Quote from: Bitcoin Betting Guide on May 02, 2015, 09:04:06 AM

Here it is

http://bitcoin-betting-guide.com/bitcoin-sportsbook-reviews/directbet-review/

Please tell me if I have made any mistakes or what you agree and disagree with

Thanks for the review. Some comments below :

1) It's true that we did have an issue with the odds of some of the bets during the past few days, but it has now been fixed. This is not the way it used to be in the past. Please take another look now at our odds.

2) If you bet frequently at DirectBet you receive a rebate of at least 0.4% and up to 1% of your bet stakes through our VIP Rewards program. The figure in your review is not accurate.

3) I see that you are promoting our competitors in our review, for the reason that it is safe to deposit coins to them.

To date, there hasn't been a single cryptocurrency sportsbook that ceased operation gracefully and honored all withdrawal requests.

If you have been here long enough, you might recall Bitbook was once considered the most trusted Bitcoin Sportsbook, it was their slogan and they never failed to pay a winning bet. Yet one day they too disappeared without paying all their customers.

If security is your concern, for rating purposes, you should dig deeper into what is done to protect users funds.

For your Bitcoins to be safe in a sportsbook account, the sportsbook needs to store all user-owned Bitcoins (deposits and winnings) in a separate account from the account used to pay for their daily operations, in a similar way that Poker Stars is doing for its Poker players. In addition, it needs to make sure that there is always more than enough funds in the segregated account to cover all user balances in the event that everyone will want to withdrawal their entire balances at the same time.

Furthermore, they need to prove that they control the Bitcoins in the segregated account, and allow an independent 3rd party to audit it at any time.

Finally, they need to demonstrate that access to the cold storage of Bitcoins is not limited to one or two persons, otherwise, in the unfortunate event that something terrible happens to them, the Bitcoins will be gone. For this reason, the sportsbooks need to provide a 3rd independent and trusted escrow service with an access to the segregated Bitcoins that are used to cover user balances, and an authorization to distribute them to their owners in unfortunate circumstances.

To the best of my knowledge, none of the Bitcoin sportsbooks follow this practice or a similar one, and therefore your Bitcoins are not safe in any of them, regardless of how long they are in business.

Stating that they have the Bitcoins in a cold storage is meaningless. They need to prove it, they need to allow an independent 3rd party to audit it at any time, and they need to show how you will get your Bitcoins in the unfortunate event that the people in control of it die.

Recently, there have been many Bitcoin sportsbooks that disappeared with all user balances. Unfortunately, as history has learned us, this will continue as long as there is no true protection to the players, similar to the one provided by Poker Stars in the poker industry.

DirectBet is the safest place to bet for the simple reason that we do not take deposits and keep hold of your valuable coins, except during the lifetime of the bet and only the amount that you elected to bet. This period of time is kept to the minimum thanks to the fact that we settle all bets within an hour.