Did you withdraw money from bookmakers, wallets, agents?

Poll
Question: Did you withdraw money from bookmakers, wallets, agents due to Covid19?
No - 34 (63%)
Yes, up to 30% of my bankroll. - 5 (9.3%)
Yes, 30-60% of my bankroll. - 6 (11.1%)
Yes, 60%+ of my bankroll - 9 (16.7%)
Total Members Voted: 53

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Author Topic: Did you withdraw money from bookmakers, wallets, agents?  (Read 1384 times)
arbusers
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arbusers

Did you withdraw money from bookmakers, wallets, agents?
« on: March 20, 2020, 07:41:14 AM »

It came to my attention, that we have seen a massive capital flight to safety during these last 3 weeks, due to Covid-19. Let's see how big this is. Notice, mots of our members are semi-pros and pros and the results of this poll will reflect the opinion of this particular type of players and not the opinion of the majority of recreational players.
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Alfa1234
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Re: Did you withdraw money from bookmakers, wallets, agents?
« Reply #1 on: March 20, 2020, 09:27:50 AM »

Been having a hard time withdrawing from Pinnacle, so far it has taken them over a week total to verify my credit card and it's still pending..I send them docs almost immediately upon every reply so getting annoyed with them.
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DPG
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Re: Did you withdraw money from bookmakers, wallets, agents?
« Reply #2 on: March 20, 2020, 10:03:56 AM »

Take your money out of William Hill if you have any there. They are going to go bust.
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arbusers
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Re: Did you withdraw money from bookmakers, wallets, agents?
« Reply #3 on: March 20, 2020, 10:12:28 AM »

Take your money out of William Hill if you have any there. They are going to go bust.

What makes you say so really?
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DPG
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Re: Did you withdraw money from bookmakers, wallets, agents?
« Reply #4 on: March 20, 2020, 10:28:29 AM »


Their share price has gone from 200p to a low of 36p in a month. They look to be in trouble.
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Mtipster
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Re: Did you withdraw money from bookmakers, wallets, agents?
« Reply #5 on: March 20, 2020, 10:32:51 AM »

That was an issue even before this situation.
UK government plans to severely reduce stake limits on fixed odds betting terminal. That was the reason some hedge funds were shorting GVC and Betfair mid February. Coronavirus situation crashed the stocks further, but I doubt they are in trouble.
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arbusers
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Re: Did you withdraw money from bookmakers, wallets, agents?
« Reply #6 on: March 20, 2020, 08:50:01 PM »


Their share price has gone from 200p to a low of 36p in a month. They look to be in trouble.

This is happening to all casino/gambling stocks as I see it. I m sure casinos will not be bailed out by any government, but they have 2 strong cards in their hands.
1st, they can send home the vast majority of their personnel to reduce costs
2nd, the rental fees will be rolled over or receive a great haircut. Already there are some countries in Europe that made it legal to haircut rental if under Covid-19 pressure.

Theoretically, they could send everyone home, stay with the infrastructure and wait until the economy starts again.
Coincidentally, I just watched in CNBC a contrarian hedge fund manager, buying casino stocks.

People will gamble again when this thing comes to an end, sooner or later.

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neopas
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Re: Did you withdraw money from bookmakers, wallets, agents?
« Reply #7 on: March 21, 2020, 02:13:30 PM »

I withdrew some funds where I had to pay no fees. But if I have to pay some fees I prefer keeping the money there and wait till the Chinese virus stops. After all, you lose money with the negative interest rates in banks. Better through that burden to ewallets and bookmakers.
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Samael
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Samael

Re: Did you withdraw money from bookmakers, wallets, agents?
« Reply #8 on: March 22, 2020, 03:16:51 PM »

I think everyone should pull out whatever they can right?

Few exceptions aside,almost all bookies have history of stalling and avoiding payment even in normal circumistances.
This will not get better when they suddenly have so many withdrawal request.
Also fees can only go up.
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DPG
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Re: Did you withdraw money from bookmakers, wallets, agents?
« Reply #9 on: March 22, 2020, 08:19:37 PM »

i agree with samael. i am shocked by the poll so far where 65.8% chose no. this pandemic is going to last many months and maybe even a year or more if certain countries don't get their act together. there could be a 2nd or even 3rd wave of infections spreading throughout the globe. nothing is certain. then for sure some companies will no doubt go bust.
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alealeale
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alealeale

Re: Did you withdraw money from bookmakers, wallets, agents?
« Reply #10 on: March 23, 2020, 05:34:47 AM »

i agree with samael. i am shocked by the poll so far where 65.8% chose no. this pandemic is going to last many months and maybe even a year or more if certain countries don't get their act together. there could be a 2nd or even 3rd wave of infections spreading throughout the globe. nothing is certain. then for sure some companies will no doubt go bust.
Bookies provide casino, poker, virtuals as well and I think most of their incomes come from those.
Not to be too much optimistic but perhaps our money are not lost. Different matter that concerns agents but I realize that I'm still betting through them, even if small amounts, so I suppose they still have customers.
Having said that, the situation is dangerous.
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arbusers
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Re: Did you withdraw money from bookmakers, wallets, agents?
« Reply #11 on: April 11, 2020, 07:03:53 AM »

The Covid19 crisis and the subsequent stop of almost all betting activity might be prolonged for some time. In addition, some members reported slow pays from some bookmakers and some agents. Under the prism of today's reality, will you be withdrawing funds from your betting bankrolls?
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arctrading
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Re: Did you withdraw money from bookmakers, wallets, agents?
« Reply #12 on: April 11, 2020, 10:02:19 AM »

The Covid19 crisis and the subsequent stop of almost all betting activity might be prolonged for some time. In addition, some members reported slow pays from some bookmakers and some agents. Under the prism of today's reality, will you be withdrawing funds from your betting bankrolls?

Agents no but i got scammed in Betzest due to breach of their "Terms and Conditions" same time as covid :D Bad bookies def to have caution with and take money out...
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Dannyboy
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Re: Did you withdraw money from bookmakers, wallets, agents?
« Reply #13 on: April 11, 2020, 10:05:45 AM »

-Withdrawn from all bookmakers except those with high protection
-Withdrawn majority from ewallets - the first sign of trouble, will deposit money into high protection exchange
-Agents - tried to withdraw everything from Asianconnect (but was unsuccessful)
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Littletroll1
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Re: Did you withdraw money from bookmakers, wallets, agents?
« Reply #14 on: April 11, 2020, 02:42:55 PM »

It seems people here do not realize that most gambling revenue comes from casino and that is going to explode when people are stuck indoors. So is poker.

Obviously sportsbetting is going to take a hit, but there's still plenty of stuff to bet on (eSports, table tennis, soccer in some countries, horses, greyhounds dart etc.) The "best" customers at the bookies (the fish) do not care what they bet on, so they are going to continue.

A few bookmakers that has retail stores are going to bleed a bit, but it's not a big deal. The industry is very adaptable. There's no inventory that expires, staff can stand down and most importantly, as soon as sports starts again (which will be very soon), they are up and running at 100% from one day to the other.

I would not worry about bookmakers going bankrupt. I personally thought it was an absolute steal for the bookie stock prices a couple of weeks ago and went in. It was obvious that people do not know how the business works when they think this will be the end of bookies. My guess is that we will see the stock prices pretty much back to January levels by the end of this year.
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