Anon
Years ago

Collecting Winnings- Online Betting Accounts

Hi All

Just a quick question.

I have been betting with Sportsbet for the past couple of years but today decided to open an account with TAB.

I inadvertently deposited $200 to open my account instead of the $100 I'd intended to. I tried to withdraw $100 straight away when I realised this. It wouldn't let me, claiming I had insufficient funds.

Can someone clarify- can only "winnings" be with drawn but *not* amounts deposited? Is that why I wasn't able to withdraw? For example if I bet $5 on T'Ville to win tonight for a return of $20(purely hypothetical!) I'd be able to withdraw 20 if I win(even though my balance would obviously be much higher).

Thanks

Topic #38200 | Report this topic

Hendo8888
Years ago

Did you open a new account and get some sort of sign up bonus? When I first signed up to Sportsbet, I think I got $2 for my every $1 for my initial deposit, but that money had to pass through the system before I could remove it (I had to make bets equal to $200 before that free $100 became officially mine). Not sure if this is what happened here?

Reply #555133 | Report this post

Anon
Years ago

With TAB you get a free $100 bonus bet. I have made that bet.

I was only trying to remove $100 of the $200 I had deposited from my own account. It wouldn't let me withdraw even $10...

Reply #555136 | Report this post

Kobe24
Years ago

Once you've deposited you usually need to bet with a percentage before they will let you withdraw. My advice bet on an absolute gimme, like $1.01 and then withdraw, they are ruthless with rules like that on all sports sites.

Reply #555142 | Report this post

Anonymous
Years ago

Be warned online betting agencies are pretty dodgy. Good rule of thumb is any money you deposit into your 'betting account' is gone just treat it like that.

They also make it very difficult to watch their live streams. You either have to have a minimum amount in your betting account or have recently placed a bet. I put $20 in placed a bet for $20 live streams worked but a couple of days later live streams no longer worked because I didn't have what they call a 'funded account' despite placing that $20 bet.

Had to jump through hoops just to get them to take my money too as I don't have a driver's licence or passport to upload had to find and a scan my birth certificate upload it to them and then waited nearly a week before I had a fully functional account, funny they didn't mind taking the $20 bet from me beforehand though.

I placed the bet assuming if I win when the time comes to pay up they'll probably come up with a reason why they can't pay it or can only pay a portion of it or something.

Reply #555146 | Report this post

Anonymous
Years ago

I tell you what went to deposit another $20 into the bet365 account but no live streams of NBL games available despite Kings/Crocs being live now so looked at the NBL's official gambling partner Ladbrokes.

Signed up but couldn't access live stream due to not having a funded account so put $20 in and it was a scam the stream wasn't a live stream at all but a graphic of a basketball court like a live play-by-play you see on live stats. So immediately tried to get my money refunded but now I need 2 of either driver's licence, passport or medicare card and only have the medicare card. I sent them an email asking for my money to be refunded as I never placed a bet.

You can't make this stuff up.

Reply #555167 | Report this post

shayno
Years ago

my understanding with betting online like sports bet you have to put thru what u bet.

for example if u deposit 200 u have to bet 200, u have to cycle the money thru the account beofre u can get it back.

getting the money out if u accidently deposited is a nightmare...had a friend put $1000 in instead of 100 ouch

Reply #555190 | Report this post

Beantown
Years ago

I ran into the same problem awhile back trying to withdraw my winnings from Centrebet after the Warriors won the title. They demanded I send them my passport or drivers license and other details online. It just seemed excessive to me, so I haven't claimed my winnings yet. Its still locked away earning money for them!

Does anyone know why they do this? Is it because they have to meet some regulations to thwart money laundering or something?

Its certainly put me off online betting. I haven't bothered to place a bet since.

Reply #555208 | Report this post

Anonymous
Years ago

"Does anyone know why they do this?"

In the hope you think it's too hard so they get to keep your money and the interest.

Imagine the amount of people they do this too it's pretty crook.

Reply #555212 | Report this post

Isaac
Years ago

Should be laws against it.

I'm in the same situation as a couple of you. Centrebet is my main option (year after year with NBL) but I have several hundred with Sportsbet after winning on a Cairns-NZ finals game the other year. Trivial to deposit the money, but withdrawing requires a signature from a JP. It's insane.

Reply #555215 | Report this post

Anon
Years ago

Thanks for the comments. This is all very interesting.

I haven't had any issues withdrawing money from Sportsbet.

Reply #555253 | Report this post

Anonymous
Years ago

"I don't have a driver's licence or passport to upload"

WTF? How do you ID yourself?

Reply #555262 | Report this post

Hoops

Collecting Winnings- Online Betting Accounts

Recent Posts