Yeah, it happens to some people. They're just asking standard KYC/AML questions. Asking your profession is to demonstrate that the money you have to buy bitcoin with was made legally. Pretty much just don't answer "drug dealer" or "terrorist" or anything like that.

Yes, you could do that to break the link to Bovada... but I don't know that you need to.

If you did you'd still want to use your own wallet like a Blockchain wallet in between. So it would be like:

Circle -> Blockchain -> BTC-e -> Blockchain -> Bovada

It's a little extra work, but if you want to do it you can.

I still haven't heard of anyone having their exchange account closed for gambling that has only played on Bovada (and SwC). The times I've seen accounts closed for gambling the person has also played at other rooms or casinos.

If things change and it appears necessary to do more to protect your exchange from being closed I'll update my recommendation and help people thru it.

Yeah, some Bitcoin ATM's can be pretty expensive. I wouldn't use that as a first option, save that as a last resort.

Every case I've seen where someone had their account closed for suspected gambling they were allowed to withdraw their funds. I'm not sure if they'd even be able to confiscate your money legally... unless it were law enforcement making them do it.

They just choose to close your account and refuse your business in the future.

anyone still using bank wires?

if so how long has it been taking? thanks

I requested one on 6/16, supposed to take up to 48 hours to review. On 6/20 got an email saying I had insufficient funds. My account had been hacked two hours before it was reviewed for cash out. $3k gone. I'm done with Bovada and online poker until it's regulated in the US.

If my friend owes me money can he send money from his bovada account to my Bitcoin wallet? Or will the transaction fail since his name is different than the name attached to the Bitcoin wallet?

Thanks

I believe the answer is yes, but it would probably be safer for him to go from bovada --> his wallet --> your wallet and it would only take minimal work.

Just got back on after not having played for a few months... whats the ETA for checks? <1 month?

I wanted to thank EndtheFed for your help.

the bitcoin depositing/withdraw videos were extremely helpful.

I requested my first BTC withdraw yesterday and it was approved today. very easy.

Can you elaborate on this please, Skyy? Did they tell you in email that your account was hacked and oops you're just sol? How did they relay that information?

I have withdrew multiple times in the past two months, and have not waited more than 5 days for each request, the btc process has been effortless thnx to those vids by endthefed, most recent was request on the 15th of july and funds are available in account today

4k btn withdrawal

req: 7/18
rec: 7/19

ez game

Req: 7/18
Rec: 7/19 < 24 hours

Very, very cool .. and a bonus on the deposit when I made it last week.

btc
req: 7/18
rec: 7/19

btc requested this morning.

Approved this evening.

Money in wallet.

Boooom.

For those that have recently withdrawn btc - how long has it taken to arrive in your wallet after Bovada's "approval" email?

The reason I ask is because:

Requested - 7/18 11pm PDT
Approval Email - 7/19 5pm PDT

Is there any hope of this not being reversed at this point?

In my experience so far, it either comes within 30 mins or takes like 8 days for Bovada to settle it and return the money to my poker account. Just looking to learn about others' experiences.

I'm just counting down the 6 hours until I can email them my fancy screenshot of my wallet....(which I don't understand, it proves nothing, are they just buying themselves time?)

So what did you guys say to Coinbase when they asked for your profession/documentation/reason for high transaction volume?

I tell them that it's none of their business and that if they keep asking stupid questions then they'll be hearing from my lawyer.


(I'd actually be interested to hear what other ppl say as well)

Sorry for the noob question but does bo hold your balance in bitcoins or cash I'm just wondering what the risk would be if Bitcoin were to decrease in price if that will affect your bo balance. Also am I correct in assuming when processing a cashout you get the exchange rate for that day so you will always get even money when cashing out minus a 3rd party coin exchange correct?

Hey guys I have a quick question

I req a check by courier 07/20/2016
It got approved 07/20/2016

But when does the $1500 I req get taken out of my
Bovada acc? It still shows that I have $1500 to play with
Any replys appreciated thanks!

It should come out of your account as soon as it is processed.

That seems like a pretty terrible response. It is well within their rights to ask you where your funds are from. Of course you can decline to say, and they can close your account. What exactly could your lawyer do?

How long does it usually take to process?

You could tell them that. They aren't the government and you're not required to answer. But if you did they would almost surely refuse your business and close your account.

It sucks, but they have to ask those questions to comply with KYC/AML rules. If they didn't they would risk being shut down or going to prison. It has happened to other businesses selling bitcoin.

They have to ask to check that you aren't a drug dealer, money launderer, etc. If you were to later get arrested for that they can show the government that they tried to verify and had no knowledge of your illegal activity.

They ask about a high volume of transactions because they also don't want to deal with people acting as an unlicensed money transmitter... like someone buying bitcoin from them and selling it to people in real life.

For someone that has a real job, you can just tell them what it is. If you don't have a job outside of poker you have to be creative. Like what you'd tell a bank about a check.

I'd say to try your best to answer their questions to their satisfaction. If that doesn't work then oh well, tell them you don't feel comfortable giving them more info because you value your privacy and start using a different exchange. Although you don't want to have your account closed it's not that bad because there are other options.


Bovada holds your balance in USD. You send them $100 worth of bitcoin and get $100 in your account like normal.

And yes, when you get a withdrawal they give you the exchange rate at the exact time they send you bitcoin. So you're only exposed to fluctuations for that brief time that it takes to get from your wallet to your exchange.

I assumed he was just being sarcastic?

Check:

req: July 5
app: July 5
rec: July 20

Gonna try bitcoin withdrawal... is there a post that summarizes how-to as I'm unfamiliar with bitcoin in general. thanks.

Lol sorry for the confusion, i was just joking with that response. I guess the sarcasm doesn't come through quite as much as i thought it did.