Welcome to CryptoRadar’s review of CloudBet.com. CloudBet is owned by a company called Halcyon Super Holdings .B.V. The company is an offshore business registered on the small island of Curacao, which lies between the island of Aruba and Venezuela. Registering crypto businesses in tax friendly jurisdictions is a commonplace occurrence. It happens with cryptocurrency exchanges and initial coin offerings as well as gambling sites. Even before bitcoin’s launch in 2008, offshore betting was very common.
In this review, we’ll provide a brief overview of the website itself. We’ll detail the promotions designed to keep bettors hooked on sports and table games. We’ll breakdown the sports and table games offered and also talked about how to benefit from deposit and in-play bonuses that can really help build a bankroll.
All of the betting sites reviewed in this series accept bitcoin but the altcoins accepted vary in number and also type.
CloudBet also offers a unique VIP service high rollers will enjoy. Keep reading below and you’ll have all the details you need to start earning/winning more cryptocurrency.
CloudBet isn’t the most advertised or well-known brand in the bitcoin gambling space. That said, it is gaining steam in the community thanks to its wide-ranging gaming options. The sportsbook not only offers the four major North American sports (NFL football, basketball, baseball and hockey), it also offers the world’s most popular game, soccer. These offerings don’t begin and end with major leagues like the NBA or EPL. Players can legitimately place wagers on lesser known junior games and even third or fourth division matchups.
One of the popular theories among professional gamblers is that the best odds to bet on are available in the lower levels of a popular sport, or a really niche sport like darts, snooker or handball (yes, CloudBet lets users wager on handball!)
Right now there are no less than 21 different niche categories to bet on through CloudBet’s sportsbook, including an entertainment section where bettors can take their best guess as to who will be voted Time Magazine’s Person of the Year. Talk about having a lot to choose from.
Promotions keep people hooked on gambling sites and reward them for their loyalty. Those looking to win more bitcoin and pad the bankroll have no shortage of options at CloudBet. In this section, we’ll detail each of them.
Money Back Mondays
Every Monday players taking their chances on slots and/or live table games get 25% of their losses returned to them, up to a limit of 0.001 BTC. At the present moment, that’s around $8 USD. It may not sound like much but as the price of bitcoin continues to rise and more people use it, little bonuses will add up. This promotion runs every Monday until 11:59 PM UTC (aka Universal Time).
Turnover Tuesdays allow players to win up to 100 free spins on slots. Every 0.002 BTC spent earns a single free spin. Players must be playing the slot game called Demon to benefit from the promotion.
Win Win Wednesdays
This promotion allows players to gain 20% bonuses on top of their winnings up to 0.005 BTC on any game in the live casino. A similar promotion runs on Thursdays with players getting up to 0.005 BTC on deposit reloads.
This promotion adds up player’s wins from table games and rewards them with added BTC or BCH. Amounts wagered are converted into Euros to make the counting fair. The top 10 players share up to five BCH. Winnings must be rolled over 30 times to be valid, which is a little much.
As mentioned earlier, CloudBet offers players 20 different sports choose from in its sportsbook. That’s probably more than any serious bettor would ever ask for. But it’s not so much the selection of sports that separates CloudBet or any other bitcoin betting site from traditional fiat sites, it’s the odds.
In the sports gambling world, it’s widely known that online sites like Pinnacle, which accepts fiat-only sports bets, aim to offer players the best possible odds on again relative to other online and brick & mortar sportsbooks.
Part of winning as a sports bettor in the long run involves shopping around a different casinos looking for the best odds. Since bitcoin betting sites typically operate with lower administrative fees and in countries where investing and gambling laws are relatively relaxed, sites like CloudBet can beat most traditional sportsbooks and offer bettors the best possible odds.
This is hugely important when it comes to long-term sports wagering. It’s generally accepted that traditional sportsbooks payout $10 for every $11 wagered on an even odds bet. What this means is that the sportsbooks are guaranteed to win in the long run, just like a casino would on a table game. However, sharp bettors who can win more than 52.4% of their even-odds wagers can come out profitable in the long run.
Consider now that CloudBet typically shaves 2 or 3% off of the best betting odds offered pay Pinnacle and other player-friendly sportsbooks. For serious players, saving 2 or 3% on the payout can mean thousands of dollars in extra bitcoin in a year! This is one of the major advantages to most bitcoin gambling sites.
|Criteria||CloudBet||Other Bitcoin Betting Sites|
|First-time Deposit Bonus||100%, up to 5 bitcoins for high rollers.||100%, up to 7 bitcoins for high rollers.|
|Number of Games Available to Play||21 different sports betting categories, including six different categories of table and virtual games||A wide variety of virtual games, table games and sports betting|
|Deposit & Withdrawal Limits||No deposit limits. Players must play 100% of their balance to withdraw money.||Various limits on withdrawals, some better than CloudBet.|
|Customer Ratings||4 out of 5 stars on TrustPilot.com||Other betting sites have more reviews that rate better.|
Some sports bettors love live betting. The common perception in betting while a sporting event is being played is that the odds are more distorted, meaning there is more opportunity to capitalize and be profitable. That may or may not be true, but sometimes if an underdog gets out to an early lead in a game, the odds will swing more than they should, meaning that placing a few satoshis on the favourite to come back might be worth more than choosing the favourite to win the game before the start of the match would have been.
Regardless of whether those opportunities happen often enough to make lives sports betting profitable in the long run or not, it’s fun to see the odds go up and down in real time like the stock market. CloudBet offers this on literally every sporting event being played at any given time. Do it during the NFL’s Super Bowl, or the most obscure tennis match up featuring junior players very few people have even heard of before. There’s no shortage of options when it comes to betting on live sports at CloudBet.
There is however one distinct downside. CloudBet often lists live betting odds as being open for a wager when they’re actually not. I user that clicks the given odd and types in a wager is often alerted to accept changing odds only to be denied. This can be very frustrating for a bettor watching a game and spotting an opportunity to win big. More established gambling sites dealing in fiat currency tend to do a better job of accepting in-game wagers on sporting events.
We’ve already gone over the promotions associated with tables games, so here, we’ll list all the different games available at CloudBet outside of sports betting.
Here’s a quick list of games available:
- Virtual horse racing
Games like BlackJack and Roulette can be played with live dealers who will actually converse with players via chat. The downside of that is that sometimes the internet connection drops out. To compensate for this, CloudBet drops down the video quality to keep the games going. It still works and players can still make their bets and cash in on them, but it’s not the smoothest playing experience.
BlackJack is probably the most popular live game on the site. The lowest minimum bet for BlackJack is 0.0001 BTC and CloudBet’s tables offer the chance to double down for free during play. Players can also see what percentage of other players are willing to hit or stand on a given hand, which makes the decision making process feel like a communal experience. That’s really cool!
Any online gambling site serious about competing in today’s market has to offer a first-time deposit bonus. CloudBet does, and it’s a good offer. The offer is a 100% return on a first deposit up to five full bitcoins. While that’s a mind-blowing amount of bitcoin, note that players must earn 800 loyalty points on CloudBet to get the full amount of rewards in return. It’s hard to guage how much gameplay that involves, but most sites want players to wager 30 times their deposit in order to earn the full reward.
It’s an enticing bonus, but not the best in the industry.
Maximum Bets and Limits
When it comes to the sportsbook, each event being wagered on has its own limits. That’s true on any gambling site. CloudBet allows users to bet a maximum of multiple full bitcoins on some sporting events, but not others.
When it comes to withdrawing funds, there’s technically no limit, but players have to gamble at least 100% of their bankroll in order to be eligible for withdrawal. That forces players to wager, but its not totally unreasonable.
For those that require higher betting limits on table games, CloudBet offers a VIP service.
CloudBet’s VIP Service
CloudBet’s VIP service offered an incredible 100 BTC limit for the most recent World Cup of Soccer in Russia. With those kinds of limits, players are assured top-rate customer service from dedicated account managers.
CloudBet also offers VIPs the chance to attend unique events, simple and easy withdrawals and bigger bonuses than the average customer gets.
All of that being said, the average player on these gaming sites probably won’t wager enough to get to the VIP level. Still it’s a nice perk for the serious player.
Bitcoin and Bitcoin Cash are the only two cryptos accepted at CloudBet. The deposit bonuses are the same regardless of which currency is used by the player. That said, there are some advantages and disadvantages to using both.
Bitcoin of course is the king of all cryptos. The price of it is likely to be stable relative to most altcoins. Secondly, CloudBet lists its minimum bets and promotions in BTC. It’s easier to interact with the platform while using BTC for those reasons. Bitcoin is the Visa of cryptocurrency. It’s accepted everywhere.
There are however two distinct advantages to using Bitcoin Cash over Bitcoin. Number one, Bitcoin Cash transaction fees are significantly lower than that of Bitcoin. Secondly, Bitcoin Cash transactions get confirmed faster than the Bitcoin network. Those are the two major benefits that spawned the creation of Bitcoin Cash in the first place.
Shopping for the best odds on a game is a huge part of making money betting. From that standpoint, transferring Bitcoin Cash to different sportsbooks multiple times in a week and being able to confirm wagers just in time for the start of a game is much easier to do with BCH coins.
Pretty much all of the betting sites in the market today offer live customer support. These sites want to make it as easy as possible for players to deposit money and place wagers. CloudBet is no exception. Bettors can msg any time via text message and get a response in short order.
CloudBet vs. Other Bitcoin Gaming Sites
In contrast to the cryptocurrency exchanges we’ve reviewed here at CryptoRadar, bitcoin gambling sites do a much better job of serving customers. They have to, because gambling sites have existed for decades before bitcoin was even a thing, and those fiat competitors always do a good job of answering messages quickly, and making withdrawals and deposits easy.
That said, there are many other factors in comparing bitcoin betting sites to one another. Below is a chart detailing how CloudBet compares to other bitcoin betting sites on a variety of factors. See that CloudBet rates well, but there are many other great competitors.
Should You Use CloudBet?
CloudBet is certainly one of the better bitcoin gambling sites on the market today. The bonuses are great, the gaming options are plenty, and the customer support is readily available. Some gaming sites that accept fiat currency and bitcoin convert bitcoin to USD while a player is making wagers. CloudBet doesn’t do this, so the downside is a drop in bitcoin’s price can mean a dip in the bankroll’s value.
However, CloudBet is a crypto only betting site, which means funds are not converted to fiat. Another thing to consider is that the gaming limits can be restrictive when it comes to making withdrawals, but all sites do that.
Overall CloudBet is a great gaming site to dabble in. The games, service and ease of use are on par with the best in the business. Feel free to use the site to enjoy making some bets.
May the winners be yours!