Betcoin is a bitcoin sportsbook, casino and online poker room that operates solely in crypto-currency. The company has made quite a splash since its debut in 2013. The outfit has the backing of some of the largest offshore online gambling sites, and is strongly focused on US and Canadian markets.
It is one of the few BTC gambling sites that offer players the ability to bet on sports as well as play at an online casino and poker room, all from the same account. This is common with fiat currency-based online gambling sites, but has yet to become a must-have option for bitcoin gamblers.
Professional Look and Anonymity
Betcoin Sports has a strong backend, and is straightforward and simple to use. Odds are available in six different types (American, decimal, fractional, Hong Kong, Indonesian, and Malay), and all available markets are clearly laid out on the left side of the page.
One nice feature that Betcoin has, and that other sportsbooks should consider adopting, is that all of their daily markets are listed on the ‘Today’s offers’ tab while events planned for the following day appear on the ‘Tomorrow’s Offers’ tab. Instead of manually going through every market to find out which games are going off each day, this allows you to view all of the day’s action from the one place.
Betcoin doesn’t allow full anonymity for users, but it comes close. The site requires an email address, username and password, but does not ask for any additional information. It’s also one of the few BTC sites to extend its support to Litecoin deposits.
One important thing to note about Betcoin accounts is that they must be approved before players can play at the casino or sportsbook account. Management does this during business hours (10am to 10pm). Once a bettor has made a deposit, they should be approved within an hour. In practice, this is generally much faster for real-money play.
Deposit Bonus and Universal Sports Dollars
All first-time depositors at Betcoin will receive a 1.0 BTC bonus if they deposit 5.0 BTC or more on their first transfer. This is both the maximum amount and minimum amount that can be received from the first deposit bonus.
Clearing the bonus can be done through wagering at the sportsbook and casino. Players have to wager a minimum of 20 times. At least ten of those wagers must be placed in the sportsbook, although either the sportsbook or casino can be used for the remaining wagers. The wagering rules are mostly self-explanatory, and will likely be completed without prior knowledge, but they should still be kept in mind when you’re clearing the bonus.
Betcoin’s rollover is one of the best around. It’s a simple 3x rollover using the deposit amount and the bonus, so for a 5.0 BTC deposit and 1.0 bonus, the total rollover amount would be 18.0 BTC.
After depositing, players will notice that their BTC balance has been converted into Universal Sports Dollars. This is Betcoin’s own in-house currency, and is always utilized for betting inside your account. 1.0 BTC equals 1,000 Universal Sports Dollars and the same conversion rate is used at the Betcoin sportsbook, poker room and casino.
As I mentioned above, Betcoin has some backing from the fiat-based offshore gambling world, and the company’s focus is centered on American and Canadian sports. Football, NFL and NCAA offer the most markets, but the NBA, MLB, and NHL aren’t far behind. Excellent support is given to March Madness promotions and other college basketball coverage.
Regarding international sports, soccer has the most markets, and these cover most top European domestic leagues, as well as major European tournaments, like the Champions League, and international competitions like the World Cup. Other available markets take in tennis, mixed martial arts, rugby, cricket, boxing and more.
Betcoin’s markets are among the most advanced in the bitcoin sportsbook market. The favorites of most US bettors will be available, plus many others besides. Teasers, parlays, if-bets and reverses, and round robin are all staking options. Futures are available for just about every sport as well. Proposition markets vary depending on the sport, but are particularly well-supported for the NFL and NBA.
The site also has live in-play options for dozens of sports across the world. Its interface and odds make it one of the better options for bitcoin bettors who have a thirst for live action. However, like many sites in this space, the crypto-currency market has yet to match the live in-play platforms of most regulated fiat-based online bookmakers.
Betcoin has a minimum bet amount of 5 USD, which is around 0.005 BTC based on the conversion rate at the time of writing. The maximum wager is currently 1.0 BTC, which is definitely on the small side. Players also cannot place a wager that has a potential win of 5.0 BTC or more.
This may concern some bettors, but we see this as a sign that the business is risk averse and is treading lightly. This actually gives us more confidence that the book has a sound financial footing and that it will be able to pay players on time well into the future. As the industry progresses, we expect these limits to rise.
Support and Cashier
Betcoin’s support staff makeup one of the better teams in the industry. Live chat support is offered during business hours, with players receiving such support in a matter of minutes. The email response time is also extremely quick. While Betcoin quotes a few hours for response times, our emails to staff have been answered in a matter of minutes.
Betcoin credits deposits instantly, but does not have instant withdrawals available. Still, the process doesn’t take too long to complete. Withdrawals are usually approved within 15 minutes, but this process can take up to four hours.
Betcoin offers plenty for bettors besides an online sportsbook with poker room and casino, and the sportsbook itself would be reason enough to make this a strong recommendation. The site definitely caters to the US market though, and is not a bookmaker I would recommend for European bettors.
Those who love wagering on the NFL and other American sports will find an excellent option in Betcoin Sports. The deposit bonus, something that many bitcoin sportsbooks fail to offer, makes the site especially attractive.