Best would be for you to open an account, deposit some small amount (like 100) and test it for yourself. From what I see, all the charges are incorporated in the odds themselves, so you would deposit 100 and gamble with it and your balance would be reflective of the stake x odds, like on any other bookmaker, nobody would come around and additionally take any funds after the bet is settled.
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I used VOdds for a little while. Weird experience there; they approved my KYC documents despite being from U.S. and then a few weeks later, they let me know they had to shut down my account because I was a U.S. citizen. They were nice about it and of course paid me out, but just thought it was weird. I guess they automatically approve everything, but something caused my account to be looked at again and they couldn't turn a blind eye.
But back to the main point of this thread. If you were placing a bet through Betfair or other exchanges that have commissions, they would bake the fees in with the odds. They are not very high though. For Pinnacle, Singbet, etc. I think they get paid by the book and do not charge commissions. Maybe I am naïve, but I am pretty sure the books do this because their tighter odds require high volumes, so they value betting brokers bringing in more volume. I could be wrong and I only have experience with the one broker.Comment -
Contrary to appearances, 3% of the commision fee is not much.
Brokers offer the main betting exchange Betfair through e.g. Orbitxch, which charges its customers the following fees:
In general, brokers charge their clients fixed, lower fees of 3-4% on each win in each market.
In addition, citizens of some countries banned by Betfair have to somehow use Orbitxch/Winfair/Piwi, just through brokers, if they want to place bets through the exchange.
Is it clear now?Last edited by kursonik; 02-22-23, 07:53 PM.Comment -
Thank you kursonik. I wondered where Ferrari was getting this 3-4% number, but it makes sense that those are the fees for Betfair and its clones.
And those fees have no bearing on using a broker to bet at Pinnacle.Comment -
What the hell is a broker?Comment -
Kursonik is the one that told me lol about the 3-4%. So we aren’t comparing apples with apples? Is betfair more of an exchange like matchbook taking 3-4% of the amount their two members agreed to? Yes I believe they charge 3-4% for doing that but that doesn’t apply to what I want to do. I just want to be able to bet directly at Pinnacle but funding my account with a few hundred thousand is not looking good/may never happen. I’ve been emailing Pinnacle back and forth for almost two months now and they get back to me super fast but just don’t care at all to help me get a larger than their normal money deposited. They really screwed me switching my account to a legal Ontario one. FML.
That being said if I’ve exhausted all my options with Pinnacle with zero luck I will have to bet through and agent. Can someone please let me know how much they typically charge and provide an actual example. Appreciate all your help guys I really do.Last edited by Ferrari355; 02-23-23, 03:31 AM.Comment -
If you have "few hundred thousand" then depositing 100 of those wouldn't be a problem so you can test the platform(s) yourself.Comment -
Most withdrawals are now just $5 CAD for Ontario players
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Have you considered reading a few brokers websites so you know for yourself what their fees are?
I know I would if I was trying to deposit 6 figures at some third party where people keep telling you that you will get your money stolen via fake bets or commission will be raised to the point they are un-usable if you win.
Who would care so little about their money... got to wonder. And I am sure Pinny are wondering (know) about that too..Comment -
Just a guess, but Ontario rules probably prohibit books forcing people to bet more than they otherwise would by using a rollover condition..Comment -
So you joined as a member? Can you list all the fees here please?Comment -
I am really surprised that you are surprised that brokers charge 3-4% commission on the winning part of bets on exchanges like Orbitxch/Piwi. After all, Betfair, whose betting exchanges are a clone, charges even more (I gave you the link).
You really don't know how it works?
1. You register on the broker's website.
2. You pay e.g. 200 Euro.
3. Your balance with the broker is currently 200 Euro.
4. You request an Orbitx or Piwi or Winfair24 account (with broker of course).
5. The broker creates an Orbitxch account for you.
6. On the broker's website, you transfer from the broker's balance to your Orbitxch account or the broker does it for you.
7. Your broker account balance is currently 0 Euros.
8. Your Orbitxch account balance is currently 200 Euros.
9. You place a bet on the BACK side for 200 Euro at the odds of 1.20.
10. You win this bet.
11. Orbitxch settles this bet and your balance is €240.
12. At the same time, commission is charged 3% of the winning part of the bet (or other % depending on the broker) - 0.03 x 40 Euro = 1.20 Euro.
13. Your current balance is 240 Euro - 1.20 Euro = 238.80 Euro.
14. You are ready for another bet.
There are many nuances like liquidity with individual brokers, risk with individual brokers, but first I suggest you understand the basics.Comment -
I never looked at that page since they started operations in Ontario. I was getting hit wiith $18/withdraw after the one free per month.Most withdrawals are now just $5 CAD for Ontario players
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@Ferrari...Agree with kursonik's steps for what it's like to use a broker to make exchange bets.
To make Pinnacle bets you make them exactly the same way you do if you were betting with Pinnacle itself. No fees on bets. Fees vary on withdrawals, but anyplace I ever played you got at least one free one a month.
Just be sure you're willing to meet their KYC requirements which will come up, especially if you're a winning player.
I think Optional's point is that these places have chat support, and they might start to seem more real to you if you took your questions to them. It would give you a sense of whether they communicate clearly enough with you that you can be comfortable with them.
I'd start with PIWI247. They are at least upfront and clear about what's involved in getting verified. (FAQ) And if I understand you all you really want is a Pinnacle account.Comment -
I see a lot of people complain, but personally I never had a problem using bet-ibc, you just need to pay attention to the terms to avoid being caught by surprise by the fees. Then again I hear people complain and praise almost every broker out there. Anyway, the guy above is right, meet with them on chat, ask your questions, and when you find one you think is good, do some research and give it a go.Comment -
@Ferrari355
Never use Bet-IBC ever. Just two threads that should keep you away.
Stealing 7k: Bet-Ibc is a scam, don't use (7000€ for PS3838) | Arbusers
Charging 23% on a high 4 figures deposit: BET IBC BROKER - problem resolved (sportsbookreview.com)Comment -
any of named brokers have a good Skype betting service?
I tried BetinAsia one and was ridicoulous, left immediatelyComment -
Betting broker?
What are we living back in the 90's when a betting broker was really called a bookie that you call on the phone and place your bets?Comment -
Grandpa, you left your checkers board behind, don't forget it!Comment -
Life is short gotta bust out!
Turn me loose! Never to old to not fold!!
Last edited by JIBBBY; 02-27-23, 12:55 AM.Comment -
What about Betinasia?Comment -
This agent? https://www.sportsbookreview.com/for...7000-lost.html
With loads of complaints about having fake losing best placed in their account?
The Betinasia who blows people off and accuses them of lying about placing the fake cricket bets?
The same scammy operator who works in concert with orbitX to refuse any help or information the victim could use to chase down who the thief really is?
What about them?.Comment -
Many of these gray market agents can no longer be trusted to hold significant money as their industry is squeezed and declining profit wise.
Don't be sucked in thinking that some older customers being treated ok means it is safe for you to deposit big amounts as a new customer..Comment -
thread should be locked before some sucker parts with his moneyComment -
Anyone here have a Canadian Pinnacle account?
Hi Everyone,
Does anyone here have a Pinnacle account in Canada but not in Ontario? Please let me know.
Thanks in advance!!Comment -
yes, someone here does.
(not me, I'm in Ontario)Comment -
Me too. Anyone here have one NOT from Ontario? Lol
Icon, how can I PM you?Comment -
Ontario Pinnacle Account
Hi Everyone,
For anyone that has an Ontario Pinnacle account I have two questions:
When they switched your account did your deposit limits/options change?
What are your deposit limits now?
Thanks in advance!!Comment -
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had a bad experience with them, although I read good feedbacks on them before.
I tried them for Skype betting service and was a shame. Everytime they hadn't "resouces available" (don't know what does it mean), they couldn't place on a market, "outlet went offline already", "unfortunately there is a problem with Sing resource", etc.
All in all, I tried to place 5-6 bets via Skype service and they were able to place 0. Really bad. Don't know what you need but if you look for a Skype service that's the worst I ever triedComment -
If you want to use Mollybet tool, Sportmarket is way to go.Comment
