Topic: How to convert Bitcoins into cash, using bookmakers and arbitrage techniques. (Read 3868 times)

Other way to get cash online. Nice information. Thanks.

This is possible, whenever you get bonus from some bookmakers you have to loss the bet, otherwise its will be a burden for you...

Hi ctlaltdefeat,

We are able to run this service because of our strong relations in Asia where we are paid commission for generating turnover.

Cheers,
Asianconnect team

I guess from them being affiliates and referring you, and them getting a certain % of losing bets?

How do they make money then?

I'm not really great at explaining.


1. You tell AsianConnect you want to deposit X BTC.
2. You send the deposit and tell them (AsianConnect) what sportbook(s) you want to bet at.
3. They create the account(s), they deposit the $X amount converted into those account(s).
4. They send you the account detail(s).
5. You bet away.
6. You either lose it all or withdraw (converted back to Bitcoin).


I don't think I can explain it better than that.

How does it actually work though? How do you bet on fiat books through them? How much does the intermediary (asianconnect) charge you?
Perhaps you can explain the model/add a few screenshots, leancuisine

I've doubled my account balance, but I haven't tried withdrawing yet.

I'll try to withdraw today if I still have a balance though.

Any news leancuisine?
I was thinking, the recent decline in Bitcoin's price might be a variable factor in arbitrage betting. If for example some cash betting accounts end up in Bitcoin accounts, then you have a lot to lose. At the same time, the other way around would produce some nice windfall profits. I might be considering of a 3rd bet in order to be safe from Bitcoin's ups and downs.
Thanks.

If you want to know more details about cash back. You may contact our representative at [email protected] They are online 24/7 to serve and assist you regarding our services offered.

Feel free to ask questions with them.

Don't worry about withdrawal it's easy when you are not registered on our BTC Bonus.
If you want to withdraw in your account simply contact our support and they will assist you right after your request for withdrawal. In a contrary, those who signed up in our bonus specifically in bitcoin they need to meet the 10x rollover. Then your account will be credited with the bonus upon completion of a 10 times rollover of the qualifying deposit amount.

For more Information you can read the terms and conditions:
http://www.asianconnect88.com/terms-conditions-bitcoins/

Hope this helps.

SBOBitcoin is another agent. They convert bitcoins to Asian currencies, Hong Kong or Singapore dollars. There haven't been any problems with them to date.

They have a very tight KYC policy. The important thing with them is that you get the best odds available in the market.
Furthermore, you can get a cash back on your volumes and this might be something for those who arb or bet big. Just search asianconnect88 cash back.
Let me know about your experiences with them.
Thanks.

My 0.2BTC deposit went fine with them, but you need 3 confirmations before it is credited to your account. When you signup they offer an USD account, but after chatting with support they state they only deal with Euros...

My 0.2BTC got 82 Euros, and that rate is locked in until I withdraw. Seems good so far, although I do think withdrawal would be harder.

I did just research a bit on AsianConnect, the website does seem a bit shady. They are licensed and have been around since 2006, so I went ahead and deposited 0.2BTC to play with on the fiat based bookies, but only because they offer better odds than Bitcoin based ones in my experience. I'll post back if it all works out, or not.

I believe that all UK bookmakers have softer roll over requirements than X40. But again, you can e-mail them and declare that you dont want any bonus. I wouldnt do that. I would go for the bonus too.
AsianConnect88 is a giant in the market, operating for many years now, having great reliability.
PremiumTradings is indeed new to the game but this doesnt mean that they are unreliable.

Weird he would say premiumtradings was one of the most well known asian bookies then, right??

I wonder if post was a shady ad for them.  OP I think most people know these techniques but post 2 had a grea tpoint, you don't want to take any of the bonuses etc. because ti locks your money in there usually for at least 30 days and a certain rollover requirement.

I think that Premiumtradings is a new agent. As always, be cautious with new agents. If wrong, please correct me.

Just wanted to point something out. Usually you would want to avoid these 'bonus offers', as they lock your deposited balance in until you meet the required rollover amount. You generally wouldn't want to accept these offers if you aren't planning in playing 40x your deposited amount at that one specific bookie, and that balance would be unusable in transferring to other bookies for more arbitrage bets.

This is going to useful for those who are familiar with sports arbitrage. If you are not familiar with this, you might need to spend some time to understand what I am talking about.
There are 2 categories of bookmakers. Sharp bookmakers such as Betfair, Pinnacle, IBCbet, Sbobet, and soft bookmakers like William Hill, Ladbrokes, StanJames, PaddyPower etc. Sharp bookmakers are very sensitive and react very quickly when odds are moving. It is believed that Sharp bookmakers represent the real value of every bet. On the other hand soft bookmakers are not that fast when changing their odds. The reason behind this is the fact that players that bet there are square, while players using sharp books are indeed sharp. Another reason for this is that most soft bookmakers are taking bets from their street shops as well and it takes a lot of time until an internet trend finds its way to the street shops. William Hill, Ladbrokes etc, have to balance the bets that they take from the streets with those that they take from the Internet. Betfair and Pinnacle don’t have to do this because they don’t have street shops. Therefeore, the odds that you get from soft bookmakers hide an extra value, while odds from the sharp bookmakers have the real price.
Professional arbitrageurs observed that over the long run bets placed in Sharp bookmakers tend to lose while bets placed in soft bookmakers tend to win. That said, if you are doing arbitrage while betting, money will move from sharp bookmakers to soft bookmakers.
A very well-known arbitrageur gathered data from his actions for the last 3-4 years and presented them here:
http://arbusers.com/index.php/topic,2215.msg27855.html#msg27855
He made more than 30.000 bets following arbitrage strategies, he observed the phenomenon that I just described and presented it in the link that gave you.
Now, where is the catch here? As you might know there are Asianbookies who are offering accounts in Sharpbooks such as Betfair, Pinnacle, IBCbet, Sbobet etc, and they do accept Bitcoins as a deposit method. The most well-known Asianbookies that accept bitcoins are AsianConnect88 and Premiumtradings. The strategy that I suggest here is deposit bitcoins to AsianConnect88 and Premiumtradings and deposit real money in soft bookmakers. Following arbitrage techniques you will be able to move money from sharp bookmakers to soft bookmakers and then withdraw this money as real cash to your e-wallets.
There are side profits here as well.
-   You get bonuses whenever depositing to a bookmaker. Depending on where you live, soft bookmakers could give you anything from 50 euros to 200 euros each.
-   You get the arbitrage profit that could be anything from 0% to 3-4% for each arb you take.
-   You could get cash back from e-wallets and the Asianbookies depending on your volumes. (Search asianbookies cash back)
On the other hand, arbitrage techniques come with significant risks. Those who are not familiar with arbitrage might face dangers and capital loss. Another bad point of my theory is that soft bookmakers will eventually limit your accounts when they find out that you are doing arbitrage.
I hope you find my theory useful. Thanks for reading.