Silk Road forums

Discussion => Newbie discussion => Topic started by: SmokesHisBroccoli on June 13, 2013, 09:17 pm

Title: Anyone do sports betting with bitcoin?
Post by: SmokesHisBroccoli on June 13, 2013, 09:17 pm
Just curious if anyone's like me and bets on sports with bitcoins.  I use btcsportsbet.com and can vouch for them.  The nice thing about betting with bitcoins is the ease of getting money into and out of your account.  No more wire transfers from Jamaica (I used bet jamaica as one of my main books years ago when I was betting with cash).  I used to have to go to the western union and put in some crazy foreign name to get the cash and they're telling you over the phone letter by letter like a 50 letter name lol. 

It's been a few months so I've bet with bitcoin since I lost my shirt last go around.  But I'm a pretty big basketball fan and going to lay some coin on the heat tonight at -1. 
Title: Re: Anyone do sports betting with bitcoin?
Post by: myfriendhasamoped on June 13, 2013, 09:27 pm
I'm gonna have to check this out later. Payouts are in BC ?
Fast?
Title: Re: Anyone do sports betting with bitcoin?
Post by: SmokesHisBroccoli on June 13, 2013, 09:41 pm
Yeah they accept only bitcoins and payout in only bitcoins.  It does take a number of confirmations in the blockchain before you'll see the bitcoins though.  So if you want to bet the 9:00 EST NBA game tonight, you'd have to move quick to send bitcoins to your account because it takes about 3 or so hours when xfering coins in and out there.  When the game is over they are pretty quick to payout your bets too.  If you're betting a ton of games like I was a few months back you'll notice they payout in waves.  Like on a college basketball or football saturday if you make 15-20 bets like I was (I don't recommend this, just pick a few and bet em big), I would notice some games were over for an hour or two before I'd get credit for the win.  They're not as quick as a typical book with payouts.  There were a number of times when I had my entire balance pending in bets and wasn't able to bet a later game because they hadn't credited my earlier bets even though the games had been over for a good hour or two. 
Title: Re: Anyone do sports betting with bitcoin?
Post by: SmokesHisBroccoli on June 13, 2013, 09:45 pm
Oh a couple more things you might want to know and I consider these negatives is their juice usually sucks.  They change the juice a lot before the line actually moves.  You won't typically see a -110 price just sitting there idle.  It'll be at -111 to -114 to -118 before they move the lines.  And you can only bet in increments of 0.25 bitcoins.  1 bitcoin is the minimum (edited - told you wrong initially) .  Not sure what the max is but I'd bet up to 500 on certain games. 
Title: Re: Anyone do sports betting with bitcoin?
Post by: MollyBaba on June 13, 2013, 10:06 pm
Yep, i put 1btc on the marooners
Title: Re: Anyone do sports betting with bitcoin?
Post by: myfriendhasamoped on June 13, 2013, 10:15 pm
I love the idea of BC  sports betting, but a $25-$30 min bet is a deal breaker for me. I mean, why not just let me bet any amount?
 Min deposit-ok
Min withdrawal(except to close account)-OK
Min bet-deal breaker

I mean why wouldn't I be able to bet .00000001 BC?

Title: Re: Anyone do sports betting with bitcoin?
Post by: SmokesHisBroccoli on June 13, 2013, 10:32 pm
Update:  I informed you wrong.  Minimum bet is actually 1 bitcoin now.  Their previous minimum was the lowest increment and that was .5 bitcoins when bitcoins were worth 13 a shot. 

I think it's setup that way because that's how they programmed the site.  And I bet whoever is running this site has gained some traction over the months and has a lot of people placing bets and probably wanted to create a minimum so they didn't have to have so much work to do and also take in a lot of juice at the same time.  Just like our moneypak to bitcoin vendors on SR, they don't want to mess with less than $100. 

I don't know what goes on behind the scenes there, but I have a feeling there is some sort of manual entry or score checking on the back side.  The reason I say this is a bet I placed once that should have resulted in a push actually got credited to me as a win.  So someone must have entered the wrong result.  This wouldn't typically happen at a traditional betting site like bet jamaica and if it did they would recognize and correct it pretty quick. 
Title: Re: Anyone do sports betting with bitcoin?
Post by: weed4me6969 on June 13, 2013, 10:32 pm
This is awesome, we NEED to get a bookie vendor on here!!!  Now that would be the shit!
Title: Re: Anyone do sports betting with bitcoin?
Post by: JJRocks7 on June 14, 2013, 12:10 am
very cool, just checking out the site now, I'm a big sports bettor/poker player myself and I keep telling my mates that when the gambling sites start accepting btc I think they will boom
Title: Re: Anyone do sports betting with bitcoin?
Post by: LasVegasLottos on September 05, 2013, 12:18 am
This is awesome, we NEED to get a bookie vendor on here!!!  Now that would be the shit!

I actually just extended my bookie services to include SR.  Check out my vendor page and let me know what you guys think.  Its a great way to try and turn a couple stray dollars into a sheet of acid.