My Honest Bets.io Review (Tested With a Real Deposit)

Bets.io is a relatively new crypto-only casino that appeared in the gambling space at the end of the year 2021. It has attracted a lot of attention due to their statements regarding their KYC and cashout policy.

According to the casino’s Bitcointalk’s thread, they do not have KYC verification and they also send the funds in just 10 minutes. Moreover, Bets.io does not charge any withdrawal fees, so this combination of features looks very promising.

Today I will create an honest Bets.io review after making a real-money deposit, playing for some time, and requesting a withdrawal. I will also check all the bonuses and promotions offered by the platform and reach out the customer support with several questions.

✔️ Is Bets.io legit? (5/5)

Despite the fact that in their official forum thread a Bets.io’s representative stated that the casino is not planning to get any license, they now have a Curacao sticker on their footer.

This is one of the easiest to get licenses. It allows companies to offer gambling services in multiple jurisdictions. At the same time, it also lets them sign contracts with some of the biggest game providers in the market.

I was not able to find any problems related to the Bets.io casino. But keep in mind that the brand is still pretty young and does not yet have a lot of feedback.

This section of the review gets the maximum points: the venue is regulated and does not have any unresolved issues.

🎲 Games and providers (4/5)

Bets.io is currently offering both slots and live casino titles from around 50 different game providers. You will definitely find a game to play, no matter the type of casino games you like.

The only thing that I’ve noticed about Bets.io casino games is related to Pragmatic and their minimum slot wagers. I have not checked all the game providers on the platform, so maybe this configuration issue might also affect other games as well.

Currently, the minimum bet in slots games offered by Pragmatic is 25 uBTC.

If we convert that to dollars, then we will get almost 0.90 USD, which is a really large amount for a minimum bet.

I do like to play Pragmatic slots, but with such a huge min bet it is impossible to play those games with my bankroll.

I deduct one point for the configuration issue and I give this section of Bets.io review four points out of five.

🎰 Slots RTP (0/5)

Bets.io is not publishing RTP numbers for the games presented on the platform. The support agent suggested checking the RTP via support for each and every game, but this does not sound like a fast and effective thing to do.

If the customer support knows the RTP numbers, then there is some sort of a database existent where all these numbers are listed. Therefore, it shouldn’t be a problem to implement those numbers right on the casino platform.

Some of Bets.io’s promotions have wagering requirements attached and it is essential to know the RTP while choosing a slot for clearing bonus money. This section of the review does not receive any points.

💰 Payment methods (4/5)

Bets.io is accepting crypto assets only both for deposits and withdrawals. At the time of writing, the platform supports Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Litecoin, Tether, and Ripple.

Here are the minimum deposit amounts listed for every accepted currency:

The minimum withdrawal amounts look fine. There is also a limit amount that can be cashed out per transaction:

You will have to wager your deposit 3x times before the withdrawal option becomes available. The standard requirement in other casinos is usually set at 1x.

Bets.io does not deduct withdrawal fees from you, which is great! I find this approach really user-friendly. Most crypto casinos deduct between 1 to 10 dollars per Bitcoin withdrawal.

To test the casino out, I have made my first deposit with Bitcoin.

The transaction was quickly credited to my Bets.io account.

I give four points to this section and I deduct only one point for the 3x wagering requirements for the deposited amount.

🚀 Welcome bonuses (0/5)

There are no welcome bonuses offered at Bets.io. The support agent told me that there are lots of other regular promotions, including the “up to 15% daily cashback.” According to the casino’s website, the cashback should be up to 20%, so this information is a bit confusing.

This section of the review is not getting any points from me.

📢 Promotions (2/5)

There are three regular promotions that you can take advantage of while playing at Bets.io:

• Daily cashback
• Wednesday free spins
• Weekend reload

The cashback promotion will pay you up to 20% back from the deposited amount if you have lost at least 0.0003 BTC that day.

The amount of cashback is calculated by taking your deposit into consideration. You will get 10% cashback if you deposit 20 USD, and you will get 20% cashback if you deposit 5k USD or more.

You have to make a deposit and lose a bit in order to receive a cashback the next day. The cashback is paid from the deposited amount, not from the money that you have actually lost, which is not a usual way of calculating this type of bonus.

There is also a 3x wagering requirement connected to the cashback amount.

I have received my cashback the next day after making a deposit.

Here are the details of my cashback bonus:

The amount is 0.5 mBTC (10% from the deposited amount of 5 mBTC). I have to wager 1.5 mBTC in order to clear the bonus. It looks like a good promotion at first glance, but this is what I noticed after trying to wager the bonus out:

My bonus was marked as lost after playing for a while. I decided to check it with the support team.

So, according to the answer that I have received from the support agent, your wagering process will stop if you hit a losing streak while clearing the bonus. This rule is not described on the cashback dedicated page and can only be found in the general bonus’ Terms and Conditions.

I have lost 0.5 mBTC while wagering 1.5 mBTC, and this is why my bonus was considered lost. It will be pretty hard to clear the bonus with such conditions, as you need to be extremely lucky not to lose. As we cannot control this, there is no certainty about whether you would manage to clear the bonus or not.

You can also get 20, 30, or 50 free spins by making a deposit on Wednesday.

The winnings gained from these free spins should be wagered x40 times, and I guess that this bonus can also be canceled due to the same reason that happened with my cashback.

During the weekend, you can also get a 50% match up bonus plus 60 free spins.

The wagering requirement for the added balance + free spins winnings is 40x.

Is it possible to clear up the 40x wagering requirement? Let’s make some calculations.

If we deposit 100 USD and get a 50% bonus, then, our total balance would be 150 USD. We will have to wager 50 USD x 40 = 2,000 USD to clear the bonus.

The average RTP for slots is around 96%, which means that after placing 2k USD in bets, in the long run, we will lose: 2,000 x 4% = 80 USD.

So, we had 150 USD as starting balance. Mathematically speaking, we will lose 80 USD after clearing the bonus. So, after completing the wagering requirements, we will have 70 USD left on our balance.

A 40x wagering requirement does not make this bonus attractive at all. After making a 100 USD deposit and clearing the bonus we will end up losing 30 USD.

I give this section of Bets.io’s review two points out of five. The daily cashback promotion sounds attractive, but in reality, it has too many restrictions: you have to make a deposit every day, wager it 3x times, lose some money, wager the received cashback 3x times, and try not to catch a losing streak while you clearing the bonus.

This all makes the whole process too complicated. Most of the time, you will not get any advantage with this promotion.

Other weekly promos with 40x wagering requirements are also not worth taking, as you need to be extra lucky to end up in profit after clearing the bonus money.

🔎 KYC and anonymity (4/5)

The support agent said that Bets.io does not conduct KYC verifications and does not request ID or address documents from the users.

If we check the Terms and Conditions, then we will notice that the KYC procedure is clearly described there.

Bets.io is working under Curacao’s license, meaning that there should be a KYC verification integrated. Maybe this is not the case now, but if the casino wants to keep working as a regulated entity, sooner or later they will be obligated to add the verification process.

Otherwise, they will just start getting fines and there is also a risk to lose the entire license. Bets.io does not accept any fiat currency, which can create a feeling that KYC is not a necessary thing, but this is not true.

Every casino operating under this license should work exactly in the same way, no matter what type of currency they are accepting, crypto or fiat.

Right now, I give this section of Bets.io’s review four points out of five, but I am pretty sure that their KYC policy will be changed soon. At the current state, they do not request any documents, however, the T&C has several rules on this matter.

👨‍💻 Customer support (4/5)

Customer support agents were always available through the live chat over the course of my testing. Most of the time, I have received quick and accurate answers, but there were some weird cases.

For example, when I wanted to check my deposit wagering status, the support agent has checked the information for me with no issues.

The same agent five minutes later refused to provide the same information and suggested requesting a cashout so the finance department would be able to check the wagering conditions.

After some arguing process, the same agent was able to check the wagering status for me. I am not sure why they decided to get rid of me on my second request instead of helping.

Another agent has also had some issues when explaining why my cashback bonus was canceled. It looks like the customer support can answer some easy questions but they experience problems when there is a need to check the concrete details or numbers. This section of Bets.io’s review gets four points from me.

⚡ Speed of withdrawals (3/5)

One of the features that Bets.io casino is actively pushing is the speed of their withdrawals, which should be below 10 minutes. It is time to check, whether this is a true statement.

I have tried to request my cash out two times. The first request was declined because I did not complete the deposit wagering process. Here is my second attempt: requesting the payment to my Bitcoin wallet.

The cash out received the “Pending” status. Let’s now wait until it is released.

The cashout was released only 1 hour and 20 minutes later.

Here you can also see that in order to check my first request and decline it, Bets.io casino has spent over 3 hours.

I give this section only three points. The actual withdrawal time is not anyhow correlated with the casino’s marketing policy. The average processing time for my two requests was over 2 hours!

🌐 Is VPN allowed? (5/5)

There is no information related to the usage of VPN in the casino’s Terms and Conditions. The support agent said that it should be fine to play using a VPN if you are not using it to access the website from a restricted territory.

I am not sure how the management team will decide if you are actually playing from a restricted area if there is no KYC process in place, according to their previous statement.

🏁 Final verdict (3.1/5)

There are two reasons why you can pick Bets.io as your day-to-day cryptocurrency casino: free withdrawals and the absence of KYC checks. Here you will not find good bonuses or promotions that will reward you while you play. There are also no special games that you would not find anywhere else.

I am pretty sure that the KYC policy of Bets.io will be changed soon, and they will start to collect more personal data. After that, the only benefit that will be left is free-of-charge cashouts.