BetCoin is another one of the many Bitcoin-only sportsbooks to open up over the last few years that service the US market. They opened their doors officially in April 2013. With state of the art software and a flashy web page, the sportsbook has vaulted themselves into real players in US betting markets. BetCoin is located and based in Costa Rica, a familiar country for online gaming operations. Their servers, however, are located over a thousand miles away in Amsterdam. The team behind BetCoin has over 16 years of experience in the offshore industry at fiat-based sportsbooks.
Many of the founders of BetCoin also reportedly have ownership in the Winning Poker Network, one of the larger US-facing offshore poker rooms. They have paid players consistently since opening their doors and also offer Bitcoin as a deposit method. BetCoin has four different brands which can all be accessed from the same account. They offer a full-service sportsbook, a Las Vegas-style online casino, poker room and dice games. In addition to accepting Bitcoin, they also accept deposits via Litecoin. Like most sites strictly run on crypto-currencies, they take players from just about every country in the world, including grey and prohibition online betting markets.
A Personal Opinion On BetCoin
What We Like About BetCoin
Their software and interface are one of the better products in bitcoin markets. It’s state of the art, and it’s clear they spent a lot of money on their platform. They’re also one of the few BTC sportsbooks to offer a generous deposit bonus and a VIP program. They also feature reduced juice for several major markets. Also, although they clearly cater to North American markets, they have quite a few betting options from around the world. There is no shortage of options for players who are looking to bet on overseas sports or smaller markets.
They also have quite a community surrounding their site. There are large forums that have plenty of posts daily and a lively player chat room that runs on all their platforms. They also allow players to transfer funds to other accounts. This used to be standard at online poker rooms a decade ago, but is less common today, especially in the US market. Transferring funds between accounts can be done instantly and is an excellent feature for helping a few get into the action
What We Don’t Like About BetCoin
BetCoin does pay the vast majority of their players quickly, but their support staff has gotten a poor reputation regarding dealing with players and response times. Though they offer live chat support, but players have reported issues with their availability. This is especially disappointing considering their large forum presence and community they have built around the site. It doesn’t seem to be affecting player numbers or sign-ups too much because there’s always people chatting or posting on their forums.
However, it is an issue when you need something handled quickly by support. They do seem to be a little slow to help. There have also been issues with them crediting bets several hours later, which is a bit of an issue, particularly with spotty support. BetCoin seems to be improving on a weekly basis, however. Their site has changed quite a bit since they opened their doors in 2013 and issues with support and software have continuously gotten better every year they have been in business.
Their ties to the Winning Poker Network should give prospective bettors a bit more confidence as they have been in the market for quite some time and always have paid players in a timely fashion. Their ties to that room made a stir in 2014 when they lacked proper encryption protocols, but this has since been fixed.
We mentioned above that some players had issues with withdrawal processing, but this does not seem to be the case for the vast majority of their clients. Almost all withdrawals will be processed in 15 minutes or less, even during the middle of the night. Deposits are nearly instant as well. BetCoin only requires one confirmation on the blockchain before deposits are credited. This only takes a few minutes. As with all almost bitcoin-related gaming sites, deposits and withdrawals are free to players.
Notable Payment Processors
BetCoin Sportsbook Bonuses
Sign Up and Deposit Bonus
BetCoin doesn’t offer as much quite as much anonymity compared to other BTC-based sportsbooks. They require an email address to sign up, while for many other shops, this is optional. It’s certainly not a deal breaker if you value anonymity, though, there are plenty of anonymous email addresses that have encryption. The main reason they tie accounts to email addresses is because of their large deposit bonus.
First-time depositors will receive a 1.0 BTC bonus if they deposit 5.0 BTC or more on their first deposit. They don’t offer a percentage or match bonus, the 1.0 BTC bonus the min and max amount that players will receive. The bonus has an impressive 3x rollover rate, but there are a few requirements that players must follow to clear it. Players have to wager a minimum of 20 times before they can clear the bonus, and at least 10 of these bets must be made in the sportsbook. They can also clear the bonus in the casino.
BetCoin Review Highlights
Universal Sports Dollars: The In-House Currency
After you deposit into BetCoin, your BTCs will be converted into what is called Universal Sports Dollars. This is an in-house currency used by the family of BetCoin sites. 1.0 BTC equals 1,000 Universal Sports Dollars. Players will slowly unlock their deposit bonus by accruing these points. The VIP Program at BetCoin is impressive. It has over three dozen tiers, which offer different reward levels, including “lossbacks” and “betbacks “and other incentives like “surprise boxes”.
Players will earn points for every bet they place, and as they progress through the program, their rewards will increase with each level. The higher levels will take a lot of play but offer elite rewards, such as 20% losses returned and 2% back on the amount wagered. The VIP program at BetCoin is a welcomed addition to a BTC betting market that doesn’t offer much in the realm of rewards for players. Those who want to be rewarded for their play and desire a VIP Points system should look to get an account at BetCoin.
Great Catalog Of Betting Markets
Their wagering platform as a whole is the most advanced we’ve seen in the Bitcoin betting world. It’s changed quite a bit since they opened their doors and is now easily the sleekest looking software out there. Regarding functionality, it also doesn’t disappoint.
BetCoin focuses on North American sports but doesn’t discount other markets. Their site is fully translated into Russia, so there’s plenty of action on most major European sports, along with smaller markets. Soccer is extremely well represented, with leagues all over the globe available for betting. Sports like rugby, handball, cricket, darts and more are all available as well. Their markets are comparable to Nitrogen Sports, another BTC-based book that has just about everything under the sun for wagering. BetCoin easily has the best live betting platform for bitcoin sports bettors. All the main markets have live betting available for every game and many smaller markets also have in-play wagering. They go a bit beyond sides and totals. There are tons of team propositions available for live betting, with a dozen or more bets for each contest.
They don’t offer reduced juice markets for all sports, but they available for both college and professional football and basketball, MLB baseball and many professional soccer leagues. Their wagering menu for each game is impressive. They have an assortment of odds including, alternate lines, propositions, and futures markets. Their bet types are one area where they don’t have much to offer besides teasers and parlays. Odds for these are around the industry standard. However, they do plan to add other types of wagers, including if-bets and reverses, round robins and pleasers in the coming months.
Varying Wagering Limits
Betting limits at BetCoin.ag vary rapidly. Their minimum varies per game, it can be 0.00001 BTC (0.01 mBTC) or 0.0001 BTC depending on it. They also have a maximum bet for the majority of the markets of 2.5 BTC, which today is equal to about 11,250 USD. For lesser known sports and some prop markets, bettors can expect anywhere from 1.0 to 5.0 BTC as a betting limit. BetCoin.ag has a page where they explain the different limits existing on their platform. Their maximum betting limit is equal to about $11,250 based on a current price for bitcoins. This makes BetCoin a rather large bitcoin sportsbook. Some smaller fiat-based sites don’t take wagers this large, making them an excellent up for high limit bettors.
As mentioned above, their support staff has been the biggest complaint from players we’ve found online. It looks that the situation has improved recently after BetCoin added live chat support in late 2015. The community around BetCoin is pretty fantastic in general. The site has an upbeat vibe, and there are always new posts on their message board and a lot of active users in the chat rooms.
Overall – BetCoin Review
BetCoin’s issues seem to be behind them for the most part. If these are indeed ironed out, they are easily one of the top sites for bitcoin sports betting. Their bonus offers, reduced juice, and VIP program make them a real player in this market. They’re also constantly improving and looking to upgrade their product.
Joseph Falchetti - Editor-in-Chief / Sports Writer & Analyst
Joe is the author of the blog, most picks, and the majority of excellent content on SafestBettingSites. He's been mentioned on Forbes.com as a gaming analyst and his articles have been linked by larger publications, such as the New York Times.