Bookmakers forcing clients to receive withdrawals in BTC, guess why!

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Author Topic: Bookmakers forcing clients to receive withdrawals in BTC, guess why!  (Read 2531 times)
arbusers
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arbusers


A number of bookmakers and agents are lately forcing clients to receive their withdrawals in cryptos and not in the same gateway they deposited their money. That means they can receive deposits in Skrill, Neteller, ecoPayz, etc, but they only allow withdrawals via cryptos. In a very recent case, a bookmaker allowed a payment in a bank only for withdrawals above 7K.
Would you guess their reasons?
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risilloch
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risilloch

Re: Bookmakers forcing clients to receive withdrawals in BTC, guess why!
« Reply #1 on: February 15, 2021, 04:07:21 PM »
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Because it is profitable for them to do so!
There will be some percentage of withdrawals that will never go through. Weasels!

The exchange rate they offer on fiat to BTC is crap - kerching!
Some won't have the infrastructure\knowledge in place to work with BTC and will give up - kerching!
Setting up to receive BTC may be too difficult for some people so they will give up - kerching!
Introducing any delay to withdrawal increases the change some people will die\fall ill - kerching!
(classic tactic used by legal profession - delay, delay, delay)

Forcing withdrawal via bank means those operating with an ID other than their own have additional overheads that may be too
difficult to overcome - kerching!
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B_arber
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B_arber

Re: Bookmakers forcing clients to receive withdrawals in BTC, guess why!
« Reply #2 on: February 16, 2021, 12:25:32 PM »
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What if they invested their cash in BTC at very low prices and now they sell these BTC to their clients?
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obykoo
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obykoo

Re: Bookmakers forcing clients to receive withdrawals in BTC, guess why!
« Reply #3 on: February 16, 2021, 10:43:56 PM »
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Which bookmakers are we talking about?

There are still only few accepting bitcoin / cryto...
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cortomaltese
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cortomaltese

Re: Bookmakers forcing clients to receive withdrawals in BTC, guess why!
« Reply #4 on: February 16, 2021, 11:19:08 PM »
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A number of bookmakers and agents are lately forcing clients to receive their withdrawals in cryptos and not in the same gateway they deposited their money. That means they can receive deposits in Skrill, Neteller, ecoPayz, etc, but they only allow withdrawals via cryptos. In a very recent case, a bookmaker allowed a payment in a bank only for withdrawals above 7K.
Would you guess their reasons?

I guess this is their way of pocketing some BTC profits + some juicy % from their fx rates
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linzhaopeng
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linzhaopeng

Re: Bookmakers forcing clients to receive withdrawals in BTC, guess why!
« Reply #5 on: February 28, 2021, 02:39:13 PM »
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Because they will make great profit from it. The rate is so pool,for example the btc is 55000usd they will give you 56000usd,so they give you less BTC
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