YOUBET AGAIN HAVING PROBLEMS PAYING CUSTOMERS

[docicu3]

Unfortunately this has happened to me several times over the years with YOUBET but this is the third time in a month the ADW giant has had difficulties with overnight withdrawals. Requests for monies from the weekend are still not delivered this week again.

Overnight delivery is paid for by the player nonetheless YOUBET seems to be delaying payouts requested again as a number of us have experienced in years past.

If you are using other ADW vendors you are happy with my advice is to stay away from YOUBET until they can make good on requested withdrawals again for a reasonable amount of time.

[Tom]

Contact your State Attorney General and file a formal complaint. You can probably do it on line. If you pay for something you don't get, there is no excuse. Don't let You Bet fail to honor it's responsibilities.
There is no excuse for not having funds ready.

[hoovesupsideyourhe]

i told you they are bad doc ,sorry to hear that it happend to you..

[joelouis]

Unfortunately this has happened to me several times over the years with YOUBET but this is the third time in a month the ADW giant has had difficulties with overnight withdrawals. Requests for monies from the weekend are still not delivered this week again.

Overnight delivery is paid for by the player nonetheless YOUBET seems to be delaying payouts requested again as a number of us have experienced in years past.

If you are using other ADW vendors you are happy with my advice is to stay away from YOUBET until they can make good on requested withdrawals again for a reasonable amount of time.

Maybe somebody is trying to tell you something. you think.

[docicu3]

To be fair monies have arrived today. Days late but they have dispensed

[BillW]

To be fair monies have arrived today. Days late but they have dispensed

Any refund on the over night premium?

[rrbauer]

Ubet has always been "slow pay". Even their ACH withdrawals take a day longer than TS or PTC, but ACH deposits take longer to hit my bank account as well. They're just slow!

Fastest pay used to be PhoneBet. I'd call on Sunday with a withdrawal request and I'd have the money FedEx on Tuesday morning. AND NO CHARGE FOR THE FEDEX! I don't play much with them anymore so I don't know about now.

[CincyHorseplayer]

A week late??Not bad!!

I'm near a Twinspires site,so I can get withdraws from River Downs.But when I was looking around at ADWs I talked to a guy from Bodog and he told me that when I wanted to withdraw money from my account they would send me a 3rd party check and it would take 30-40 business days.

[freehouse2002]

I've never had a problem with them. They usually take about a week to get me money into my account.



freehouse2002

[JimG]

As info, withdrawals can take longer if there is an outstanding deposit. Youbet waits for the ACH deposit to clear prior to releasing an ACH withdrawal although they do credit the betting account immediately.

Like Richard, I have found Youbet to run 1 day behind TwinSpires when it comes to getting my ACH withdrawals. If I make an ACH deposit, they are one day later taking it out of my checking account than TwinSpires on that as well. Overall, I have had no problems getting my money in what I consider a timely fashion.

Jim

[JustRalph]

Wow! You guys actually take money back out of your account!!! :lol:

[Tom]

Wow! You guys actually take money back out of your account!!! :lol:



D'oh!

:lol::lol::lol:

[BUD]

UM Ralph---Can I borrow that Avatar when Your threw with her--I mean it:)

[NoCal Boy]

Curious. Are you sure you asked for overnight delivery or 2 day? If you requested it on the weekend, the first banking day was Monday so it should have come Tuesday. Today is Wednesday. One day late unless you asked for 2 day priority. Request credit back if truly overnight delivery.

Unfortunately this has happened to me several times over the years with YOUBET but this is the third time in a month the ADW giant has had difficulties with overnight withdrawals. Requests for monies from the weekend are still not delivered this week again.


Overnight delivery is paid for by the player nonetheless YOUBET seems to be delaying payouts requested again as a number of us have experienced in years past.

If you are using other ADW vendors you are happy with my advice is to stay away from YOUBET until they can make good on requested withdrawals again for a reasonable amount of time.

[threegoldstars]

Any company that charges you to withdraw money, even if it is for shipping the money, is ripping you off. You pay exhorbitant rates for takeout among all of the other obnoxious things racing does to its fans...you'd think they could at least GIVE you your own money rather than making you pay to get it. Drop them immediately and find a place that will wire you your money or ship it overnight - FREE.

[Zman179]

Well what the hell do all of you expect. The name of the company is YOUBET, not YOUCOLLECT. :lol:

[pktruckdriver]

Any company that charges you to withdraw money, even if it is for shipping the money, is ripping you off. You pay exhorbitant rates for takeout among all of the other obnoxious things racing does to its fans...you'd think they could at least GIVE you your own money rather than making you pay to get it. Drop them immediately and find a place that will wire you your money or ship it overnight - FREE.


Where would we find that ADW? :confused:

[Zman179]

Well, TwinSpires doesn't charge a cent to make deposits nor withdrawals, and the money goes straight into your checking account. That's pretty darn easy.

[NoCal Boy]

last I checked Youbet does not charge me a cent to deposit or withdraw in and out of my checking account either. I don't think Xpressbet does either.

Well, TwinSpires doesn't charge a cent to make deposits nor withdrawals, and the money goes straight into your checking account. That's pretty darn easy.

[andicap]

Here's how I see it, although i could be wrong.

The ADWs are not unlike your bank. The bank does not keep everyone's money on hand, but are required under federal laws to keep a certain reserve -- about 20% or so. If there is a huge run on the bank, everyone will not get paid right away. (Of course the FDIC guarantees everyone's account up to $100K).
The You Bets of the world are not required to keep a certain "reserve" on hand and there is no federal government to back up your account. So there is a risk of course.
But because You Bet -- like your bank -- is only so liquid, it might take them a few extra days to pay because they are operating -- like your bank -- under the assumption that only a certain percentage of their customers will call for their money at any one time.
It's possible that at the holidays, when more people will need their money than at other times of the year, that You Bet and other ADWs would encounter a cash crunch and need a couple of more days to pay out.

[Zman179]

The Feds now guarantee bank accounts up to a cool 250 G's.

ADW accounts won't even guarantee up to $2.50.

[NoCal Boy]

Toubet keeps its deposits in a restricted cash account(s) called Players Trust that is separate from operational cash. It has a contra account on the liabilities side called Customer Deposits. These are typically around $4.5MM at any given time. I believe Twinspires, TVG and Xpressbet do the same (maybe others like PTC?) and my understanding are bankruptcy protectable for customers. For this reason peoplewill continue to place wagers and deposits with Xpressbet even though Magna is basically insolvent on paper.

The Hinsdale ADW did not appear to have this protection, thus its ADW depositors are at risk.

I think people are crazy to play with anyone who does not have segregated accounts given what happened with Hinsdale puppies.


Here's how I see it, although i could be wrong.

The ADWs are not unlike your bank. The bank does not keep everyone's money on hand, but are required under federal laws to keep a certain reserve -- about 20% or so. If there is a huge run on the bank, everyone will not get paid right away. (Of course the FDIC guarantees everyone's account up to $100K).
The You Bets of the world are not required to keep a certain "reserve" on hand and there is no federal government to back up your account. So there is a risk of course.
But because You Bet -- like your bank -- is only so liquid, it might take them a few extra days to pay because they are operating -- like your bank -- under the assumption that only a certain percentage of their customers will call for their money at any one time.
It's possible that at the holidays, when more people will need their money than at other times of the year, that You Bet and other ADWs would encounter a cash crunch and need a couple of more days to pay out.