How Valuable Is Blockchain in Global Esports Market?
November 27, 2019
Blockchain brings along a bevy of features and solutions that can provide answers to the long-pressing and potential issues on the global esports market.
Not all betting sites are created equally. While others prefer placing their stakes on online casinos supporting both crypto and fiat, many online casino reviews sing praises to the distinct betting action that crypto-only betting hubs bring. One of the new kids on the block is BetBit.
Launched in 2017, BetBit accepts crypto-only bets from sportsbook punters and casino bettors. It implies licensing under the gaming laws of Malta. However, the betting site does not feature any Malta Gaming Authority badge on its page. That being said, players might find it hard to reach reliable parties in terms of dispute.
Signing up with the betting site is a breeze as you have the option to bet anonymously. BetBit accepts players around the world, so long as they are residing in regulated areas. That being said, bettors from the US cannot place their stakes here, but they can play the games in Fun mode. Know more about what this crypto-only site has to offer in this BetBit review.
Signing up with BetBit will greet you with several Bitcoin bonuses and promotions you can enjoy from the get-go and as you transition to being a regular member of the casino. Here are the bonus deals up up for grabs:
On BetBit, you have the option to double up your initial funds. Simply make your first deposit and you will receive a 100% up to 100mBTC bonus. Then, send an email to the support staff to credit the reward to your player account. The catch is you have to bet the bonus amount 45 times in qualified wagers before you can cash out your funds.
The bonuses do not end on your first deposit as BitBet tosses cashback rewards as you play. After your first successful deposit, you can get a 25% cashback bonus on your next four deposits. Say you reload your account four times with 250 mBTC for each transaction and lost all of them after playing. You can request a 25% cashback bonus for each of your deposits. In this case, you are eligible for a total of 1 BTC cashback.
On top of these, monthly cashback rewards are up for grabs. Every month, BetBit will give you 15% cashback based on all your losses the previous month.
The two cashback rewards come with a 45x rollover requirement. To claim your bonus, simply contact the player support team that claims to respond “pretty damn fast”. Note though that the live chat option is available for only 8 hours a day and 6 days a week. In that case, you can send your requests using email or skype.
|Cryptocurrency||BTC, BTC, BTG, BTS, DASH, DGB, DOGE, EOS, ETC, ETH, LTC, MIOTA, QTUM, SC, STEEM, STRAT, XMR, XRP, ZEC|
|Minimum Deposit||0.001 BTC|
|Minimum Withdrawal||0.001 BTC|
BetBit offers a decent library of over 100 games. Expect crisp graphics and fun betting action from powerhouses like Habanero and Endorphina. You can put your luck to test by betting on the usual favorites: slots, table games, and video poker. The betting site takes pride in its live tables as well, flaunting smooth streaming quality, a variety of tables, and attractive dealers to boot. If you wish to check out titles other than the classic game favorites, check out the arcade titles on the Other section.
Meanwhile, betting options for major sports leagues are also available. You can place your stakes on odds for basketball, soccer, ice hockey, and US football, among others.
Despite the casino’s petite game collection, it offers a decent mix of titles from the big guns as well as the rising names in the field. The titles are divided per category so you can easily pick which game to play. If you are in the mood for a fun spin, check out Ice Pirates, Satoshi’s Secret, and Blast Boom Bang. Several titles for roulette, sic bo, blackjack, and other table games are also on board. For casual betting action, check out a number of keno options like Super Keno and Power Keno.
What sets crypto-only betting sites from standard online casinos is the fast banking process. BetBit supports popular crypto coins like Bitcoin (BTC), Bitcoin Cash (BCH), and Ripple (XRP). Here is what you need to know before you make your first deposit and cash out.
There are no minimum deposit amount indicated on the betting site, but you can deposit at least 0.001 BTC. All deposits in BetBit are done through BTC, BCH, ETH, LTC, XMR, and XRP. But if you do not have any of these coins, you can still top up your account via ShapeShift. It will automatically convert your coins into mBTC and credit them into your account. The deposit will show up after two confirmations.
Cashing out your balance does not require ShapeShift, simply choose which coin you opted for. Then, enter the wallet address and the amount of your cash out. The minimum withdrawal amount is not indicated, but you can withdraw 0.001 BTC or above.
In addition, your casino and spots balance is separated into Casino Balance and Sports Balance. You can cash out only from the casino balance.
BetBit poses as a decent crypto gaming destination. Unfortunately, it does not compare to the big fishes in the field. It stands on average in terms of game library, as well as bonuses and promotions. In addition, providing necessary information about the betting site, like its license information, for instance, is necessary to establish customer trust and boost its reliability.
Simply put, BetBit could be a fair place for casual betting, but it is a lackluster choice for a gripping betting action. But given that BetBit is still a new kid in the block, you could say that it can still improve and finetune its shortcomings in time.