[sgo]

I would like to share with you, about the "strange" rules that Canbet has, with respect to bonus.
They have a "turnover requirement" to be met before you can withdraw any $ from your bonus.

Basically, you need to turnover 6x your bonus before been able to withdraw it. But when you wager and still have money on your balance (before taking into account the bonus), this wager DOES NOT COUNT for the 6x turnover ! Thus you shall bet all your money (or lose it) if you want to have any chance to get some cents from your bonus. Moreover, if you dont turnover 6x your bonus, after 90 days it is removed (= lost for you).

As far as I know, canbet is the only bookmaker with such rules, which make it nearly impossible to withdraw any $ from a bonus you might have got from canbet (unless you have lost all the money you had on your account). Most likely the same is also valid for "freebets" that canbet might generously distribute.

I would be surprised if many people report they have been able to withdraw any money from a canbet bonus !
Any canbet promotion involving such bonus is nearly a joke/fake !


Relevant parts from canbet rules (http://www.canbet.com/help/sportsboo...ion_rules.aspx) :

2.1.1 A player's Sportsbook balance is divided into a "Cash Balance", a "Bonus Balance" and a "Free Bet Balance".
2.1.2 Any deposits made by players shall be credited to the player's Cash Balance. Subject to the provisions in clause 6, your Cash Balance may be withdrawn at any time.
....
2.1.4 Unless otherwise stated, all bonuses, credits, rebates, free bet winnings and prizes shall be credited into a player's Bonus Balance, and shall be subject to the following rules :
2.1.4.1 All winnings from bets placed using funds from the Cash Balance will be added to the Cash Balance
2.1.4.2 All winnings from bets placed using funds from the Bonus Balance will be credited back to the Bonus Balance up to the value of the original bonus amount, less any movements from the Bonus Balance to the Cash Balance. Any excess winnings will be credited to the Cash Balance.
2.1.4.3 Your Bonus Balance may not be withdrawn from your account.
2.2 Converting of Bonus Balance into Cash Balance
2.2.1 Unless otherwise stated, bonus amounts credited to a player's Bonus Balance are subject to six (x6) times turnover requirements, before they will be transferred into the Cash Balance, where they may be withdrawn.
2.2.2 For any bet made, the bet is placed from a player's Cash Balance first. If there is no Cash Balance available, then the bet is placed from the player's Bonus Balance. This effectively means that credits in the player's Bonus Balance are only played if there is no Cash Balance.
2.2.3 As a player meets the turnover (wagering) requirements of the promotional bonus issued, the bonus balance is decreased in increments of 10 and added to the Cash Balance.
2.3 Forfeit of Bonus Balance
2.3.1 In the event that a player makes a withdrawal at any time, the Bonus Balance shall be reset to zero. This means that if you withdraw any portion of your Cash Balance and you still have a Bonus Balance, your remaining Bonus Balance shall be forfeited.
2.3.2 Should a player make any transfer to another product (i.e. Casino or Poker), any Bonus Balance remaining in the account shall be forfeited.
...
2.3.4 Bonuses that have not been converted into the Cash Balance within 90 days of being issued shall be forfeited.

[franky]

[Santo]

Place your cash balance on a long-term / couple of weeks in the future wager. Bet your bonus balance 6x. Cash both out.

[sgo]

Place your cash balance on a long-term / couple of weeks in the future wager. Bet your bonus balance 6x. Cash both out.

Good idea, but when the cash balance is 5000€, and the bonus 200€, this is far from simple ....

[davidchong]

after complete the 6x rollover the bonus money go to the cash balance.

send and email or live chat when you complete the 6x roll.

[DukeJohn]

Sounds like a back end bonus. You have to roll it over 6x first and then the bonus will be added to your cash. Which is fine, as long as they don't require that the only bets that count toward the roll over are ones placed with the bonus money. Now that would be ludicrous.

BoL,

[sgo]

Sounds like a back end bonus. You have to roll it over 6x first and then the bonus will be added to your cash. Which is fine, as long as they don't require that the only bets that count toward the roll over are ones placed with the bonus money. Now that would be ludicrous.

BoL,

It is clear : they do require that the only bets that count toward the roll over are ones placed with the bonus money ... so it's what you call "ludicrous"...

[chunnnn2010]

Canbet was an a site years ago. Nowadays, they really sucks.

[John Howard]

I have exactly the same problem as you however my balance is 2100. I only have £69 left to wager but with their rollover terms and conditions it is nearly impossible to wager through the amount left, without putting on ridiculous bets. Especially in the way in which they release your bonus...towards the end I would have to wager my whole account balance to contribute towards £5 of the wager requirement which is just ridiculous!!I didn't realise I was tieing myself into anything like this otherwise I would have never bothered with the bonus. It was only when I came to withdraw I recieved an email. Since I have sent emails back and forth I have asked them for a realistic way in which I could wager throught the rest of my bonus, and they just responded by saying you may not withdraw until your bonus wager requirements have been completed. I have also asked for my bonus balance and any winnings associated to be forfeited so I can withdraw the remainder of my balance, again they were having none of it. Reading the rules above surely I should be able to do this??

I have filed a complaint with SBR about a month ago, but have not heard anything back yet.

Have you any suggestions?

[Justin7]

We've had other complaints on this. Canbet basically told the players to go to hell. Their rules are unclear, their enforcement unfair. Canbet used to be a great book. They have been sinking for a long time.

[Hareeba!]

I have exactly the same problem as you however my balance is 2100. I only have £69 left to wager but with their rollover terms and conditions it is nearly impossible to wager through the amount left, without putting on ridiculous bets. Especially in the way in which they release your bonus...towards the end I would have to wager my whole account balance to contribute towards £5 of the wager requirement which is just ridiculous!!I didn't realise I was tieing myself into anything like this otherwise I would have never bothered with the bonus. It was only when I came to withdraw I recieved an email. Since I have sent emails back and forth I have asked them for a realistic way in which I could wager throught the rest of my bonus, and they just responded by saying you may not withdraw until your bonus wager requirements have been completed. I have also asked for my bonus balance and any winnings associated to be forfeited so I can withdraw the remainder of my balance, again they were having none of it. Reading the rules above surely I should be able to do this??

I have filed a complaint with SBR about a month ago, but have not heard anything back yet.

Have you any suggestions?

Your best hope might be to lodge a complaint with IBAS and hope that they might see the unfairness in Canbet's rules.

[AimingHigh]

I had the same problem with them back in late 2009. I got limited, but still had a rollover to complete for some of the bonus. In those circumstances, they let me sacrifice the bonus and withdraw. So I'm quite surprised that they won't allow you to sacrifice the bonus and withdraw. Maybe they took a different view because I was limited? I don't think you should need to offer to sacrifice the winnings with bonus funds, as the bonus isn't released till after a certain rollover, so you haven't gained anything at their expense if you keep the winnings, if that makes sense. It's a post-rollover bonus, not pre-rollover, if that makes sense.

I agree with Hareeba that you should complain to IBAS. Ask to be allowed to withdraw without the remaining bonus, but think carefully about also offering to give up winnings.

[sgo]

Personally, I gave up my bonus, as I withdraw before using any piece of the bonus. The wost case is when you have started using even a small part of this bonus, as then you can no more withdraw at all (even if the bonus is 100$, if you have wagered only 1$ from it, and have a global balance of 10 000$).

As long as their rules stay as presently, I will forget about any bonus from them.

[newcomer]

I am quite new to betting and horrified by Canbet, who are refusing to let me withdraw any of my money at all, until I have bet the whole balance 6x, because I was given a free £25 bet. Since my whole balance is £140 I am likely to lose the whole lot before I ever get there.

I have emailed them and spoken to them and they refuse to let me have a penny of my money. I would be happy to lose the £25, but they won't even deduct that, or let me have some of my money so as to reduce the amount I am risking.

I haven't copied their terms and conditions here, as I notice other contributors have, but they are quite impossible to understand. I would be grateful for any advice.

[davidchong]

I am quite new to betting and horrified by Canbet, who are refusing to let me withdraw any of my money at all, until I have bet the whole balance 6x, because I was given a free £25 bet. Since my whole balance is £140 I am likely to lose the whole lot before I ever get there.

I have emailed them and spoken to them and they refuse to let me have a penny of my money. I would be happy to lose the £25, but they won't even deduct that, or let me have some of my money so as to reduce the amount I am risking.

I haven't copied their terms and conditions here, as I notice other contributors have, but they are quite impossible to understand. I would be grateful for any advice.

bet your entire balance on one game and rollover completed.

[lukahh]

bet your entire balance on one game and rollover completed.

yes. arb it over pinnacle.

and in then, goodbye canbet

[AimingHigh]

bet your entire balance on one game and rollover completed.

That doesn't work, because Canbet transfer the $$ from your "bonus balance" to your "cash balance" only a little at a time. So, for example, for every time you bet your entire £60 bonus balance, they might release £10. And you can't get to betting the bonus balance till your cash balance is gone / tied up.

What you need to do is the following:
1. Place a bet on an event a week off or so with the amount of your cash balance;
2. In the meanwhile, place same-day bets with your bonus balance, till all of it is transferred over to the cash balance;
3. Withdraw everything that's left once the bet under 1. settles.

Canbet used to be a good book, and set their own lines. Now, they seem to just follow Pinnie or an Asian (not sure which) and add a little juice. That, together with the extreme bonus rules means there's little reason to play there any more.

[sgo]

That doesn't work, because Canbet transfer the $$ from your "bonus balance" to your "cash balance" only a little at a time. So, for example, for every time you bet your entire £60 bonus balance, they might release £10. And you can't get to betting the bonus balance till your cash balance is gone / tied up. What you need to do is the following: 1. Place a bet on an event a week off or so with the amount of your cash balance; 2. In the meanwhile, place same-day bets with your bonus balance, till all of it is transferred over to the cash balance; 3. Withdraw everything that's left once the bet under 1. settles. Canbet used to be a good book, and set their own lines. Now, they seem to just follow Pinnie or an Asian (not sure which) and add a little juice. That, together with the extreme bonus rules means there's little reason to play there any more.

I agree with you : this is the best (maybe the only) way to get rid of canbet bonuses, once you have started to use it (otherwise, simply cancel it).

[Stumpage]

Canbet basically told the players to go to hell.

That basically sums up Canbet right there...Used to be one of my top tier books; Now I wouldn't even remotely consider playing there.

[sgo]

Another example of some stupid "promotion" issued today by canbet (via email) :

"This weekend, place a five leg Multi-bet on any of our 1x2 soccer markets and if you have only one losing selection, we will refund your stake as a bonus bet!

*Terms and Conditions:

1. Maximum bonus claim is £50 (€60/$75).
2. All selections within multiples must be on 90 min 1x2 (coupon bet) soccer markets only.
3. LIVE In-Play bets do not qualify.
4. Void bets do not qualify.
5. Bonus bet credited within 72 hours of final leg settlement as Bonus Credits.
6. Promotion Code: LEGUP must be entered on the My Account Page.
7. This promotion applies to bets placed between Friday 30 July 2010 (00:00 BST) and Sunday 01 August 2010 (23:59 BST)
8. Standard Canbet.com Terms and Conditions and Promotion Terms and Conditions Apply."

As usual on canbet, "Terms & Conditions" are made in order to make it nearly IMPOSSIBLE to win anything with this promotion. Only missing is "only available for twins female born on february 29th".

My 2 cts : forget about it immediately !

[Hareeba!]

sgo, you quite obviously (and most probably justifiably) have zero regard for Canbet

so, wtf are you even bothering to visit and find these "amazing" offers?

do you still play there regardless?

[Mudcat]

Canbet has made itself irrelevant in the industry

[wrongturn]

For me, it is can'tbet

[yobinad]

These guys are a bunch of thieves... keep away from this book, they stole me money last year.
you could read a bunch of posts about their scams.

[rolybea]

I get the same problem earlier this year with them and the bonus cash deposit... The way i solve the problem, i told them go to hell and i withdraw all my cash i have there. I deposit 500$ and i start to win right away so for me it was impossible to bet all my cash to start betting my bonus account balance and anyway you will find way better odds at some big bookie like pinnacle , 5dimes, etc... so guys i told you dont go there for the bonus because its impossible to clear it unless you lose your cash at the beggining...

Avoid them

[Ajax_4ever]

That doesn't work, because Canbet transfer the $$ from your "bonus balance" to your "cash balance" only a little at a time. So, for example, for every time you bet your entire £60 bonus balance, they might release £10. And you can't get to betting the bonus balance till your cash balance is gone / tied up.

What you need to do is the following:
1. Place a bet on an event a week off or so with the amount of your cash balance;
2. In the meanwhile, place same-day bets with your bonus balance, till all of it is transferred over to the cash balance;
3. Withdraw everything that's left once the bet under 1. settles.

I have the same problem as everyone else here. I got € 900 stuck at canbet for a bonus of € 25...

At first I was mad about the fact that I needed to bet my whole account balance to meet the six time rollover requirements, but it got worse. It turned out that after meeting 60 euro of the 180 euro rollover requirement, 10 euro of the bonus balance will be paid out to my account balance, so the bonus balance is deducted to 20 euro. Now with every bet with my full balance, I only contribute 20 euro towards the rollover requirements. And when I have played through 120 euro with my bonus balance (after 5 full balance bets), another 10 euro will be paid out. Then it will take 6 more bets with my full balance to be able to withdraw. All together I don't have to stake my full balance six, but eleven times before being able to get my money back...

Then I found this forum with your tip and figured this might work. If I succeed in placing 11 bets with my bonus money I will be able to withdraw. But then I thought, what happens when I lose a bet with my bonus money? It would be logical that the bonus would be gone, but no. In their livechat they told me that in the case of losing the bonus, the lost bonus amount will be transferred from your account balance back to your bonus balance...

So when you lose the long term arbitrage bet with your account balance you're happy, bacause the money is now in your other bookies account. But when you win that bet, your account balance will be doubled (depending on the odds of the bet) and your still have to complete the remaining rollover.

Therefore, for this tactic to succeed, you need to win all the eleven bets with your bonus. This is doable, because there are not minimum odds (although Canbet almost only offers AH odds), but when you do not succed in this and your long term bet is winning, you have even more money stuck at Canbet.

So my advice is to place the long term arbitrage bet with your account balance at as low odds as possible. In case of not succeding in winning eleven bets with the bonus amount, only a "small" amount of money will be added to your balance. I will try this tactic when the football season starts again, so there will be enough low odds available to place eleven bets with my bonus balance.

I hope that in the main time Canbet is punished for these ridiculous bonus conditions and releases my money.

[Dark Horse]

Can-o'-worms-bet

Everything went south after they left the US market (November 2006). Started to f*ck around with bonus rules in 2007, and changed owners in May 2009. From top book to scam book.

[harryhoang]

I'm stuck with 500$ real balance and 20$ ******* bonus balance.

Still have 72.8$ (turn-over requirement) to go

This is a TRAP, CAN'TBET you should be shame.

[yobinad]

The worst book i ever played. Canbet S**ks

[brxbmbers42]

I still dont understand why anyone is playing at these second rate books. Its like guys are asking to be screwed over. No one should be playing anywhere but the four or five top books.

[AimingHigh]

I still dont understand why anyone is playing at these second rate books. Its like guys are asking to be screwed over. No one should be playing anywhere but the four or five top books.

That's a bit unfair in the case of bettors signing up to Canbet. Given that they're based in Australia, a highly regulated jurisdiction, people should be entitled to assume they're safe. It's not like people signing up to random CR bookies, where reputation is as close to regulation as it gets. Canbet are shysters when it comes to their bonus rules, but I'm not sure it's fair to blame people for assuming better of an Aus book.

[John Howard]

Get in touch with IBAS regarding your situation. I got screwed with the whole bonus balance scenario, I had over £2000 in their and was paid in full after the IBAS complaint went through.

[Hareeba!]

That's a bit unfair in the case of bettors signing up to Canbet. Given that they're based in Australia, a highly regulated jurisdiction, people should be entitled to assume they're safe. It's not like people signing up to random CR bookies, where reputation is as close to regulation as it gets. Canbet are shysters when it comes to their bonus rules, but I'm not sure it's fair to blame people for assuming better of an Aus book.

NO!

Canbet is no longer an Australian book. Hasn't been since IAS sold it?
They are licensed in the UK and all their contact details refer to the UK

Canbet is a member of the United Kingdom's, Independent Betting Arbitration Service (IBAS). IBAS is an authoritative, totally independent third party offering adjudication for customers who have an unresolved betting dispute with licensed Sportsbooks.

[escou]

Hey guys and what is the smartest way to present the situation for infront of the IBAS ?

[FourLengthsClear]

Hey guys and what is the smartest way to present the situation for infront of the IBAS ?

There is an arbitration form you can submit on the IBAS website
http://www.ibas-uk.com/adjudicationForm.php