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Thread: Betonline liquidity issues?

  1. #1
    Owner Dan Druff's Avatar
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    Betonline liquidity issues?

    A 2+2 Betonline rep confirmed that they are limiting players to a max of $3000 per week in payouts. Uh oh! https://forumserver.twoplustwo.com/s...&postcount=260

    Now a 2+2 poster claims that his Betonlne account with $30k was suspended for no reason, and they aren't answering him. (He's a poker player there.)

    On Saturday Mar 21 I was in the middle of playing a few 2/5 PLO tables when I was kicked from the client mid-hand and given a 3003 locked account error. Upon contacting customer support I was told that my account was under review and this was standard procedure they do for accounts both old and new. They stated it would take 72 hours to complete and that I would receive an email with an update to the status of my account.

    It has now been 5 days since than and I've received no sort of communication. After contacting support AGAIN and spending nearly an hour with their live chat AGAIN they are just giving me the runaround, refusing to give any explanation as to why my account was locked and only repeatedly saying they need more time and there is no ETA.

    This is outright theft and if one were to search Betonline they would see countless threads bringing light to the fact that Betonline has a long history of regularly confiscating large balances. What makes this even more suspect is that just yesterday Betonline Mike announced in the cashier thread that payouts limits have been reduced to $3,000 per transaction, 1 per week until further notice. Given that traffic has increased on all poker sites due to the current coronavirus situation it is a very disconcerting move and makes me question their solvency.
    Source: https://forumserver.twoplustwo.com/2...1#post55948262




    Clearly Betonline doesn't segregate player funds, and this current coronavirus-related run on the bank is eating up their cash. But now I'm wondering if I'll even get paid on the Biden bet I'm likely to win there.

     
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      Sanlmar: Valuable thx

  2. #2
    Master of Props Daly's Avatar
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    Id say there is a high % you will get paid.

    Id also say they are hoarding cash like everyone else.

  3. #3
    Residential Neighborhood badguy23's Avatar
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    Pretty sure I stated this in the gambling thread??

    BOL is ran by the Mafia lol.. Half the fckers r prob dead.

  4. #4
    Residential Neighborhood badguy23's Avatar
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    Quote Originally Posted by Dan Druff View Post
    A 2+2 Betonline rep confirmed that they are limiting players to a max of $3000 per week in payouts. Uh oh! https://forumserver.twoplustwo.com/s...&postcount=260

    Now a 2+2 poster claims that his Betonlne account with $30k was suspended for no reason, and they aren't answering him. (He's a poker player there.)

    On Saturday Mar 21 I was in the middle of playing a few 2/5 PLO tables when I was kicked from the client mid-hand and given a 3003 locked account error. Upon contacting customer support I was told that my account was under review and this was standard procedure they do for accounts both old and new. They stated it would take 72 hours to complete and that I would receive an email with an update to the status of my account.

    It has now been 5 days since than and I've received no sort of communication. After contacting support AGAIN and spending nearly an hour with their live chat AGAIN they are just giving me the runaround, refusing to give any explanation as to why my account was locked and only repeatedly saying they need more time and there is no ETA.

    This is outright theft and if one were to search Betonline they would see countless threads bringing light to the fact that Betonline has a long history of regularly confiscating large balances. What makes this even more suspect is that just yesterday Betonline Mike announced in the cashier thread that payouts limits have been reduced to $3,000 per transaction, 1 per week until further notice. Given that traffic has increased on all poker sites due to the current coronavirus situation it is a very disconcerting move and makes me question their solvency.
    Source: https://forumserver.twoplustwo.com/2...1#post55948262




    Clearly Betonline doesn't segregate player funds, and this current coronavirus-related run on the bank is eating up their cash. But now I'm wondering if I'll even get paid on the Biden bet I'm likely to win there.

    Obama fcks you again

    U best hope your alive to even collect on that bet.

  5. #5
    From a cash management standpoint having your depositors purchase the 3 month CD was worth 20%. You know exactly who your demand depositors are and can manage around them.

    Essentially you are promising to leave your fucking money online with them for 3 months.

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    As I said to badguy, I believe every single offshore gambling site has what is politely called at cocktail parties “fractional reserves”. Every single one.

    Learn to manage your account receivables. Don’t be a tantrum throwing faggot like I’m sure the average broke ass 2+2 poker player probably is.

    I have learned to play ball with these guys. I once had an issue with rollover and one or two other things. I play the submissive loyal customer always. I have always ended up whole.

    The game is the game. Ever so.

  6. #6
    Quote Originally Posted by Dan Druff View Post
    But now I'm wondering if I'll even get paid on the Biden bet I'm likely to win there.
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    There is no way Biden holds onto his marbles thru another 6 months of stress.

    I am prepared to lose this but it was fair odds.

    Practice touching your toes Druff.

  7. #7
    Silver sah_24's Avatar
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    Good to know, don't have much on there at the moment as their mtt schedule is not the best anyways

  8. #8
    Nova Scotia's REAL #1 Webcam DJ sonatine's Avatar
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    the naked face of online poker:


    "omg site X is confiscating my account. and if you look online you can find tons of threads about site X confiscating accounts. i cant believe this. insolvent?"
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  9. #9
    Copied wrongly somehow but this suspension of accounts was frequent mo by betonline . Betonline used to have guy who took care of players this happened to I don't remember his name.

  10. #10
    Residential Neighborhood badguy23's Avatar
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    Quote Originally Posted by FRANKRIZZO View Post
    Copied wrongly somehow but this suspension of accounts was frequent mo by betonline . Betonline used to have guy who took care of players this happened to I don't remember his name.
    I do!!

  11. #11
    Owner Dan Druff's Avatar
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    A few replies:

    1) Sanlmar, Biden is still the overwhelming favorite to be the Dem nominee. He doesn't need to last 6 months. The convention takes place in less than 4. Though there's some grumbling that Little Super Mario should be the nominee. I don't believe this will happen. It would completely upend the will of the people, and make the entire primary process seem inconsequential.

    2) I am not shocked that Betonline doesn't segregate funds. In fact, the shock would be if they did. It is sad, however, to see one of the most stable books go this way.

    3) I always say on radio, "The money isn't yours until you cash it out and it hits your bank." But it's still really frustrating when this shit happens.

  12. #12
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    Bookmaker allegedly limiting to 3k per week w/d

  13. #13
    Serial Blogger BeerAndPoker's Avatar
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    The cap is probably some protection to prevent mass cashouts in a time sports betting don't exist unless you bet on long term future bets they are having right now which have sick value cause they want to lock your money up, or that they are low on bitcoin.

    I've had a few issues with them a while back but I will say they have had some of the fastest cashouts in the industry the past few months many are done in 15 minutes (btc) during prime hours.

    Even with the bitcoin dip and shutdown of sports due to covid my last cashout took around 2 hours about 10 days ago.

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