Crypto Wallets

Maybe dumbass question but fcuk it! Why do books want us to send crypto instead of currency?

@lottamoneynono

 because its easy. 

easier for you to send and receive. easier for them to avoid processing fees and turds processing credit card chargebacks when they lose. 

By the way...this has been going on since 2013  and became widespread in the industry in 2016.

@steponaduck

 Appreciate ya

Looks so hard to do! 

it could not be easier. 

set up a coinbase account, or binance, or some other wallet. 

buy litecoin with a debit card

process a deposit into your book using litecoin. 

they provide the wallet address and do the conversion, you send the litecoins to them, 5-7 minutes later your account is loaded .

The banks don't let you buy crypto with debit cards if they're aware of it

@lottamoneynono

it is currency.  Like step said…it’s more efficient, both inbound and outbound…

@Dom_BooksWINS

 yes they do,

I have been doing it for 8 years, with multiple banks. they stopped allowing you to purchase using CREDIT cards, but I assure you, you can open a coinbase account right now and link your card up, and buy litecoins within minutes. 

I remember 7-8 years ago 5 Dimes was pushing everyone to start using this thing called Bitcoin cause it was easy deposit and unlimited withdraws with no charge. I had no idea what it was. 

@lottamoneynono

 I would tell you, but I cannot focus much at the moment due to your avatar...suddenly I need to eat a bunch of peaches but don't know why...

Years agoy friend  was forced to do Bitcoin by the book he choose. He made a lot of the bitcoins rising in value- his betting=not so good. Lol!! ??

If you cash out with bitcoin and deposit into your bank, does that get reported to IRS?  I was reading they want to apply capital gains to crypto.

Because crypto is untraceable and offshore books are illegal. It protects them from us gov. That’s the real answer. As far as convenience, it’s really not more convenient IMO. Having a saved cc number and pressing deposit is. I’ve been following crypto and studied it’s use case for awhile. Still really none exist atleast in developed countries with bank access. Since it’s creation the value has grown on manipulating markets and since 2017 propaganda and hype. 

@meknowno

 not necessarily. the difference in price from when you receive to when you liquidate to USD or CAD funds would be reported, but not the reception of coins. 

@Chris1049eriepa

 bull shiit...how many times did they have credit card dispute chargebacks from losing bettors. 

that all but gets eliminated. accepting litecoins is very smart for the book and the player. 

I live in a state with legal gaming now so that makes it easier. I once had a check from 5dimes in like 2012 that took 6 weeks to clear so I know that pain.

@steponaduck


Idk how many?

@packersbackers

@steponaduck

 What are litecoins?

Now, that's an old school take, by what I perceive to be an older gentleman...Do you actually have a coinbase account and/or crypto wallet?   Have you ever sent or received BTC.   Well, I have in the tens of thousands...Your post conveys that you are either ignorant on the utility of crypto and/or you possess a lack of trust of this new age financial vehicle...Its fine to be risk adverse and avoid things you don't understand, as I counter your perhaps unintentional misinformation spread.   When it comes to offshore wagering accounts, credit cards and wires are inefficient mediums for chumps in the modern era...in my opinion...With that being said, good luck on your picks this week!