Money stuck on Ukrainian betting site.
- wc_seeder
- Gaining experience
- Karma: 1
Post
Money stuck on Ukrainian betting site.
Hey all, I recently started arbing and I used a Ukrainian betting site which allowed deposit without entering personal information but not withdrawal. Since I'm not Ukrainian or have a Ukrainian ID my money is stuck there. I think I'll be fine if I lose the money on it when arb betting but is there a way for this to get sorted?
- alealeale
- Totally Pro
- Karma: 45
Post
Re: Money stuck on Ukrainian betting site.
Do you mean that you can't withdraw in any way?
If so, that money (let's say 10) is lost.
If you keep arbing you are not sure to lose 10 there and winning 11 on other bookies
where you can withdraw from.
This way you risk to lose 21 (or even more, if you persevere in arbing using that ukrainian
bookie).
By the way, I hope I've misunderstood.
If so, that money (let's say 10) is lost.
If you keep arbing you are not sure to lose 10 there and winning 11 on other bookies
where you can withdraw from.
This way you risk to lose 21 (or even more, if you persevere in arbing using that ukrainian
bookie).
By the way, I hope I've misunderstood.
- risilloch
- Has experience
- Karma: 25
Post
Its a common misconception that you can 'withdraw' money by arbing the 'deposit only' bookie.
What you are actually doing is gambling on the 'honest' bookie and should you win then your winnings cover
the trapped funds at the 'dishonest' bookie. (Should you lose then you are simply increasing the amount of trapped funds)
I would take this as an expensive lesson and move on (also you could simply ask them to return your deposit but
a site that doesn't require registration before playing sounds pretty dodgy to me)
Re: Money stuck on Ukrainian betting site.
If you can't withdraw then you have lost the money.alealeale wrote: ...
If so, that money (let's say 10) is lost.
...
Its a common misconception that you can 'withdraw' money by arbing the 'deposit only' bookie.
What you are actually doing is gambling on the 'honest' bookie and should you win then your winnings cover
the trapped funds at the 'dishonest' bookie. (Should you lose then you are simply increasing the amount of trapped funds)
I would take this as an expensive lesson and move on (also you could simply ask them to return your deposit but
a site that doesn't require registration before playing sounds pretty dodgy to me)
- Wolfie
- Totally Pro
- Karma: 61
Post
Re: Money stuck on Ukrainian betting site.
You can use the account for paper trading to test your value betting strategies.
- wc_seeder
- Gaining experience
- Karma: 1
Post
Re: Money stuck on Ukrainian betting site.
It required an account but it didn't ask for my personal info, it only started asking for it when I wanted to withdraw.risilloch wrote:alealeale wrote:
I would take this as an expensive lesson and move on (also you could simply ask them to return your deposit but
a site that doesn't require registration before playing sounds pretty dodgy to me)