Bitcoin Deposit with 5 Dimes

[Mikeyboi]

Hi everyone, I hope you all having a great weekend so far.

Myself... I am in the midst of a very bad gambling year, my worse yet in fact... Just now I lost a big bet on Port, thinking they beat Memphis in this must win game...

Anyhow to my point, with all the bad going on I got just ONE good thing going, that is before Cleveland signed LBJ, I took them to win the champ at +3500 for 500, I also took them to win teh East at +1200 for 500.

Currently I am sitting at a good position to hedge back some of my lost as I see at 5 Dimes as of last night the odd was +195 for them NOT to win teh East... Therefore my thoughts are, I am thinking of depositing 5000 at 5 dimes and bet on teh NO which should return me almost 10k profit... now should this lost, I still be up One K from my East bet and be given another chance to hedge in teh Final.

My main questions are:

1) I was told to dep an amount this size I need to use Bitcoin. Have anyone tried this method? I was told by their CSR that when I want to cash out, I MUST use the same method to cash out... My fear is what if when I cash out the Bitcoin drops like crazy and I see my profit all gone with their exchange rate? Am I able to use a different cashout method if I see the Bitcoin rate drop to a very new low?

2) Will 5 Dimes be ok with me in a way hit and run with this bet if it wins? Meaning will they be ok with me making a deposit like this, make one big bet, and if it hits cash out... Will they give me problems? Anyone have any success cashing out 10+K?

I hope I can get some help from thsi great place... thanks in advance.

 

[Mobdeeper7239]

I would make a regular deposit for $500 and bet the NO. If anything. Who in the East is going to beat Lebron? 4 years running now... you are in a pretty rare spot. I wouldn't make that 5k deposit imo.

 

[Recon792]

I agree with Mob

 

[pocketrockets]

I would make a regular deposit for $500 and bet the NO. If anything. Who in the East is going to beat Lebron? 4 years running now... you are in a pretty rare spot. I wouldn't make that 5k deposit imo.

+1

 

[Mikeyboi]

Thanks for your respond guys... Well what I feared finally happened yesterday with an overdue injury happening to one of the Cav's top 3... I may be bias with my bet on the Cavs but that Kelly Bieatch did it intentionally, and who better to do a biatch move then a guy with a dumb headband with long hear and have the frame of a ugly shemale?

Anyhow to the main point, I had always been afraid of Cle facing chi in the next round and it really looks like it is going to happen, Chi has a great shot to beat them, and now with Love out it looks even more like it coulsd happen... What you guys suggest? Odds for No has already dropped to +155 for Cle to NOT win the East.

 

[Mobdeeper7239]

Your odds for NO are going to continue to go up as long aa they keep winning.

With a future prop a chance of an injury is part of the wager. Gl

 

[buddyboy]

currency fluctuation should not be a concern

if bitcoin goes down in value you'll just get more bitcoins, if it goes up you'll get less.

say you buy 100 bitcoin for $5000, give that bitcoin to 5Dimes... make your wagers in USD. you win your wagers and now have $10,000. bitcoin goes down in value, so now you have 5Dimes buy you 100 bitcoins for $10,000... you cash out 100 bitcoins for $10,000

as long as you don't leave your deposit or winnings in bitcoin, fluctuation in value has no bearing.

 

[Mikeyboi]

Thanks Mob I know it will go up as long as they keep winning, but what concerns me here is with the number of issues Cavs have all a sudden thanks to that loser who pulled Love's arm... as well as JR surely suspended two games or so, do you guys think Cavs keep winning? I don't know why I was hoping Rose would call it a year when he had that surgery, I know it's wrong but for the sake of my bet... With him return I keep gettting this feeling he is saving his best for the Cavs... I really wanted to avoid Chi but most likely that will be the matchup... I just do'nt know if I should buy out now while the series haven't started yet or wait... Initially I was hoping Cavs take two at home with a full roster and see how it goes but now it worries me they m ay lose one at home without the service of JR and Love...

Buddyboy thanks for your respond, because I'm new at Bitcoin it actually makes sense... Can you or anyone recommend a good place to buy it for CDN?

 

[he_dblhockeystx]

currency fluctuation should not be a concern
if bitcoin goes down in value you'll just get more bitcoins, if it goes up you'll get less.

 

[ChuckBooms]

currency fluctuation should not be a concern

if bitcoin goes down in value you'll just get more bitcoins, if it goes up you'll get less.

say you buy 100 bitcoin for $5000, give that bitcoin to 5Dimes... make your wagers in USD. you win your wagers and now have $10,000. bitcoin goes down in value, so now you have 5Dimes buy you 100 bitcoins for $10,000... you cash out 100 bitcoins for $10,000

as long as you don't leave your deposit or winnings in bitcoin, fluctuation in value has no bearing.

Well stated.

 

[HarryCaray]

currency fluctuation should not be a concern

if bitcoin goes down in value you'll just get more bitcoins, if it goes up you'll get less.

say you buy 100 bitcoin for $5000, give that bitcoin to 5Dimes... make your wagers in USD. you win your wagers and now have $10,000. bitcoin goes down in value, so now you have 5Dimes buy you 100 bitcoins for $10,000... you cash out 100 bitcoins for $10,000

as long as you don't leave your deposit or winnings in bitcoin, fluctuation in value has no bearing.

You stated it wrong. In your example Bitcoin would have gone up in value (if the same 100 he deposited for 5k was now worth 10k).

Let's say BTC is at $50 now (for simplicity). You buy 100 for 5k, deposit it. They instantly convert your deposit to USD. Then you win the bet, and your USD value is 10k. If you go to w/d it and BTC has gone down to 25, 5dimes would give you 400 BTC. If it has gone up to $100 they would give you 100 BTC.

Then you instantly convert that back to cash.

But your point is accurate. The fluctuation has no bearing here.