notice that the service is closing.

I totally agree with you, because 15 days is too little time for everyone who has something on their accounts to be able to make a withdraw. I think that this could have the greatest impact on those who are on vacation and will not receive information in time, which will surely result in many complaints later.

Given the deadline they set, it seems to me that there is something more and that someone or something is forcing them to do it in such a short time.

sheenshane

legendary

Activity: 2534

Merit: 1233

Quote from: hugeblack on August 21, 2021, 01:31:35 AM

I do not like casinos and do not encourage people to invest them but are the two weeks without giving a way to communicate with support team is good? in common cases the site mostly shut down a month or two and then the door is left to connect with support team for 6 months.

But overall, they are still good because they give warning to their users that they will refund their money rather than becomes an exit scam.
I saw few gambling sites that have officially closed and don't have a problem. IIRC, YOLOdice is one of them.

Quote from: BetBTC on August 14, 2021, 09:10:15 PM

All funds are safe, and there are no reasons to worry - We will pay every last satoshi in credits.

hugeblack

legendary

Activity: 2702

Merit: 4002

I do not like casinos and do not encourage people to invest them but are the two weeks without giving a way to communicate with support team is good? in common cases the site mostly shut down a month or two and then the door is left to connect with support team for 6 months.
I also read that they have a 1mBTC minimum withdrawal, Therefore, many may not succeed in withdrawing those amounts.

JeromeTash

legendary

Activity: 2366

Merit: 1272

Heisenberg

1. One of the oldest Bitcoin casinos, BetBTC has been in operation since 2014

2. Recently, the announced that they were shutting down their business.

Quote from: BetBTC on August 14, 2021, 09:10:15 PM

BetBTC is closed!
Aug 15th, 2021

Thanks for betting at BetBTC.

We regret to inform you that we have decided to close BetBTC, in order to pursue other interests.

All funds are safe, and there are no reasons to worry - We will pay every last satoshi in credits.

BetBTC was a great success and it was our pleasure serving you for more than 7 Years.

Effective immediately, we will not be accepting new bets on Sportsbook, Blackjack & Binary Game.

All confirmed bets to be played until 28th Aug. stand, all other bets that would settle later will void. Platform will settle automatically at the completion of the event(s), as usual.

Our platform will remain online until 1st September 2021. You should withdrawal any remaining balance as soon as possible, until 1st September 2021

Thanks again for choosing to bet with us.

Good Luck !
BetBTC

Please, if you have any money in the casino, now is the time to withdraw before 1st September 2021.

I still feel they should extend the withdrawal time frame a bit longer. 15 days is a very short time for all customers to notice that the service is closing.

Topic: BetBTC Sportsbook is shutting down. Please withdraw the funds before 1/Sept/2021 (Read 251 times)