How We Review Bitcoin Betting Sites
Every online casino or sportsbook, which supports gambling via cryptocurrency, is evaluated on Betmentor. We examine each online casino against our standardized evaluation terms and conditions.
First of all, we deposit cash after creating an account like normal users. Then to check the time taken to withdraw money or jackpots, we place different stakes. We take into account every small aspect, such as customer support, user interface, the performance of the site, the website interface, and banking methods. All of our reviews and rating depends on all the factors mentioned above.
We will only add a casino to our list of best Bitcoin betting site if it earns our stamp of consent. We provide free of cost all these details to you. We believe that this way, you will be able to find a betting site that fulfills all of your requirements.
We consider the following aspects of a casino while testing their Bitcoin service:
Welcome bonuses and Free Bets
Most of the Bitcoin betting sites welcome their new users with bonuses. It is, however, not easy to withdraw cash from your account with these welcome bonuses since usually there are betting requirements imposed upon them. We want you to have an insight into all these bonuses. Ranking via a welcome bonus size is not the only criteria. Many casinos can offer great unique rewards and promotions because of online betting. We rank those sites higher, which offer bountiful gifts and rewards.
Variety of Sport and League Selection
Betting on sports vary from site to site. Some allow gambling on every sport from A to Z, including major leagues, while others might allow only a subset of available sports. Some also allow you to bet on lower-class football leagues in countries like Kazakhstan if this is what you like. We rank those sides higher which allows their users to choose from a variety of betting options.
Transactions are a serious issue, and we cannot compromise on this part. While reviewing sites, we check what the minimum and maximum limit of depositing and withdrawing cash are. Moreover, which cryptocurrency is supported and what is its minimum stake. For this, we explore pages like in Bitcoin sports betting Reddit to find out what people think about them and what are reviews regarding a site.
What are the benefits of betting with Bitcoin?
There are many advantages to betting with Bitcoin. These include anonymity, instant transactions, big bonuses, etc. Their detail is as follows:
- You can withdraw payments anonymously. It means that you do not require any personal information for checkouts. Bitcoin addresses and working emails are enough for transactions. However, some sites might require your ID for identification (Know your customer). You can view this at Bitcoin betting site reviews.
- Transactions are processed immediately in Bitcoin betting sites. It allows you to bet quickly and withdraw big jackpots instantly after winning into your Bitcoin address.
- Mostly there are pretty considerable bonuses in Bitcoin sites as compared to regular online casinos. CloudBet gives you a 100% first deposit of up to 5 BTC. It is incremented by 0.01 BTC for every 800 loyalty points and lasts a year.
- You can get this bonus on games like slots and sports bets too, which is incredible. Other cryptocurrencies options, such as Ethereum and Bitcoin Cash casinos, are also available.
- Chances of winning bets in Bitcoin sites are almost equivalent to those in normal online casinos. It gives you the freedom to create as many accounts as possible and then betting on your desired game to maximize winning probability.
- Betting with Bitcoin can be creative. It can allow you mutual betting at Onehash. Mutual betting means that all bets on a single sport are merged in a pool. The winning amount depends on pool sharing. This way, the chances are flexible, and you play against other gamblers instead of playing against the house.
What are the disadvantages of betting with Bitcoin?
Some disadvantages of Bitcoin betting are as follows:
The most reliable and reputable license for any online casino is from either Malta or the United Kingdom. For example, the casino has to pass some tests, and after thorough verification of its payment modes and identity, and other factors, it qualifies to get a license from Malta. Small agencies check Bitcoin casinos like Curacao, Costa Rica, or Montenegro since Malta and UK do no accept Bitcoin casinos yet. They can even work without a license. Having a less reliable or no license does not mean that it is a scam. But there can be a chance of less security, and it can be vulnerable too. We hope that one day there will be strong licenses for Bitcoin casinos too.
There is a lot of fluctuation in the USD or EUR rate of Bitcoins and other cryptocurrencies. It can annoy many people as that one day your 100€ in Bitcoin can become either 120€ or 80€ next week. It is not easy to estimate its future value.
Although using Bitcoin gives you freedom, but it can cost you a lot if you make a small mistake. The benefits of using Visa or MasterCard is that if the company goes bankrupt or a hacker tries to steal your money, it is the company’s responsibility to make up for it.
However, in the case of using Bitcoins, it is solely your mistake if any mishap occurs. So you have to be vigilant while betting with Bitcoins