Rating Change: Nitrobetting Downgraded to B-

[BMR Forum]

Nitrobetting has addressed the recent slow-pay complaints reported by BMR members.

It seems their decision to offer reduced lines plus bonuses led to what they label as non-recreational activity and they've decided to audit players payout requests one by one before processing payouts. Their own risk management/business decisions is not reason to delay players' payouts for weeks on end, so their rating has been lowered to B-. They also cited alleged multi-accounting, though part of their selling point to users is the lack of conducted KYC and account anonymity, so they can't have it both ways.

Anyone who hasn't already done so can submit a sportsbook complaint so that we can add your complaint to our list. Their rating may be lowered further should all accounts not be paid in full shortly.

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First and foremost, we want to emphasize that honoring our customers' winnings is our top priority, and we remain fully committed to doing so. Nitrobetting.eu has no financial issues, and our decision to formally answer your inquiry is based on our relationship with BMR and our belief that it is necessary to clarify any doubts. Due to recent events, we have conducted a thorough audit of several accounts. This process began with the recent increase in Bitcoin's value, which led not only to a surge in payout requests but also to a significant number of customers attempting to use their Nitrobetting accounts as banking wallets without actively participating in wagering activities.

In addition, back in December, we introduced a series of cash bonuses that were well received by our customers. However, we did not anticipate the level of bonus abuse that followed, prompting us to take further action. We have continued to process payouts for all recreational customers without issue. However, a segment of customers has been found to exploit our Reduced Juice lines, which are part of our rewards program. These customers are undergoing an in-depth investigation, as our audit has revealed that

: • There are customers with 80% of their winnings originated from Reduced Juice abuse
. • Some users have engaged in multi-accounting to exploit promotions unfairly.

 

[btcfan]

Thanks for the update. Still a big stay away for me.

I don't ever like hearing "exploit" our reduced juice lines. Purely in their opinion? Play at b105 or BettorsDen where they don't choose if they think you are too sharp for them. Don't offer reduced juice if you don't want sharp action. You will get some by its very nature. Not an excuse. If they made a mistake in their structure, payout and modify the structure.

Basically paying out lifetime losing accounts. If you are a winning account lifetime, I hope you get through this "investigation".

 

[JDS]

Commendable good job BMR with this update

 

[megladon]

I never hit reduced lines , never took bonuses and they delayed my payment 25 days.

still, to be fair, I did eventually get paid. It just took 25 days.

 

[btcfan]

I never hit reduced lines , never took bonuses and they delayed my payment 25 days.

still, to be fair, I did eventually get paid. It just took 25 days.

I appreciate the downgrade from BMR...at least considering what is going on and adjusting their rating. Could be a further downgrade coming. Nice to start seeing some updates to reviews. We need more of those honestly. (i.e. Everygame and Bookmaker being rated the same? Not even close)

I personally find it hard to see a B- rating when a book makes an excuse basically trying to decide after the fact if they want to pay specific players. Laziness shouldn't be rewarded. Instead of actively managing their portfolio, just shut payouts down and decide who they want to pay or not pay. That isn't a B- book at least in my opinion. Still a "stay far away" shop. Can't trust that...ranks right up there with voiding bets days later.

 

[btcfan]

Another quote that doesn't hold water with Nitro...

This process began with the recent increase in Bitcoin's value, which led not only to a surge in payout requests but also to a significant number of customers attempting to use their Nitrobetting accounts as banking wallets without actively participating in wagering activities.

If they truly are running the shop correctly, BTC value shouldn't matter to them. I get the potentially issue of banking wallets and holding crypto there, but most books require a 1x roll on any deposit, which Nitro should do. As far as value of BTC going up, unless they are speculating in currency (road to ruins IMO), they should be holding player funds as BTC (and reserves as BTC) where the value of BTC doesn't matter to them, outside of when they cash out their profits above their reserves to whatever fiat currency they use.

Again, just for the sake of argument, if every player just used Nitro as a crypto wallet, the only cost to Nitro would be network fees for player redemption, which players now pay for (I assume they still charge?) if Nitro just held deposits as BTC. BTC does up or down vs USD, shouldn't matter to Nitro if they are holding player funds properly. Raises an entire other set of concerns.

 

[mrmcnasty]

I appreciate the downgrade from BMR...at least considering what is going on and adjusting their rating. Could be a further downgrade coming. Nice to start seeing some updates to reviews. We need more of those honestly. (i.e. Everygame and Bookmaker being rated the same? Not even close)

I personally find it hard to see a B- rating when a book makes an excuse basically trying to decide after the fact if they want to pay specific players. Laziness shouldn't be rewarded. Instead of actively managing their portfolio, just shut payouts down and decide who they want to pay or not pay. That isn't a B- book at least in my opinion. Still a "stay far away" shop. Can't trust that...ranks right up there with voiding bets days later.

I hate to pivot the thread into another shop but what’s the complaint against Bookmaker?

I’ve reached diamond tier and get 20% cash on all deposits w a pretty low rollover. They also pay me out faster than any site I’ve seen and all the way up to 25k. Most payouts have taken less than 30min.

Honestly if I was to make a list they would probably be at the top of it

 

[sportsbettor5]

Another quote that doesn't hold water with Nitro...

This process began with the recent increase in Bitcoin's value, which led not only to a surge in payout requests but also to a significant number of customers attempting to use their Nitrobetting accounts as banking wallets without actively participating in wagering activities.

If they truly are running the shop correctly, BTC value shouldn't matter to them. I get the potentially issue of banking wallets and holding crypto there, but most books require a 1x roll on any deposit, which Nitro should do. As far as value of BTC going up, unless they are speculating in currency (road to ruins IMO), they should be holding player funds as BTC (and reserves as BTC) where the value of BTC doesn't matter to them, outside of when they cash out their profits above their reserves to whatever fiat currency they use.

Again, just for the sake of argument, if every player just used Nitro as a crypto wallet, the only cost to Nitro would be network fees for player redemption, which players now pay for (I assume they still charge?) if Nitro just held deposits as BTC. BTC does up or down vs USD, shouldn't matter to Nitro if they are holding player funds properly. Raises an entire other set of concerns.

Correct

 

[JDS]

I hate to pivot the thread into another shop but what’s the complaint against Bookmaker?

I’ve reached diamond tier and get 20% cash on all deposits w a pretty low rollover. They also pay me out faster than any site I’ve seen and all the way up to 25k. Most payouts have taken less than 30min.

Honestly if I was to make a list they would probably be at the top of it

He didn’t say anything negative in that post about Bookmaker ?

 

[mrmcnasty]

He didn’t say anything negative in that post about Bookmaker ?

O I definitely misread that the first time. That’s my bad. Fully agree now reading back.. everygame don’t deserve to be anywhere near BM

 

[caramba]

Think he was saying something negative about Everygame and that they shouldn't have the same rating as Bookmaker (which they actually don't EG is A, BM is A+).
Edit: Already pointed out by others. My page hasn't updated.

 

[btcfan]

Think he was saying something negative about Everygame and that they shouldn't have the same rating as Bookmaker (which they actually don't EG is A, BM is A+).
Edit: Already pointed out by others. My page hasn't updated.

I see the A+ vs A. I just noticed on the top of this page (and any page in this forum) they have EG and Bookmaker both at 9.5 out of 10. Must have updated the main page but not the "sub" pages...

 

[caramba]

Oh I see. That is odd. I agree with you, those two should not be the same or even that close.

 

[rolandcorts]

Translation: nitrobetting hasn't paid their BMR advertisement fee in a while lol

 

[canuckg]

Criminal that mybookie and everygame have an A rating. They must pay well.

 

[fishhead]

Only a downgrade from B to B- on a numerous large number of slow/no pays??

 

[fishhead]

The ratings here are complete HORSESHIT

 

[mrmcnasty]

Criminal that mybookie and everygame have an A rating. They must pay well.

I’ve had more than a few bad reviews of MyBookie and their sister sites disappear. I directly know of someone they took 8k from and I’ve personally had issues with all 3 Xbet, MyBookie and BUSR before I knew they were affiliated