Years back when Bovada was Bodog, I made a few withdraws in one year for a total of $1,500... greatest gambling year I ever had. And that was with shady Bodog where some reported checks bouncing, though mine cashed just fine. I have 100% confidence in Bovada paying out, considering they still get an A+ rating from review sites and I haven't read any issues on the gambling forums.
However, Bovada sucks ass when it comes to sports betting. I was using 5Dimes until after 30+ years in the business they shut down a few months back. So by default I went back to my old Bovada account until I settle on a new site.
So, why does Bovada suck for sports betting? Ugh... highest juice in the business, fewest betting options, worst futures odds, slowest lines, and extra juice on favorites.... at 5Dimes I could money-line parlay ANY sport or prop bet together. Not at Bovada - certain sports/events/futures/props cannot be parlayed together. It especially pissed me off, because that's how I gamble. "Will so and so win by 8.5 points?" Who the hell knows, but I'm pretty damn sure they'll win the game. So I money-line parlay them with another favorite or two. Makes gambling much easier for amateur cappers like me. The trick is being very selective on which favorites you pick of course.
Bovada seems to cater to low-end betters who don't care about juice, or gambling options. They just want a well-known flashy site which also has poker. But catering to Joe Schmoe public is exactly why Bovada juices the favorites extra hard - knowing the public generally bets favorites. If every other site has an NFL favorite at -2.5, then Bovada will list them at -3... but at -115 or -120 juice. It's how they roll.
And futures odds, forget it.... think the Milwaukee Bucs will win the NBA title this year? Bovada currently lists them at 6.5:1 odds even though every other site has them at 6.9:1. Small difference, but want to shoot for a longshot... Detroit Pistons win the NBA title - Bovada currently lists them at 500:1, while other sites have them listed at 1,200:1. That's insane. I hate Bovada. Good for poker and horse-racing, that is all.