Betonline Silver Rings
This is just a heads up to other players regarding Betonline
. Within a few weeks of joining, I received an email stating I had been selected as one of the 100 "lucky" winners of a weekly drawing for a "free" entry into the nightly 5k. There is a banner across the bottom of the poker client advertising this "free" drawing. The silver rings were placed on my account and available for use without any further action on my part.
Now, granted I am partly to blame here so I'll admit that. I used the silver rings (equivalent to $11) and entered the tourney with my "free" entry. I didn't think anything else about it and did not place in the money that night. I haven't thought about it again until I went to cash out after a few weeks of running good. Here is where the problems started.
First off, when I requested a payout I was told by Player Services Department that I had to wait 7 business days before I could request a payout. I didn't question that and promptly on the 7th day entered my payout request. After 40+ emails and live chat, here is what I learned. You will have to send identity verification documents repeatedly but eventually they will clear you. After this was the second hold up, then I was told that I had to meet General Player Rule #23 requiring a 1x rollover on deposited funds and spoke with 4 different reps. First, I was told that I hadn't met this General Rule. After I stated (repeatedly) that I had, I was then told I hadn't met the rake requirement and I would be required to "play some few games" to meet an $11 rake requirement. When I was transferred to the last rep on chat, he referred me to the Terms and Conditions regarding the 5k guarantee. If you are "selected" in the "free" drawing, you are required to pay $11 rake before withdrawing any funds. Tournament entry fees do not count toward this rake. Rake is .1 per .18 ($198 if I figured correctly assuming you don't make any profit but someone feel free to check my math lol) you put into a cash game pot, so as you can see, the "free" drawing is not "free" at all. I asked if they could deduct the $11 from my balance and I was told "unfortunately not". I did save screen shots of my entire chat.
My advice, unless you are a regular cash player (I'm 95%+ tournament play) then do not use the silver rings. Period. They are NOT free. I will update the thread if/when I receive the payout.