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Wizard
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Wizard
Joined: Oct 14, 2009
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jobaba
September 14th, 2020 at 11:32:16 AM permalink
This morning I fortunately logged into my 5Dimes account to check the current election odds. I was very surprised to be met with this announcement that they are ceasing service to US players and they should take action to withdraw their funds by September 25. I didn't copy and paste the exact wording, but here is what they say in their FAQ:

Quote: 5Dimes


Q. If I am an existing customer with a balance, can I continue playing even though you no longer accept U.S. customers?

A. We are only suspending service to customers located in the United States. If you are located in the United States and have not withdrawn your balance before September 25th, your funds will be transferred to a claims administrator who will attempt to return your balance to you. If you are located outside the United States, we will continue to offer our services.

Q. If I continue to play and win, is there a time limit to withdraw my funds?

A. Yes, you must withdraw your funds before September 25th or your balance will be transferred to a claims administrator.

Q. What will happen to my funds if I do not withdraw them in the specified period?

A. The remaining balance will be transferred to the claims administrator who will exercise its best efforts to return your money to you.



Source: https://www.5dimes.eu/action-required-FAQs.html

I should add that I had over $8,200 in bets on the election. The vast majority, all but about $100, were cancelled and the bet amounts transferred back to my account.

I had a particular candidate (I won't say who out of respect of the forum rule to not discuss politics) at odds everywhere from about -160 to +160. Overall, they averaged to about even money, which is where the odds are about today.

I immediately put in a Bitcoin withdrawal, which they say will take up to four days to process.

My message to US players at 5Dimes -- Get your money out now!

I will hopefully have a lot of Bitcoin soon, if any trusted forum members want to buy.
It's not whether you win or lose; it's whether or not you had a good bet.
SOOPOO
SOOPOO
Joined: Aug 8, 2010
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September 14th, 2020 at 11:58:48 AM permalink
Mike..... let's say you had a futures bet on the Nuggets at 100-1. They are probably about 10-1 now. Will they just refund your bet amount?

Let's say you had a futures bet on the Bucks. It is worth zero. But since the NBA will not have declared a champion by September 25, will they refund the bet?
sabre
sabre 
Joined: Aug 16, 2010
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kuma
September 14th, 2020 at 12:23:52 PM permalink
5dimes has clearly stated that futures that lost already won't be refunded. I.e. 76ers to win championship

Futures that are still in play have stake refunded.

Yes, they're stealing
SOOPOO
SOOPOO
Joined: Aug 8, 2010
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September 14th, 2020 at 1:33:56 PM permalink
Quote: sabre

5dimes has clearly stated that futures that lost already won't be refunded. I.e. 76ers to win championship

Futures that are still in play have stake refunded.

Yes, they're stealing



If this is true I hope (expect?) Wizard to identify 5Dimes as a rogue casino! And LCB as well?

They are collecting on losing bets but won't pay out on a winning bet!!!???!!!
Wizard
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Wizard
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September 14th, 2020 at 1:46:48 PM permalink
Quote: SOOPOO

Mike..... let's say you had a futures bet on the Nuggets at 100-1. They are probably about 10-1 now. Will they just refund your bet amount?



It would seem that way. That's similar to the bets I had on ##### that paid +160, when I can only get about even money now. In their defense, they also refunded my bets on ##### before the CV where I laid -160.

Quote:

Let's say you had a futures bet on the Bucks. It is worth zero. But since the NBA will not have declared a champion by September 25, will they refund the bet?



I think once a bet has no hope, they consider it resolved as a loss. In other words, it gets filed from "pending" to "archived."
It's not whether you win or lose; it's whether or not you had a good bet.
Wizard
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Wizard
Joined: Oct 14, 2009
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September 14th, 2020 at 6:52:11 PM permalink
Quote: sabre

5dimes has clearly stated that futures that lost already won't be refunded. I.e. 76ers to win championship

Futures that are still in play have stake refunded.

Yes, they're stealing



Here is what they say in their FAQ:

Quote: 5dimes


Q. I have an open bet that will not be settled until after September 25th, is it possible to get a refund on that wager?

A. Yes, refunds will be available.



That seems to imply that refunds are optional. In my case, they were forced.

I think the fair thing to do would be to have all existing wagers stand and let players withdraw them if and after they win.
It's not whether you win or lose; it's whether or not you had a good bet.
SOOPOO
SOOPOO
Joined: Aug 8, 2010
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Thanks for this post from:
kuma
September 14th, 2020 at 7:25:17 PM permalink
Quote: Wizard



I think the fair thing to do would be to have all existing wagers stand and let players withdraw them if and after they win.



Of course. You avoided my question. If they donít, would you consider them a rogue casino? I would. They accepted a bet with defined odds and a defined payout. To unilaterally cancel the bet is totally unethical.
Wizard
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Wizard
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September 14th, 2020 at 9:16:42 PM permalink
Quote: SOOPOO

Of course. You avoided my question. If they donít, would you consider them a rogue casino? I would. They accepted a bet with defined odds and a defined payout. To unilaterally cancel the bet is totally unethical.



Let's just say the matter is under consideration by the powers that be.
It's not whether you win or lose; it's whether or not you had a good bet.
kuma
kuma
Joined: Feb 10, 2018
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September 14th, 2020 at 11:28:08 PM permalink
They have been VERY clear. All futures, no matter how much positive equity you have in them, are being voided. Nothing is standing to settlement beyond 9/25. There is no more blatant thievery than this.
ChumpChange
ChumpChange
Joined: Jun 15, 2018
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September 15th, 2020 at 1:39:57 AM permalink
What if Wall Street said you have to sell all your holdings within 10 days because of TikTok?

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