Betting Talk

bitcoin question?

acetotenacetoten Senior Member
edited January 2018 in Sports Betting
hello,

I was going to do a withdrawal at bovada poker room which is connected to their sportsbook for 1,000
and I have always done a courier check. It says only 1 free one every 90 days and I received one back in december.
They want 100.00 for their fee and hell no to that.
Anyway, bitcoin option is there and it is free. Do any of you guys use it and is it easy to set up and all and is it safe?
I wouldnt know where to start on research? I googled it and geeez.
Another option is wire transfer, but it shows a fee of 100.00

thank you
ACE

Comments

  • spiderman77spiderman77 Senior Member
    edited January 2018
    It is absolutely the way to go for all books nowadays, but it does take a bit of effort to get everything set up.

    In a nutshell you need to set up a Coinbase account linked to your bank account and a Blockchain account to be used as the middle man account. This is because Coinbase cannot be used to directly send funds to books.

    Search for the Bitcoin thread from a year or so ago. It tells you everything you need to know.
  • GoatsGoats Head Moderator
    edited January 2018
    Try this thread...

    https://www.sportsbookreview.com/forum/bitcoin-sports-betting/3344027-how-use-bitcoin-sports-betting-video-tutorial.html
  • BraveHog21BraveHog21 Senior Member
    edited January 2018
    I sure Hope Soo
  • R40R40 Senior Member
    edited January 2018
    I did one bitcoin payout with them and they were very quick. Only trouble now is the confirmation process which could wind up costing you well over $50 depending on how much bitcoin moves up or now for the day.

    Rather than Coinbase, I would recommend Gemini as they do not require confirmations on all their bitcoin incoming transfers. You could possibly sell as soon as it hits the account.

    I would not worry about an intermediate wallet if you will not be doing too many transfers and would not worry about one at all if using Gemini.
  • R40R40 Senior Member
    edited January 2018
    I don't know what bitcoin fees are running right now but you could also potentially be hit for $50 for the fee alone from what I have seen.

    I personally would not do a bitcoin transfer at this time and would wait the three months but that is a judgment call.
  • KashmirKashmir Senior Member
    edited January 2018
    You can also have BTC transferred to this card and get cash from an ATM or use it as a credit card.

    https://bitpay.com/
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