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Money stuck on Ukrainian betting site.

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wc_seeder
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Money stuck on Ukrainian betting site.

Wed May 26, 2021 12:19 am

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
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Re: Money stuck on Ukrainian betting site.

Wed May 26, 2021 5:35 am

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.
risilloch
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Re: Money stuck on Ukrainian betting site.

Wed May 26, 2021 7:11 am

alealeale wrote: ...
If so, that money (let's say 10) is lost.
...
If you can't withdraw then you have lost the money.
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)
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Wolfie
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Re: Money stuck on Ukrainian betting site.

Wed May 26, 2021 8:17 am

You can use the account for paper trading to test your value betting strategies.
wc_seeder
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Re: Money stuck on Ukrainian betting site.

Wed May 26, 2021 1:39 pm

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)
It required an account but it didn't ask for my personal info, it only started asking for it when I wanted to withdraw.

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