The growth of the crypto sports betting industry serves as yet additional indicator on how far has the digital money went through so far. With new game betting platforms opening every day, it is crucial for investors to understand what can be gained from them.
SportsBet.io is one of those sites, while also being considered as one of the popular choices when it comes to bitcoin betting. Read on as we go through the platform’s privacy, fees, deposit/withdrawal methods and betting programs, saving you time and effort needed to do the investigation yourself.
Sportsbet Review Summary
Launched in 2016 by Luckbox Ent. Ltd., a company based in Curacao, SportsBet is one of the relatively new yet established players in the crypto betting market. The platforms offer betting services through official partnerships with BitCasino.io and Coingaming.io. The BitCasino offers an additional pool of cryptocurrencies while Coingaming provides the latest betting software necessary for speed and quality of services ran by SportsBet administrators.
SportsBet’s services are globally available, as anyone with coins can deposit and use platform’s products.
Registration and Privacy
Registering an account at SportsBet involves only email, username, and password. While creating a free account, the user does not verify any of the information at this stage, email included. To deposit, withdraw and bet on SportsBet platform, you do not need to verify your identity.
The only situation in which the said protocol would come in handy is when you might have issues with your balances or you believe to be hacked by someone. Without verification, support team would not be able to help you with the before-mentioned problems.
The process itself is straightforward as you only need to provide relevant and correct details about yourself when creating a profile. You also need to upload scanned ID and proof of address, as shown below.
Deposit, Withdrawals, and Fees
The reason why we are reviewing this platform is the ability to bet using your cryptocurrencies. The main coin of trade is bitcoin, with other altcoins unavailable for direct usage. SportsBet does offer a service in which you can convert crypto altcoins into BTC through ShapeShift.
Using ShapeShift exchange, you can deposit funds using almost any coin out there from the crypto industry. The main currency is bitcoin but with ShapeShift, you can convert Ethereum or Litecoins into BTCs for a fee of 0.5% in addition to the exchange rate, as shown below.
The SportsBet’s deposits, withdrawals and betting fees are not that different from other platforms such as CloudBet and Nitrogen Sports. The only real difference is the serviceability, as the SportsBet offers its services worldwide, while some countries are restricted in the before-mentioned two sites.
Currently, the SportsBet betting platform offers sports and casino services for its users. There are 23 distinctive sports types, with football, boxing, tennis and many others available for clients to bet on.
Each of the sport betting pairs has numerous functions for you to stake your bitcoins at, like a number of goals & corners, win or loss, handicaps and many more. You are also available to stack up couple more pairs from different or same sports types, increasing your potential gain at the end, as shown below.
The minimum bet stands at 0.01 BTC ( 1 mBTC), evaluated at approximately $150 while maximum profit depends on the selected pairs and sports. You also have an option of live betting for games that are currently in progress, a feature rarely seen in the industry nowadays.
The casino holds over 100 different games that you can bet on, from jackpot, blackjack, and others. The US investors do not have the access to this part of the betting platform, which is a disadvantage when compared to competitors, as shown below.
Bonuses and Promotions
You do have promotions while betting at SportsBet. The currently open promotions, “Handicap Hero”, “Price Boost” and risk-free first-time order offer returns on the lost bitcoins (up to some level) or increase gains. It would not make you rich but it will definitely help starters to learn about the site while keeping the losses minimal.
Although fairly secure due to the partnership with Coingaming, we do see an issue with the age restrictions. The age limit is set to 18 years being the minimum, but due to the lack of verification requirements, anyone under 18 could transfer the coins and participate in gambling.
Apart from the age issue, all personal information is protected by SSL-encryption codes. On the more personal protection level, there is two-factor authentication (2FA), available for clients to increase the safety of their balances.
The customer support has three distinct sections that you should be aware of. The first one is a live chat, where you can directly communicate with one of the customer service representatives. We deem this quite important, especially if you encounter an issue that needs a solution quite quickly. You also have FAQs and direct email system, as to ensure you have enough information and additional channel of communication if the live support malfunctions for whatever reason.
What we have gathered from different forums, reviews and scam investigations, SportsBet is currently held as one of the top betting places for cryptocurrencies users. The BTC technology is used to prevent frauds and security issues, while the support department generally has positive remarks on Reddit and bitcoin forums.
Pros and Cons
- services available globally
- a chance to use different altcoins for betting
- no verification of an identity needed to start playing
- various partnerships supporting the platform
- exchange rates for altcoins might be quite high through ShapeShift
- no way to verify users aged under 18
- US clients cannot use casino platform
- no sign-up bonus program
Overall, we would rate SportsBet positively, as the platform offers a little bit of everything for both experts and beginners in the sports and casino betting. Security is good though the issue with the clients that are underage needs to be solved soon. The privacy is high while fees are low, even compared to fiat betting sites and other crypto competitors.