BetOnline remove controversial 6.5% bitcoin deposit fee

Discussion in 'Bitcoin Sports Betting' started by Humble Servant, Nov 2, 2016.

  1. Humble Servant

    Humble Servant Active Member Staff Member

    BetOnline is without doubt one of the best online sportsbooks for U.S. based gamblers so there was much rejoicing when they announced that they would be adding bitcoin payments to their cashier. BetOnline charge a 6.5% fee for credit and debit card deposits so their players made the reasonable assumption that they could avoid paying this fee if they switched to the crypto-currency. Unfortunately that wasn't the case and BetOnline continued to charge the 6.5% fee, putting the blame on their payment processors.

    The good news is that BetOnline have finally gotten rid of the charge and now all deposits made at the US sportsbook and poker room are processed free of charge. They released a statement which read "with the increase of players using Bitcoin as their primary funding method, there were some concerns about the fee. So we listened and did away with the deposit fee"

    We are relieved that common sense prevailed here and the ludicrous bitcoin tax was axed.

    Last edited: Feb 8, 2017
  2. Freddy

    Freddy Member

    thank god they have finally seen sense. both 5dimes and bovada have had zero bitcoin fees since the beginning so it was completely unfair for betonline to charge their players such a high fee. had there not been such a outcry on various betting forums, i doubt they would have removed it. personally i stopped using betonline after i saw the 6.5% reduction on my first bitcoin deposit so i am happy i can return now.

    bravo betonline!
  3. Umair

    Umair Member

    so does this mean that all the major U.S. gambling sites (bovada, americas cardroom, ignition casino, 5dimes) now all process bitcoin deposits free of charge? it really is a major victory of crypto that so many legacy sportsbooks and poker rooms have embraced it this past year.
  4. Humble Servant

    Humble Servant Active Member Staff Member

    No. BetOnline still charge 2% to process bitcoin payouts but hopefully they will remove that shortly. They run very generous promotions for new and existing customers so I think the 2% is worth it. Their betting lines tend to be better than Bovada's too.
  5. Humble Servant

    Humble Servant Active Member Staff Member

  6. Fatboy

    Fatboy Member

    Do BetOnline have a limit on the number of bitcoin withdrawals you can make in a month?
  7. Humble Servant

    Humble Servant Active Member Staff Member

  8. Humble Servant

    Humble Servant Active Member Staff Member

  9. Lance

    Lance Member

    i'm glad they elimiated those charges. they've even added support for other cryptocurrencies like litecoin, ethereum, dash and bitcoin cash that are also free to use.

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