Betphoenix Issues

[recovering77]

To Kevin or anyone else that can help.

I know that Betphoenix used to be a sponsored book here. I'm not sure if they still are, as their rating on another site has tanked as of late.

I'm going to be perfectly honest here. I tanked a lot of money a couple of years ago, and have been trying to break even since doing expensive and long shot parlays. While I was doing this before, the book had no problem just taking my money. I'm talking 3000 for straights and parlays. The livechat person told me the usual max during regular season NFL is 5000 a game.

Well a 2 weeks ago I deposited $300, and I sit today with $8000, with 4000 cashed out. So basically I made 12,000 in profit off them in 2 weeks. I've gone to straight betting to get a bankroll for the NFL season.

I log in today and my limit was reduced to 1000. I talk to a manager and he says "You've deposited $300 and turned it into a bankroll of 10,000" "so 2,000 is all we can afford to pay you".

I don't need lechtures now about chasing, but I'm attempting to hit a parlay that pays a substantial amount of money. Should I be concerned that if I eventually hit that this book will not pay me?

I've heard about pegging, decreasing limits before, but never thought it would happen to me.

Kevin if you have insight on the financial status of Betphoenix, please let me know. I'm concerned that I'm throwing away money at this book that will never pay me if I win.

P.S. I only play with betphoenix because they give me VERY generous bonuses every time I deposit. That is the only reason I play with them. It basically saves me a couple hundred dollars every time to do my parlays. I heard books that give big bonuses desperately need customers. The manager said "if I let you bet 5,000, I'd have to move the line". A $5000 bet would move the line at a major sportsbook?

[Kevin]

Hi Recovering,

That is a complete bushleague move on their part.

We've been trying to contact them for 2 weeks with NO reply.

Based on your feedback and the fact that we can't get them to communicate with us, we're removing the last few adverts we have for them on our site.

I recommend that you take small w/d's until all of your loot is out of there.

In the mean-time, I'd recommend making modest plays so they dont think you're trying to hit and run them.

Then forget about bonuses and get over to 5dimes where you will be treated better.

[recovering77]

Thanks for the info Kevin. Really appreciate it, and very grateful to have someone who knows the inside so well. :thumbs:

[Kevin]

I wish there was more we could do. When we have an agreement in place with an advertiser, we have some decent leverage with them when legit problems arise. Its a crapper when we drop (or lose) an advertiser because that leverage is then gone. We try to advertise only the best companies but even the good ones can have issues at times or even become shoddy.