₦airaland Forum

I mistakenly deposited 500k into my sportybet account, instead of 5k. I tried withdrawing it back to my account but the money was withheld. I called their customer care and they told me I have to place a bet with the money before I can withdraw. I placed a bet with 50k, yet I've still not been allowed to withdraw.

Below is what I saw in their terms and conditions:

2.3 If the value of a deposit is not played through in full before a withdrawal is requested, SportyBet reserves the right to make a charge to the customer's account to cover all reasonable costs relating to both the deposit and withdrawal. If necessary, the value of the withdrawal requested may be reduced accordingly.

I've spoken with atleast 5 of their agents, and they all insist I must place a bet with all the money before withdrawing

You are not serious.


Whatever you deposited, half of it must be staked back.

500k equals 250k.


Your best bet is to play a game of 0.01 odds with 250k

If a team is winning 2-0 and it's 90 minutes, quickly play that 0.01 odd you see with 250k


That's the only way for you.


They have rules and regulations on deposit which states that you must stake half of what you deposit.

Yes, they won't allow you to withdraw, no bookmaker will allow depositing and withdrawing the deposited amount without turning over the deposit at least once.

It is due to money laundering related issues, as all bookies include it in their T&C.
You can hedge your bets by placing 2 separate bets on a 2 way market like BTS, where you'll lose a guaranteed amount.

You can also take the risk of staking the whole 500k on odds of 1.02 - 1.03 but you'll have to check if they'll allow that.

I recommend engaging them on their most active social media pages. I believe they will be more considerate there.

Sapeleboy911:
Yes, they won't allow you to withdraw, no bookmaker will allow depositing and withdrawing the deposited amount without turning over the deposit at least once.

It is due to money laundering related issues, as all bookies include it in their T&C.
You can hedge your bets by placing 2 separate bets on a 2 way market like BTS, where you'll lose a guaranteed amount.

You can also take the risk of staking the whole 500k on odds of 1.02 - 1.03 but you'll have to check if they'll allow that.

I recommend engaging them on their most active social media pages. I believe they will be more considerate there.

OK, so can you explain this part of their T&C?

2.3 If the value of a deposit is not played through in full before a withdrawal is requested, SportyBet reserves the right to make a charge to the customer's account to cover all reasonable costs relating to both the deposit and withdrawal. If necessary, the value of the withdrawal requested may be reduced accordingly.

Also I didn't see what you stated up there in their terms and conditions

kings59:
You are not serious.


Whatever you deposited, half of it must be staked back.

500k equals 250k.


Your best bet is to play a game of 0.01 odds with 250k

If a team is winning 2-0 and it's 90 minutes, quickly play that 0.01 odd you see with 250k


That's the only way for you.


They have rules and regulations on deposit which states that you must stake half of what you deposit.

Can you show me where it is stated in their terms and conditions?

Trendie247:
OK, so can you explain this part of their T&C?

2.3 If the value of a deposit is not played through in full before a withdrawal is requested, SportyBet reserves the right to make a charge to the customer's account to cover all reasonable costs relating to both the deposit and withdrawal. If necessary, the value of the withdrawal requested may be reduced accordingly.

Also I didn't see what you stated up there in their terms and conditions

Did you read and understand the T&C you posted? A bookmaker will not allow you to withdraw your deposit without staking it for at least once, some even require minimum odds for your stake to be considered a valid turnover. Go and engage them on X. Their chat support will be too slow to resolve your issue.

Funny how they always do this for only big but never small amounts. Two weeks ago, I mistakingly loaded 4K on my sporty acct instead of buying light of 4K. U needed to see how fast I withdrew my 4K with d speed of light wey I need. Money was returned in a flash.

Sapeleboy911:
Did you read and understand the T&C you posted? A bookmaker will not allow you to withdraw your deposit without staking it for at least once, some even require minimum odds for your stake to be considered a valid turnover. Go and engage them on X. Their chat support will be too slow to resolve your issue.

What I understand about the T&C is that if I'm not ready to place a bet with the full 500k, I will be charged a certain amount for the deposit and withdrawal, and I don't have any issue with that.

BTW, thanks for your suggestion, I've also messaged them on Twitter

I shock when i withdraw 50 naira from sporty bet last week. E just shock me

Sometime a go what I did was play a live game and cash it out just immediately

Gggjhhj:
Sometime a go what I did was play a live game and cash it out just immediately

This is a good idea, I'll try it out. I just pray make village people no strike

Your eyes go first blur when you did that transaction. Just a single bet of lazio to score last night, you for don get 50 to 70k extra and then withdraw your capital.

harsysky:
Your eyes go first blur when you did that transaction. Just a single bet of lazio to score last night, you for don get 50 to 70k extra and then withdraw your capital.

What if they ended up not scoring?

Trendie247:
This is a good idea, I'll try it out. I just pray make village people no strike

Test with small money first, but e suppose work, no try match Wey don go far, match Wey just start

Gggjhhj:
Test with small money first, but e suppose work, no try match Wey don go far, match Wey just start

Alright bro

So you wan use Sporty for money laundery and you think sey dem no get rules

PenpalOso:
Funny how they always do this for only big but never small amounts. Two weeks ago, I mistakingly loaded 4K on my sporty acct instead of buying light of 4K. U needed to see how fast I withdrew my 4K with d speed of light wey I need. Money was returned in a flash.

Because 4k is not the kind of money people launder…

Kingluqman:
So you wan use Sporty for money laundery and you think sey dem no get rules

The money came from my account, and was withdrawn to the same account it came from.. Is that money laundry?

And besides they asked me to provide my ID and account statement, which I did.

Sapeleboy911:
Did you read and understand the T&C you posted? A bookmaker will not allow you to withdraw your deposit without staking it for at least once, some even require minimum odds for your stake to be considered a valid turnover. Go and engage them on X. Their chat support will be too slow to resolve your issue.

They are still saying the same thing on Twitter, and none of them can explain the terms and conditions

Trendie247:
The money came from my account, and was withdrawn to the same account it came from.. Is that money laundry?

And besides they asked me to provide my ID and account statement, which I did.

It is to them.

Bet9ja is worse, any money deposited there cannot be withdrawn. U must play with everything.

Even if u win, they'll separate your winning money from your initial deposited money.

You can only withdraw your winning cash but not your deposited cash.

Trendie247:
They are still saying the same thing on Twitter, and none of them can explain the terms and conditions

Stop laying emphasis on that T&C because you will only end up making things complicated for yourself.

What if they tell you that the processing fee for both the deposit and withdrawal fees of your 500k costs 50k? You can see clearly that the T&C is a bogus one that can be interpreted to their own favour because the processing fee or how it will be calculated was not stated.

You have 3 options which are:

1)Continue engaging them to find out how much the processing fee is, if you intend to withdraw your 500k without staking it.

2)Dutch a 2 or 3 way market for a guaranteed loss of around 10k - 18k no matter the outcome. Though you will have to check their T&C on what it says about multi bets on the same game, or better still find out from them.

3)Stake the 500k on very low odds of 1.02 - 1.05, then hope and pray because even 1.01 odds are not sure. Also, you'll have to check their T&C or ask them if there are minimum odds requirements for turning over your deposit before withdrawal.

How can you mistakenly deposit 500k instead of 5k just listen to yourself. Not even 50k you said 500k

Trendie247:
I mistakenly deposited 500k into my sportybet account, instead of 5k. I tried withdrawing it back to my account but the money was withheld. I called their customer care and they told me I have to place a bet with the money before I can withdraw. I placed a bet with 50k, yet I've still not been allowed to withdraw.

Below is what I saw in their terms and conditions:

2.3 If the value of a deposit is not played through in full before a withdrawal is requested, SportyBet reserves the right to make a charge to the customer's account to cover all reasonable costs relating to both the deposit and withdrawal. If necessary, the value of the withdrawal requested may be reduced accordingly.

I've spoken with atleast 5 of their agents, and they all insist I must place a bet with all the money before withdrawing

Play arsenal straight win or x2 with 250k after the match move your money

Trendie247:
What if they ended up not scoring?

You lose the 500k. As it is, and with the pressure the Op is facing not to lose the fund, he should seek for a third party's help to give him a game to redeem his fund. Let him play Madrid to score today. He will get back his fund

Trendie247:
I mistakenly deposited 500k into my sportybet account, instead of 5k. I tried withdrawing it back to my account but the money was withheld. I called their customer care and they told me I have to place a bet with the money before I can withdraw. I placed a bet with 50k, yet I've still not been allowed to withdraw.

Below is what I saw in their terms and conditions:

2.3 If the value of a deposit is not played through in full before a withdrawal is requested, SportyBet reserves the right to make a charge to the customer's account to cover all reasonable costs relating to both the deposit and withdrawal. If necessary, the value of the withdrawal requested may be reduced accordingly.

I've spoken with atleast 5 of their agents, and they all insist I must place a bet with all the money before withdrawing

Your best bet is to play an arbitrage game with the money and lose about ₦20,000 instead of the ₦50,000 game you played. It's better to lose ₦20k than ₦500k.
Attached is a sample of what I meant. You can download an arbitrage calculator from Play store to help you with the calculations. The one I calculated is playing O5.5 and U5.5 and whatever the outcome, you will lose almost 20k and withdraw the balance. You need to place 2 opposite games

If it was 50k ,I could have believed you but two extra zeros bro, talk true jor

If u still never withdraw, msg me or quote me

Okonsbecky:
If u still never withdraw, msg me or quote me

I've withdrawn about 100k so far from 1.01 odd winnings,
Lost 50k in the process.

100k and 50k winning withdrawals are currently pending.

Trendie247:
I've withdrawn about 100k so far from 1.01 odd winnings,
Lost 50k in the process.

100k and 50k winning withdrawals are currently pending.

Msg me on zero8135784824 will arb it out, u not loosing a dime

If he had followed this your advice he would have lost.

harsysky:
You lose the 500k. As it is, and with the pressure the Op is facing not to lose the fund, he should seek for a third party's help to give him a game to redeem his fund. Let him play Madrid to score today. He will get back his fund

That is true. You can not deposit an amount into your betting account and re-withdraw same amount.

It is use to prevent money laundary and fraud.