Topic: Loot.bet - booted after just 3 small bets :) (Read 102 times)

OP this does not sound as great a sportbook as you have said. No one would dare make such silly mistake here after reading through all these you have written. I can see from other comments that this casino already have issues and are on ignorant of their lapses. So how do you expect members to go play or gamble with them. Do you not think that would be too risky to get engaged with such casino? Although the treatment meted you is not a good one to start with and I think this is a lesson learnt so that next time you will have to d a proper findings before engaging with a casino.

If it's enough, centralized casino won't boom like this and I even think smart contract are so risky because there are lots of scam cases about them in the past or even up until now. It's easy for a scammer to create a smart contract and then there is no way to report them because they are decentralized. Casino always want to make sure that they are winning more than the winners so yeah, they can do crazy things like restricting or limiting the gamblers account.

Sometimes they can also rig their games or manipulate the results of it but many of us will think the result are just a normal loss because that is already the usual thing that occurs. KYC is not a way to restrict an account but it can actually increase our limits once we complete them.

I understand your frustration and pain OP and it is quite worrisome to be having such experience with a casino you just feel like giving a try for the first time and having such an experience with them. At first I think this has to do with the repuration of such casino and as such this topic should be moved to the reputation board here and furthermore, you would need to be patient with them so as to finish their processing as they claim to be processing it.

I had to check for myself to see if the presence of this casino is recognized here and to my greatest surprise, they are fully represented here but are currently inactive which is not a good sign for a casino here. Here is the link to the casino announcement thread for you to see LOOT.BET and here you have the profile of their representative.  From the looks, their representative have not been active as well.

These are the reasons why it is advisable to do your own research before engaging with casinos. I think you should have noted this if you had used the trustpillot review function to see for yourself what others are saying abut them.

There are plenty of online casino and mostly are scams with ponzy schemes and be careful with that. You might wanna lose all your saving on these types of betting sites. Just be aware.

I don't think smart is enough.

Casino just want to restricted or prohibited advantage player, that's why you have a low limit with new account. In-every case advatange player taking some advatange strategy, they will restric you:
- KYC
- Limit Bet
- Other
It's happening on casino games as blackjack, even we all know you still can losing. Even a smart-person still can get a backoff in blackjack table.

There is still a long path ahead before it becomes mainstream, if you want my opinion.
Also, since not everyone have the time or the coding skills/education to verify for themselves a smart contract, someone may argue there is also a factor of whether one is willing to trust or not whoever has written the contract; not even mentioning the challenge when comes to reliable oracles, so those bets can settle in a truly decentralized way.

Anyways, obviously OP has a very lackluster experience, specially because those in customer support did not even realize initially there were dealing with the same address of deposit, one can expect a little bit of everything in this industry, it seems. 

the answer to all these shenigans, is to bet with smart contract only, it is coming but slowly.

Being limited on the max bet after having a win streak when you are new player is not that a big deal since you are not profitable to casino even if you are just starting. On the other hand, Holding your withdrawal just because you didn’t verify the wallet address that you will receive the funds from the casino because the casino doesn’t care where do you want to send the money after you won since that’s already outside their scope.

KYC verification is the only thing they need to ask for their customers and not where they will spend it. If you have time, attaching screenshots for the proof such as conversations with the support will be helpful to validate your story.

Use talkimg.com to upload picture.

Most of casinos always give users a limit bet for (sportsbook) users.

The limit you are gonna own will depend on the wagering you are making on the casino. Since (sportsbook) are gambling can be beatable by strategy and other think from user perspective that's why every casino limit this action.
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One things, there always have unwritten rules 1x deposit wagering (for money laundry) some of casino written these and some casino don't. Usually, casino-user will not have any problem at all most of problem case story i meet always from sportbook user. Since, casino hated losing they just make some rules on the game and everything. Same example like (Blackjack) in landbase casino while you are card-counter they will back-you off and ask some ID at the time you cashout (to be input on their system) as card counter.

I just tried something so absurd that I want to share it, so others might save their time saving up with this website called loot.bet.

It all started with me seeing them mentioned in a thread on here, and I thought I would give them a chance. Did not get any deposit bonus or anything like that. I just wanted to try out their sportsbetting service.

I started by sending them a small deposit of 2 LTC(about 120 EUR). I placed 3 bets of 0.5 LTC with them on some minor league soccer that was about to start(nothing wrong with the games, just regular soccer matches). Got a lucky start and won all 3 for a total profit of just around 1.5 LTC(about 90 EUR). Then when I was going to place my bet number 4 for 0.5 LTC again, I was limited to a max stake of just around 3 EUR per bet!

I never tried getting limited after just 3 bets and for such small amounts. It is just ridiculous to run a sportsbook like this. I am an overall losing bettor who just bets for fun, so why in the world they would limit my stakes to so little after 3 bets is just crazy. So just be aware that at this sportsbook, you apparently get limited if you win 3 bets in a row for a huge amount of 90 EUR

But hey, I can always just lose my money elsewhere, so I'll just withdraw my deposit and small profit and bet elsewhere.. But it turns out it was not that easy to withdraw either. Smart thing about crypto is that it is fast to use. But not at loot.bet. After first waiting about 24 hours my withdraw request was suddenly just canceled and I got a message from someone in the chat telling me that I had to roll over my deposit one time due to their money laundering rules. Like anyone would bother to launder 120 EUR So now I had to turn-over the last 0.5 LTC with their new super low limits. Luckly my deposit was so small that it was easy, but ironic that they do not want me to bet with them, and yet forces me to continue anyway. But keep this in mind if you deposit with them and they limit you this quickly, you might not be able to withdraw for some time, because they will force you to roll over with tiny bets.

So next day I was done rolling the rest over, and actually lost, but thanks to them limiting me I did not lose much   So I put in another withdraw request for the balance. Nothing happens for about 30 hours.. So I contact them on the chat, and are now told that the withdraw is not processed because I had not verified the LTC address I send the deposit from. This is ofcause just another delay tactic since I requested the withdraw to the exact same address as the deposit came from, and I was already ID verified. At no point did they contact me to tell me this, first when I contacted them, they came up with this strange requirement.

So after being told to upload a screen shot of the transactions from my wallet, and upload it under "bank card" my withdraw was finally processed almost 3 days after the initial request. All this hassle is over about 180 EUR.

If this sounds like a great sportsbook to you, I can recommend that you go ahead and give loot.bet a try. If you do not like that sort of treatment, you might want to stay away from them