My Honest 500 Casino Review (Tested With A Real Deposit)

500 Casino used to be a pure CS:GO gambling website many years ago. It offered several internal small games which you could play using in-game skins. This year, 500 Casino made a huge step forward: it started to offer more games and it is now accepting cryptocurrencies for deposits and withdrawals.

Today, I am going to test out the website and create an honest 500 Casino review. As always, I have made my first deposit, I have received a bonus, and I have wagered real money to check the rewards. I also had several chats with live support. Read this review to know all the details regarding 500 Casino and the quality of its services.

✔️ Is 500 Casino legit? (5/5)

500 Casino has a license from Curacao. This is the most popular license among crypto casinos. It is easy to obtain and manage. You don’t have to deal with paperwork or invest a lot of money to open a Curacao-licensed gambling website. That is the main reason behind the high popularity of this regulatory authority.

The license itself does not guarantee that the casino will be safe for players. It is also important to check the reviews of real players that share their gambling experiences online.

Trustpilot can help us to understand the current status of 500 Casino. Right now, it has 499 reviews from real players with 81% of them being positive, which is a nice result.

I was also not able to find any issues or unresolved cases of 500 Casino, which makes me feel that this website is legal and reliable. This section of the review gets the maximum points available.

🎲 Games and providers (4/5)

The current 500 Casino game selection is complete and impressive. Here you will find several popular in-house titles, including Crash and Wheel of Fortune. Live casino and slot players will also find a huge selection of some of the most popular game providers.

The only problem I found here is connected to slot game duplicates. Some slot providers might offer a similar game with a different RTP rate. It is up to the casino to choose which game to publish. It looks like 500 Casino is simply publishing all the games that providers offer.

This creates a situation in which you will find multiple variants of the same game title, which is a bit frustrating. I believe that 500 Casino should hire an experienced casino manager who will sort things out and publish slots with the highest RTP.

I give this section of the 500 Casino review four points. The selection of games is wide, but the slot lobby should be fixed by removing embarrassing duplicates.

🎰 Slots RTP (5/5)

You can easily find the RTP for every game published on the website. It is located on the right bottom corner of the game window.

This section gets the maximum amount of points. Despite that, there is a small issue to fix: RTP values are not visible anywhere on the mobile version of the website.

💰 Payment methods (4/5)

500 Casino accepts seven different crypto assets in addition to CS:GO skins and fiat payment methods.

I will use Bitcoin to test out the casino. The minimum accepted deposit is around 6 USD and your transaction needs one confirmation before the balance will be credited to your account.

The minimum amount that you can withdraw is 15 USD with a 1.88 USD transaction fee. Transaction costs change. The next day, when I requested my cashout, the withdrawal fee was already 2 USD.

The transaction fee deducted from your balance on a withdrawal is not anyhow correlated with the actual fee that your payment will be sent to you.

For example, I was deducted 2 USD on my cashout, but the payment was sent with a 0.00000772 BTC fee, which was around 0.5 USD.

This is the actual fee of the network, which I also paid when making my Bitcoin deposit.

Although you need to wait for one confirmation to start playing, the website will send you a notification that your deposit is on the way to your account.

Deposit wagering rules are a bit complicated. You don’t have to wager your deposit before withdrawing it if you use the same payment method to withdraw your funds. But there are some wagering requirements that you should complete if you decide to mix out the payment methods.

I deduct one point in this section for the unreasonably high withdrawal fees. I am not sure, why should I overpay for cashing out? And who is getting the difference between the fee that I have paid and the actual fee that was used for sending the transfer?

🚀 Welcome bonuses (3/5)

At first glance, the welcome offer looks similar to many other casino brands: you get a 100% match bonus up to 1k USD plus 50 free spins.  

There is also a wagering requirement of 40x both for bonus money and winnings from free spins.

As soon as I received the bonus, it turned out that it worked in a bit different way. Your bonus balance will be credited on a separate bonus wallet and will not anyhow interact with your real money balance.

In order to wager out the bonus, you will be using only the bonus money balance, meaning that there is absolutely no risk to lose your real money balance while clearing the bonus.

This information was also confirmed by the live chat agent.

I have also claimed my 50 free spins, which were divided across 5 different Pragmatic games.

I did not get the free spins right away, they were credited in 15 minutes. The support agent told me that this can take up to 2 hours, so you need to be patient.

After using all the free spins, my total bonus balance was 242.44 USD and I had to wager 9,785 USD to clear the bonus and claim the bonus money to my real money account.

As there is no risk of losing my real money balance, I have tried to place several huge slots’ bets with my bonus balance. The 40x wagering requirement is huge and the only way to clear the bonus is to catch an insane multiplier in one spin.

I was not that lucky. I just lost all the funds after wagering around 300 USD.

I give this section of the 500 Casino review three points out of five. The positive side of their welcome offer is that you have zero chances to lose your real money balance. The negative side is that there is a huge wagering requirement connected to the bonus amount.

Let’s have a look at this bonus from a mathematical perspective. I had to wager 9785 USD and the average RTP of the slot game is 96%. So after wagering the amount, in the long run, I would lose 9785 x 4% = 391.4 USD. As you can see, the math says that you would lose the entire balance before wagering the bonus out.

I don’t think that this welcome bonus will stay for a long time in 500 Casino’s arsenal. The bonus is too expensive for the website. They need to pay around 20% commission to game providers from the gross revenue. Even when a player loses 100 USD of bonus money, the casino should pay around 20 USD away (the rate depends on the game provider).

As there is no risk for players to lose real money balance, the bonus balance is wasted really fast with no prudence. As soon as the casino management realizes that they spend too much on this welcome bonus, I believe that it will be replaced with something else.

📢 Promotions (5/5)

There are multiple promotions offered by 500 Casino and I find them all pretty exciting. The first promo is a Leaderboard that is based on real-money bets. The more you bet, the better prize you get. This is a monthly tournament where the top 100 players get paid.

The next promotion is a seasonal Christmas raffle. You get the tickets by participating in games and gaining levels. The total prize pool of the raffle is 60k USD including a new Hyundai car as the main prize.

The Leaderboard and the raffle might be too hard for small players to win. Let’s now focus on the promos available for smaller players.

You will get rakeback for all real money bets, which can be claimed any time you want. The rakeback rate is upgraded every 100 levels.

Another type of reward is connected to the number of XP points you earned for the last 7 days. This can be claimed every 12 hours.

Once you hit level 500, you will be moved to the Silver rank. This should provide you with a better rakeback, some free withdrawals, and other rewards.

The amount of XP points you get is based on the type of games you play. In-house games and esports betting give 1 XP for every 1 BUX wagered. For slot games, the amount of XP points is calculated according to the game RTP.

There is also a list of penalties that you can get if you start using some strategies to farm XP points.

All the prizes you get in promotions are paid with no wagering requirements attached.

Now, let me show you the status of my rewards after wagering 1k USD in slots.

I was able to hit level 82, but I only wagered 1.25% to reach the Silver level. It means that you need to wager around 80k in slots to obtain the Silver level.

I have also received 12.31 USD of rakeback. This is more than 1% of all the money that I wagered. If I compare this reward with the house edge of the games I played, then I got back around 30% of the house edge. I was mostly playing 96% RTP slots and the house edge was around 4%.

• 1000 x 4% = 40 USD
• 12.31 / 40 x 100% = 30.77%

The XP reward is relatively small, only 0.11 USD.

By the way, I was not able to claim any of the rewards before contacting customer support.

I guess there is some sort of verification procedure in place. The customer agent checks your bets and behavior before opening the rewards to you.

There are multiple strategies to farm the XP points, so there should be some sort of verification in place. Otherwise, the casino would lose a lot of money due to high bonus costs.

After claiming the XP reward there is a countdown activated until the next distribution. So this reward started to work as a sort of faucet. Don’t forget that the reward is based on your last 7 days’ activity, so you won’t be getting this forever if you stop playing.

I have also received 12 tickets for the Christmas raffle. I will definitely update this review if one of my tickets wins anything.

This section gets the maximum amount of points. There are different types of promotions available, which will reward both huge and small players. The level structure is unique: I have never seen a gambling website with thousands of levels designed.

🔎 KYC and anonymity (4/5)

When it comes to KYC, the Terms and Conditions of 500 Casino are pretty much the same as for other Curacao licensed brands. The verification documents can be requested at any time.

But there is one useful feature in the player’s profile – the daily KYC limit counter. In my case, it shows that I can deposit or withdraw up to 6k USD daily before the KYC verification will be requested.

I like this KYC counter. I deduct only one point from this section as there is still a possibility that your account will be requested to pass the verification process at any time (based on the T&Cs).

👨‍💻 Customer support (4/5)

It looks like the customer support is pretty busy here, as there are constantly around 1k users online. While I have received answers to most of my questions, the support agents were sometimes not willing to give a detailed explanation, sending me to read the rules somewhere on the website.

I would prefer to get the information from the support agent after I request it rather than trying to find it myself. I deduct one point here and I hope that the support agents will be more interested to provide the answers that users’ request. Sometimes, even a copy/pasted answer might be enough.

⚡ Speed of withdrawals (5/5)

The FAQ page of 500 Casino says that all crypto withdrawals are instant. Let’s figure out if this is true.

I have requested a Bitcoin cashout to the same BTC address.

Right after that, I received a popup message saying that my withdrawal is being processed.

My withdrawal received a pending status in the transaction history.

Two minutes later, I was able to see the amount requested on my BTC wallet.

I give to this section the maximum amount of points available for a quick and simple cashout process.

🌐 Is VPN allowed? (5/5)

The customer support confirmed that there are no restrictions to using a VPN service to play at 500 Casino.

🏁 Final verdict (4.4/5)

500 Casino is almost a perfect choice for cryptocurrency players. They just need to fix some small issues to become one of the best casinos right now:

• Remove the duplicated game with lower RTP from the lobby
• Deduct a withdrawal fee that is correlated with actual network fees
• Lower down the wagering requirements for the welcome offer
• Organize additional training for support agents

I hope that 500 Casino’s service will stay on the same level or become even better in the future. I also hope that they won’t start to cut off the benefits trying to save on bonus costs.