Bitcoin sportsbooks with automated payouts?

Discussion in 'Bitcoin Sports Betting' started by Smug Satoshi, Jul 14, 2016.

  1. Smug Satoshi

    Smug Satoshi Member

    Do any of the bitcoin sports betting sites allow you to have your payouts sent automatically to your btc wallet? For instance, if I place a winning bet, I would like to have the option to have that money sent directly to the Mycelium wallet on my phone as soon as the event is graded. From a security perspective I think it's always safer not to leave too much money in your player account.
  2. Humble Servant

    Humble Servant Active Member Staff Member

    I think that might be problematic. If the bitcoin automatically leaves your account how would Two-Factor Authentication work? You would have to disable it, which would be dangerous.
  3. uglymug

    uglymug Member

    i only use 2 step verification when i'm leaving money in a third party account. if my winnings are sent directly to my trezor or keepkey then i'd be quiet happy to live without 2 step.
  4. NKOTB

    NKOTB Member

    Nice idea but my guess is turning off Two Factor Authentication would cause too many security concerns.
  5. Fatboy

    Fatboy Member

    How about if you only need 2 Step Authentication to change the recipient address. Otherwise it continues to send balances over $100 directly to your bitcoin address. That would be a pretty cool feature in my opinion.
  6. Humble Servant

    Humble Servant Active Member Staff Member

    Many bitcoin friendly bookies, including BetOnline and Bovada, require you to provide a new address every time you request a payout so that wouldn't work.
  7. Gooch

    Gooch Member

    Once the Lightning Network is working properly in a year or two, I suspect that automatic payouts will be normal since it will be free and instant to send small transactions. It will make sense not to store too much on sportsbooks then when it's so easy to withdraw.

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