Sportsbetting.com check bounced

Godzilla · 02-25-2008, 02:06 PM

My bank just called and told me that the $2500 check I received from sportsbetting didnt clear due to insufficient funds. Has anyone else had this problem? I called them and they said they will check it out, but I am nervous. What can I do? I need that money to go through!! HELP!!

dotheopposite · 02-25-2008, 03:17 PM

yeap sounds like you are hosed. Might as well take that TV back and pay the bank fees. Sportsbetting.com is full of crap no matter what they tell you. You should us Betus.com. Those guys are spot on

bigboydan · 02-25-2008, 04:26 PM

Odds are it was probably a processing issue of some type IMO. Give it a few more days to see if you receive a new check, and if you don't get it by then, and feel you need some assistance. Then please feel free to fill out this complaint form and one of us will inquire on your behalf.

andrewaxia · 02-25-2008, 04:37 PM

When did you receive the check? I got a pair last week for
2K and cashed them without any issues. I was expecting one today as well but I'm not sure what's going on. The UPS tracking number just say's billing info received and expected arrival date 2-25 but no further info about the package actual location. Probably some sort of computer issue I hope

andrewaxia · 02-25-2008, 04:40 PM

Godzilla · 02-25-2008, 04:45 PM

Quote:

Originally Posted by andrewaxia

When did you receive the check? I got a pair last week for
2K and cashed them without any issues. I was expecting one today as well but I'm not sure what's going on. The UPS tracking number just say's billing info received and expected arrival date 2-25 but no further info about the package actual location. Probably some sort of computer issue I hope

I received it on the 19th and put it in the bank. Bank called today and said it didnt clear

Godzilla · 02-25-2008, 05:06 PM

Quote:

Originally Posted by andrewaxia

From what bank was the cashiers check they sent you from? I had one from IB.GLOBAL ADVANTAGE and the other from Nevada state bank.

xxxxxxxx xxxxxx Bank. I just dont get why it bounced. They have to have money in that account.

andrewaxia · 02-25-2008, 05:07 PM

Very weird - Don't know what to say

TLD · 02-25-2008, 06:42 PM

When banks find out a “processing company” is really a front for gambling transactions, they sometimes close that company’s account. Whatever checks are outstanding then bounce.

This is why these processors are going from bank to bank, from state to state, and from country to country, constantly opening up new accounts. (And why posters should never be naming processors and where they bank in these threads.)

The good news is it’s usually not the case when a check bounces that the book (or the processor for that matter) is broke and your screwed. They’ll just re-issue you a check.

I had five checks bounce like that in 2007. All were replaced, with either a small bonus, or at least enough extra to cover the bank fees I proved to them I was charged at my end.

It’s going to be more of a problem for the company of which Sportsbetting.com is a part than most, because they issue a humongous number of payouts, and they are especially apt to overload their processors and push through so many as to raise red flags with banks. They’ll likely reissue you a check (at least I hope so, since I just got a check from them within the last few days, and if yours bounced, mine might well also), but their customer service is so inept and unresponsive that I wouldn’t be surprised if it takes a long time or you have to go through some excessive hassle.

In response to something else that was posted in this thread, your bank’s “cashing” your check doesn’t mean you’re home free. It means either 1) You have more than the amount of the check in your account already, so in effect you’re depositing the check and withdrawing an equal amount of your own money that’s already cleared, or 2) You’re a good enough customer that they’re in effect extending you credit for the amount of the check. What it doesn’t mean is that the check’s good, or they’re taking responsibility if it isn’t. You’re still 100% responsible if that check later turns out to be no good. They’ll just deduct it from your balance after the fact, and charge you the resulting fees on top of it.

To be on the safe side with these sportsbook checks, even if your bank is willing to give you the money for it immediately, it’s better to let it sit in your account for a short time to give them a chance to try to collect on it. They’ll usually know in a week or so if it’s bad, and well over 99% of the time they’ll know within a month. But if you let your bank balance drop below the amount of the check during that iffy phase, you run the risk of having your balance go negative and having anything from a minor to a major hassle with your bank.

TLD · 02-25-2008, 06:45 PM

And for heaven’s sake, please nobody listen to One-Post Charlie and trust BetUS with your money. This is a low rated book with many, many complaints.

jrandtracy · 02-26-2008, 12:30 AM

i had 2 checks from the sportsbook.com company recently bounce. i called the sportsbook and they had told me they had a batch of "bad" checks go out. i was told they will reimburse the bank fees as long as you send them a statement copy. they also stated that they will consider giving out free inconvenience/delay bonus money into your sports account. i was told they will mail out replacement checks... my only worry is that they might charge me another $0.00 processing fee for the 2 withdrawls.

jrandtracy · 02-26-2008, 12:31 AM

by the way, both checks arrived to me on feb 18,2008 via fedex. i deposited it the following day at the atm only to find out today that the 2 checks bounced.

RickySteve · 02-26-2008, 03:05 AM

You're going to see more of this.

iggles · 02-26-2008, 06:27 AM

I had two checks deposited on 2/21 from Sportsbetting.com for 2460 and 960. no problems. I am waiting for two more. will keep you posted

Godzilla · 02-26-2008, 08:00 AM

Quote:

Originally Posted by iggles

I had two checks deposited on 2/21 from Sportsbetting.com for 2460 and 960. no problems. I am waiting for two more. will keep you posted

Please do. I had 3 checks from them. I got an email saying dont deposit the other 2 until they figure out what happened to the 1st one. This is very fustrating because I cashed the first one from my bank, and now I am in the red because they froze my account.

Godzilla · 02-26-2008, 08:01 AM

Quote:

Originally Posted by RickySteve

You're going to see more of this.

Why? Whats going on?

iggles · 02-26-2008, 11:16 AM

Spoke with someone at their customer service. They admitted that a few players had their checks bounce but this was because of a routing number issue and it was an isolated issue. The problem was supposedly corrected and other checks were no affected