Betting Partners forcing affiliates into Bitcoin

Good point vinyl.

But it is my understanding that you must have a bitcoin wallet to do business?Such as Circle/Core/Blither/Blockchain. I'am new to this like a new born babe.

But it is clear to me a laymen that I need a wallet to do business with them? If there is a way to create a wallet that will generate bitcoin code then more power to you. I'am not able to do this as it would appear to be a techy thing and I do not have the know how?

The wallet's are free and you only get hit for fee's if you use a CC and the cost of switching bitcoin's to US or Euro? Who get's that is a mystery?

But I do agree why do I have to use bitcoin? Well because being a US player my option's are sh-t as to what I can use to move my winning's to my hand's.This is to a degree my own fault because I choose to make a few buck's in a air of illegal gambling site's and jumping thru hoop's to get paid?

The real question is it worth it? I at this time am not sure?
I'm owed $2400.00 by a accredited casino that has lost the only real payout option I had (cardpay) and they are hell bent to try to drive me to play it all back. But they are very wrong I will wait until they realize that the code's are valid and they pay me. Period!

But truly if you have a way to use a wallet that is created by you and make's the payment's to you via bitcoin's I would very much like to talk about it.PM me if you have a easy way to get it done please?

Thank's again guy's I have had a hell of a week and it's not over yet? But it will be soon?Peace Out! Out Of The Mist! shewoff

P.S I believe that bitcoin is a system and the wallet's are the way to gain access? I may be wrong thou?
 

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Good point vinyl.

But it is my understanding that you must have a bitcoin wallet to do business?Such as Circle/Core/Blither/Blockchain. I'am new to this like a new born babe.

But it is clear to me a laymen that I need a wallet to do business with them? If there is a way to create a wallet that will generate bitcoin code then more power to you. I'am not able to do this as it would appear to be a techy thing and I do not have the know how?

The wallet's are free and you only get hit for fee's if you use a CC and the cost of switching bitcoin's to US or Euro? Who get's that is a mystery?

But I do agree why do I have to use bitcoin? Well because being a US player my option's are sh-t as to what I can use to move my winning's to my hand's.This is to a degree my own fault because I choose to make a few buck's in a air of illegal gambling site's and jumping thru hoop's to get paid?

The real question is it worth it? I at this time am not sure?
I'm owed $2400.00 by a accredited casino that has lost the only real payout option I had (cardpay) and they are hell bent to try to drive me to play it all back. But they are very wrong I will wait until they realize that the code's are valid and they pay me. Period!

But truly if you have a way to use a wallet that is created by you and make's the payment's to you via bitcoin's I would very much like to talk about it.PM me if you have a easy way to get it done please?

Thank's again guy's I have had a hell of a week and it's not over yet? But it will be soon?Peace Out! Out Of The Mist! shewoff

P.S I believe that bitcoin is a system and the wallet's are the way to gain access? I may be wrong thou?

I had a look at Bitcoin mining a while back, and if you download and install mining software, it also has a method for creating your own local Bitcoin wallet to hold any Bitcoin you happen to mine. It's an alternative to using a free third party wallet. However, having your own Bitcoin wallet doesn't help with the problem of exchanging Bitcoin to and from Dollars, for this you still need an exchange, which is probably what the third party wallets make easier by integrating exchange with their wallet.

A third party wallet isn't a problem in itself, it becomes a problem where, like Circle, you are getting all these problems that you should not be getting with the Bitcoin codes. Also, when you have your own wallet, you have no third party policing what you use Bitcoin for, which could possibly be the root of the problems with Circle. Third parties also make the process more vulnerable to errors because it creates a longer chain of transactions when moving deposits and withdrawals between player and casino, or affiliate program to affiliate.
 
i have Bitcoin Core (QT) on my own computer, created an adress and is accepted by BP without any problem, which is logical, a bitcoin adress is a bitcoin adress, wherever it is generated.
 
BettingPartner casinos have been removed from the Accredited section at Casinomeister. It's a real shame that this company chooses dictatorship over partnership. :rolleyes:

Bodog has been accredited here since June 2004 - that's a 12 year relationship that apparently didn't matter to them. I on the other hand have taken flack and have publicly supported them by putting my reputation on the line by ensuring that their casino operations meet our accredited standards. I see that this had little meaning to them. Oh well, happy trails.
 
I guess I'm an outlier on this one, as I see the requirement as reasonable and not so onerous. It's tough for some operators, especially the larger ones, to pay U.S. affiliates, because banks don't want to touch the money, even though there's nothing against the law about paying for advertising.

To make the change, I simply opened a wallet with a Bitcoin wallet service, Bovada pays me in Bitcoin, and the wallet service *automatically* converts the Bitcoins to U.S. dollars. So I never actually hold Bitcoins, and never have to deal with them at all. I can then transfer the dollars to my bank whenever I want. It's really painless. It never occurred to me to be up in arms about the change.
 
I guess I'm an outlier on this one, as I see the requirement as reasonable and not so onerous. It's tough for some operators, especially the larger ones, to pay U.S. affiliates, because banks don't want to touch the money, even though there's nothing against the law about paying for advertising.

To make the change, I simply opened a wallet with a Bitcoin wallet service, Bovada pays me in Bitcoin, and the wallet service *automatically* converts the Bitcoins to U.S. dollars. So I never actually hold Bitcoins, and never have to deal with them at all. I can then transfer the dollars to my bank whenever I want. It's really painless. It never occurred to me to be up in arms about the change.

It's the fact that it's an ultimatum, not a dialogue, that has people up in arms. They also seem to have given little notice of this, and also seem to be applying it world wide, to affiliates who have no problems with the money going to their banks, and who might have problems with the tax authorities when their affiliate income "suddenly stops" because it's being received in Bitcoin and not necessarily being converted to fiat currency.

It may well be better for US affiliates who are having trouble with getting paid in fiat currency, but it would be better to offer it as an option rather than force it upon affiliates. They could even have Bitcoin as their "preferred method", and promote it to affiliates who contact them because they are having trouble with receiving their payments the usual way.

Many affiliates will have no experience of Bitcoin, and to them much of the news coverage has been negative, such as "Silk Road" and the "Dark web/criminal activity" angles.

We also have a thread here where US players are trying to use Bitcoin, but are running into all sorts of problems such as the casinos saying their Bitcoin code is invalid, but their Bitcoin wallet saying there is nothing wrong with it. They are also having problems with their chosen wallet, mostly about KYC, which shouldn't be an issue with Bitcoin proper.

As Bitcoin operates "outside the system", there is little or no redress if things go wrong.

This program could have handled it better, and could have provided detailed advice about Bitcoin, how it works, and how affiliates can prepare for it's use and convert their payments to fiat currency in a way that their banks will not make a fuss.
 
I'm not convinced. Bitcoin is just a currency, just dollars, Euros, or pounds. Betting Partners could have told me that going forward they're going to pay me in Euros, pounds, or yen instead of dollars, and it would have been the same thing. Like I said, my wallet provider (essentially a bank) converts the Bitcoin that BP pays me into dollars automatically. I never hold Bitcoin, I never have to deal with Bitcoin.

As for taxes, that argument just seems bizarre. If you're not hiding income, then you simply account for your income, no matter where it's held. That's pretty simple.

All in all, this really seems like a non-issue to me.
 
I'm not convinced. Bitcoin is just a currency, just dollars, Euros, or pounds. Betting Partners could have told me that going forward they're going to pay me in Euros, pounds, or yen instead of dollars, and it would have been the same thing. Like I said, my wallet provider (essentially a bank) converts the Bitcoin that BP pays me into dollars automatically. I never hold Bitcoin, I never have to deal with Bitcoin.

As for taxes, that argument just seems bizarre. If you're not hiding income, then you simply account for your income, no matter where it's held. That's pretty simple.

All in all, this really seems like a non-issue to me.

You seem very comfortable with Bitcoin, and you have also found a wallet solution that makes the conversion into Dollars seamless. However, if I was told I would have all my casino withdrawals paid in Euro, it would be an issue for me because I would be getting stung by conversion fees, rather than because the Euro was any less a currency than the Pound.

Other affiliates may never have touched Bitcoin, and with such short notice and no tuition being offered, just a "take it or leave it" approach, the fear of the unknown is going to be a big factor. The worry may well be that their money will be trapped in a currency that is useless for paying the bills in much of the real world, such as rent, utilities, etc.

In fact, one doesn't even need an external wallet, one can be set up on a flash drive, and with proper backup will be pretty secure.

The tax issue is about valuation, rather than declaring income. If it's held as Bitcoin, it's not something many tax offices are familiar with, and the problem may well be in declaring the equivalent value in the home currency. With currencies like Dollars and Euro, it's easier because the tax office can easily confirm the declared figures by looking at the currency exchanges.

What these affiliates really need is proper advice, otherwise they will have to walk away from the income they are getting from players they have already sent, even if they have decided to drop the program. US players may need to learn Bitcoin too, but the fact that many of the best casinos are reluctant to offer it even though there has been a major loss of options for withdrawals does little to enhance it's credibility as an alternative.
 
What these affiliates really need is proper advice, otherwise they will have to walk away from the income they are getting from players they have already sent, even if they have decided to drop the program. US players may need to learn Bitcoin too, but the fact that many of the best casinos are reluctant to offer it even though there has been a major loss of options for withdrawals does little to enhance it's credibility as an alternative.

Educating US players about bitcoin is a time sink, I agree. But a necessary evil in some markets, like mine, the offshore US-friendly poker market. We've created some walk-throughs for our clients and that has been helpful. Step by step all the way... so that it's virtually impossible to fail at setting up. It was time consuming, but worth it.

As for the best casinos not offering it, I can't speak for what you consider to be the best casinos. Online casino isn't our market. I can tell you that in our US poker market, all but one of the operators we work with have embraced bitcoin for deposits and withdrawals. And many of them are even beginning to actively push affiliates and players into btc. It's just so much cheaper for them, both in up front processing costs and in the fact that there is zero chance of chargebacks.
 

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