Bet365 Removes Cash Out Feature for US Sports Bettors?
We've heard of limiting players - that's pretty common practice among the US regulated sportsbooks - but cutting off the cash out feature?
That's what one gambler recently encountered at bet365.
He posted the following message from that company on his Twitter feed.
"Following a review of your account by our trading team, we regret to inform you that whilst our online service remains for you, wagering restrictions will be applied on any future bets placed and the Cash Out feature is no longer available to you.
"Should you wish to continue to use our services, you will no longer be eligible for selected Sports offers and promotions.
"This does not affect any bets you have already placed in accordance with any offers.
"You can view a full list of your available Sports offers by logging in and selecting Offers or Promotions.
"Kind regards,
"The bet365 Team"
Why would a book limit the cash out feature?
— Alex Kane (@a_kane47) August 30, 2023
As is the issue with soft books, sports betting is designed as a carnival game.
If the book isn't beating every player: *something must be wrong -> remove player*.
I think the industry has enough of the "carnival operators" as is. https://t.co/KeLBPzl8h7
Sports handicapper Jokeeeee_, who tweeted the message, writes: "This shit should be illegal If I was getting smacked they would be sending me promos and deposit bonuses."
He has over 92,000 followers and is based out of New Jersey, a state which is highly regulated when it comes to sports betting.
His new limits appear below. 64 cents to win $5.12?
Humble Beast jokingly celebrated the move: "@Jokeeee_ has now been inducted into the BET365 ban list I hate that for us but you know we gon figure it out lmao."
Jose Ramon tweeted: "Simply put, the incentive architecture behind the soft model sucks and is fraudulently and deceptively structured to induce selective risk-taking behaviour."
SNicholas408 tweeted: "It should be illegal.. so when you win they limit or make it so that you can't enjoy it and basically want ppl to stay losing."
Jokeeeee_ isn't alone.
ryanpropz tweeted in response:
"Got the same message two weeks back. Shameful."
And it's not just players.
Affiliates are now being cut off at various sportsbooks in certain states, as reported by our friend Michael Murphy of BettingUSA.
I do not understand the current trend of sports betting operators shutting off affiliate programs in certain states, especially when some affiliates are on rev share.
— MichaelJMurphy (@MichaelJMurphy) August 30, 2023
Surely there is a value worth paying for new depositing customers that is more than zero.
- Gilbert Horowitz, Gambling911.com
