I have been impressed for 15+ years with Bovada's ability to process payments, even in the face of the UIGEA, Black Friday, and tons of other hurdles thrown against the industry.
However, I am seeing some not-so-encouraging signs from them in the past few weeks.
Two caveats here:
1) Bovada has paid quickly and reliably during its entire existence, aside from a few short periods when they had payment processor problems (which they always rectified).
2) I withdrew successfully as recently as mid-March with no issues.
I received the following text from a PFA radio listener:
I had a low 5 figure roll on there. I put in a cashout request on 3/30, and they approved it on 4/4. Then they canceled it on 4/6, saying that it exceeded my limit for that method.
That method was cashout-to-credit-card and $3000 was my request. THey said they lowered my limit to $2400 ater already approving my $3000 cashout.
Now I did a bank wire on the 6th, and received an e-mail saying it will be approved in 48 hours. I haven't received anything from them in 6 days. Called them but they are useless on the phone.
Now, none of the above by itself is alarming. Cashout-to-credit-card is already kind of a shady cashout method. It was common in the early 2000s, but I really haven't seen it since then. It raises all kinds of red flags (for them, not you as the player receiving it).
So it didn't surprise me that they had second thoughts about doing $3000 that way, and lowered it to $2400.
However, the bank wire thing is what concerns me.
While it's only been 8 days since 4/6, this guy says that they never even approved his cashout.
On my end, I requested a $9500 wire on 4/1 which was approved the same day. However, it's been 13 days and I haven't received it, or even notification that it's been sent.
Usually I receive notification that it's been sent within 2-7 days, and I receive it a few days after that.
So something is definitely slow/backed up here compared to usual.
I think it's most likely that their payment processors are having issues (like perhaps they got rid of their existing ones and are establishing new ones), but it's something to keep an eye on.