Apart from trade and mining, you can also use cryptocurrencies while betting online. CloudBet is one of those platforms that offer several services for its clients when it comes to coin gambling. This review investigates the CloudBet’s verification requirements, deposit & withdrawals, gambling platforms, security, and promotions.
Summary CloudBet Review
The CloudBet is a bitcoin betting platform, owned by E Gambling Company, based in Podgorica, Montenegro. The business itself is licensed within the Montenegrin ministry of finance as a d.o.o. (equivalent of Ltd) with the license provided for that specific country, since 2015.
The website offers four main categories for betting and those are:
- sport betting
- live sports betting
- live casino
Service is available around the world, with the exception being the USA, much like SportsBet. The Nitrogen Sports have an upper hand, as it is the only platform that holds a license for operations within US borders.
Registration and Privacy
Registering an account at CloudBet are very much the same as with Nitrogen Gaming and SportsBet. You provide email, username, and password, with an only real difference from SportsBet being the fact that email needs to be confirmed.
Much like other gambling crypto platforms, you do not need to verify your identity to deposit, bet and withdraw coins. The staff still reserves the right to call upon your personal data at any given time but it is not mandatory to provide proof of address and scanned ID to start playing.
Deposit, Withdrawals, and Fees
You can only deposit, withdraw and bet using bitcoins, while other altcoins are not available. This can be considered as a weakness, especially since SportsBet achieved a strategic partnership with ShapeShift, allowing clients to deposit altcoins as well (though they are expressed in bitcoins nevertheless).
Users can provide either QR code or provide address code to deposit or transfer back coins into and out of the platform, as shown in the screenshot below.
Live betting provides over 10 other functions, with handicap being the most used in all sports types. You can also stack these claims and create your own customized investments per pair, which is not possible at SportsBet.
Apart from sports gambling, you also have the option to invest in the casino and live casino games, which account for over 100 different games for you to try out. The best part of it is the ability to play them for free (not available for the live casino), as shown below.
You get free credits that you can use for games that interest you, checking out the rate of success of the particular app. Suffice to say, we would recommend you to use sports over the casino, as the platform does not offer fair gambling environment. We did try out different apps, and in most cases, we did lose almost everything we had as the computer-based calculations in most cases we staked against us.
Bonuses and Promotions
For first-timers, CloudBet prepared matching investment up to 5 BTC for the deposit made. We deem this quite a large bonus given to you when betting, even though you cannot withdraw the said sum. It helps players gain higher profit margins but lacks the stable occurrence like what Nitrogen Sports offer through a loyalty program. It can be used for the amount of up to 5 BTC only.
Apart from the entry bonus, there are no other promotions offered currently. SportsBet excels in this aspect of online business, as it offers handicap and other promotions on daily basis.
On the company level, the business claims that it keeps all coins in cold storage, securing all balances in cases of the major hacking incident. All withdrawals are processed manually, to ensure safe transfers for website’s clients.
Customer support at CloudBet holds two distinctive services, FAQ, and ticket system. The FAQ provides most of the technical answers while ticket system is used for bugs and issues with coins and security. The live chat, unlike at SportsBet, is not available, meaning that clients depend on the working hours of the support department.
The reputation of the company can be viewed in mixed light, similar to SportsBet, though we would say that the latter has a slight upper hand in Reddit. Due to the numerous password-related issues a year ago, the company added 2FA feature and hashing password, increasing its security since the several smaller incidents.
The Reddit community has mostly positive remarks, as well as some other reviewing platforms, though the issue with passwords and encrypted details remains.
Pros and Cons
- no verification demand to start gambling at CloudBet
- ability to play casino games for free
- low deposit amount (0.001 BTC)
- customizable betting stacks
- offers deposit bonus for new accounts for up to 5 BTC (matches deposit amount)
- US clients unable to register at website
- live chat with customer support not available
- lack of promotions and bonuses
- only bitcoins can be used to bet on the platform
- underage traders can use services without issues
Overall, CloudBet is a decent platform to gamble at, providing you with free casino apps and low deposit minimum. The issues remain with lack of daily promotions and altcoins availability, pushing other platforms such as Sportsbet to the top instead.
The security is adequate though password management and age-specific features might need additional tweaks in the near future. The site is suitable for both beginners and experts.