5Dimes Credit Card Fraud?
Update 2/13/17: More players have reported their cards being hit with fraudulent charges after depositing at 5Dimes. There are dozens of allegations of this behavior by the sportsbook and/or their payment processors that we see this as a major issue.
The charges seem to be within several hundred to a thousand dollars to players’ credit or debit cards, and most seem to be appearing days after depositing with the sportsbook.
SportsbookReview.com does a lot more good than harm to players as a sportsbook watchdog site and player advocate, but moderators have been deleting threads at SBRForum about fraud issues at 5Dimes and have been replacing them with posts like this.
For the time being, we are going to be pulling 5Dimes from promotion. We have updated their rating and and adding a warning to our 5Dimes Sportsbook Review.
According to a thread at Reddit.com, in the r/sportsbook subreddit, many players are having issues with 5Dimes Sportsbook with unauthorized or fraudulent charges on credit or debit cards they used to deposit at the offshore sportsbook. This has also led to a backlash from 5Dimes, where players have reported having their sportsbook accounts suspended.
June 2018 Safest Betting Sites
History of 5Dimes
5Dimes (Full Review) is one of, if not, the most storied offshore sportsbook in the industry. It’s one of our top-rated sportsbooks here at Safest Betting Sites. Their payout record is excellent, and this is over a 15-year period. Even with this recent development, they’re still a top option for U.S. bettors.
However, with that said, they have been in the news for a lot of the wrong reasons as of late. In March of last year, the Feds accused the offshore operator of using Amazon Gift Cards to launder money.
Credit and debit cards being compromised would be a larger issue, but one that just affects customer accounts and isn’t going to get 5Dimes into more hot water with the Feds. Based on the posts in the thread, it seems to be pretty damning that something is going at 5Dimes right now with customers on card deposits:
Is 5Dimes selling your information?
A Redditor made that case two months ago. However, it’s unlikely that is the reality. 5Dimes most likely isn’t selling your information to third parties, but it can’t be fully ruled out.
More than likely, though, their security standards are way too relaxed. Employees have access to call kinds of vital information. It is probably the case that a few bad apples were working at 5Dimes that needed to be rooted out.
Another issue may be their payment processor. Processing online gambling payments has gotten a lot harder since the UIGEA was passed in 2006. This leads to companies using payment processors that are less than scrupulous. We don’t want to call this a scam, but the way 5Dimes is reacting is suspicious.
There clearly needs to be a change at the 5Dimes offices and/or with the company that processes their payments.
5Dimes will still ask players for personal information when they deposit using Bitcoin, such as a driver’s license and proof of address, but will not require a credit card. Bitcoin is a far better option than depositing with a card for several reasons.
For one, your credit card or bank account is not at risk. Secondly, it’s free to deposit and withdraw. If you deposit with a credit or debit card at 5Dimes, you will also have to withdraw via check or bank wire, which comes with an attached fee.
At Safest Betting Sites, we offer a full breakdown of Bitcoin, including a step-by-step process of buying and selling bitcoins and transferring them to and from offshore sportsbooks and other gambling sites.
It’s easily the best deposit and withdrawal method for bettors residing in the United States. If you’re scared about using a crypto-currency and think it will be too complicated – think again. Millions of people use bitcoins without any issue.